Saqinaw, April 17.- Newell B. ParBons was arraigned Monday on the charge of stealing 468,000 worth of Clncinnati, Saginaw and Mackinaw railroad bonds. The courtroom was crowded with the throng of spectators, among whom were Parson's two brothers, and a number of prominent people, showing the marked interest being taken in the case. Prosecuting Attorney Snow called the case for the larceny of bonds promptly at 2 o'clock. E. P. Stone was first put on the stand, testilying in substance that the bonds were kept in the vault in a tin box and that he supposed he had the only key which would open it. The last time he had seen them was eitber the latter part of December, 1898, or January, 1894. He first discovered them to be missing April 6. He found the box locked as usual and it contained about the same weight, but on opening it he found only two old ledgers. Parsons at that time had charge of the vault, but he (E. P. Stone) knew the combination and Nat Wright had at one time known it, but whether he remembered it or not he conld not say. Saín Borden also knew the combination. Parsons and Stone clipped the matured coupons from the bonds last December and he was present when the bouds were placed back in the box. Floyd W. Packard, who is in the employ of the American Express company, testified that the defendant carne in the office shortly before 7 o'clock Wednesday morning. April 3, with a square package which he wanted sent on the early train to Grand Rapids. He understood the name to be F. W. Wright, and so it appeared on the company's copybook. He seemed very anxious that the package should leave on the early train. It left Saginaw on the 7:20 a. m. train. Herbert Aldrich remembered seeing Parsons in a car one morning about the middle of the week in which the robbery occurred. He had a square package wrapped in gray express paper. Dldn't know where Parsons got off the car. Fred W. Kniffht was next called to the stand. He had known Parsons all his lif e. Had been here in February when Parsous said to him: "If I send you a package before long will you put it in a safe place?" He said he would. Nothing was said about the content. Wednesday afternoon, April 4, he did not work. " He went in the store and was told that there was a package for him. He told the boy to open it and etepped in the office. Was told there was a letter on his desk for him. The letter was written in pencil and not signed, but he recognized Parsons' handwriting. He told the boy he need not open the package. The letter had been destroyed, but his recollection of the contents were: "I send by express today a package. Place in two safety vaults where itcannot be found. Inclosed you will find 50. Open the package. When you are alone destroy this letter." He took the package to the room of a friend and found inside of the paper a pasteboard box, to which was pinned two twenties and a ten. Inside the box were two packages. each bound with a yellow strap. He went to the Michigan Trust company's office and placed thein in a safety vaulfc. He started for Saginaw the same afternoon and was met at the train by Parsons and asked if he received his package. It was next spoken of Saturday in private conversation. Parsons said there was $469,000 in that package. Knight was driving with a friend Saturday and met Parsons in front of the city hall. They shook hands and Parsons said: "Don't say a word, boys. but just hang on to the end of therope. If anybody asks you anything about me just teil them I have made $10,000 since yesterday noon." At this point Parsons shifted about uneasily in his chair and the prosecution rested. The case vrill be resumed today at 2 o'clock.