The Wilmington daily Republican., 1891-06-09
JOHN WANAMAKER.
The Postmaster General Before
the Bardsley Committee.
NOTHING OF VALUE LEARNED.

The Ohlcial Had No Connection
with Bardsley Except As a Custo-
mer at His Store, and Had Taken
No Active Interest In the Appoint
ment of Receiver,
PHILADELPHIA, June 0.-As each day
adds its record to the days that have
gone before it becomes more and more
evident that the mismanagement Of the
broken banks will have q far reaching
effect. 1t is now learned that Frank
Brenton, the ex-treasurer of the Mill
ward-C Cliff Cracker company, has been
eluding the officers of the law for more
than week. 1t is believed that he has
left the city, though William Fl. Lex,
counsel for the prosecution, openly says
that he believes Ephraim Young, who
was arrested on Saturday, knows where
he is, and is responsible for his disap-
pearance. The charge against Brenton
is distinct from that upon which Young
was arrested, though he is also connected
with that. 1t is conspiracy with Presi-
dent Kennedy to defraud the company
out of $52, 900. This also adds another
charge to the list against Kennedy.
Mr.. Wanamaker's Testimony.
Postmaster General John Wanamaker
appeared before the Bardsley investigat-
ing committee yesterday afternoon, and,
except as the passage of time may be
taken as measure, the committee is as
far away from the discovery of the
whereabouts of the missing city and
state money as it was when it opened its
session.
Mr.. WanamalSer made very lengthy
statement of his connection with the
Keystone bank and collateral affairs,
which was followed by very extended
cross examination of the cabinet officer
by Mr.. e. Hing and other members of
that he had held Q ,515 shares of Keystone
bank stock which he had lately surren-
dered and which President Marsh had
told him were of fraudulent issue.
Mr.. Wanamaker said that they were the
contribution by ex-President John G.
Lucas considerable time before his
death, as his share toward joint opera
tion by him and Mr.. Wanamaker for the
purchase of Reading railroad stock. Mr..
Lucas had agreed to put cash into the
speculation, but had furnished this stock
instead, and upon it Mr.. Wanamaker
had borrowed as collateral. He had
surrendered it and was now carrying
the whole load Of the speculation him
self.
Had Taken No Active Interest.
In addition to holding this stock which
Mr.. Wanamaker contended he had held
simply as collateral security for debt
due from the Lucas estate, his relations
with the bank had simply been as a de-
positor, who secured the ordinary busi-
L.. n, L., 1,nl
ceiyed any other information as to the
workings and the secrets of the bank ex-
cept such as was open to all other depos-
itors; that he had never used influence
in the selection of receiver for the
bank; that he had never said or done
anything to delay the closing of the
bank, and that the reduction in his firms
line of deposits, after the run in Decem-
ber, which was the first intimation he
had ever received of the banks weak
ness, was due only TO the exercise Of
what he considered to be ordinary bust
ness precaution.
Mr.. Wanamaker's examination also
developed the fact that the money of the
Bethany saving fund had been deposited
in the Keystone bank, under a promise
from President Marsh that he would
loan it out at 9 per cent. interest, and
would pay over the whole of the interest
to the fund. The deposit was finally
drawn out in September, and Mr.. Wan
amaker said that the only loss which
the saving fund sustained was the loss
of its interest on the deposit.
Mr.. Wanamaker also denied that he
had ever had any business dealings with
Mr.. Bardsley, except that Bardsley was
q customer at his store, where he had an
account which was settled monthly.