The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-06-09

feared some of the stock held as collater
al was not properly issued.
'l had no knowledge that the bank was
going to close. The first ! knew of it wa:
when the statement of the failure was
telegraphed from Philadelphia All dis
counts granted to my firm or myself were
made in the customary manner. II the
directors were Ignorant Of the fact, we
were not aware Of their ignorance. | have
not been active in mercantile business
since March, 1889, and know but little of
the details. From best information L have
the highest amount of single name paper
was SO, 600, up to February 1890 In Feb
ruary 1890, in addition to this, / had dis
count of $4,000, for five months, which
was understood to be personal to me in
dividually.
ANY discounts beyond this are not
properly chargeable to our account and
may arise from the following circum-
stances: On one occasion Mr.. Marsh wanted
$50, 900 Of our paper, not for the keystone
bank, but for country banks or others of
the bank s CORES spOndents. We gave it to
him. We pressed the bank to turn over
the proceeds, and finally got them by
piecemeal. Before this paper was paid,
we learned that it was in the Keystone
bank, and that it had been procured from
us under pressure from the clearing house.
81 never borrowed personally from the
bank, except on one occasion above stated.
The paper appearing in my personal ac-
count was received in the course Of busl-
ness, with which I settled Mr.. Lucas in
debtedness to me, by reason OF his having
failed to keep his agreement as hereafter
stated. This was paper received from our
customers in the usual course of bust
ness"
Continuing, Mr.. Wanemaker said that
neither the bank nor any Of its officers had
never made any contribution to him OF
any kind. He never suggested any one for
the receivership of the keystone bank, nor
did he in any way influence the appoint
ment. He did not know that his brother
had entered bail for Mr.. Marsh until he
read it in the newspapers when he was
travelling in the west. Neither he nor his
firm had ever considered the subject of
giving or getting bail for Mr.. Marsh, and
from Mr.. William H. Wanemaker on that
subject He had never had Il business
with Mr.. Bardsley or any one
him; neither had his firm.
He had never subscribed money for his
benefit at any time.
He knew Mr. Drew and esteemed him
highly as a bank examiner. After the
banks failure ne had seen Mr.. Drew
twice, once at his solicitation, and once at
Mr.. Drew's own desire, but he had never
spoken to him upon the subject o. his ac-
counts in the bank. The question discussed
on those two occasions was the establish
ing of a new bank with new men. He
lWanamakerl had not been instrumental
in delaying the closing of the bank or the
appointment of the receiver Continuing,
Mr. Wanamaker's statement said
Il knew Mr.. John c. Lucas from his
early manhood and never he ard Il whisper
against him until he was dead. During
1887, believing him to be rich man, |
told HIM of my great desire to assist in
the independence of the Read
ing railroad property. / invited him to
Join in the purchase of certain holdings
IF stock that were held by persons mimi
al to the reorganization of the property.
Dur agreement was verbal. Mr.. Lucas
was to supply certain sums of money as
called for them, and deposit them to
my personal account in the Keystone bank.
In accordance with that belief [ drew
checks on that account to the extent of
,bout 5000 against money which | be-
ieved WAS deposited by him, as per under
standing. Upon several occasions he
brought me stock of the keystone bank,
Is it was not convenient for him to furnish
ash. As 4 result, when he died, | held
,,5l5 shares Of Keystone bank, so received
rom him. After his death | found he had
lot made deposits to my credit, as agreed,
md that my account was oVerdrawn. |
.ould not explain this and attributed it to
ONE oversight. | Immediately made the
.ccount good by closing it with CONNER
ial paper received in my business, which
vas all duly paid.
Mr.. Lucas therefore did not, in reality,
urnish penny to me for the purchase
# Reading stock, and all | had for his
hare in the operation were certificates of
took of the Keystone bank, left with me
5 collateral held this stock subject 20
n adjustment of the account. Mr. Marsh
nd Mrs. Lucas called on me in relation 10
but no settlement was made No intima-
ion was ever given that the stock was ir-
egular until after the run on the balk in
december Mr.. Marsh called it in ques-
ion and desired it returned to the bank.
This declined to do; first, because l had
btained it from Mr.. Lucas individually rs
is private property; second, because I had
% proof th9C the stock was over issued |
nd, third. If it was over issued, | was by
o means certain that my title against the
ank was in any way affected | simply
onsidered the statement as an extreme
Hort 10 get possession Of the stock which |
felt justly entitled to retain | main
aimed this position until the bauk was
losed, and then. recognizing that the !
tOck had no mOneyed value, and being |
lrther assured that if il was surrendered |
D the Lucas estate it would help in the /
of the bank, saw nothing /
D be gained by retaining it and thereupon /
lrrendered ii as requested.
Il never had any business operations |
nth Mr.. Marsh individually. or with any |
rm or corporations with which he was /
except the bank" Mr. Wana- |
laker then detailed the efforts Mars h |
lade to get financial assistance from him, |
nd said: About S o'clock on the night /
receding the day the bank closed, Mr.. 4
iarsh called on me in Washington, to say
nat he had been to the controller and in /
,rmed him of his doubt about the stock. i
ad asked me whether I could in any way /
clip the bank. ] said no, aud the inter /
lew closed IN three minutes. ! had no l
with living being be- /
yeen that time and closing of the bank. -
Ia conclusion, Mr. Wauamaker said:
In brief, I was a des1ositor. bnt not an 1
heer of the banker. I did not know the 4
an6 would fail, nor did delay or touch
any way the appointment Of receiver
am absolutely ignorant of any transae-
on with Mr.. B&UJisley.. within or without
le bank. Instead of the bank losing a
Emmy by me | have only been its pr0fta-
e customer. On crOsS-examination Mr.
anamaker said that when he was tryiu.
, dispose o. the keystone bank stock he
alieved Is 10 be Of s regular issue and in
ie absence Of truth to the contrary still
=IIeved Il SO TO be -