, 1891-06-24
BARDSLEY EXPLAINS.
He Rises in Court and Makes
a Statement.
Relates His Connection With
the Keystone Bank,
Marsh, Lacey, Wanamaker and
Others.
Examiner Drew Placed in a
Bad Light.
BARDSLEY EXPLAINS.

PHILADELPHIA, June %. - Attorney
Alexander, for Bardsley, today cross
examined Expert Accountant Brown. the
substance of whose testimony was that
the investigation had not gone far enough
to say positively that any money has
actually gone into Bardsley's pockets.
Brown was also forced TO acknowledge
that there was an actual profit to the city
OF about Sl70,0O0 between the money put
at interest by Bardsley ard the money he
lost in stocks, as this money has been
turned over to the city. Brown further
said that with the exception Of the school
fund, the city's iund is intact.
Bardsley then arose and proceeded to
read his long-expected statement, occupy.
ing an hour and a quarter in doing so.
The summary OF his itemized statement
shows a net balance due the city of $751;
06l, aud a net balance due the state Of
SI,OO2, 769. This balance is accounted
for as tollaws: Clearing house due-bills
from the Keystone bank. 1925 900; re
ceipts from the president of the keystone
uNnh u lhb uuluH VI tue DAltlnOfe
Traction company 81 1000 each. 800. 900;
notes taken from G. z. Haines for cash
given to assist the Keystone bank. S25.-
OOJ; $50 shares OF stock in Farmers and
Mechanics bAGk, 500 900; cash in same
bank. SSOS; cash in hands of assignee,
5000; total, Sl.llj.sO6 Balance due
city and state. 1882.
The statement, continuing, says this
account for all the money entrusted to
nv care, except a balance of S43S, S22.
which Is many times overcome by prop
erty an claims made over 10 the assignee.
Regarding his transactions with the Key
stone bank. B lrdsley saws when he took The
office he found his predecessor had on de
post there 81, 100, 600. 800, 600 in excess
OF law. He reduced the balance to less
than the legal limit and thereafter kent it
within that limit except Tor three or four
deys. Transactions with the bank up to
the panic of 1890 were satisfactory. Then
he was applied to for assistance and de-
posi'ed with the president Baltimore
Traction bonds which were used at the
clearing house for a loan. These bonds or
the face value were to be returned to
BardsleY but they never were, President
Marsh applied 10 him IN the spring of 1890
to make other deposits. He complied and
uuTlOE tue ear UtIbNltt1 WIN tue DADk
$g45. 900, of which only $20,O was re-
turned to him About NoY. | he notified
the bank that on Nov. DC he would call
on them for S4O0. 600 TO pay the state
treasurer. tie vas not able to collect il
nor any part thereof. Remember" says
Bardsl"y, that this money was placed
IN the bank wncn there was no suspicion
ut Insolvency, and even the members of
the clearing house had no suspicion.
Daring all these months, and especially
during December. Examiner Drew made
many public decorations that every
national bank in Philadelphia was safe
and solvent"
During the fall of 1890 he assured
Bard>ley time aud again that the Key
stone bauS was all right. and in a. good
position As any other national hauk 10
Philadelphia, in proportion to capital and
surplus. When the condition ofthe bank
was ascertaincd. Bard~loy SAID he was,
with everybody else, as'onished that Drew
did not know Of the insolvency, and so
expressed himself tn President Marsh.
who said he believed Drew did know all
about il, but from the fact that Drew was
under obligations t. Lrras and himself,
he (Marshl thought Drew wanted to
assist the bank all he could Marsh sad
ANhL at tue llHut VI IutdS hfhlH
he held nromi.sory notes signed by Drew
for money borrowed. amounting to 81
SO Marsh also stated that valuable
presents or sums OF money had been pre-
scented or given to Mr.. Drew by fIwseli
and Mrs. Lucas
Il assert most positively, - continued
Barlslev, that Drew should have known
the true condition OF the bank, and had
ne communicated the fact to me. | would
never have permitted tho CRY aud state
and my own funds 10 have renamed there.
Marsh told, on one occasion, that during
Lucas lfe. Drew came to examine the
poned it for a week. Marsh said that
Drew assistant at one time holrded with
him and kept him fully advised of Drew's
Intended movements.
Bards'ey asserted that all the statements
that he knew ANYTHING about or cOnniyed
at Mar,h's fight were absolutely false.
He never had any relations with Marsh
other than as a dcpositor. During his
period of office he never had any transac-
tons with Postmaster General Wana.
maker nor any personal knowledge oil
that geDtlem1Rs tran. actions with the
Keystone bink He tBardsley) dil write
a letter to Wanamaker while the utter
was travelling with the precedent in Cali
%iornia. asking him tn use his in
~lueuce with Comptroller Lacey
in favor of the appointment of City
Comptroller Thompson as receiver
of the bank, and also visited Lacey