The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-07-10
THE BANKS IN THE OIL REGIONS.
The Hon. q. v. culver in Jan.

The Hon. q v. culver I'm Jail.
MEANWHILE, Pa, July 3.-If a man is down,
kick him, push him, strike him-anythIng 10
help his downward progress. Fdcjis deoensus
dUe11ai: let's make it so much the easier for the
poor devil who is treading that downhill road.
That is the logic OF the wolld. Let me tell you
a story to prove it.
Charles Vernon Culver was ut the head of one
of the most successful bapking-houses in New
York. A resident Of Franklin, Venango county,
Pennsylvania, the very heart OF the OIL Regions
he naturally turned his attention towards that
country, and devoted his energies to its develop
ment. He established banks. built railroads,
laid the foundation of towns. The town of
Reno mad its birth in Mr.. Culvers brain. A
company was formed, whose President was the
Hon. Galusha A. Grow, ex-Speaker OF the House.
with Mr. Culver rs Vice-Presdent and Director,
10 develop the natural resources OF the neis h
borhood, to build up the town, and to make 1t
the centre of an extensive oil and lumber trafnc
all OF which promised to be brought about a
no distant day. OF this company Mr.. Culve
was the motive spirit. He projected the Reno
OIL Greek, and Pitbole Railroad, which should
drain the Oil Regions of their oleaginous pro
duct. by furnishing short cut to market; and
IN this road were a large portion OF his asset
bound up when misfortune came.
You know what Burns says about the bestlaid
schemes OF mice and men. MIR. Culvers plan
were good but some OF them went agley. He
was blmselt man OF the purest morality, with
none OF the personal vices when drain at the
generous-many charitable society has had
occasion to thank God for the bounty OF @. V.
Culver. There is church in process of erection
IN this city on land donated by him. He built
and presented TO Allegheny COLLEGE boarding.
house, costing 600. His was the money that
has started many poor man in business, and
alas for the ingratitude OF the world !-some
Of these once poor men are the loudest in revilng
him now.
Mr.. Culver is NJ C. from the Twentieth Dis
triCt of Pennsylvania, comprising the counties
- (fra Tod ..V.l
This Office was greatness thrust upon him. He
did not want it-oieIed 500, 900 for party uses if
the Congressional contreres of the four counties
would not present his name TO the people; but
there was hitch in the county nominations
which precluded the selection of any of the
regular nominees, and he was selected as the
harmonlzing candidate. He was persuaded to
accept the nomination, which he dld with great
reluctance, Tor his head and his hands were so
full os business schemes that he had no time for
politics.
other causes conspired to lock up q large por-
ton of the assets OF Culver, Penn ~ Co. in an
inaccessible tolm; and the firm learned it must
suspend operations, for time at least, when
thev hoped the storm would blow over and they
could resume payment with the public cont
dence in their integrity unimpaired. On the
day OF the failure, General Burnside and another
gentleman sat Ill Mr.. Culver's private Office
They knew the wants OF the hrm; $62, 900 would
carry it safely through the day. They volun-
teered that sum; they urged its acceptance upon
can give you no security Tor it, If take it and
il will not ave US, it is lost to you. 1t would
be running too great risk, and | cannot so
wrong you.n They urged; he steadily refused.
The clock struck; bank hours we're over; Cul-
yer, Penn Co.'s notes were protested; and the
telegraph flashed the news OF their failure to
every part of the country.
A meeting of the creditors was soon after held
IN this city, where some kind OF an arrange
ment was entered into tor the satisfaction OF
their clams. With that, however, we have
nothing to do.
soon after this, Mr.. Culver went to Reno.
which is only four or five miles from Franklin.
his place OF residence, and gave his attention to
the completion of the Reno. Oil Greek, and Pit
hole Railroad. which was held by capitalist o
New York as security Tor moneys loaued to the
hIm OF Culver, Penn d Co. He had hardly
begun upon this before he was arrested at the
SUIT OF State Senator Thomas HOge, on a charge
conspiracy with iutent to detraud. He obtained
bail and went on witch his work. Hoee BROUGHT
suit after suit till his patience was exhausted
ana then turned the worrying process over to
Jan es :. MYERS, a candidate Tor President Judge
of this olstrict, who continued it IN the same
manner. These we're both directors in the
VeDango Bank of Franklin whose funds were
involved in the Culver failure
There has been great hue-and-cry that Mr.
Culver obtained the bonds of the Petroleum and
Venango Banks from the Office of the Auditor
General, where, according to law, they had been
deposited, by fraudulent means; but the fact is
that for every dollars worth of bonds taken
from the Aud torGenefaps office, duly cancelled
DlllS OF Tue DdIkS were reUuTueu, anu Tue OOnuS
were only received by Mr.. Culver for the re
demption of those bills.
On Saturday a bench warrant was issued
directing Mr.. Culver to go into insolvency under
bonds OF 100000. He had obtained bail, wher
he learned that other warrants were out, the
intention being to badger him and bait him til
he should turn to bay, when the hunters would
get firm hold upon him. He determined tha
the end had come, and that he would seek and
accept no more bail; but go to Jail at once anC
await trial. His wife, an invalid, resolved tC
share bis imprisonment, and went to jail with
him.
And this Christian gentleman lies in jail the
victim OF mallgnity and persecution; while hi
enemies circulate over the country false charge
of swipdling and fIaud, not one OF which they
can prove He may have been imprudent il
business transactions; he may have ventureC
too far into speculation; but the man does no
live who can prove anything criminal in hi
past life or transactions,-M, Y, Tribune
The Field of War in Germany.
In tracing the movements Of the armies il