Joseph McKenna

“ United States, supra, 'that is to say,' to quote the language of that case, 'by paying money out of the funds of the bank to a designated person when that person was not entitled to take the funds,' with the consequence that the money was lost to the bank. And it was fairly inferable (to answer certain of the objections made by defendant) that the proceeds of the discount were actually paid by the bank, and to whom paid, and that payment had been demanded and not made. It is more than an inference that the loss to the bank was due to the discounts. ”

“ The circuit court sustained the demurrer to the first fifteen counts. 183 Fed. 907.
Section 5209, the section for the violation of which the indictment was found, is part of the provisions for the regulation of national banking associations, and provides as follows: 'Every president, director, . . . or agent of any association, who . . . wilfully misapplies any of the moneys, funds, or credits of the association . . . with intent . . . to injure or defraud the association . . . or any individual person, . . . and every person who, with like intent, aids or abets any officer . ”

“ This is a writ of error directed to review the ruling of the circuit court upon a demurrer to an indictment against defendant in error.
The indictment contains sixteen counts, charging him with wilful misapplication of funds of the Mercantile National Bank of New York city, in violation of § 5209 of the Revised Statutes (U.S.C.omp. Stat. 1901, p. 3497) . The demurrer was sustained as to fifteen counts, and the United States has brought the case here by virtue of the act of March 2, 1907, chap. ”