New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-09

bank. -. ao,.v
did not know the bank would fail, nor did deiaS
ar touch in any way the appointment OF . receiver
am absolutely ignorant of any Transaction with MI
Bardsey, within without the bank
Instead Of the bank losing penny by me, have only
been It's profitable customer
tn CbairFrom your statement II appears that your
nne OF deposits was reduced the time Of the run on
the bank It'll 1t closed -
Mr. wanamaker-Yes they short Of money ana we
had no go to the Keystone Bsnk 70 get money
and we had paid of everything.
The Chsir-DId you have any opportunity OF Ano"n,s
the condition bank that smaller depostors wou'a
not have information received from the oahK oVcs
or anybody connected with III
Mr.. wanamaker-I had information from any sour
that was not common TO everybody. kne" from NJ
Marshs statement only tho bank was poor out nc
always said TO It's poverty occasoned Dy en
ing money thought. to poorer people around the hcs
borhood -
Mr. Ettlng-About his stock, this collateral which you
received from Lucas did you get that originality
Mr. wsnamaker-I received IL long time previous to
his death
Mr. Ettins-You utilized that colaterali
Mr. wanamaker-Yes, used IT for the purpose OF Dor
rownp money until heard there question about H.
then OF course had out and gather 1t up ana 'n
kept It until should get settlement WIN ule esOi"
and then finding the bank was closed ana IL ooke
a. - Il was not eoina 90 and the statement being
made that II the stockholders would give up their soch
l let the Lucas estate have IL.
n, lctt.nrwhen did you first that this stock
was part OF unauthorized issuei
Mr. wanamaker-I had no knowledge OF IL until MI
Marsh brought 1t and that some time after the
- r., -
Mr. Etting-Dd you want value for the STOCK aiur you
had been told that 10 WAS unauthorizedf
Mr. Wapamaker-I had pending, at the time as have
,old YOU the question Of settlement have suateu 10
van tina. never believed, and DO believe now tha'
the stock held improper stock But was for'uhS
enough make settlement otherwise IL nls' O
nossible that would have Of the missing money
,foY r-ada nd xrf1 QEH
.o,recv or not that you wanted considerable sum
q, oney-eghty or ninety thousand dollars for this STOCK
Is that sol
Mr. wanamaker-I wanted than that. wanted
IN get in settlement as much as l could for It,
Mr.. Etng-In other words you felt that Mr. Lucas hao
given you security good and you wanted bis
estate redeem It'll
Mr. wanamakcr-I did feel THAT he had given me Sc
my stock 10 SELL
Mr. Etting-What the OF this delay OF two
weeks that Mr. Drew speaks about'
Mr. wanarnakcr-Tlere was no delay whatever. was
not here and when back turned It over IL was
In thot one week that followed the failure Of the bank
Mr. Ftting-But in that one week 1 Informed. and
ask YOU whether there change in your mind as to
It's you originally asked certain amount ana
subsequently surrender it without anythngf
Mr.. wanamaker-You are right. l at first supposed
the hank wos not I'm as bad a condition II has since
turned out to be- when IT looked there was no
value to stock it was not worth my While TO h2ht
about It.
Mr. Ettine-Did you ever borrow any money on Key
stone Bank stock1
Mr.. Wanamaker-I did that IS to say passed the sDocK
over 70 my brokers. who used it.
Mr. Ettnc-what was the pltco you originally asked
after the failure the bank for that stockl
Mr. Wanamaber-I not sure that L can remember
that l think / tried 20 get 100000.
Mr. Ftting-After the bank failed
Mr. Wanamaker-No; not so much as that Perhaps
nearer 600 l cannot remember.
lrNn1dnr In ha hqpH
Mr. Wanamaker-I was never a stockhOlder in the bank
nor my firm, and never any knowledge of the man.
sgement
MI Ettng-Did you Feep any other accounts in the
Keystone Bank other than that of the firm
Mr. Wanamaker-I kept my personal account there.
nay have kept trustee account that had which wa
closed out a good while ago Mrs. Wanamaker had an
account and my in Europe had an account
Mr. Eting-Was there any account Kept there ior Vh'
Penny Saving Fund.-
Mr. wanamaker-Yes there was. almost sorry
you asked me that
Mr. Ettng-Why so. srl
MI Wanamaker-I the president Of the Penny
Saving Fund which, Of course is business for poo
people The charter obiges TO invest the money "
certain securities could not get the securities and
in the meantime we are paying interest, and all Tho
trust Company was per cent, and a.
favor asked Mr.. Marsh he could
not lend that money at per cent and take 1t and give
per cent Penny Saving Fund which he consented
to DO and which 1 felt great favor was not
here 10 look after things, and IL relieved me- and l
was last August that Mr.. Marsh came to me one morn
ing and said 1--WE cannot afford TO pay you per cent
for that money" notified Of the directors, and
they were puzzled what to do with IT, and think
rather begged him keep it for about month after
ward, gradually 1t was drawn out. l think 1t was
drawn out September That is the history OF that
The interest we did not get, out that much.
Thomas B. Wanamaker testified that he could
add nothing to what his father had said At
G:l5 the committee adjourned until tomorrow.