The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-05-29
H. s. Hill, and were among the largest
brokers who operated on the oil market for
the great bull syndicate last summer. This

the great bull syndicate last summer, Thi
syndlcate begun buying oil at S5 and con
tlnued to buy up to 81 20. 1t lost enor
nous sums and finally got out with a com
promise with the Standard, the latter lax
ing the syndicate oil at 8Sc. This pool wa
composed Of men like Russell Sage, Jamel
r. Keene and others In New York, Pitts
burgh and elsewhere. The partnershiI
between Watson and Hill was dissolved
before the big deal was completed, Thil
may explain what some Of these amounts
mean because Watson was certainly biz
operator for tho bank, and It is also GER
tain that the syndicate took its business
out Of other brokers' hands toward the
cloea and put most OF It into tho hands ol
Mr.. Hill. sl5 NJ g.pa. M IN = :,
It WAS reported that a ell.knoyn firm oi
brokers had the name Of D. Wilson & 90.
npon their books last summer. The part
uers. OF the firm say they never bought oil
on such an account, and know nothing
about 1t. There seemn to be little doubt
that John P. Beall could explain much OF
the mystery II he was here, for during the
last six months be has had entire
charge Of the dealings in oil oflthe bank.
hs LETT Tor New York last week, after his
failures, and he has not yet returned. f, It is
said that the directors who did not endorse
the notes given to the associated banks for
the aid they extended, are James Herd.
man, who Is under bonds as President ot
the Dollar Savings Bank not to endorse,
Mr.. Phil Reymer, who said he was not
worth the amount Of money involved, and
would only endorae at one bank, and James
a. Hopkinp, who refused to endorse or do
ANYTHING else Of the kind.
The directors have been in close session
at the bank all day, with several experts,
delving into the books. Mr.. Riddle will
bsstrong enough to come ints the city to-
morrow. There areSreports that criminal
proceedings will he taken, against all :, the
olhcern Of tile bank by those who made de.
pSsits on Friday, on the ground of false
preteusea 10. obtaining money. Many de:
positora- approached refused to take any
part in such proceedings...s., &
=: IH"''s''.s sAHrRorEcrIvE ASSOCIATION. y ia
The. Pennsylvania Mutual Protective
Association was organized e few years ago,
with Hon. James H. Hopkins as President,
William N. Riddle, Treasurer, and H. D.
Sellers, Secretary. Its object was the insu.
rance OF tho lives OF lis members, and is
believed to have been primarily designed
10 bring griBt 10 the Penn Banks mill in
the shape Of collection Of assessments
where deaths occurred. 1t has enrolled
on it's books as members coed many peo-
pie who believed it TO be a safe invest.
ment, but has never reached any great I'M.
portance financially. A member died re.
Gently, and when his representative pre-.
sented g claim Tor the amount OF insurance
wasinformed that it could not DO paid In
less than three months. This wus before
the development of the trouble in the Penn
Bank. The failure Of the latter may prove
fatal also to.the Pennsylvania Mutual Pro.
tective Association.
"Wers you member OF the firm OF D,
Wilson & Coz" was ealutation as general
on tho streets this morning as did you see
Tom Collins? ?" a few years since. Every
person seemed to have heard OF the connec.
ton OF this alleged firm with the Penn
Bank failure, and il an actual record bad
been kept Of tho responses, it would have
shown that ninety-nine out Of hundred
replied: mo, but / wish had been."' The
developments later in the day put the Will
son firm in the shade. II it had an exist
'ence,it would be-! best ad vertised firm
in the city. r. ggs6.:.
A director Of the Penn Bank who was
intcrrogated this afternoon Gays THAT the
over-checking as known up to the present
moment on fictitious accounts, such as
Vanderbilt etc, W. H.aVanderbilt and
other amounts in theavgregate Of 81 ,OO0, 900.