Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-01
fHEFEEAVETO-NIGHT
The DepositcfS Committee Will Wait
Upon MeCamant, at Harrisburg.
ALONG LIST OF DEPOSITORS FILED.
Cashier John Hoerr Talks Very Hopefully
Of the Outlook.
MORE RuMOEs ABOUT Mr.. MKELVEY

The Depositors' Committee Of the Law
renee Bank met yesterday to elect two gem
tlemen to proceed to Harrisburg to see the
Auditor General in relation to Mr.. Nickel
vey's appointment as assignee Of the de-
funct hank, and to present before him
causes why he ought to be Immediately re-
moved and receiver appointed in bis
place. iDos
Senator Upperman, and Mr.. George VIII
son, attorney for the depositors, were chosen
TO GO to Harrisburg tonight BY the o'clock
train. They expect to return on Monday
evening and take the case into court the
following day. The Senator has the utmost
confidence that the Auditor General will
accede to their demands, beccuse they have
clear case against Mr.. McKslvey holding
the position. Their chief reason TOR asking
for the assignee's removal is the fact Of his
being stoekholder, and they say this alone
is sufficient to oust him from the place.
Senator Upperman said yesterday:
''If Long & Co.'S statement is correct
then it will leave the Lawrence Bank in
much better condition than we expected.
In fact, have no hesitancy in saying that
the bank will pay dollar for dollar. We
have no desire to persecnte the officers Of
the bank. if they will only give Us . state
ment. According to the latest information
we have about the banks affairs, it makes
US feel little easier.
A PETITION PRESENTED.
"We presented a petition yesterday be-
fore the Prothonotary signed by $50 de-
positors, and the depositors' COMMITTEES
swore to an affidavit that the names on the
petition were all depositors Of the bank
After we took the petition to be sworn to,
fully $50 depositors called at my Office to
add their names to the scroll, but being late
their names are omitted from the petition.
''Mr. Eichenlaub told me sad tale to-
day: A gentleman borrowed s., 400 from the
bank about three months ago. He gave
good paper for the loan. The man subse-
quently deposited 81 400 in the bank to
cover the loan, but failed to lift the security.
The Lawrence Bank officers, however, took
the security to the Braddock National Bank
and raised considerable sum on the paper,
and yesterday the man was notified by the
Braddock bank that they held the paper,
and gave him 80 days to make it good. The
man is in tight place, and cannot raise the
money in any conceivable way" The Sen.
ator said this is only one of the many sad
cases which the failure of the bank has
caused.
A STATEMENT DELAYED.
Mr.. Hoerr being interviewed, said: "Mr. J
McKelvey and his corps of helpers are
working hard at the books preparing q
statement. No official statement can be
made for several days because we are
obliged to 90 over every individual account.
The reports that the bank received big de-
posits are in many cases entirely false.
Many who say they have thousands Of dol
lars in the bank are not depositors at all.
The affairs at the bank are assuming q very
favorable look, and in short time state
ment will be presented that viii make de-
pOsitors happy.
'sThe sensational yarn about Henry
Glaser's death, which was attributed to the
failure Of the bank, is all CANNON. The
man did business with the bank for years,
but when we shut the doors Mr.. CHASER had
not cent in the bank. These sort Of state /
ments make the people uneasy, and are /
causing those who are trying to extricate the |
bank from its present difficulty good deal |
Of annoyance."
RELATIONSHIP ALLEGED.
Arumor was floating about Lawrenceville
yesterday that Mr.. McKelvey was a nephew
Of Mr. McMahon, vice president Of the
Lawrence Bank Mr.. Mcmahon when
asked ii there was any truth in the rumor.
strenously denied It, saying that no rsla-
tionship existed between them. The rumor
may have gotten circulation from the fact |
that Mr.. McKelvey and Mr.. McMahon |
were partners in the oil business some years !
ago, and they have been close personal |
friends for number Of years.
Mr.. Samuel Patterson, Of station B, said /
that at least go depositors have expressed I
in his hearing the kindliest feeling toward /
Mr.. Young and are content to await the re-
suits of Mr.. McKelVey's investigation. He |
said other depnsitors are bewailing their loss /
in the most ridiculous manner. He said:
"A number Of them went 50 far as to cry be-
fore him. They talk of the failure Of the
bank, yet the depositors forget that they are
The main cause Of its failure.