Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-06-08
THE KEYSTONE RANK FAILURE.
Reports Concerning Mr.. wanamaker's Rels
tions With the Bank Denied.

There is considerable public curiosity TO
know why Mr.. Wanamaker has been asked TO
appear as a witness in the keystone Bank investi-
CATION In Philadelphia, and what is the mean
ing Of the intimations that have been thrown
out from time to time giving the suggestion
that he is in some way interested in the sffair.
On behalf of Mr.. Wanamaker it has been
emphatically stated that his relations with the
bank had been Of a legitimate nature in the
course of business dealings regular in character.
Reports to the contrary. it is said. have been
put forth by persons who have a political or
personal motive for attacking Mr.. Wanamaker.
The reports which have been circulated and
which, il is said. have led to his being asked to
appear before the investigating committee are
that when the government first became aware
that the bank was in bad condition there
came coupled with this information a sugges-
ton that a full disclosure of the affairs
OF the bank at that time would in some
way involve Mr.. Wanamaker and that to pre-
vent this disclosure there was influence used
which delayed the closing of the bank and,
after 1t was closed, to delay the appointment Of
the receiver.
LOANS SAID TO HAVE BrrN MADE TO MIR wAN.-
MAKER.
Another statement made and which Mr..
Wanamaker will probably be asked about when
he appears before the committee is tina,
Mr.. Wanamaker got 100000 through Mr..
Marsh from the bank when il was
illegal for any one person to be accommo-
dated with loans beyond $4,000, and when
the bank was IN such a condition that the with
drawal OF such a sum impaired the credit OF
the bank; that an account kept in the name OF
Mrs Wanamaker WAS overdrawn and that W.
*. Wanamaker. or the firm. had drafts in the
bank which had been protested.
Among the repOrts also mt ont in regard "a
Mr. Wanamakers relations with the bank. and
which at present seems to have little basis ex-
cept that OF rumor. Is one that Mr.. Wanamaker
and MIR. Lucas, the president, now dead,
against whom the LOSSES of the bank are
charged. had business transactions together
and that between them they lost some S700, ,000
or more In the Reading railroad business, and
that over-issues Of stock were made to cover
up these losses.
WHAT PRIVATE SECRETARY CUSHING SAYS.
Postmaster General Wanamaker went over to
Philadelphia on Saturday, as has been his Gus
tom, to spend Sunday at his home. He gener-
ally returns on the morning train on Monday,
but today he did not come in at his usual time.
His private secretary. Mr.. Marshall Cushing. said
that he did not expect him until this afternoon.
He was however, not certain that he was COM
ing back at that time. He had telegraphed to
learn exactly when he would be here. In regard
TO the Keystone Bank investigation, Mr.. Gushing
said that Mr.. Wanamaker would be glad to have
ali the facts known. He had nothing TO conceal
and. as all who know the Postmaster General
were well aware, there was nothing improper or
corrupt in his relations with the bank. Mr..
Gushing regarded the attacks made upon Mr..
Nanamaker by democratic newspapers as po-
litical. and he said all the stories afoat in re-
gard to Mr.. Wanamaker were a CON-
bination of the political and financial in
fuences which were desirous of running him.
The latter he regarded as much more serious
and said that if the origin of the stories reflect
ing upon Mr.. Wanamaker's financial status
could be discovered legal measures could
be instituted. He said that Mr.. Etting, the
member of the Philadelphia council who
offered the resolutions asking the President 10
investigate the action of the Treasury Depart
ment with the view of discovering the inhu.
ences which had been brought to bear, had q
personal grudge against Mr.. Wanamaker. Mr..
Etting had insulted Mr.. Wanamaker at meet.
ing OF the city council, but when he was a can.
didate for reelection he came to Mr.. Wana-
request was refused and now, Mr.. Cushing says,
the opportunity embraced by Mr.. Etting
to get even with Mr.. Wanamaker.
THE REPORTS MADE BY EXAMINER DREW
1t is understood that there an issue between
the controller of the currency and Bank Ex-
aminer Drew as to the time when the latter in
Of the Keystone bank. The first for
mai report in which it is set forth that
the accounts of the bank balance but
explaining that there had been a deficiency OF
$500, 600 settled by the Lucas estate with Mr..
Drew, was made on the oath of January and re-
ceived on the 26th. but it is understood that
Mr.. Drew claims that he informed the con-
troller fully as to the condition of the bank by
private letters and kilograms before this re-
port was made.