Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1891-06-04
rnEhENXEDrs MIL.
oellers Takes Bardsley's Place in Phila-
NEUTRALITY-SUSPICIOUS. About the keystone
Bank OperatiOns.

sank olletttIiOhs.
I'HIEApEiPHiA, June l.-Richard q.
OclieIs, the new city treasurer elected by
city councils, took charge of the office 60.
day He began work by ordering a new
set of books. He proposes to start fresh,
with new account hooks for everything, 50
that it will be an easy matter hereafter To
audit back to the period Of Rardsley
Withdrawal from Office, and su also, that
the old books Of the treasury may he at
the disposal At all times Of the exports who
are engaged III strengthening Them ont
During the morning the cash on hand was
So small that warrants could not be paid,
but hy afternoon the treasurer had made
transfers which enabled him to resume
the payment of warrants
MIR Oellers has heretofore been cm-
nl0yed rs cashier al the Philadelphia
HeatR. af which Mr., SingerlY is publisher.
The latter is also president Of the hestnut
street National Bank When lie saw that
warrants were not being paid, lie author
ized Mr. Oelers to draw on the bank at
once for Sit@dOU, if necessary, 50 as 70
start business. but the latter managed to
get along with $4,000 from that bank.
KENNEDYs HELD ron corRT.
Francis w Kennedy, president, and
| Henry II Kennedy, his brother cashier
\ If the Spring Garden National Bank, were
| given hearing to-day before United States
1 Commissioner liell On charges Of emhez-
\ element Justification of accounts and COLI
4 spiracv to dcfraud Examiner Drew was
4 tho chief witness. lie testified that when
III took charge Of the bank he found IN
the cash drawer checks of the president
representing S6O,OODto $4,000 and various
H dthprrhecks and memoranda traceable Il
the president amounting in all to about
] slU6.uDl kcnnclys account had beer
\ 6verlrawn SlO5S6,Si. lie also testiiiet
that false reports had been made to hin
Of the bank s condition on February 10th
lsal and produced the report sworn to bS
II, fl, Kennedy and attested BY director
Middleton trnrland and Young, and com
pared it Will the bank books u show III
discrepancies Tie leans of the banl
Amount to - t76O2s. less than one-thr
Fare actually held by the bank, the either
ihc.Qng 10 banks from which the Sprin
Garden ohtain6l loans
The paying teller Of the bank, Harry 1
Turner testified that cash WAS taken frnt
:, the bank to purchase stock OF the ban
when II was offered at auction, and check
: were submitted for the cash IN She draWe
When the examiner was canning aronu
these womld hG charged u various account
81 rs a get rid nf them temporarily u
vas directed in this manipulation of Il
cash bY the president and cashier.
Assistant Cashier Mcclure testified to a
| overissueof 100 shares Of stock He Ct
, deay0fed to get President Kennedy 70 Ii
! ii. and when lhe latter said lie could II
c Mcclure resigned iii a letter q the dire
tors. stating tire oNerissue Of stock as
I reason This was on March Eth. ~
/ directors wanted Mcclure to stav hut
refused to do So. lie also testified
i meetings with the directors whore Il
i oyerissuc was discussed, President Ke
i nesiy excused himself by saying Il
II money derived therefrom was used to he
Z. the bank ont of tight place.
several directors and depositors testiti
i that they Signed accommodation notes +
Z the Kennedys on which money was be
1 rowed in large amounts They derived ]
g benefit therefrom, but are ruined by 4
10 failure. Francis w. Kennedy was held
10000 bail to answer and II. II, Kennel
III III Sf50n The latter got bail from
n father-in.law, but President Kennedy we
ii back to Jail.