The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-02-15
Bill KembIe,s Bank.

son TO expect any valuable result from the
Advisory Council
Bill Kemble's Bank.
1t is an interesting fact that BILL KEN
BILE of Philadelphia runs bank. Now,
men with KENBLEs avarice and his pecu-
liar notions Of arithmetic frequently estab-
lish banks of a certain kinds and the an
nouncemcnt that this lively fellow had
ADDED a faro bank to his many enterprises
would not be surprising, except as evil
dence that he had partially reformed his
financial policy. and gone into compare
lively decent business. But BILL KEN
BLE's bank is not faro bank.
BILL KEMpLE is President. Almost any
morning you may find the great master of
crooked arithmetic at his desk behind one
OF the handsomest grautc fronts ON Chest
nut street busily adding, dividing, and
keeping mum. lie very properly calls his
bank the.Pcoplc's Bank. Few bank Prcsi-
dents have had greater experience with
the peoples money.
That BILL KEMBLE should set up a bank
is perhaps less astonishing than that he
should find dcpositors. Business men, rs n
rule do not look with favor upon that
style of bookkeeping which has been
Identified with BILL KEMBLE's name ever
since he wrote himself down disciple of
the addition, division and silence school.
Prudent capitalists prefer to deposit their
funds where there Is reasonable prospect
of finding them again when wanted. The
fact that few on no merchants or business
men deposit with the Peoples Bank may
be regarded us evidence that kUMBLE is
pretty well known in Philadelphia. Even
his political associates and personal cronics
prefer to bank elsewhere.
The only reliance of this curious institute
ton is on the state and city deposits winch
BILL kEMBLE controls by reason of his
Komblci>m-we know no better or shorter
explanation. The state deposits range
from five to eight hundred thousand
dollars those Of the city are i'm the neigh
borhood OF a million. Ii either should be
withdrawn. the bank would meet the in
evitable fate OF all financial institutions
built mp by political influence. and with
out solid foundation IN substantial business
standing.
The banks board Of direction consists
Of a choice circle of politicians. all of
whom are content TO leave the practical
management of affairs in the hands Of the
Boss. 1t is said that he has managed
nGairs so wen that the bank now holds
from one to three hundred thousand
dollars in protested paper. It's capital, W,
may mention, is 100000,
In one case KrMniE loaned $4,000 ON
stock Of the Philadelphia and Darby Rail
way. The security was worthless, being
| fraudulent shares overssucd by :. GRos.
Fry the President Of the Ioad. Another
| els, 600 went 10 II. G.. MoRRis on lot OF
| pig iron that had previously been hypothe.
| Gated elsewhere. KEMnLE thought, or pre-.
| tended to think, that he was getting the first
mortgage. BY such judicious adventure,
as these, and many others that might be
! specified, he has succeeded In accumulnt
| ing aste-hasketful of securities quite a.
worthless rs his own reputation
There is considerable anxiety just now
| behind the costly granite front OF
Chestnut street. There has recently beel
! q change in the disposition Of the City
| Council toward KEMBLE which will be APP
to take the city money ont Of his hands
KEMBLE is also trembling in anticipation
OF the possible action Of the new stat,
| Treasurer.
The lease Of life Of this onc-mnn lnstiu
ton is likely to be measured by Bill
KEMRLr's lease of political power. whcl
he tumhlCs, a he surely will sooner OF
later, the Peoples Bank will tumble too.