The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-06-19
The Culver FaIIure---Fraud---Au
of Pennsylvania Implicated.

of Pennsylvania Implicated.
From, he InlLsb'ir0 Commercial Of Monday.
a new phase in the failure of Culver,
Penn 81 Co., has just been developed at
the Auditor Generals Office, Harris
burg, which the Telegraph of Saturday
afternoon states thus: The Petroleum
Bank at Titusville, Crawford county,
and the Yenung0 Bank of Franklin,
Venango county, had deposited with
the Auditor General something like
million and half of United States Sc
curities, as security for their circulating
medium. BY rule in the Auditor
Generals office, as the notes of these
cancellation, such securities were re-
turned to the officers of said banks in
amounts equal to the notes cancelled.
1t is alleged, now, that Mr.. Culver,
with others implicated, who were Meth
er officers nor agents of the Petroleum
or Eenango banks, procured from the
Auditor Generals Office the securities
thus deposited, that the officers con-
nected with the Auditor Generals
office could not have but known that
these securities were not being
possessed by the officers of said
banks, from the very fact that they
were sent hence from the Auditor Gem
erals office to the branch banking
house of Culver, Penn d Co., New
York city. And General Slenker as
sumed fearful responsibility when he
thus permitted irresponsible parties to
carry from the Auditor Generals Office
"A million and u half of money, to which
they had no claim. The question now
arises whether, by the net of the late
Auditor General, the State is not made
responsible for this loss. IF Culver,
Penn ~ Co. were officers connected
with the Petroleum or Venango Bank,
in drawing this money and sending it
to New York, as they did, they were
acting under false pretences. If they
were not officers, then they were clear
ly guilty of embezzlement.
The people of the oil regions, by the
failure of Culver, Penn 81 Co., have
lost nearly six millions of dollars. To
the loss thus entailed, the reckless mis-
management of the Auditor Generals
Office while under the control of Demo-
cratic officials, million and half of
dollars is likely to be added, unless the
Commonwealth can be made RESPONSE
BILE for this mismanagement, when the
amount Will come out of the pockets of
Taxpayers.
. Since the above was written and in
type, we learn that the Auditor General
has appointed MessrS. II. @. Alleman,
Il. @. Williams and Thomas j. Jordan,
of this city, u commission to examine
the affairs of the Venango Bank. The
Auditor General, in the official paper
announcing this appointment, declares
that this bank has committed an act of
insolvency. of which he has been fur
nished with satisfactory evidence. The
members of the commission will pro-
coed to Yenango county, on Monday
next, to discharge the duty devolved
upon them.
The TitusviIle Herald, of Saturday
announces the arrest of Gull
yer, Penn & Co., as follows: Yesterday |
morning Messrs. G. v. Culver, l.. II. |
Culver and John r. Penn, comprising |
the firm of Culver, Penn 81 Co., were |
arrested at franklin, by the Chief of
Police from Harrisburg, upon charge |
of embezzlement and fraud. The war
rant was issued ut the instance OF the |
Petroleum Bank of Titusville. At last |
accounts they had not succeeded in OBJ
tanning the requisite bail.