The times. [volume] (Richmond, Va.) 1890-1903, 1897-12-24

phia to avert the catastropha and that
but for the discovery upon final investi-
CATION or a worse condition OF affairs
than had been anticipated. the Chestnut
Street Bank would not have been permit
ted To fail.
a number OF gentlemen OF very great
prominence I'm the financial community
united this morning in making this state
ent concerning the matter:
THE large financial interests OF the
city had combined to advance the amount
or money reported as necessary, but
firal investigation developed a condition
which prevented their interests from
arranging TO extend the needed reliet
Members OF the clearinghouse state that
no other banks are involved in the nature.
The banks affairs have been under the
scrutiny OF Comptroller OF the currency
Eckels for some time, and he has paid
several visits 10 this city in connection
herewith. In banking circles the en-
barrassment OF the Chestnut-Strct Bank
recently been an open secret. The bank
has for some time been debtor at tho
clearinghouse in making the daily eX-
changes. and on one or two occasions
some difficulty has been experienced IN
meeting ito balances. This morning.
however. the Chestnut-Street Bank was
a creditor AZ the clearinghouse 10 the
amount Of $4,000.
MANY INTERESTS.
There is not another man, perhaps In
the city Of Philadelphia who has so many
and widely diversified interests The
name of the Record is synonymous with
that OF Singerly. and. while IT is not his
only venture by any means. II is his
pet. He purchased the paper in 1871. when
It was weakening and by the introduction
or progressive methods. made II what II
IS to-day-the best edited ono cent daily
In tho country. His real estate invest
ments are also very heavy. for he has
built over one thousand houses in this
city.
He IS also president Of tho Chestnut
street Trust and Savings Fund Co.. and
has large interests I'm a number OF COM
mercial and manufacturing. ard other es-
adjustments. among which the the Brigh-
ton Mills. at Eighth and Dauphin streets.
where worsted goods for women are
made cleaner and binder factory at
Norristown. whore a hundred hands arc
employed his famous stock farm n
Gwynned, where 5000 gallons Of milk are
obtained yearly from his herd 81 cattle
and sold In this city. and his stock farm
AZ tlkton. Nd. is near where ne pos
sesses one of the largest paper and pulp
mills in the United states. He IS also
deeply interested IN several local CONNER
tlal enterprises such as Lemons store.
on Chestnut street tho philadelphia Photo
Engraving Company the Rembrandt En-
CRAVING 'omupanv. a new concern. SINH
lar plant In baltimore. and Lit Brothers
big store AT Eighth and Market streets.
Mr.. SinSerly was also owner Of the Tenn
pie Theatre. which occupied the site OF Tho
Chestnut Street National Rank II was
burned down on December q. 1856. at a
loss % s2oOono
lie was always - a charitable nature
and many thousands OF dollars have
found their way 10 help friends I'm need.
and 70 assist others Of whom he had never
heard lie was always AZ the command
OF his friends. II was he who inaugurat-
cd the Sunday concerts IN Paramount
Park. and who has always sought 10 give
consumers OF coal that article Of fuel al
cost price. He has now furnished over
go con tons In this CITY.
Notwithstanding tho pressure Of all
these great interests upon him. Mr. Sing
erly has always taken an ardent interest
I'm politics. and no man IS better known in
Democratic circles throughout the state
than he He has never held Office. how
ever. except tho honorary posi-
lion ~ Commissioner ~ Fairmount Park
IN Philadelphia. n non-salaried office.
which requires him 10 devote considera-
bic time 10 tho wants OF that great pleas
ure ground.
IN the Presidential campaigns 81 1884.
1858 and 1892. Mr.. Sngerly was especially
active. always supporting Grover Clevo-
land with all the vigor M his command.
lie and eX-President Cleveland are close
personal friends. They are I'm entire har-
mony I'm Their views on tariff reform. n
sound currency and Other leading issues.
He was the Democratic candidate for
Governor. but was defeatod by Hastings