The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1891-06-30
A word from Mr.. wanamaker.

A Word from Mr.. Wanamaker.
In a letter to the Committee of the
Philadelphia Councils which is inves-
ti9ating the keystone Bank frauds,
Postmaster General John Wanna
maker says
II seems to be thought by some that certain
evidence offered at the last meeting OF your
IS not In harmony with testimony oe-
liyered by me when | appeared before you as a
witness. / assume that your COMMITTEES tuny
understand the matter.
The p. NJ. G. sticks closer to the
truth than usual in these utterances.
He is right in his idea regarding the
way people regard his statement. He
might have put it stronger. Most peo-
pie comparing it with all the other
evidence e~xtant, regard it as a budget
Of lies which seemed ingenious only
until the other evidence was pub
lished. Doubtless the Committee
.sfully understood it that way.
This impression will not be modi-
fed materially by the testimony
taken yesterday. Here are a few
salient points from it
President 8. P, Durham. Of the Mechanics
Bank OF Trenton. said the bank had lent money
on Keystone certificate No. $50 for 200 shares.
when did you frs. see it," 1T came into
the possession OF the bank on April %, 1880.
rs 1t now In the possession Of the banks
mot that certidcate.~
Der 10, 1870, when it was exchanged for certit-
In whose name did it standY' In the name
- Al. Tanarnnknr "
sHow did the bank get itf'' collateral
For money ioancds" Yes
Eninrham B Morris, president of the Girard
Life Insurance Annuity and Trust Company,
was the next witness
Have YOU ever loaned money to John Bards-
leyf's asked Mr.. Fitting. Never"
Have you ever seen Certificate 50f' Il do
not know Of It personally, but / know that it
was once In the Girard Trust"
-Howg' ut was one of five certificates for
an aggregate Of loo shares upon which a loan
was made to John wanamaser in March. 1886
The certificates. ! think. were $50, 4Si, 49,, 45s
and 49,"
Howard Spencer Jones testified that he had
been a clerk 10 John Wanamakers private office
for twenty-seveu years, had never owned Key
stone Bank stock, but had once signed a transfer
Of some stock at Mr.. wanamakers request"
Howard Spencer Jones is Mr.. Wan
amaker's private secretary, in whose
name was made out one OF the fraud
ulent certificates which Mr.. Wanna
maker alleged the dead President of
the Keystone Bank, John G. Lncas.
gave him as collateral for his share of
the capital of their joint Reading
Railway stock speculation.
1t is a pretty spectacle to see the
Postmaster General Of the United
States squirming under the load of
fraudulent stock and the fraudulent
profits earned with it, while he goes
from Sunday school to Sunday school
corrupting the children ofthe country
by the exhibition of his SNUG hypoc-
risy.
THAT shrewd old'shearer of the Wall
street sheep. Henry Clews, in his week
ly decoy circular has this carefully
worded paragraph regarding the enor-
nous shipments of gold from this
country to Europe
Considerable surprise is felt at the continued
exports Of gold, though they are on a reduced
scale. IL is incouceivable thar, after the extra
ordinary amount of cash liquidations this coun-
try has lately made, there can be still outstand-
ing against US an adverse foreign balance. We
must therefore regard the eontizued shipments
as due entirely to special causes. The princi-
pal cause appears to be that while there is an
abundance OF exchange being made TO meet
all necessary requirements for renittances, yet
a considerable portion Of the bills are unavail-
able IN consequence Of the credit OF the payers
having been unfavarably affected by the pre-
vailing financial distrust in Great Britain and
or the Continent.
II this is not a polite way of saying
that American credit is all gone to
pieces in Europe, we should like to
know what it is. But Mr.. Clews is a
staunch Republican. He is one Of the
party of m~illionaires who gave the
celebrated Delmonico dinner to MI.
Blaine in 1884. So it is a wonder
that he allows the truth about the
Mckinley tariff to leak out in his
circular, even by inference.
II is a pity the execution of Hallin-
ger should be postponed, a pity for his
sake as well as on public grounds,
since he must hang in the long run, we
are well convinced. 1t is obvious,
however, that the Attorney General Is
right in advising the postponeInent of
the execution, pending the result of
the appeal. A mistake in a matter of
hanging is not easily rectified.
liz his reply to Governor Abbett's
letter upon the Elbe case, Assistant
Secretary Of State Wharton reiter-
ates the view of the case which
we have always advocated. He
brushes aside the mass of acct
dental and non material circum-
stances and gets down to the root OF
the trouble when he shows that the
failure of the Hoboken police to ae-
quaint themselves with such points OF
international law as are involved in