Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-05-28
the BUSTED BANK,
Latest Developments in the
Matter.
sonEQUsER TRANsAc TIoNs.
A Few Pickings From the Political Tables,
Spread by Various Candidates and
Their Anxious Friends Pre-
pairing for the Opening.

PITTSRrRG, May 2T.-The Penn Banks
affairs continue to be the cngrossing sub
ject Of conversation among all classes, but
at ten o clock this morning there was as
little definitely known as at noon the dav
before.
President Riddle slept fairly we'll during
the latter part of the night and this morn
Ing when he awoke he felt much better
shortly before nine o'clock Mr.. Riddle was
removed tothC residence Of Mr.. ID. A. Stew
art, Esq, on Penua uavcuue near Homewood
where Mr. Riddle has spent much of his
time OF late wears He was 50 much better
that he was able towalk down the stairs and
cut to his carriage
Directors Take Possession.
The directors of the defunct bank this
morning took possession of the individual
book accounts Of the concern, and are pa
tiently wading through them. Up to noon
they had struck some DEVELOPMENTS which
promise to show where the leak was. and
why the second collapse came so suddenly
There is among the accounts one, Of the
firm Of ID. Wilson X Co, which shows over
checking 70 the extent Of S240000. No
such firm Is known in the CITY, and it is sup
posed to represent the accounts of mum
ber of persons who have lately been opetat-
iRg in oil on the wrong side of the market
and have been allowed 10 drain it to the ex-
tent of the sum named The director who
furnished the above information states fur
ther that the account of ThO>. J. Watson
oil broker shows oyerdratt 10 the amount uf
$4,000. He has been popularity credited
with having AT least that much to his credit
in the bank, and was commended for leav-
ing it on deposit while others were wishing
TO get their money out Here we have in
but two of the accounts over drafts repre-
Sentipg S33T, 900. or s. 900 in excess of the
entire capital and surplus of the bank
though it was claimed that $4,000 of the
stock had never been issued as the bank
had enough money without it. At noon
messengers were dispatched to Mr.. Riddle,
at the residence of Mr. ID. A. Stewart. to
earn rom him the names of the individual S
CONF oSiug the firm Of ID. Wilson 4 Co.
4 Statement tn he Prepared.
tiOus, the directors determined upon taking
an action which the public has demanded
for twcnty-tour hours past. They appointed
a committee composed of MeSsrS. 7. B.
Swearingen. \. Cayitt and George C. Davis.
who will select an expert and will place the
books and papers Of the bank in his hands.
He is to prepare statement of the cOndi-
,iOn Of the institution for the creditors aud
for the use of the directors in their further
Investigations.
The board adjourned for short time at
one o'clock, and went into secret session
again in the bank shortly after two o clock.
Their morning session was held in the office
of Mr.. A. A. Hutchinson, where Cashier
Keller. Eli Normicult, one of the tcllcrS
George W. Rowlcy, Jr. the individual
bcokkecpcr, and other clerks were exam
incl
says u l. Mistake.
r j. Watson. the oil broker. who's ac-
count is said TO be short $4,000. says that
if such report Is official something is
wrong. There has been some monkey
work somewhere. said he this afternoon
If the books show am debtor to that eX
ltQl. 1ut llN.u - ltllI hstN' HA''N 'ii'i
that to nv credit in the Penn Bank, it be
irg money which deposited there
When asked if he had ever heard of such
a firm as ID. Wilson Il Co. Nr. Watson said
he hal not. He mtimatrd that J. p. Beal
the oil broker. who recently laid down for a
large amount. might have have been oper
ating for the Penn Bank. W. X. McMullen,
who was in the big bull oil pool last sum-
mer. said he had not dealt in any pools
lately He had about sOOO,O 900 at the Penn
Bank ON Deposit when it closed Monday.
He knew of no combination working as ID.
Wilson Il Co. 1t is reported that John P.
Beal operated on the market here and in
New York for the bank and its friends and
his shortage under his terms of settlement
here was. according to his own account,
$2s. 900. Other dealers reported MS failure
was for more than that sum, and they also
said he WIS heavily shOrt in New York 1t
is possible some Of the money went in this
uuy