Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-09-20
THE PLOT TH|CKEhS,
Queer Methods of the Lawrence Bank
Come to Light That Are as
Yet Not Explained.
SOME ORIGINAL BOOKKEEPING.
Many DepoSitorS Charged With Over
drafts Whose Accounts We're
Strictly Reliable.
SOME ORIGINAL BOOKKEEPING.
NO OvERDRAFT LISTS TO FLASH UP.
Old and New Stockholders VIII be Sued as Soon as
Possible

The mercury is many points below the
summer zephyr period and all signs are
playing away off the base when some entel-
prising journal cannot spring sensation on
the Lawrence Bank failure. The latest one
to make its appearance in cold type before
an indulgent and unsuspecting public was a
statement made yesterday that before the
Prothonotary's office closed, the Fidelity
Title and Trust Company would file state
ment which would contain a complete list
of the persons who overdrew their accounts
while the ill-fated Lawrence Bank was in
operation. This announcement had the
effect of keeping Mr.. Bradley on the look
out during all the day for the rich revela-
tions promised, but the document failed to
arrive, and Mr.. Bradley, as well as the pub
lie, will have to wait for many a day and
perhaps then in vain for such paper.
One of the high officials of the Fidelity
Title and Trust Company made thorough
statement to representative of The DIS
PATCH yesterday that should set at rest all
idle rumors concerning the wrecked institu-
tion. He said:
SOME PECULIAR BOOKKEEPING.
''There has been any amount of stuff and
nonsense written and spoken about the Law
renee Bank. So far as the rumor concern
ing the overdrafts is concerned it is entirely
without foundation. To begin with we are
not at all certain as 10 where oYerdrafts
really exist. Let me give you an instance.
In examining the books of the bank we
found one case where they showed that
Smith, we will call him, was overdrawn in
a sum between $1,000 and 81, 600. We sent
repeated notices for him to call and settle or
we would have to resort to other measures
but be did not pay the least bit of
attention to US. One day the gen.
tleman called in to attend to another
matter of business, and his attention was
called to the Lawrence Bank statement To
our surprise ne produced there and then
proofs positive that he did not owe the bank
one penny. This shows the absurdity of
publishing any statement concerning over
drafts. We will not undertake to put
long list of men having done business with
the bank in an unenYiable position before
the public where there is as much uncer-
tainty in the matter as the case of Smith
shows
VERY HARD QUESTION.
"But what became of the money which
was charged against Mr.. Smith on the
books OF the bank?" asked the reporter.
The official INDUCED in silence for a
moment as he gazed out of the big plate
glass window and then replied rather
evasively as it seemed: "We know nothing
about that as yet, but We do not propose to
charge any of the people whose accounts
look to be overdrawn wrongfully while any
doubts exist on the subject.
I'VE have had a tremendous job of it |
since we took hold of the affairs of the |
bank. There are so many wheels within |
wheels to be looked after that the work is |
slow and tedious. We are beginning at the |
beginning, and the first step in this move |
ment is the suit which has been filed for |
$780, 900 against the old stockholders OF the /
Lawrence Savings Bank, which we claim |
they owe to the Lawrence Bank, and of |
course we will use every effort to collect |
this money for the depositors.''
'What will be the next step?"
well, am hardly prepared to answer |
that question"
"Will any actions be brought against the |
stockholders of the Lawrence Bank"
'In all probability there will be, though |
that will have to be decided later"
'Is there any truth in the statement that |
the Lawrence Bank was never legally |
chartered?"
NOT READY YET.
"We have not reached that point ia our |
investigations as vet, and l cannot say any
thing positive about it. -
SIS there any one who would be liable to |
have the Information desired?"
II know of no one who could give it to |
you at the present time"
From further conversation with the gen.
tleman it is evident beyond a doubt that |
the affairs OF the bank were left in a pain
fully mixed up condition, and the results
will be anything but satisfactory to deposi-
tors. From outside sources it is learned al
most to a certainty that some lively times may
be looked for before the ins and outs of the
extensive failure are all explained. The
Fidelity people will in all probability file
a report of the liabilities oil the Lawrence
Bank with the courts to-day. The work of
the company is generally highly COM
mended by the depositors, as they will thus
be enabled to realize on the proceeds of the
wreck independent OF unsettled accounts,
many of which are in litigation, several
L IL