The record-union., 1891-06-09
Wanamaker Relates His Dealings
With the Concern.
HIS FIRM WAS SIMPLY A DEPOSITOR
OF THE BANK.
Ono of tho New Orleans Jury Bribers
Convicted = Great Destruction in
Texas Resulting from Heavy Rains
-Bardsley, Philadelphia's Default
ing City Treasurer, Indicted for APP
propriating the City's Funds.
Special to the REcoRD-USrox.

WASHINGTON, June S.-The President
had conference to-day with Secretary
Foster and Comptroller Lacey in regard
to the cases of the keystone National
Bank of Philadelphia, as result of
which he dictated a letter to Mayor
Stuart, acknowledging the receipt OF the
resolutions of the Common Council call
ing Governmental investigation of the
bank, and saying that he will facilitate a
thorough examination OF the affairs of the
bank to the full extent of his power, and
will see that any officer of the Govern
ment found guilty of wrong-doing in that
connection is held to strict accounta-
bility for his action.
wANAMAKER's CONNECTION WITH THE
BANK.
PHILADELPHIA, June S.-A large crowd
was present at the meeting of the Inyesti-
CATION Committee to-day, attracted by
the fact that Postmaster General Wana-
maker had promised to appear and
testify to all knowledge be had in refer
ence 10 the banks management.
Mr.. Wanamaker was DromptIy on
hand with his son and partner, Thomas
Il. Wanamaker, and at the conclusion of
the examination Bank Examiner Drew
read his statement, which he said was in
answer to all allegations that have con-
nected his name with the keystone Bank.
and was at the same time a full and COM
plete statement OF all his transactions
with the bank.
His statement said, in substance: 81
have been depositor only. Never an
officer or director, and never owned a
share of stock, but held, until recently,
Z,5l5 shares as collateral. The firm of
John Wanamaker, consisting of three
persons, had an account with the Kew
stone Bank, and the firms account, by
arrangement with the bank, was made
responsible for Mrs. Wanamaker's checks
upon the bank, which, for convenience.
were kept in separate account. 1t was
substantially one account under two
heads. Mrs. Wanamaker's account could
not be overdrawn while the firm account
had balance to its credit. Under these
circumstances our account was not over
drawn when the bank closed. according
to our books, which show balance in
our favor.
1T is true the bank charged against our
account at its settlement, a short time be-
fore the failure, S., 900 which no one at our
office knows anything about, and which
we refused to recognize until it is ex-
plslned. We kept up our deposits
straight through the panic"
Mr.. Wanamaker then read statement
showing their deposits in the keystone
Bank for the months of November, De-
cember, January, February and up to
March 10Th, reaching total of 81 ,363. 1896.
These deposits had been gradually de-
creased since January, knowing, as the
public did generally, that Marsh was
assessments, and further knowing that it
was a common rufnor that the bank was
short.
''Our course with the keystone Bank.n
said Mr.. Wanamaker, twas solely die
tated by the ordinary prudence of busi-
ness men. 1 never knew of any irregu-
larities in the keystone Bank until after
the run, when the Lucas Indebtedness
was made known to the directors, and I
was informed that his estate intended TO
reimburse the bank. Later l was told
by President Marsh, for the first time.
that he feared some of the stock held as
collateral was not properly issued. l
had no knowledge that the bank was
going to close when it did. All discounts
granted to my firm or myself were made
in the customary Manner
Mr.. Wanamaker said that from the best
information he has, the highest amount of
a single named paper held was S50,6 up
TO February, 1890. In that month, in adj
dition to this, he had a discount of
$4,000 for five months which was under
stood to be personal to him individually
ILlc LIiIlS ne IcC0lNGu IL. ANY discounts
beyond this were not properly chargeable
to the firms account. On one occasion
Marsh called and said he wanted SGT, 900
of the firms paper, as they understood.
for country banks. They gave it to him,
and for some time pressed the keystone
to turn over the proceeds and finally got
them by piece-meal. Before the paper
was paid they learned that it was in the
Keystone Bank, and had an intimation
that 1t had been secured for use at the
Clearing
Wanamaker said he never borrowed
personally from a bank except on the
one occasion above stated. The paper
appearing in his personal account was
paper received in course Of business.
EIn conclusion, Mr.. Wanamaker said
instead of the bank losing a penny by
him, he had only been its profitable Gus
TONER Responding to questions by
Elting. Wanamaker said he borrowed
money on the stock Lucas gave him
until there was a question about its YER
ity, and then he gathered it up and held
it.
Elting said that he had been told that
100000 or upward Of money was obtained
at one time from Bardsley by Marsh and
loaned to Wanamaker.
The latter responded that he never
heard of it. He never had cent from
Bardsley as an individual or Treasurer,
directly or indirectly, through Marsh or
Jones or anybody else.