Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-06-09

NOTHING OF THE IMPENDING FAILURE AND
HAD No TRANSACTIONS WITH ME. BARDsLEY.
Postmaster General Wanamaker appeared
before the investigating committee of the Phil
adelphia councils yesterday afternoon and told
Of hrs connection with the Keystone Bank of
that city. Mr. WananIaker said that he had
held 2.5I5 shares Of Keystone Eank stock. which
he had lately surrendered. and which Presi-
dent Marsh had told him were of a fraudulent
issue. Mr.. Wanamaker said that ex-President
john c. Lucas had contributed them as his
share OF a purchase with Mr.. Wanamaker of
Reading railroad stock. Otherwise his rela-
tions with the bank hal beer simply those of
adepositor. 'In brief" a. lie said. in con-
GLIDING his statement Il a dePositor. but
not officer of the bank. ] did not know the
bank would faIl. nor did | delay touch IN
any WAY the appointment of a receiver. am
absolutely ignorant OF any transaction with Mr..
Bardsley. within without the bank. Instead
OF the bank losing penny by Inc have only
been its profitable customer"
Before the examination entered upon he
explained lie had prepared a connected state
ment. which. If he was permitted he would
first read and would then submit himself to
the Will Of The committee and would answer
whatever questions they would ask Jhe
privilege granted and Mr.. Wanamaker
ltittl tIt statement WHICH IDlloNs- Inc para
graphing Of the statement and its subdivision.
with the headlines over each, are Mr. Wanna
makers own.
DR. wANANAKER's STATEMENT.
Il am glad to have the proper opportunity
20 give such information / possess in the
matter under investigation by your committee.
i have noticed the comments of the news
papers. and am not in the habit of running
after gossip. but held myself ready to furnish
Ne Ill
mittee and the public. | am anxious aad
have as much interest any other TO prevent
our city treasury from losing the funds pro-
ylded by taxpayers
In order TO cover every point that has come
TO my notice. from any source whatever. and
that there may be question to what |
state. reduce to writing what l have to say.
and Will hand a copy of it to YOUR committee
for record, If YOU request. / may add Jhat
what here submit is practically what L have
freely stated TO many persons at various times
during the last few weeks.
CONNECTION WITH THE KEYSTONE BANK
Have been depositor only; never was an
incorporation. officer or director. 1 never owned
a share of the stock. l held until recently
twenty-five hundred and fifteen (2.5l5) shares
az collateral. as hereinafter stated.
DEPOSIT ACCOUNTS IN THE BASK.
The firm of John Wanamaker. consisting of
three persons had an account with the Key
stone Bank On this account the checks of the
firm were drawn. Though our conf
deEee at the time of the run in December was
mistaken. as business men it was. of course
more or less impaired after the run. We kept
up our deposits straight through the panic as
appears from the following table taken from
our deposit books Giving table showing total
deposits up to March 20. date of closing to be
q .263. sy6-s9) knowing. however. the pub
lie did generally. that Mr.. Marsh was confer
ring with shareholders during January to raise
assessments on the bank stock. and further
knowing IT was common rumor that the bank
was short. We gradually decreased our balance.
Our line of discount had run OFF at the
bank. and We felt under no special obligation:
moreover. We were using our money at this
tune. reducing our discounts at all the banks
Our course with the keystone Bank was solely
dictated by the ordinary prudence of business
men,
Il never knew Of any irregularities in the
Keystone Bank until after the run. when Mr.
Lucas indebtedness was made known to the
directors. Us / was informed. and that his estate
intended to reimburse the bank. which | sup
posed and was informed il had ample means to
do Alta later period was told BY Mr. Marsh
the president. for the first time that he feared
some of the stock held as collateral was not
properly issued.
Il had no knowledge that the bank was going
to close when 1t did The first knew of it was
when it was made public by telegraph from
Philadelphia after the doors were shut
DISCOUNTS.
''All discounts granted to my firm or myself
were made in the customary manner II the
directors were ignorant of the fact we we're
not aware of their ignorance.
On one occasion Mr.. Marsh called on us
without solicitation. saying that he wanted
SeOOOO OF our paper. not for the keystone
Bank. but. as we understood. for country banks
other of the banks cUrresponients We
gave II TO him. For some time We pressed the
bank To turn over the proceeds, and finally got
thea by piecemeal. Before this paper was
PAID We learned that 1t III the keystone
B-nk. and We had intimatiOu that II had
Daen secured from Us under some pressure foV
use al The clearing house. For these loans W.
were paid per cent interest, and they We re all
paid of IS they became due
No OTHER LOANS.
Il never borrowed personally from the bank.
except on the one occasion above stated: the
paper appearing in my personal account WIS
paper received in the course of business with
which l ettled Mr.. Lucas indebtedness TO me
by reason of his having failed 10 Keep his agree
nsUnt - hereafter stated. This was paper re
cclved rom our customers in the usual cours,.
o! business. for goods sold and delivered. nor
did the bank any of Its officers ever make
any contribution or donation to me OF any kind
~ amy time.
RECEIyEEsHIP.
Il never suggested any person, directly or
Indirectly, to the Secretary of tine Treasury or
the controller for the receivership of the Key
stone Blnk, Or to any one else nor did in any
way endCayOr TO influence the appointments
remotely or Otherwise.
BAIL FOR MARSH.
Il did not know that my brother had entered
bail for NJ Marsh until ! read the fact in the
newspapers while N the west travelling; NO one
ever communicated to int anything about lny
brother or any other person becoming bail for
Nh Marsh. nor dld ] or my firm ever CONSIDER
directly or indirectly, the subject of giving or
G. ting bail for Mr. Marsh. / was never an
pied 20 TO 30 Sc On account Of nv absence il
rs not beeE my pleasure 10 see Mr. William III.
"anairake- for six months past until TODAY
when saw HIM IL this roOm and hay. never
communicated with him or auv one represen,-
ins him Oh the subject OF his giving bail
70 Nh. BARDsLEY
II never had a business transaction with Mr.
BarGs!ey individually or as city treasurer or
with any one representing him in either ca
Pdcity. Neither had ms firm, cxceut thar he
hiss small accounts for merchandise at the
store. payable monthly. | never subsc-ibed
al! money for his benefit at any time.
As To Nh DREW.
Il have esteemed him highly for wears OF his
reputation IN Philadelphia as a bank examiner
Alter the bank failed saw him twice once AZ
a. my solicitation and once when he called O.
his own option never spoke 10 him on either