Telegram-herald. ([Grand Rapids, Mich.) 18??-1892, 1891-06-13
SUSPENDED FROM DUTY
Bank Examiner Drew Laid on
Pending an Investigation
OF The KEYSTONE BlyK FAILURE
ais Cosnsesfsa win the scandal 60 ~
IssEoaS hiy AIRED - SomPtFoiler
Lacey DeHiss sonss ssry
tsiy hamors-

WAsHHGFoS, June i2.--Bank Exam
insr Drew has been suspended from
duty pending the result IF al investI-
gatsoa into his connection With the
Keystone bank scandal al Philadelphia
Presidents Harrison has penaed an
answer "a the letter OF Mayor stuart,
Of Philadelphia. requesting an investi-
cation Of the hey stOne baak failure
The president says.
Your request that a committee Of the
council OF ia expert accountants DC allowed 60
exallins ana Inspect al me books, documents
and records Of the eank has been
fef.rred 70 the comptrolier with the
suggestion thai under Nc advice OF
the district attorney TIE receiver
permit examination oy proper representa-
live Of the creditors into ali matters and
counts. AID particularly " accounts where
frauds or irregularities are charged. with
sach reservations Of confidence as ths
interest u the creditors OF the bank
or the end Of pablo justice make necessary.
1 am you vii Ind every on
Ger 0f the government having any public duty
connected with this matter DESTROYS 10 coope1
rate win the creditors OF the bank IN all meas
ures calculated 70 protect their Interests and
~ hold 20 proper Accountability every person
having GUT - completely with The failure"
The ugly runors ahoat in this city
and elsewhere. that Comptroller of the
Currency Lacey was a willing instru-
ment OF the late Secretary Window and
Postmaster General Wanamal1er in not
promptly placing the keystone bank
of Philadelphia in the hands of re-
ceiver as soon a. its financial condition
was made known 10 him were indig-
nantly denied by that gentleman when
questioned on the subject He said:
'Tasre Is absolutely not a fragment Of truth
IN the statement The rrst intlmation tha,
] had OF the internal Affairs Of the keystone
bank the very night tEas Secretary
Windom died in New York So far AZ
Postmaster General wanamaker Is concerned,
he - innocent Of the charge Of interference by
bringing pressure 10 bear upon the secretary
70 keep the bank running because the treasury
department had 40 knowledge OF the things
officially or otherwise antiithe night OF January
20 Whatever blame may De attached officially
20 the delay must De laid az my door. II is dim
cult for people ignorant Of the Law and tho
duties which prescribe the action 90 the comp
trolier Of the currency 10 appreciate all the
nice points Involved in the prompt closing OF
q great financial Institution Closing the
doors OF a baak Is serious matter All
banks cannot be treated alike. and no straight
up-and down line can be drawn and every
banS De made 10 align with IL. My
best Judgment from the knowledge at
hand 70 let the bank run on. for
i did not know thea what I knew later on.
FOR remember that the true inwardness Of the
banks condition only came CO in sections
time passed Personally have been anxious
60 go 10 Philadelphia and answer all questions
hui the president thinks that IL Is my duty to
remain here: hence the preparation of my
statement that Is now IN the hands OF the see
Rotary OF the treasury"
PHILADELPHIA. June IA The an
nouneement of Mr.. Drew's suspension
was not exactly a surprise to the au-
thorities and others who have been in
terested in the Keystone and Spring
Garden bank complications. This was
not due to any particular knowledge
affecting Mr.. Drew's integrity. but
grows out of the open dispute between
Mr.. Drew and Comptroller Lacey re-
specting the formers reports to the
treasury ON the condition of the Key
stone bank before IL closed.
on being shown the dispatch from
Washington announcing his suspen-
sion Bank Examiner Drew said some
days ago the comptroller wrote him
desiring a conference on the stu
alton in Philadelphia, and suggest
ing the propriety Of his not resum-
ing his work until such conference was
had. and that on Wednesday he re-
ceived telegram from the comp
troller stating that he would fix an
early time for the conference. He pre-
sumes that this is the foundation for
the reported suspension.
PHILADELPHIA, June l2--The ST.
preme court has handed down deci-
sion that Redwood White, appointed
city treasurer oy Gov. Pattison, is the
proper person TO succeed Bardsley, and
Richard c. oeIlers, appointed by the
city council, is ousted.