Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-29

be as muddleQ as ever. senator U D
perman says he is not fighting for political
purposes. No moves will be made until
after the meeting Of depositors tonight
McCafrey says be is in earnest.
The hearing in the cases of President
Young and Cashier Hoerr will take place
before Alderman O'Donnell next Wednes-
day. Mr. Ira +. Breinard went on Mr..
Young's bond to the amount of 81, 500. No
further informations have been made against
any of the officials of the defunct bank. It
is expected, however, that Mr.. Thomas Nc
Cafrey's example in entering informations
will be followed by other depositors of the
bank.
Senator Upperman was seen, and asked
about the published statements In reference
to his action in taking up the depositors'
cause. some of the depositors asserting that
his motive was purely political. The Sena-
tor said that the assertions grossly mis-
represented him. He with his fellow
workers on the committee were desirious Of
having the banks affairs wound up as
quickly as possible, but they wanted the
assets to be realized at the most advantage
eOus rates. Among other things he said:
The depositors' committee and depositors'
meeting were not gotten up for political pur-
poses, or to boom any man for Office. It is
the tales of woe and misery which are con-
stantly dinning in our ears that makes us
clamor for clear statement of the banks
affairs. We want these people to accurately
know what they may expect when the bank
is prepared to pay the depositors. If they
can pay To- per cent or only 4 per cent on
the dollar let us know, then that will
|. H.. NJ
to push this matter until we gain the object
we have in view, and when we have gained
it our future policy will be largely framed
on the condition of the bank to meet its
varied liabilities. Mr.. Young states that
he doesn't know what the condition of the
bank is. If that is true, it is almost criminal
carelessness. 1t is ridiculous for him to
talk in this manner. He knows the banks
condition, and he ought to state clearly and
at once just how the affairs stand.
HE DREW OUT 5000.
Constable Connolly, of Alderman O'Don-
nell's Office, said: "a man whose name.
cannot recall came into the Office to-day and
said that he had 5000 in the bank. Be
coming chary of the banks stability, he
presented a check for the 5000. The
official told him they could not pay him,
yet at the same time they were receiving
deposits Just as freely as if the bank was
solvent. If we can get evidence like this,
the President and Cashier will undoubtedly
be held for court.
Mr.. Thomas McCafrey said: "It was
not merely for receiving the last deposit
from me that Imade the information against
the President and Cashier. The informa-
ton covers the taking of money by the Off
cials from November 3. not only lost the
$500 the morning ofthe banks collapse, but
l also issued a number of checks the even
ing previous, seven-eighths of which were
returned to me dishonored, making my loss
81, ,000 This sum of money has ineonven-
fenced me- All the checks that went by
default must make good, because the
money belongs to other people. It viii
cause me any amount of trouble to raise the
stuff; in any case my business has fallen
of, and even il the bank officers return to
me all the money they owe me
1 would still prosecute them"
DIR. Bier, of Butler street, said: There
has been little looseness in the conduct Of
the Lawrence Bank officials, but l disap-
prove of prosecuting the President and
Cashier. 1t will be no satisfaction to the
depositors to see these men behind the bars,
bringing lifelong disgrace upon their fami-
lies. If there is disposition to prosecute,
it should be made comprehensive. The d.
rectors are equally liable with the men who
run the bank If one is to be prosecuted let
them all suffer.
ASSETS TURNING OUT WELL.
ST have been told by director that the
assets are going to turn out better than any
one expected. As an instance, he stated
that piece of property which was pur-
chased a few years ago for 5000 by the
bank is now worth, and can be sold for,
$40. 900. This case Eaid the director, is
one of many. We have great many more
assets than we anticipated Had we
known that the banking business was car
ried on in such loose manner, would have
Withdrawn every dollar had in the vault
years ago. This has taught me lesson,
and if I knew any Of the late directors of
the Lawrence Bank we're made directors in
any other in which I deposited, it wouldn't
take me "a hours to steer clear of it, because
these men have proved their incompetency
to manage or handle any banking business.
Notwithstanding that am cleaned out Of
every dollar of ready cash ! had, yet say
don't prosecute.
Mr.. Melton Totten said: ''I have banked
with the Lawrence Bank for years, and al
vavs had the utmost confidence in the in
teerity of the people connected with the
Institution as straightforward businesslike
men, but unfortunately that confidence was
misplaced. The directors of the bank, I
believe, are honest men, yet think they
did not Justly appreciate the responsibility
of their appointment and their position, be-
cause they delegated other men to perform
the duties to which they were elected"
PORTER NOT WORRIED.
Alderman Porter said he preferred to look
at the bright side of the failure until he had
definite information to the contrary.
John Hoerr was treasurer Of the Law
renee Goethe Building and Loan Associa-
tion No. 2. He attended a meeting last
evening of the association and resigned his
position. Mr.. Hoerr satisfied the members
of the association that ne could turn over
to them in few days the money belonging
to the association, which amounts to $40O.
The Lawrence school sinking fund, amount
ing to S4, ,OOO is still in the possession Of the
bank. The depositors' committee viii not
leave for Harrisburg until the conclusion Of
to-day's meeting.
Willis f. McCook, Esq. when assaulted
Yesterday respecting the Lawrence Savings
Bank, smiled clear across the street, but
said never word. Like doctors, lawyers,
LOOK at such matters from professional
angle of vision, and cannot be expected to
T. ~. .a.,o in&oroat that fha nnhlio at