Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-28
ONLY ONE ARRESTED,
For President Young Secures
a Stay Till To-Day.
UGLY RUMORS AFLOAT.
HOerT and Young Both Interviewed
on McCaffrey'S Grievance.
THE STATE LIKELY TO HOLD ALOOF


There was another echo yesterday from
the collapse of the Lawrence Bank in the
shape Of iEformations before Alderman
O'Donnell, made by Thomas M. McCafrey,
the Butler street real estate agent, charging
President W. W. Young and Cashier John
Hoerr with embezzlement. The charge is
brought under a special act of the State
Legislature, providing penalty for the re-
ceiving of deposits by insolvent bankers,
brokers or officers Of banks.
The informations were made at IL o'clock
yesterday morning. The warrants were
placed in the hands Of Constable Connolly,
and soon afterward Cashier Hoerr was ar
rested at the bank building. President
Young will be arrested this morning. 1t
was at the request of his attorney, Mr.. Nc
Cook, that the warrant was not served last
night The following is a copy of the in
formation to which Mr.. McCafrey swore:
A DIRECT CLAIM MADE.
Oath having been administered according to
law, Thomas McCaffrey deposeth and sayeth /:
This is the city of Pittsburg, in the county of
Allegheny, State Of Pennsylvania, on the 2Ist day
OF November. 1857. The defendants, William W.
Young and John Hoerr, did take and receive from
the afhant $40 rs as deposit in the Lawrence
bank, of Pittsburg, the said William Young being
at that time President OF said bank. and John
Hoerr being the cashier Of said bank: said bank
being State bank. and at other times before said
date. The said defendants. being such oficials Of
the said bank, did receive other moneys of this
afisnt in deposit in said bank with the knowledge
at the time of the receipt of the several sums of
money that said Lawrence Bank was at said time
sires that a warrant may issue and the aforesaid
defendants. William W. Young and John Hoerr.
embezzlement.
sworn and subscribed TO by
THOMAS MCCAFFREY.
The act under which the charge is made
is an extremely severe one. 1t was drawn
up by F. NJ. Magee, Esq, of this city, who
is reported as having often said that there
were too many citizens of the State being
ruined by bank failures. The act is unlike
almost all others of its kind, in that it de-
prives the courts of any discretionary power
in the matter of prescribing penalties for its
violation. It provides for a fine and i'm
prisonment, and prescribes the penitentiary
only as the place Of confinement.
A DRASTIC ENACTMENT.
The following is the act in full:
Pamphlet laws of 1859.
No. i62 page I45.
vent bankers, brokers or any officer Of bank ma
tional, State or private defining the offense and
Section BE it enacted, ETC.. that any banker,
broker officer Of any trust saving institution
and receive money from depositor with
the knowledge that he, they OF the bank is at the
and shall be punished by a fine and double the
amount SO received, and imprisoned from one to
9Th day of May. lss9)''
The Constable found Cashier Hoerr busilv
engaged at the bank. He was completely
dumbfounded when the officer informed
him what was wanted, but recovering
quickly, said: "All right and the two went
together to the Alderman's Office, where the
cashier pleaded not guilty to the charge,
and telephoned for Mr.. Charles F. Ahl-
born, who gave bonds in the sum of s., 500
for his appearance at the hearing next
Wednesday afternoon.
WHAT HE SAYS ABOUT IT.
Mr.. Hoerr was seen at his home on Char
lotte street last night. He was not inclined
to talk. He said he had been misrepresented
so often that he felt like refusing an inter
view, but, on being pressed to answer a few
questions, Ventured to say that he understood
very well the law under which he had been
charged with embezzIement, but he thought
Mr.. McCafrey would find it a pretty hard
task to prove that the deposit had been re-
ceived with the full knowledge of the banks |
insolvency. fsOf course received that de- |
posit of S470." said he, "and put it in an |
envelope, the same manner in which all |
other deposits received that day were dis |
posed of. As soon as Assignee McKelveY |
gets matters arranged, Mr.. McCsffrey will |
get his money back again. feel perfectly |
at ease as to the outcome of this matter. 1 |
am not guilty of any crookedness. In % |
years of hard work, have managed to save
enough from my earnings to pay only s., 900 |
for home. and it is all in the world that L |
can call my own"
LOOKING FOR THE PRESIDENT.
The officer who had been given the war
rant for President Young spent the larger
part of the afternoon looking for his man |
out in Lawrenceville. He was then notified
that Mr.. Young was down town attending
to some business. He came into the city |
and was met by Attorney McCook. The /
latter requested that Mr.. Young be not ar
rested until this morning, and promised to
be responsible for the Presidents appear
ance at the Alderman's Office this morning
early The Squire, who is disposed to be
as lenient as possible in the case, said: "I
suppose it's all right" and further search
for Mr.. Young was postponed.
A DISPATCH reporter called on Presi-
dent Young at his home last evening. The
latter said: ''I think you fellows might let
III oAOhCs OAC VI Vic SAhy ACNopdpCE pIO-
prietors advised me to-day to quit talking
to reporters"
''But what have you to say about this
charge of embezzlement that has been
brought against you?''
DENIES KNOWLEDGE OF INSOLVENCY.
81 don't know anything aboutit. 1 don't
know except through the evening papers
that charges have been made against me.
And if the accounts are true, it does not
amount to anything. deny knowing that
the bank was insolvent when Mr.. McCaffrey
made his deposit, and the officers of the
q nion National Bank will swear that they
did not know it until after IL O'Clock of
the day upon which the bank closed.
don't think they want me very badly.
was on Fifth avenue nearly all day. / was
in the bank In the morning, and then I went
down town. I ate dinner at Mashey's, and
was at the bank again this evening. Itis
simply ridiculous for Mr.. McCaffrey to
bring such charge. Just to think that he
would get scared over $40. He will get
that all back. We are hearing of money
that we did not know we could get may
say, too, that we know of some debts that
We did not know of before"
A rumor was afioat In Lawrenceville yes
terdRy afternoon to the effect that in con-
with heavy depositoron Fifth ave-
lue yesterday afternoon Mr.. Young had
stated that If M. McKelvey is let alone he