Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-07
| NEGLIGENCE OF DREW
Plainly Shown Up by His Faulty
Report to Washington and
HIS HUMBLE PLEA OF GUILTY.
Correspondence With the Treasury and
Drew's Dismissal.
PRESIDENT ASKED TO CAPTURE MARSH

/ WASHINGTON, June 6.-The following cor
respondence explains itself. Under date of
June %, Comptroller of the Currency Lacey
wrote to j. W. Drew, National Bank Exam
| iner at Philadelphia, as follows:
! Enclosed herewith you will find certified
copies of your report of January "a, 1891, as
to the condition at 10 o'clock A. M on that
! day of the Keystone National Bank of Phil
adelphia, and of your letter Of the same date
referred to in said report. An investigation
| of the affairs of said bank discloses the fact
| that at the date and hour of said
1 report the bank was indebted in the
| account of the Clearing House certificates in
the sum of s5A s5l 46; said indebtedness being
! secured by pledge of it's notes and bills
| amounting to $729, ,30s 93, which assets were
| then held by the Clearing House committee,
and were not in the custody of the bank
'You will observe that this indebtedness
| of $5i4S S51 As is not stated among the liabili-
| ties of the bank nor is any mention made in
either the report or letter of this large in
| debtedness, nor of the absence of so large u
part of the assets. You are requested to ex-
plain the cause of these omissions at your
earliest convenience"
Reply of Examiner Drew.
To this Mr. Drew, under date of June 80,
after quoting the substance of the Comp
troller's letter, replied:
II was confounded at the omission, and
can account for it only that, purposely not
including it in the report 1 intended to in
clude and explain it in my letter, which it
appears failed to do, although the memo
runda for my letter contained reference to
the subject. In my later reports 1t was not
omitted
ITO be complete in the statement of the
accounts the report of January "a should
have included the amount of the certificates
asan additional liability, and a correspond
ing amount should have appeared on the
debt side either in stocks, etc, on hand
or in a deficit account or in both. The
omission was clearly an accident, but was no
less calculated to mislead.
"As stated in my letter of transmittal, the
report was informal and incomplete in many
respects, owing to the fact that many of the
accounts we're then and for some time after
ward undergoing verification, but notwith-
standing these embarrassments the omis-
sion referred to should not have occurred
and would not have occurred except by ac-
cident, as stated. l need not add how
greatly regret the inadvertence."
Drew's Resignation Requested.
Comptroller Lacey's answer to this letter,
under date of July 2 is rs follows:
81 have placed your communication,
together with all other facts bearing upon
the transaction, before the Secretary of the
Treasury and the same have had very full
and careful consideration As a result the
conclusion was reached that so important an
omission, after Is days investigation of the
bank, is not consistent with the confidence
which must necessarily be reposed by the
department in the reports those appointed
to make examination of National Banks.
"By direction of the Secretary, l have
therefore to request that you forward to this
office your resignation as an examiner OF
national banks. l cannot close this COM
munication without assuring you of my
sincere regret that anything should have
occurred which would render necessary the
severing of your official relations with the
bureau"
No response has vet been received to this
last note. Bank Examiner Sheppard, of
Pittsburg, was at the Treasury Department
to-day in conference with Comptroller Lacey
and he and Bank Examiner Belts, of Gin
cinnati, will continue to conduct the affairs
of the office in Philadelphia until sue
cessor of Mr.. Drew shall have been ap-
pointed.
For the Capture of Marsh.
A dispatch from Philadelphia says: Mayor
Stuart to-day made public the following let
ter relative to the apprehension of Marsh,
the fugitive President of the Keystone
Bank, which he mailed to President Harri- |
son on Friday:
81 have the honor to herewith transmit |
you a copy of resolution of the Select and |
Common Councils of the City of PhiladeI-
phia, entitled, Resolution of request to the |
President of the United States relative to |
Marsh
The city of Philadelphia, through her
representatives, thus earnestly petitioning |
the National Government, feels thoroughly |
assured of the same active aid, assistance |
and cooperation in this respect as has been |
accorded her in all the previous proceedings |
in this matter and it is in this belief have |
the honor to transmit the enclosed"
The resolutions referred to request the |
Mayor to express to the President of the |
United States the earnest wish that he |
should inform the several Ministers and |
Consuls of the United States of the desire of |
the Government to secure the arrest and |
of the said Gideon w. Marsh, |
and that in the event of its be-
ing ascertained during the recess of
said Councils that the said Gideon W.
Marsh is within the Jurisdiction of any for
eign country, that such measures as may be
prac Bile to secure his arrest and extradi-
ton should thereupon be taken, whether
under the. provisions of any treaty oblga-
ton, or in the absence of such.