National Republican. (Washington City (D.C.)) 1872-1888, 1884-06-03

oil this information and acting upon 70, II
was impossible for majority not TO know OF
ID, aud there is no reason why others should
not Know, as the books were open to examin-
ation every day and we're audited by the
directors. BY invitation of tho vice presi.
dent all tho boards were present at the last
audit. These accounts were there for nearly
year. There were some other accounts also
there. One was q $4,000 delinquent loan,
which all the board say Mr.. Hopkins passed
for coal man. and got money for himself.
The man failed and tho bank has his note.
Then they alloge among themselves that
they were saddled by one Of their own mum.
Der with $4,000 Of real estate and IN old
claim for $4,000, both Of which they say
were passed through the bank for
personal use and over my objections.
Then tho accounts were audited, when all
tho directors but three had borrowed al.
amount exceeding the capital and surplus Of
the bank, to which seriously objected, as
was then and had been carrying an average
balance TO my credit of from $4,000 to
100000 TO which was chargeablo one certi-
fed check of $4,000, that being Eve times
more than the whole board had on deposit, to
say nothing of my stock in the bank, which
was the largest single block on the books
and no money borrowed. Among the largest
borrowers were ID. w. O. Carroll, at ono timo
100000; A. A. Hutchingson, 100000 and
over; Mr.. Hopkins, 100000, to make
up an overdraft of the Pittsburg
Southern Railroad company, created during
my sickness; J. o. Brown, about $40 900.
Maj. Swearingen had borrowed about
of from $4,000 TO $4,000, which kept Mr..
Reiber and myself in tho very awkward po-
sltion of having to notify him, as did also Mr.
Carroll on different occasions. MIR. Cayitt,
| / think, was continuously overdrawn. Upon
the day on which the bank first suspended,
-. y II
/ had just made deposit in the bank to help
| it. While was directing that notice order
ing the suspension to BIO drawn J. o. Brown
went down tho back way and drew good
portion of his balance in currency. and Maj
| Swearingen wanted mo to give him back a
check he had deposited, or the money for it,
which / could not do. On the even.
ing after the first suspension several
gentlemen came TO mo with cashier
check for $1s6,900 held by the Freehold
bank, which they wanted me to pay, antici-
pating resumption of the Penn bank. The
amount was large, and they wanted security.
Tho parties were very urgent about 1t, init
mating that IL it could not DO done ono bank,
and possibly four or five, would not open the
next day. SO finally gave them some notes
amounting to 100000, and gave my own
guarantee, and SO told J. ID. Laughlin, T. b
Swearingen, and j. o. Brown. The gentle.
men who called on me in reference TO the
check were @. l.. Magee and George l.
Whitney. They came at midnight to the
Duquesno club while i was on my way Il
bed. The check was Endorsed by II. s. A
Stewart At the time there were q number
of other gentlemen In ono of the private
rooms of the club. declined TO do anything
that night in relation 10 the check. wa
afterward spoken to about IL by Hr. Gaven, o
the Farmers bank, and Mr.. Speer, of tn,
First National bank. Mr.. II. Il. Laughlir
and Mr.. Whitney called upon me severa
other times. The latter finally came to m,
on tho morning after the first suspension o
the bank, at which tlmo l gave him the col
lateral above named"
Tho remainder Of the statement Is devoted
to recital Of tho events of tho last few day
since the bank closed, and to certain action
of the directors, which he thinks were unjus
and oppressive. His entire fortune, he says
has been given ny, and portion of it has beer
yielded, almost upon COmpulsion, to Becur
other officers Of the bank who wAre as mucl
to blame for tho condition of things as h
was. Tho directors implicated indignant.
deny the allegations made but Mr. Riddel
claims that tho books now In the hands o
the assignee will fully corroborate his state
; ment Mr.. Riddclps condition is much worse
to-day, and his physicians fear more hem
orrhage.
The official statement of the directors mad
tonight characterizcs Riddles allegations a
false in every particular. They assert tina
they knew nothing Of the oil speculation
until after the bank had suspended.