New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-09

been active In my mercantile business since March 1889
and but little Of the details From the best nfor-
nation 1 have highest smeunt Of single paper
was $4,000 up February 1890. In Fob
ruary, 1890 in addition to this 1 had dis
count Of $4,000 for Ave months. which was
understood to personal individually the time
received It. Any discounts beyond this not properly
ehsrsesbe account, and may arise from the fol-
lowing Circumstance;
On one occasion Mr.. Marsh called without So
cation. saying that he wanted 100000 Of our paper
not for the Keystone Bank, but as understood Ior
banks other Of the banks correspondent we
gave IL 10 him. For time we pressed mo oahA
the proceeds and finally got them ey pece
meal Before this paper was paid we learned en'' - "
in the Keystone Bank, and had an intInsueh "S' i"
secvred from pressure for use AZ
the Clearing House. For these loans we psa gTr 'sH'
interest, and they were all paid on as they occ""e u
never borrowed personally from the oank eAeep' Y"
the occasion above stated paper appearing III ny
personal account paper received In tho couie. "
business with which 1 settled Mr. Lucass haeo~
edness 10 me. by reason Of his having iaeo " ~
hts srrecmut "A hereafter stated. This WA paper
received from our customers che usual course OF ous
ness for goods sold and delivered, nor did me oa.A
or any Of its officers make any conuiou"on vi w"
nation to me Of any kind ct any time .
have suggested any person orec"y vi ~
directly TO The Secretary Of the Treasury or the Oon
troller for the recevership Of the Keystone bsnA' " W
any one else. did in any way nuesNor W M
eua,os tbs appontnent remotely or Otherwise
aa No. know that had entered BAH Tor MI
Marsh until read fact in the newspapers wnile ~
the West travelling; one ever communicates W w
ANYTHING about my brother any other person oeos
bail for Mr. Marsh nor did or my firm ever consiue, w
reey or indirectly the subject Of giving or getting pail ol
Mr. Marsh. applied to to 40 So oh Sooou n
Of my absence It been my pleasure 70 see i'
William H. wanamaker for six months past until to-oaJ'
,.hon saw him I'm this room and have never comfnuni-
Gated with him any representing MN on "ie SUI
,ect OF his giving bail. never had business trans
.c.on with Mr. Bardsley individually as City treas
urer or with any representing him in either capacity
Neither had my firm, except that he has small account
Tor merchandise at the store payable monthly never
subscribed any money for his benefit at any time
As TO Mr.. Drew esteemed him highly for years
a, his reputation In Philadelphia bank examiner
After the bank failed him twice, once at my solicit
tation and when he called at his own option.
never spoke to him either occasion upon the subject
OF nv accounts the bank the discount or The shares
n. stock held by me collateral, asked him to favor
me or thy others any The question OF establish
ing a new bank with men was the subject OF our
conversation at both Of these interviews was not
instrumental delaying, TO the extent OF one minute me
closing NJ the hank or the appointment OF receiver
knew John c. IN business way from his early
manhood and heard whisper against his integrity
until after he was dead. During 1887 to the best Of my
recollection upon the belief that Mr.. Lucas was rich
man and the knowledge Of his investing In various enter
prses as capitalist told him Of my great desire to assist
in preserving independence Of the Reading faroao
property and that thought that the purchase OF certain
holdings Of the stock that held by parties ninlcl
To the reorganization be profitable and useful and
1 invited him join in purchase on joint pur
chase The agreement between verbal and to this
effect rhat Mr. 10 supply certain sums OF
money as 1 called for them and deposit the same
n nv nsrsonal account in the Keystone Bank. In
accordance that agreement from that tme' arc"
checks on account 10 the extent OF ABOUT eooVV
against the money which believed deposited by him
as per understanding Upon several occasions when
notAed Mr. Lucas that under agreement money was
needed he brought Of the Keystone Bank which
he requested in lieu OF the money as IL was not
convenient him to furnish cash at that Time, 1880
AS result when he died had in my possession 25lo
shares of the Keystone Bank received by me rom
him After his death found that no had not maze lhe
deposits to nv credit he agreed and that nv account
stood overdrawn When discovered this could not hnd
any explanation. and attributed it 10 some oversight
Immediately made the account good ov closing IL WIZ
commercial paper received in business when was an
duly paid Mr. Lucas. therefore, did not IN reaN FURNISH
a nennv to me for the purchase the Reading stock
that l hold all had for his share In the operation
was Of stock Of the keystone BANK e
with me as collateral. held this bank STOCK subject 10
an adjustment account, and Mr.. Marsh and Mrs
Lucas called in relation to IT, but no settlement
made. the former very urgent NO lntl'
given that the stock was rreguiary Is
,ued until Mr. Marsh shortly the the bank
IN Ueceu called in question and desired tO nave
the stock the bank This declined 70 do
fist had not obtained 1t from the oank out
from JOAN c. individually as his private property
secondly because cid not stock In my pos
session was oyerissued and proofs were ever offered
that such was the case, and thirdly, because was
by no means certain that If tile stock
the bank would be any way affected
simply considered the statement extreme effort to
u possession the stock, which felt justly entitled
TO regain 1 maintained this position until the bank was
closed recognizing that the stock had moneyed
value being further assured that IL 1t was surren
dercd the Lucas estate 1t would help in the rehaba
ton bank, nothing be gained by retaining
g. hereupon surrendered it requested. could In
this way nothing myself that which surrendered
was valueless me. but might possibly help in the
reorganization of the bank and save others from loss
Being collateral holder under law l could not be
assessed upon the stock hence any supposton that
erted avoid assessment is without ourda
ton in fact
never had any business operations with Mr.. Marsh in
dividuay with any firm corporation with which he
connected except the bank OF which he first cash
Ter and then president him but slightly until after
sickness and death when he became the active
manager of the bank and had most to do with settling the
For tho last and half have left
my mercantile business almost wholly my partners. Oc
casioaally Marsh would call Monday morning.
city, Last autumn he claimed that the bank
lad strained help and that he wanted
help and paid OF al discounts fast they fell
due Later when the came and he gradually lost
by withdrawal only his discounts but all but two
Of directors, he used and to Arm
ing had 80 lie assured everything
was right precisely he did the Clearing House After
the bunk took the Lucas the John
c. Lucas Building" and seashore property. he
endeavored TO get me to buy enc or other or
both these properties. He pressed 10
Ioen nv paper the Clearing House recover
other collaerals pledged there all Of which declined.
His chief argument that II the bank did go
the stock Of bank that held collateral would be
worthless. stated that II 1t proved that any Of the
stock In my hands not properly issued he believed
he could get stock from others ard make It right /
guessed he the stock held by the Lucas
did not care the stock, but wanted the Lucas
TO settle with and take It, therefore declined TO
buy the real estate.
About O'Clock The night preceding the day the bank
closed Mr.. Maxh called me IN Washington say that
he had been " Controller apd informed Of his
doubt about stock. and asked me whether
any way help bank. said no. and the interview
closed In three minutes l had communication With
a living being between that time and the closing OF the
hank | know nothing about the amount pur-
clases OF Reading securities made by Mr. Lucas
mart from me except that they were wimpor.
tant / believe the profit he made on
M