Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-05-23
A RING SMASHED.
PHILADELPBIAS CITY AND COUNTY TREASURER
RESIGNS, A BANKRUPT.
He Owes the State misunderstanding Develop
ments in the Keystone Bank Railurs-SOme
Account of the Corrupt Ringstsrs Of
the Quaker City.

PHILADELPHIA. May ga ring, the
circumference and diameter OF which
ONLY a Boss Tweed could have measured
off-hand, is going rapidly and astound-
ingly to smash in this end of Pennsyl-
yania. John Bardsley, City and County
Treasurer of Philadelphia, yesterday
resigned. bankrupt, his resignation to
take effect on May 81. Thereby hangs
tale, the unfolding of which Will
undoubtedly keep many political tinan-
cier lodging or explaining for weeks II
not months to come. Mr.. Bardsley
owes the State eff Pennsylvania $3.50, 900,
which he can neither pay in whole nor
in part, though 100000 OF 1T falls due
on the first of June He deposited $780,
of the States moneys with the now de-
funct and thoroughly rotten Keystone
bank. and deposited it simply in the
name of John Bardsley. There is no
record of this whatever at the bank.
Gideon C. Marsh was President OF the
keystone bank when Bardsley did this,
as Bardsley.adm over his own sigma
ture.
Mr.. Marsh is missing to-day. He
failed to appear for further examination
before the United States Commissioner
as a national bank wrecker yesterday
afternoon, and his bail, 100000, was de-
clared forfeited by the government OIL
cials. William H. Wanamaker and
James II. Jones are his bondsmen. His
LAWYER, Mckinley, admitted TO the
United States Commissioner that he
did not know what had become of Presi-
dent Marsh. Possibly he has gone
to Brazil to join ex-senator John Mac
Farlane, wrecker OF the BANK OF Amer
lea. The recent Keystone Bank dis
closures and Thursday nights arrests OF
the Kennedys of the late Spring Garden
National Bank have evidently scared
Marsh, BardSley and others.
The most startling fact disclosed 5
furnished by little addition and sub
traction. When the Keystone bank
failed its sworn total liabilities were ST.
100000. 1t is known tonight that, In
addition to this S1,200,000, the bank
owed the State, through Bardsley, $780,
600, and it owed the city enough over
$500. 600 to entirely double its total
sworn liabilities. Treasurer Bardsley
has tonight made an assignment. his
LAWYER says he is ready to take the con-
sequences.
Now. where will the State treasury
realize on all the recent collapses? Mac
Farlane's broken bank, Jameson S
broken bank, Delamater's broken bank,
and the broken keystone bank all mad
large Jumps of funds deposited with
them by the State treasurer. Mactar-
lanes. Delamater's and the keystone
now known to have been three OF a
kind. Whether State Treasurer Boyer
is interested directly or indirectly In
CITY Treasurer Bardsley's disclosures OF
Tonight must remain TO be determined
later.
Rardslev has acknowledged that he
is a ruined man. What else may result
from 1.-The clean breast" put upon this
awful financial skeleton need not as yet
be coniectured. 1t will all be disclosed
so soon that the public can wait few
DAYS more. One more days develop
ments will certainly be important.
Mr.. Bardsley, since his election as
city trea>ur has placed in the defunct
keystone bank in round numbers ST.
All 600: of this amount S930,000 is due
the State for taxes collected by him as
the agent of the State in his capacity as
city treasurer: SAL, 900 of it was money
on deposit TO the credit Of the city,
which is about S11, 900 in excess Of the
authority given him by councils TO de-
posit in the bank. He had also
on deposit as his personal ac'
count as credit to the Brad
ford mills about 100000. or this
S1.171, 900 the city can collect from his
bondSmen about 1000. The State
can collect S12O, 900 from the same bonds
men. Mr.. Bardsley's bondsmen quail
fed in S12O, 900 for the city funds, and
S12O, 600 for the State funds. They are
liable for the total amount of their bond
to the State, but can only be held on
their bond to the city for the amount IN
excess of authorized deposits.
A close personal and legal friend OF
Mr.. Bardsley said to-day that under the
act of 1860, relating to custodians OF
public funds, he is liable to criminal
prosecution whether the money was lost
fraudulently or otherwise.
The total loss to the State and city In
the keystone and Spring Garden banks
will exceed 81, 100000 less the amounts
realized to the creditors of these institu,
tions. 1t is said to be probable that all
the depositors of the Keystone bank
must be paid before anything can be
realized upon the clearing house due
bills now held by Mr.. Bardsley's as
signee. This would appear to be a
rather gloomy outlook for the States
1890, OO0 claim.