The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-05-30
How Treasurer Bardsley, Of
Philadelphia, Was Ruined.
MORE CROOKED BANKS FOUND.
They Paid Interest On City and State
Money, Violating Law.
Directors or Spring Garden National to
be Prosecuted-A Clue to Fugitive
President Marsh-Buslness Failures
a Blow ut Trusts.


which half is secured by stocks.
NoRrHAaroS, Mass, May 29.-J. n.
Leonard q Co.. silk manufacturers, have
failed. Liabilities $lS5, 900.
PHILADELPHfA, May pa sub-commit-
tee of the finance committee of the city
council, which has been investigating
Treasurer Bardsley's accounts and finan-
clai dealings, resumed work today. George
HUM, OF the stock brokerage firm of
Giendennin & Co., produced the books Of
the firm and memoranda showing that in
1880 Bardsley purchased stocks aggregate
ing in cost $450000 From April s, 1890,
TO February %. 1891. the firm borrowed
from Bardsley the enormous sum of $92l,-
600. All OF this money, according to the
books of the firm, had been paid. Dur
ing the financial stringency Glendennin
d Co. advanced Bardsley $250,0O0, the
loan being secured by various stocks.
Bardsley wanted half q million, but they
did not have it. He then began selling
his stocks, and, the market being weak.
his losses aggregated $95,s46. Hum testi-
fled and said that at least $4,000 of stock
put up as collateral by Bardsley was not
bought through Glendennin's house, thus
showing that Bardsley had heavy dealings
elsewhere. city contractor testified
that the stone used on city contracts came
from quarry owned by Bardsley
Late tonight the prison physician was
summoned to Bardsley's cell, and finding
him very ill, recommended that he be at
once placed in the hospital, which was
done.
The Erening Telegraph says: Suits will
be begun in few days against Nelson r.
Evans, the director of the Spring Garden
National bank, who was so strongly urged
for the government appointment as
receiver of the Keystone; against Ephiram
Young, also director of the Spring Gar
den bank and against III. Albrecht, an ex-
director, now president of the American
Machine Company, which was seized
by the sheriff few days ago.
1t is known that nearly $780,
600 of Evans indebtedness TO the
bank is in his own and other persons
name and on practically worthless collat-
eral, and he has also ovcrdrawn his ac-
count. The exact relations of Young and
ex-Director Albrecht to the bank as debtors
has not been fully ascertained, although it
is known they are connected with fraudul
ent over-issue of the stock of the bank.
John Bardsley, city treasurer of Phila-
delphia, was arraigned in court today 70
answer the triple charge of misappropriat-
ing s39, 600 of the city's money, embezzle-
ment of 100000 and upwards of state
funds and perjury by violating
the oath of Office by loaning
the city money out at interest.
The district attorney said the books in the
treasurer's Office showed balance in the
Keystone bank of 100000. while in fact
there was only 100000 there. In the cash
drawer Of the treasurer's desk were checks
on the Keystone for 100000. These
Bardsley took to Bank Examiner Drew,
and asked to have placed to his credit
in the keystone. A similar state OF
affairs was shown in regard to the money
belonging to the city. District Attorney
Graham asked that Bardsley he held ON
a charge of misappropriating city funds,
and the magistrate agreed. The state
funds matter was then taken up, and it was
shown that Bardsley had loaned out state
funds at interest TO number of bankers.
Bardsley himself took the stand and said:
II did put money in the Keystone bank,
and will have to take what the law gives
me. got as high as 4 per cent. interest
for the money. I deposited money and
took due bills for it, as is
done every day, and when the bank
testified to that Bardsley kept private
account in the Seventh National Manu-
facturers' bank Chestnut Street National,
Peoples National and Farmers and Me-
chanics' National, Alexander held n con-
sultation with his client and decided that
he should tell the names Of the banks that
paid him interest. Bardsley said he had
been paid interest by all the above-named
banks except the Farmers and Mechanics.
The district attorney rested his case,
and said that as he was unable
TO prove today the charge of perjury, ho
asked that it be continued until June.
Bail was fixed at $4,000 on the charge of
misappropriation OF city funds, $35, 900 on
the charge of embezzling state funds, and
s., 900 on the charge of perjury. 1t is not
expected that Bardsley will be able to OBJ
tain bail.
Bardsley, talking with detectives. said:
81 tell you, gentlemen, have been in hell
for the past SIX months. l thought things
would come out all right, but they did not,
and am glad the thing is ended. Presi-
dent Marshs action has been a great disap-
pointment to me. He should have been
more courageous and remained in
town, but he has proven himself
coward by running away. /
never had thought about going away, but
will remain where am and accept what
ever punishment the law places upon me.
LYsx, Mass, May 29.-N. J. Mooney q
Co., manufacturers of ladies' and chill
dren's shoes, have assigned. The failure
is said to be heavy.
WmMNsToS, Del, May 29.-President
Marsh, of the defunct Keystone bank. al
Philadelphia, was in the town Of Smyrna.
mile below this city, yesterday. He iefs
on the train for Eastern Maryland, where