The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-07-12
COLLAPSE OF THE BANKS
DEBTS OF GOVERNMENT OFFICERS
AMONG THE ASSETS.

Assistant Bank Examiner Trenholm
Overdrawn to the Amount of SOFIA
atthe Keystone Nstlonal-S4O,O 900 OF
Assistant Secretary Of the Treasury
Nettleton's Accommodation Paper
Overdue at the Spring Garden
National
WASHINGTON. July ia subcommittee
of the Senate committee on failed national
banks, consisting of Senators Chandler,
Carlisle and PETER, to-day in the office Of
the controller OF the currency took further
testimony In regard to the fail
ure Of the Keystone and the
Spring Garden National banks
Of Philadelphia The only witness examined
at to- days session was Charles J. Stoddard,
a clerk in charge Of the inkolvent banks in
in the Office Of the controller Of the our
rency. He testified that William Trenholm,
an assistant bank examiner under Bank
Examiner Drew, had overdrawn his
account at the Keystone Bank TO
had overdrawn did not appear in the
examiners first report and was escertained
only upon an investigation made under the
direction Of the Secretary OF the Treasury
about two years sfterward. The witness
said that he understood from hearsay that
the reason why it was not discovered earlier
was because the records had been mutilated,
whole leaves being torn from the books.
NETTLETON A DEBTOR.
In regard to the affairs of the Spring
Garden Bank, Mr.. Stoddard said that In
the report of the examiner of May &, 1891,
the day upon which the bank had closed its
doors, it was shown that A. b. Nettleton,
Assistant Secretary of the Treasury, had
some $40, 900 Of accommodation paper
overdue. of which the examiner says
"whose value 1 am not able TO
report" This paper was in the form
of Six notes, and two OF these
notes had mysteriously disappeared. But
the facts seemed to be that upon March 10,
1891, Nelson F. Evans, who had himself
directly or indirectly been a debtor TO the
bank to the extent of about 5000. 600, came
ia the bank and gave his check on the
keystone National Bank for SIS, 1873 and
received in return two notes of Mr.. Net
Teton.
EVANS CHECK UNPAID.
The Spring Garden Bank suspended one
week atterward and during the interview
ing time Mr.. Evans check had not been
presented for payment, and was found
unpaid among the assets Of the bank after
its suspension. Mr. Stoddard further said
that Mr.. Evans did not have deposit at the
Keystone Bank sufficient to pay the check
if it had been presented. On June 30, 1892,
tie receiver of the bank informed the con-
troller of the currency that Mr.. Nettleton
had given a judgment note for $26, $50 to
cover his Indebtedness, which he admits.
The controller is not aware that any
amount has been paid by Mr. Nettlebon in
settlement of this indebtedness
The committee then adjourned.
NETTLEToN MAKES A STATEMENT.
Assistant Secretary Nettlston said to-day
with regard to the foregoing subject: This
matter was fully covered by the press dis
patches shortly after the failure of the
Spring Garden National Bank in April, 1891,
and more recently in a communication sent
by me TO the Senate special committee.
There is and has been no controversy over
the facts in the matter and nothing that can
much interest the public. Certain accom-
mediation notes Of mine which l had for
merly delivered to N. F. Evans Of Phil
adelphia for his conveniece proved to
be Ia the Spring Garden National
Bank at the time OF the failure, fifteen
months ago. aud promptly acknowledged
my responsibility for them. I never Dor
no wed or received q dollar from the bank
and never have been indebted to it except
in the manner mentioned"