Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-06
BOOKED FOR ARREST.
Spring Garden Bank Directors to Be
Taken Into Custody To-Day
FOR WRECKING THE INSTITUTION.
The ROttenness Is Greater Than That Of
the Keystone Bank.
THE CASHIERS BRAZEN EFFRONTERY

ESPECIAL TELEGRAM TO THE DIsPATcH.I
PHILADELPHIA June 5.-General Fisher,
receiver of the Spring Garden National
Bank, will tomorrow cause the arrest of
Ephraim Young and Nelson F. Evans, two
of the directors of the defunct bank. The
charges upon which the men will be arrested
are aiding and abetting in the fraudu-
lent transactions which brought about the
wrecking of the Spring Garden Bank.
General Fisher has had the subject
of the arrest of the two men under consid-
Grafton for some days past, but not until
the conference with the members of the
Depositors' Investigating Committee was
held this morning was anything definite de-
cided upon. When the members of the
committe met the receiver, according to ap-
pointment, they told him emphatically that
something must be done looking toward q
definite settlement of the banks affairs.
The receiver, after discussing the merits
of the case, asked the committee what sug-
gestiOns they had, if any. The reply was
that some of the banks directors must be
| arrested. 'FWell," said General Fisher,
| ''name your men," evans and Young"
was the reply. General Fisher agreed with
| the committee and said that he would at
tend to the matter Immediately. He de-
| sired to consult with LAWYER George B.
| Carr, of the Depositors' Committee, and
| asked that the consultation be had to-
morrow morning
Plenty of Evidence on Hand,
The committee told General Fisher that
these men must be arrested and if he did
not have sufficient evidence OH which to
base the charges they had General Fisher
said that he had sufficient evidence on which
to cause their arrest, but that he had not
been ready to act, and after the consultation
with Mr. Carr, he proposed that the men
should be proceeded against at once.
The conference of the Depositors' Investi-
eating c ommittee with General Fisher to-
day will doubtless result in more sensational
disclosures in connection with the Spring
Garden Bank than have been dreamed ofby
anyone General Fisher enjoined secrecy
on the members of the committee placing
each man on his honor not to divulge any
thing that might be said at the meeting. He
then frankly told the gentlemen the eOndi-
tiOn of affairs as he has found them.
The Deposltors' Committee met again to-
| night. The sense of the meeting was over
wheImingly against further secrecy, and
| they decided to give publicity to everything
| the committee had said or done in the inter-
ests OF the depositors.
Worse Than the Keystone.
At the conclusion of the meeting tonight
| the committee said they thought their only
| salvation was in exposing the rottenness of
| the bank, which they considered to be
| greater even than that of the keystone
| They learned from General Fisher that the
resources of the bank had been completely
| gutted. All the best and available securi-
| ties have been hypothecated, and there is
really no hope for the depositors. The Ken
nedys had taken everything out ofth bank,
| and, after converting it into cash, had put
it in their pockets just before the closing of
| the bank.
f'The available assets in the bank to-day
| will not pay more than per cent, accord
| ing to the information we get from General
Fisher" said one of the committee, ''and
all this talk about the bank paying dollar
for dollar is simply bosh. The receiver
himself says that 6 cents is all that there is
in sight for the depositors
Kennedy's Cool Philosophy.
sTn an interview which subcommittee
of this committee had with Cashier Henry
H. Kennedy at his home, the cashier told
US that the depositOrs were a lot of suckers.
He told us that if we were disposed to be
friendly to him and his brother he could
tell us where to find 100000 worth of Sc
curities that we knew nothing about. The
public has been hoodwinked long enough
with false reports about the condition of the
bank and with statements that the depOsi-
tors are going to get 80, 60 or 20 per cent Of
their deposits. 1t is absolutely untrue.
| Harry HI. Kennedy also told the COM
| mittee that both he and his brother would
stay here and take their medicine. The
worst they can do with us, he said is to
send us up for seven or eight years, and at
the end of two or three years wewill be par
doned out. The idea of going away to Brazil
is too funny Why, to go to Brazil means
exile for life, but we are too solid for that;
we look at it in a more philosophical way"
MRS. SHERWOOD describes how Queen