Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-06-15
KEYSTONE BANK.
ICoutinued from First Page

rated any measures to OBTAIN tne assess
men:, and no portion has been paid in"
In the same letter Drew says he has
advised acceptance of a cash offer by
the bank of $3.50, 900 for Sea Girt, New
Jersey, property. This letter by Mr..
Drew concludes thus: 81 am greatly dis
appointed In finding so little active sup
port given by the directors in an effort
to rehabiltate the bank. If you can
make such orders upon the directory as
will compel an earnest and effective CO.
operation on their part, | shall be glad
TO enter them.
The above reached Lacey on the 10th,
and three days later he telegraphed
Drew to close the bank. This brings
the narrative up to the close Of the bank
on the night of March 10, since which
all its assets have been in charge of the
officers of the general government and
properly kept and cared for. The
Comptroller has been criticised for
three things:
First-For allowing Mr.. Marsh to re-
main in Office after his confession and
not causing his arrest.
Second-For delay in closing the
bank.
Third-For delay in appointing a re-
cever.
As to the first matter complained Of,
have this TO say, that am not here,
charged with any responsibility in con-
nection with criminal prosecutions, as a
bank examiner is held to have done his
euty so soon as he lays before the United
States Attorney any facts involving
crime which may come to his knowledge
in the discharge of his duties. Every
bank examiner is instructed and eX-
pected to do this, and / could not avoid
the conclusion that Mr.. Drew had dis
charged this duty after reading his let
ter of February "A, in which he says that
he was assisted in securing settlement
with the Lucas estate by the Hon. John
b. Reed, United States District AttOr-
ney, whom he had employed to aid him
in the transaction.
had the right to suppose that from
that time on to the final arrest, that the
United States District Attorney was
duly informed as to Marsh's conduct,
also the clearing house committee, with
the directors of the bank, who were
really the responsible parties, and the
examiner.
Second-In regard to this matter,
desire to say that the Comptroller can
only act in accordance with law, and so
far as this case is concerned, he is gov
erned by the provisions of section OF
the Act of June 80, 1876, under which
the Comptroller could not name re-
ceiver unless satisfied OF the banks in
solvency.
Third-This criticism is OF very lit
tie Importance in any event, ana mas
been pretty fully discussed already.
In closing this branch Of the subject
in justice to one whose name has
been brought into the discussion of this
failure, | desire to say that Hon. John
Wanamaker has never directly or in
directly suggested or solicited one days
delay in the closing of the bank nor in
the appointment of receiver.
In concluding this statement, | deem
it my duty to say that in my opinion the
several reports made by the Bank EX-
aminer did not reflect the true condi-
ton Of the Bank under consideration.
The degree of blame, if any, which
properly attaches TO Mr.. Drew, is yet
TO be aScertained.
In the meantime, however, he has
been directed to suspend examinations
until the facts are submitted and con-
cluSon reached.