The sun., 1891-06-09
WANAMAKER'S :.SrATEMENT.
HE EXPLAINS HIS RELATIONS TO THE
KEYSTONE BANK.

His Firm was Made Hespopsibie for Mrs
wsnamaker's Accosht-Ht Could No
Re Overdrawn while the Era had ,
Ba,snee-His Dealings with Lucas nm,
| his Handling or che S,e1J shafes which
Came to Him Thereby-Auosher FueI.
tive from mJustice-Indictment or Rards.
iey-Po.ition or the Government.
PHILADELPHIA. Juno 8.-Long before thu
hour set for the meeting OF the sub-rom mittps
oil Councils that is Investigating the affairs o.
ex-CIty Treasurer Bardsley. the Council
Chamber. in which the meetings are held. was
crowded tc its utmost capaciiv Interest In
the proceedings OF the committee had to, n in.
tcnsiiiod by the promises to-day OF still more
startling DEVELOPMENTS in connection with the
looted bank. and by tho fact that Postmaster.
General Wanamaker hnd siRnifled his willing.
ness to appear before the Committee and tes.
tify to all his knowledge in reference to the
bnnks managcm ent.
Promptly at O'Clock the committee was
called to order BY Chairman Van Osten, and
the first witness WINS called. He was w. II.
Ri avn. President Of tbs Bank Of the Republc.
and his testimony &C, utied only n few min
utes At The conclusion Of Mr.. Rhawn's testi-
mony Chairman Van Osten called ont John
WanamaSer." No answer was returned. and
Mr. Van Os'en turned 10 the sergeant. Mt arms
uhu nSNod IL ue Hhu NundmRk9r 10
| be present. Tho sergcan'. arms said that
| he had. and that Mr.. Wanamake or said he would
| he present. Mr.. Van usten said the commit
tee would proceed. and called Bank Exam
iner Drew. For All hour Mr.. Drew was
acked with questions by Mr.. lit ting. IL men,
Der OF the comm ittee. While Mr.. Drew was
giving his testimony, Postmaster Ge neral
Wanamaker md his son and partner, Thcm mas
y. Wanamaker. pushed their way through the
crowd and came into tho oren spnco before the
Chairman's desk. The Postmaster q encral
found seat on tho from, row. and throughout
MIR. Drew's testimony followed his answers
with the greatest attention.
AT the conclusion OF Mr.. Drew's Testimony
tho Postmns; er. General Immediately left his
seat and came forward with n largo roll uf
manuscript In his and. lie ut once proceeded
to the business that had brought him before
the committee by stating that he, as a TAX.
payer. had the great st interest In unrarelng
the Affairs OF the keystune Bank. He stu ed
that lie had PREPARED and proposed 10 roud q
'ttnte ment that no had in hisAand. He said
that the paper wa an answer to all the alegn-
tions VIII .ch have connected hiS name with the
keystone Bank. and was also q lull and COM
plrte statement If all his transactions with
the bank Before beginning to read. Mr..
Wanamaker said that, when he concud I'd, no
hoped the committee wnuld ask any questions
they desired. The reading OF the paper and
he subs eluent line nt inquiry consumed fully
an hour. During this time Mr.. Wannmakor
remained staining reading the papor. aud
answer ng the questions that were led him.
AS Mr.. Wanamak-r road he occasionally
stopped and said II word or two 10 exp ana
tion. AZ some particularly telling point
he would raise his voice, emphasizing the
words and striking the sheet smartly
with his land. AS Mr.. Wanamaker hau said.
!he PAGER was a categorical denim! nf every al
Nj. Wnnamnker further aidod. at the cn-
clusion Of the reading OF his statement. that
e s aoE. .n were ley 10 te.
it, When he had finished his friends dressed
orwn.d and shook hnnds With him Mr. Wan
am glad to nave the proIe or onportunity to
give such Information as possess in tho mat
lave noticed the comment. oithe newspapers.
and am, not in the. haiti OF running ar,er Gos;
mhtee and IND tho Duhlis;; am ss anxious:
losing the Iu"ds provided BY, ,axpayeis.
my m t.
there may te no question as to what state.
reduce TO wrliing what Lave 20 say and VIII i
submit is practically what have freely stated |
~ have been depositor only: never as IN
owned share OF the stock. l. held until re- |
Gently 2.5l5 shares as collateral. as hei einaier
"yhe firm OF John Wanamaker. consisting
Of ihree persons. Ind I'M nc, cunt with tie
M !hs rm drwn Ts m
airanLenent with the iank: we're ma II ado re.
ars hseks wss unn
acco"nt unasr two heads. Mrs. WanamaksHs
credit. - Ulder these circumstances tho
SsIas SsnK Closed accord ns to our bovss whIos
show balance IN our lasor It l.. trme that
ers IS an ZEN M H. ns. thS mce or sa
before it failed. Of al out $4,000. which no one
at our office nnyhinE about. q, @ ana Wnirh
II they are right and We aro wrong there will
lie 4 small alance against u.s.
run In December was unsbaken ns bnslne'e
men II was. OF course. more or lesi u lmnai,si
throu h the pam lc. as ap.eArs from the follow
ing table taken from our, our 4ep2sit books; , De-
syy.32: deposited In keystone Bank in Necem-
Der, s3s4.oss:02 depo-lted In Keystone Bank
II s.nE a E.S!usty
Bank MsTsh 81 ahs s1ow d"e
NJ NJ 4ssf Marsh was @ ecnIerrins with shsrshoids
during January to raise asssssments on the
mon rumor that thc bank was short. We grad
ualiy decreased our balance. Our lin" 81 dis.
counts had run OIL at the bnnk. and we ielt
under no special obiigai,on: Moreover. as NSo
were using our moEey ut this time nd reduring
our discounts at NIL the banks our course with
Ike keystone Bank was solely dictated by tho
ordinary prudence o: business men. A..
Il nercr knew OF any iiregulnrities In the
Bank until after the run. whom Mr..
l.urnss indebtedness was made known TO the
.iI ectors. as | was informed and that his ss;
tat. ntended o reimburse the bank. which
supposed and wn. informed It had ample
means to do. Alta later period was .s. told ly
hat he feared SONS OF the stock | held as col
ateral was not properly issued. l had no
kuowledge that the bank was going to close
when it did. The first knew Of II was, when
made public a6Sr by from fh
counts granted to my firm or myse!fd we're
urs were ignorant Of the lact; We were, not
aware OF their Ignorance l hayy not been
lSsj. and know but little Of the details, From
The best information l have, ,l's highest
o February, 1880 In February. 1890. IN add.