The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1891-07-16

maker got the stock than he does him
self. Your notion that shaky banks
are kept up by pledging their "
stock for advances OF cash to keep
them ahoat is certainly a right merry
one. Oh, there is nothing crooked
abont such transactions, is there nots
Well, perhaps you do things that
way in New Brunswick. We do re-
member a case of the kind some years
ago; but In Hudson we assure you
that is not one Of our methods
Apropos, Fredonian, we're you ever in
a bank in your life? Have you the
faintest idea Of the idiocy of your
"explanation"2
But here comes the Philadelphia
Press. and surely it should know what
it is talking about. 1t is. so to speak,
fright in it.n This is how 1t attempts
to explain the blackmailing Incl
DENT
Tint Mr.. wanamaker thought either the
Lucas estate or the Keystone Bank should make
good the fraudulent Keystone stock which
T.ucas imposed on him. and which had cost Mr..
Wanamaker a considerable sum OF good money.
was not an unnatural conclusion In trying 70
get back the money he advanced on the stock
Mr.. Wanamaker did what any rational man
would naturally do. For this he has been
abused as though he had endeavored 70
sell this fraudulent stock to innocent third par
ties, concealing its real character. When the
integrity OF the stock was challenged he simply
tried to put il back where he got IT,
Unfortunately this smooth bit OF
English will not accord with the story
told by Mr.. Wanamaker himself. Ac-
cording to his story, he got the stock
to raise money on, in Lucas interest.
He did not so use it. He simply held
it as collateral, and put up all the
money himself. When he brought
the Reading deed to an issue he COB
bled all the profits because he had put
up all the money-and Lucas was
not alive to enforce his claim for
his share: He was in nj hurry
to return the collateral, however, and
presently finding it was fraudulent
and might hurt some one if skillfully
used, he demanded 800, 900 for its sur
render. The notion that this was due
him is absurd, for he had all Lucas
share OF the Reading stock or else the
money realized on it, so what right
had he to the bank stock, straight or
crooked? OF course this version of
the case is no more true than that of
the Press. 1t has been proven false;
but it is Wanamaker's own story, and
it does not agree with the Press plea
for him, and that is the point at issue
lust now. The Press adds
There are some, however. who viii not be sat
ished, but will raise objections which we cannot
now anticipate. For some reason the chief an
tazonism 10 President Harrison's administra-
ton has conferred upon the head OF the Post
Ofics Department. He has been the target at
which the opposition have kept up q steady fir
ing from the beginning.
Certainly, opposition has been
mainly directed against Mr.. Wanna
maker. The American people have
long recognized in him q sniveling
hypocrite, and every act Of his public
life has borne out the truth of this
estimate of his character. Bad and
mean as the rest of President Harri-
sons cabinet is, there is no other man
in tive know only one other man in
the United States-who reeks with
offense to decency, honor and man
hood as does this psalm-singing cor
r~uptionist and gospel-preaching fraud.