Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1884-06-03
THE PENN BANK,
mn .pippLr pLAmEs rnr uInEuroR
uuw u MiiiIon wss Lost Trying to Regain
unc or Two Hundred 1housand--

llGutO fneuttOhiA hhNhseHs
! President Riddle, OF tho broken Penn
/ bank, pittsburg, has made long state
meut regarding the collapse of that in
sUtution. Tho substance Of the statement
is that in 1850 and 1881 the bank made
large loau6 on oil certificates that in lSS2
MIR. Riddle went away for his health,
! leaving instructions to have tho oil ao-
counts made up, aud he began to be uneasy
about tho loans which wero made when
oil was very high. After he returned and
became president of the bank ho found
that those accounts had not been mado up
aud that the loans were 800, 600 to $780,
600 moro than the collateral represented
at tho then very low prices. :" then, he
says, complained to those whom | had
| told to have these accounts made up
aud told them that | did no! SEQ what
| could do unless | could, by per
soual Cxcrtion, get lot OF people
| to buy enough oil, then put the prices up
| and buy enough on the banks account to
make good thCso accounts. | told Mr.,
! Reibcr, and told part Of the board,
namely, L. B. LOughltn, j. .. Brown, y.
! NJ. Cavitt and Major Swcaringon, OF ny
| intention, aud told all OF them that
would not thon, or AZ any other time, buy
single barrel for myself. | had only u
wish tp make up these accounts. | went
| East and the board knew the nature OF
my CTraud, and had u lot OF people thero
| to buy and \ lot hero 60 buy. The sole pur
| pose Of this sohem1 was the profits o.
| tho bank. had no individual interest ia
! the venture at all. In May, isS2, very
largo lot Of oil was bought aud tho price
| advanced" lie then goes on to tell OF
the formation of greas oil oynd'cate
aud shows how it failed aud how some
! thing over million was lost II the vain
! effort 70 regain the original shortage ut
! siOO. 600 to $500 OOO Me. Riddle gives
the names of those WHO were associated
with him aud tells how the fictitious ac-
counts arose.
Pisuro-rueumouil IN PennsJlNsIla.
The state authorities arc now OF tho
opinion that they have hemmcd in aud
will have littlo or 10 more difficulty with
the August outbreak of this disease near
Wcs. Chester. IL will be remembered that
this outbreak was clearly traced 10 seven
cows from BaltimOrO, which wcrO sUli at
! public sale al West Chester. Every herd
| into which these seven animals were taken
WAS infected, and from 40 20 IS per cent.
OF their number lost Ia two Of the ogiE
iaally infected herds the disease was
checked without spread 10 adjoining
herds. In lGe Of the worst iulCC ed herds,
after the state officers had battlCd with
| the disease, and for period OF more than
| three months had kept the herd entirely
| free from II, the owner, IN spite Of the
! protests Of the officers, purchased SIX more
animals, aDd by thus adding more fuel soon
had fresh outbreak among tho newly
purchased apimals, and still has the disease
on his farm.
The total amount expended in this
work since the passage OF the Law in 1879
| QucludIug the amount paid for cattle
killed) does not amount 10 quite Is cents
TO each farm in the state. Ofthis amount
fully 40 per cent. has been paid TO- animals
| The amount OF loss prevented by the
work can hardly bo estimated In dollars
and cents.
Tnu states General rund.
Tho state general revenue fund,
according To the monthly report of the
state treasurer, amounts to a. 63S $50 .I3,
deposited in the fOllowipg named banks:
| Allegheny National bank, PIttsbgrg,
$3.50 600 Farmers bank, Harrisburg
SAC 2j9 90; Farmers and Mechanics Ma
tiona bank, Philadelphia, 1900 030. SO ;
Fifth National bank, Pi.tsburg, $Gj, 900;
First National bank, Harrisburg, $iii,. i.
$50 so; First National bank, Uuiontowu,
sl65, 900; Freehold bank, Pittsburg,
$4,000; Girard National bank, Pbiladel-
! phia, 100000; Masonic bank, Plttsburg
| 3lO, 900, Merchants aud Manufacturers
National bank, Pittsburg, 200 O0O Me-
chauics' bank, Harrisburg, 800 900; Ma.
tional bank, Middletown, $50 600; Ma.
t.oGal bank Of Fayette county, $lO coo;
National bank oE Commerce, PIttSburg
slUO, ,OOO Penn bank, Pittsburg, 100000
Peoples bank, Philadelphia, slSO,OOO
Peoples bank, of Fayettc county, $40, 600,
advances, checks and cash itemg, s23
i09.&Si total 81, G2S, ,5S3 70.
Sews by tho nornIa: otsh
| The Oregon state election took place
Monday. Indications arc that Herin an,
Republican, is elected 10 Congress by !, SOC
majority.
John c. Enc, Cx pvcsdent of the Second
national bank Of New York, was dis
charged from custody Ia Quebec yesterday
owing 20 a defective warrant. Ho was re.
arrested on new warrant
4 private wire from Chicago has been
run iutO President hrthur'5 Office at the
executive mansion by means of which hG
is constantly kept informed Of tue prog
Tefs Of affairs in that city 80 far as they
relate 70 the forthcoming convention.
About six hundred persons saw the
wrestling match between Duncan Z. Ross
and Matsada Sarakichi, in Irving Hall,
New York, Monday night. L. was for q
purse OF $500. Tho FIRST fall catch as catch
can was won by Ross, in 55 minutes the
second, Japanese, by Sarakichi, in 10
seconds the third, catch as catch cay, by
Ross, in minutes, aud the fourth, Jap