The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1891-05-30
GOING AFTER BANK OFFICERS
fw" oiicers of Spring Garden Bank in the
Clutches of the Law.

'iutchcs OF the Law.
PHiLADEIPnIA, May -. Francis W.
Kennedy, president Of the suspended
Spring Garden National bank was ar
rested this morning on warrant sworn
out by Bank Examiner Drew charging
him with making false entries in books
false returns to the comptroller of cur
rcncy and embezzlemcnt of 100000 and
upwards of the banks funds Henry H.
Kennedy, cashier Of the bank and
brother nf the president was also ar
rested charged with conspiracy with
Francis " Kennedy to make false
entries, false returns and with making
both, When the two accused men heard
the warrants were out for their arrest
they went before United States Com
missioner Bell and gave themselves into
custody. Counsel for Kennedy stated
they were willing to waive hearing and
enter bonds for their appearance at
court. Commissioner Bell declined to
allow them to waive Il hearing and enter
bonds for their appearance at court and
fixed the bail of Francis Kennedy at
S2O,OuO and that Of Henry Kennedy at
$4,000 for "a hearing Monday The
kcnncdys are already under $4,000 bail
each to answer the charge Of receiving
money from depositors when they knew
the bank was insolvent.
PHILADrLpHIA. May %. In the case
Of Henry ii. Kennedy. bail was at once
entered for his appearance and he was
released. Francis Kennedy spent all
day and part of the night in an unavail
ing effort to secure bondsmcn. Instead
of being taken to prison he was allowed
to stay all night at IA hotel under close
surveillance of four deputy marshals.
From a few developments that took
place today in the affairs of the Spring
Garden bank it is evident that when the
full story Of the banks management is
told it will fairly rival that of the looted
keystone bank. Receiver Fisher sad
today the further he examined into the
affairs Of the bank the blackcr the out
look became for dcpositors. It is said
that much of the collateral held by the
institution is of IA most dubious character.
being One-nanc paper stock Of com
panics that are more or less embarrassed
and such like. y member of the jcpOsi-
tors investigating committee that is in
vcstlgatlng the banks affairs said to-
night thar among the collateral OF the
bank were two notes. one for $4,000 and
the other for S2OOOO that are drawn 10y II
person vino has NO existence.
PnuADELPHIA. May Is The suspcn-
sion of the Spring Garden bank has been
far reaching in its effects and many husi
ness houses have been seriously crippled
10y it. Yesterday the American Machine
company was forced to assign by reason
Of the bank failure. and today the Mi
lard cilif Cracker company made an as
signmcnt from the sam" cause. The
Aillard CliI company is u stock com
pany and in an investigation Of its affairs
it Was discovered that Frank Benton. the
treasurer, had given accommodation
notes to the extent Of $4,000 to Francis
". Kennedy. president oi the Spring
Garden bank. When this was discovered
the officers Of the company decided to
make an assignment 10 protect their
creditors pending thorough iDvcstiga-
tinn. The company has Il paid-in cap
itai Of Sl2J,OOO and assets are now
| thought To- be about SJO.OUO in excess Of
| liabilities