Omaha daily bee., 1891-05-23
PHILADEL rHia BANK FAILURE.
Pubic Interest i'm the Sensational
DeYelOnments Unnhntcd.

PHILADELPHIA, May 22-Public interest in
the sensational developemcnts in the affairs
Of the Spring Garden bank and the Key
stone bank, the fight of the indicted pres
ident of the latter institution and the resig-
nation from Office of City Treasurer Bards-
ley continues unabated.
William B. Wanamaker, one of Marsh's
bondsmen, this morning offered a reward OF
$1,000 for the arrest of the fugitive and has
employed detectives to run him down.
Attachments were taken out this morning
against the Bradford mills. of which City
Treasurer Bardsley:is owner by two of his
sureties. Bardsley has made an assignment
Of all his property for the benefit of the city
Mr.. Bardsey made the following state
ment this morning In reference to the Clamor
note, found among the assets of the Key
stone bank, which F.. j. Clamor believes to
be forgery: "Some years ago f.. j. Clamor
induced me to go into the brass foundry busl-
ness for the purpose of assisting him. The
firm name was f.. j. Clamor ~ Co, myself
being the company. | was to furnish the
capital and to sign all notes, checks and
other papers During tho progress of the
business it was necessary to issue notes upon
which to raise money which was done IN
number of instances The business not prov
ing profitable or satisfactory, it was discon-
tinued and sold out. The firm never was
dissolved. AS the notes fell due paid them,
as | was responsible for all the debts of the
firm. Under the agreement 1t was not the
duty OF MIR. Clamor to sign either notes or
checks, and, to my knowledge, he never did
sign any,
The clearing house due bills issued by the
Keystone National bank and given to Mr..
Bardsley at the various times that the
1890, 900 of state moneys were deposited are
not worth the paper they are written on
unless the assets of the bank include more
than the deposits as shown by tie ledger
These due bills are issued by the banks be-
longing to the Philadelphia Clearing House
association for the accommodation of
depositors. In New York certified checks
are used by the banks, but in this city, when
depustor desires it, due bill is issued uy
bank, the bill being signed by one of the
tellcrs and countersigned by one of the
officers of the bank These bills can be de-
house settlement the next day, If the issuing
banks has a credit, the amount of the due
bill is deducted. If Mr.. Bsrdsley, when he
received the clearing house due bills from the
keystone bank, bad Immediately deposited
them the bills would have been presented
at the clearing house the next morning and if
the Keystone bank had been creditor
to the amount Of the bills they would have
been paid, but this process would, OF course,
have been simply withdrawal of the money
deposited by Mr.. Bardsley in the bank. Mr.
Bardsley knew or should have known that
by keeping the due bills he was simply
specializing upon the solvency of the Key
stone National bank. The bank Is not at
this time creditor at the clearing house to
the amount of the due bill now held by Mr..
Bardsley and they are therefore worthless.
They are simply an obligation on the part of
the bank to pay the face value of the bills
and amount to nothing moro than ordinary
promissory notes. The bills held by Mr..
Bardslev are in effect promissory notes of
the Keystone bank and cannot be paid unless
the assets yield more than the deposits.
AT the Office OF the United States marshal
it was stated this afternoon that the rumor
that the absconded president of the keystone
bank has beon arrested in Montreal had
been Investigated and found to be without
foundation.
The liabilities of the Hill shoe company,
which failed yesterday, are now given as
5000, 900 instead of Si0O,O00 the first figures
The assets delivered to the assignee by the
terms of the assignment amount to $500, COO
Lewis Hill, member of the firm, denies
that the failure of the Davis company OF
Lynn, Mass, involving the Hill company for
$500, brought about the failure He SAYS
bad crops, poor collections and the stringent
money market are the principal causes.
The funeral services of William Villas Hill,
the president of the insolvent company, who
committed suicide Immediately after the
assignment, will take place tomorrow.