Telegram-herald., 1891-05-23
AFFAIRS BADLY MIXED
Fhli4dslphia Finances an . Pre-
earioas Condition
FINDS OF The QT iEER CITY MISSING
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PHfLADEr PafA. May "A ereat
sensation was created in fnsacial
circles when IL became known Thurs
day afternoon ta4t 6. ". Marsh.
president OF the dsfunet Key.tous
national bank, had forfeited his
bail and fed 10 parts unknown
The excitement Was intensified an
hour later. when brief line
was read In the common coun-
ell OF the city from CITY Treasurer
Bardsley announcing his resignation of
his Office. - taAe effect on the Soth inst
The sensation viii BE- increased to-day
when the people read u statement
Ia the morning papers which Mr..
Bsrdsley has fust given out Ia
which hs virtually confesses that
he has embezzled $3.50, 900. money be-
longing - tho state. ana announces his
purpose % assign his property and
such restitution as Is in bis power.
Since the failure Of the Keystone bank.
La which Bardssey had on deposit
cal. COO belonging TO the city. he
has confessed that he had deposited. in
the same institution. in his own name
and mixed up with his private account.
al the state money ne has collected.
but he has persistently refused To tell
the amount. until In his statement just
issued he places the amount so
lost at $3.50. 900. As the state
ment of the bank shows no such
amount OF deposi. % the credit of
John Bardsley at the time OF the
failure. the inference Is irresistible
that Mr. BardsIey has drawn the
money out and used IL In fact. as be-
fore stated. be has admitted that the
state funds were deposited to his pri-
vate account in the bank
Mr.. Bardsley is responsible for the
following sums; Due the state for
taxes. css1, 200; due the city for de-
posits in the keystone bank. SAL, 600;
due the city for deposits in the Spring
Garden bank. $40, 600; total, 81. 5i2, 900.
The revelations regarding the state
funds were complete surprise TO
Bardsley's friends What he has done
with the money nobody except his
counsel knows The retention and loss
of state funds is misdemeanor. and
Bardsiey is prepared To go 10 Jail
IL needs be. 1t is thought that this
thing win lead TO trouble for the state
treasurer and auditor general, who
should have compelled Bardsley to
hand over the state funds before.
SO far as the city funds are
concerned the city will lose more than
half million of dollars In addition TO
the above statement Bardsley has a
credit OF 500, 900 IN the keystone bank
10 his own name. The man has not had
100000 In cash for years, and this is
supposed 20 be city money.
Mr.. Bardsley says that between Feb
ruary and October. 1890, he deposited
with the Keystone bank the sum OF
sS90, 900 which he had collected for the
state. lie received for this sum
clearing house due bills, which
were still in his possession. In adj
dition To this sum he had on deposit
with the bank $500. 900 belonging to the
city, a private account and the funds
belonging To the Bradford Mills Com
pany. in which he was interested Mr..
Bars.sley Gays that when the reports
that the bank was in trouble began TO
circulate IL was impossible for him
to reduce these deposits and like many
others he was caught in a hole which
he was wholly unable To see and pow
or s 20 avoid He concludes that in
view of the existing state of affairs
there is nothing left but 10 make an
assignment. and resign from Office
lie has turned over To the rightful
parties his property and holds him
self in readiness 70 do all he can to as
. ~. "a
his office. Apparently every cent of the
money deposited in the bank has van
ished. The clearing house due bills
which Bardsley holds are. IL is said,
worthless
When Gideon w. Marsh was presi-
dent Of the keystone national bank
who Is accused OF classifying the returns
Of the bank To the comptroller of the
currency. was called at the examination
Thursday morning Mr.. Marsh failed
10 put in an appearance. His counsel
stated that he did not know where he
was. and that he had not seen him
since last Saturday. Mr.. Marsh was
under SO. 900 bond 70 appear at the
examination. As his toudsmen were
unable 10 produce him his bail was de-
elared forfeited District Attorney
Read said in the absence OF Mr.. Marsh
that he would go on with the case
against the ex- assistant Cashier. Charles
W Lawrence. who is charged with the
same offenSe.
The nou-appearance at the hearing of
Marsh. the accused president OF the
bank. caused great sensation. His
fight and forfciture of his bail were
. perfect surprise 10 his counsel, his
bondsTnen aud bis friends As far
as can be learned no one
seems to know anything positive OF
Marsh's movements since he left the
courtroom Saturday last at the eonclu-
sion ~ the hearing that day. Marsh
formerly lived a. Ridley Park. n subur-
ban town near here. but since the
trouble into which he hss fallen he
sold hts property there and moved into
the city. Some days ego he sent his
family 60 Atlantic City. but d1iGeus
search there failed % fnd them.
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