New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-08
BANK PRESIDENT ADMITS GUILT.
AFTER SEVEN YEARS ABSENCE GIDEON w.
MARSH WILL SUFFER IMPRISONMENT
FOR MTSAPPLYING FUNDS IN

Philadelphia Dec 7.-Gdeon W Marsh. former
president OF the Keystone National Bank. the dis
astrous failure Of which announced on March
20 1884, to-day pleaded guilty before Judge Butler
In the United States District Court. The indct-
ments charged him with conspiracy with the cash.
Ter. Charles Lawrence in misapplying the funds
OF The bank and making false reports OF the banks
condition the Controller Of the Currency. lie
remanded for sentence on Tuesday
At the time Of the failure OF the bank Marsh
and Lawrence placed under arrest, charged
with violating the National banking laws. They
were admitted 70 bail for a hearing on May 4.
1891 but on that date Marsh failed put in an
appearance and his s3O 90 bail forfeited. Moth
ing heard OF the fugitive bank president until
November Of this year. when, after wandering
about the world as a fugitive from justice for
seven years he returned to the city and VOL
unfairly surrendered 10 william IL. Wanamaker
his bondsman. who had been obliged 10 forfeit the
$1,000 Accompanying Mr. Wanamaker to court
he surrendered to the authorities Lawrence. tho
cashier was convicted in 1891. and after serving
several years OF a long sentence he was pardoned
by President Cleveland AS outcome Of the
keystone Bank failure John Bardsey. then Cry
Treasurer Of Philadelphia also sentenced to i
long term Of Imprisonment for unlawfully oaninS
city funds to the bank. Bardsley too. was par
doned after an imprisonment Of about four years
The return OF Marsh revived stories which OBJ
tanned circulation at the time OF the failure. 10 tho
effect that persons prominent In financial anu
political circles had profted by the use ~ the funds
OF the bank and that Marsh had been aided in his
flight by these men, with the object Of preventing
exposure For this reason the arraignment oc
Marsh in court was looked forward 10 with unusual
interest In view OF "A probable statement from
him which might involve persons whose names
had not previously been mentioned IN connection
with the banks affairs. a. a.,
After Marsh had entered his plea OF guilty his
counsel asked the Courts permission 10 investigate
a statement for his client. which would snow
mitigating circumstances in connection with the
commission Of the acts TO when ne had peaassi
guilty His counsel informed the Court that the
statement would show that after Mr. MARSH hAd
assumed the presidency Of the bank he found mat
there existed deficit in the funds or over
million dollars. He had doubt erred in cover
ing this deficit but the load was too much Tor the
hank To carry and finally resulted In us failure;
HIS counse. said the defendant had never prontet
one dollar through the banks losses. ana that
when he fed seven years ago. he had not wiki him
one dollar Of the banks money. 1900
Judge Butler however. Informed the counsel thae
he would receive no statement eXceDl matter per
tanning directly 10 the Indictment ana me Hflend-
ants plea thereon He would not permit state
mem 10 the Court which did not bear Directly on
The acts of the defendant and which mad no other
Interest than that Il the gratihcaton or pupns
curiosity The Judge finally dismissed the matter ~
Informing counsel that ne Woua = manu- lilr plis
oner ,tntil Friday next when he would impose SEN
tence after hearing the counseIs plea. lie woud NOT
however make this case an exception, ana w"ula
not go into an investigation or IN" bhnN anai.s.
He would merely listen 20 the counseis s.dte--
mont relative 20 defendants acts. with me ooi'Sc
~ determining The extent Of punishment 70 ne lih-
posed.