The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-06-03
BARDSLEY'S METHOD
Of Conducting the Finances of
Philadelphia
BANK EXAMINER DREW SCORED
For the Loose Manner in Which He Examined
the keystone's Affairs-Was there
FayOritism

PHILADELPHIA, June 2.-The CITY coun-
CHS committee investigating the method Of
ex-Clty Treasurer Bardsley, continued its
inquiry this afternoon, the keystone bonds
doings being under inspection. Bank Ex-
amlner Drew stated there were 2,5l5 shares
OF the so-called bogus stock It was that
that should have bee cancelled, and is lot
TECHNICALLY an oyer-issued stock Ii was
mostly IN the name OF John c. Lucas. None
Oh IL was ever IN the name of John Wanna
maker, and witness did not think he was
ever stockholder, nor was William H.
Wanamaker: so far as he could recoliect
Mr.. Alexander, counsel for ex- Treasurer
Bardsley, cross examined Drew very
sharply. Drew said he had made semi
annual examinations of the Keystone bank
Tor the past ten years. He was not pre-
pared To say that it was not indebted TO the
amount OF 100000 or $500 to other
banks during the past three or four years.
do you ever remember before Lucas
oled, SAID Alexander, having once called
on the keystone bank week too soona"
Il do not remember such letter. re-
piled Drew.
Ibid you not come to Philadelphia once
to examine the Keystone bank and then
before examination week g,
mo, sir"
AT the close of Drew's examination Coun-
Gilman Elting offered a resolution that the
mayor write to President Harrison, asking
him TO order an investigation of the conduct
of the treasury department in connection
with the Keystone bank affairs; ordering
the production of all accounts of the bank,
and the appearance of Comptroller of the
Currency Lacy before the committee
Citing made vigorous speech in defense
OF Morgan. He said if the banking law
was enacted upon and construed as in
the Keystone case, there would be little
protection for any depositors. BY the con-
tession OF Marsh in January, the treasury
department became aware Of the Keystone
rottenness, yet for ninety days thereafter
the bank was allowed To remain open and
the city and citizens of Philadelphia invited
to deposit their money. Some people who
had every opportunity to know the story OF
the rotten bank had every chance to get
out while people who could not know the
story had every chance to get in. IL Is the
most extraordinary action on the part Of
the general government 1 ever heard Of 1
am not going to say whether Examiner
Drew or Comptroller Lacy was responsible,
but between them the bank was kept open
after the fraud was known. Every obstacle
has been thrown II our way, We can look
at the treasurers accounts, but we want to
look at the others and find out other men
doing in those ninety days after the frauds
were known and while the city of PhiIa-
delphla was handling her millions in that
bank"
One OLuer memDeE OF IE9 committee voted
with Fitting and four against, so the matter
was dropped for the present, but it in ex-
pected co De revived shortly.
Paying Teller Thomas, of the Keystone
bank, said another employee and himself
were kept very busy running between the
Keystone and Spring Garden banks with
cash to prepare for the visits of tie exami-
ner. An important point in Thomas testi-
mony was to the effect that during his siz
months connection with the keystone
Examiner Drew dropped in about twice q
week.
President Singerly, of the Chestnut
Street National bank, said Bardsley was
not paid any interest on what city money
he had in the bank. He had no money on
state account on deposit.
The latest sensation as 20 the outcome of
bank matters is that the validity of the
clearing house agreement between national
banks is shortly to be tested in the United
States courts.