The sun., 1898-10-14
GIDEON \. MARSH
REPORTED RETURNED
With Senator PenrOSe He Will
Tell John Wanamaker'S Con.
nection With Keystone Bank.
ACADEMY OF MUSIC SATURDAY
Facts ami Notes to be Given by
Senator PenrOse and the Fugi.
tive President of the Defunct
Bank-.Pennsylvania Great.
est Scandal in Years.

Special Dispatch to The SUN.
PHILADELPHIA, Oct. IA. 2a.m.-Gideon
N. Marsh, president of the late Keystone
National Bank has, according to we'll
founded rumor abroad tonight, returned
to town.
It is said that Marsh is now in the
! city after an absence of over seven years
the fugitive president OF the famous
bank at Juniper and Chestnut streets.
The report goes on to say that Marsh
will be used as an important factor in
startling statements to be made by
United States Senator Boies Penrose at
the Academy of Music on Saturday
night. =, L., ~, ,,
John Wanamaker's connection with the
wrecking Of the Keystone National
Bank.
This move was anticipated in THE Sun
on October 4 in special dispatch from
Philadelphia.
Penrose has in the speeches made by
him during the last few days made sew
eral charges against Wanamaker
but with Gideon N. Marsh
the man who was president
Of the keystone Bank at the time
it suspended and who subsequently fled
and has remained in oblivion ever since
with this man at his side to corrobo.
rate what Penrose Gays, there is expected
to be real warm time at the Academy
of Music Saturday night.
The Senator in pointed statement to-
day declared his intention to give facts
and notes bearing on the Keystone Bank
and if the rumor that he will have with
: him at the time Gideon N. Marsh be
true, then it is sure thing that the facts
. and notes will be forthcoming.
The Keystone Bank was first in trouble
on December 2, 1890. A run was started
4 onthe bank on that day and $225, COO
was paid out. The city of Philadelphia
had on deposit in the Keystone Bank
100000. The night of December 2,
John Bardsley, then city treasurer,
called meeting OF the directors of the
bank and told them that he must look
out for the interests of the city,.
The trouble, however, was tided over
temporarily. John P. Lucas decided to
the bank the property on which it
stood at Juniper and Chestnut streets,
along with several other properties.
The next trouble came in April, 1891.
This second trouble proved too much,
and the institution went to the wall, and
Gideon n Marsh, the president, became
fugitive.
John Wanamnker was stockholder
in the keystone Bank but charges of his
connection with the wrecking of the bank
were never brought. 1t was said how.
ever, that it was an over-issuance of the
stock of the bank dating back to the time
when John p. Lucas was president.
Wanamaker's connection with the wreck
ing of the bank was taken up in per
functory way by City Councils. ~
1t is generally supposed that "Gid'
Marsh has been handsomely paid to stay
4 away from Philadelphia and that other
influences other than money were
brought to bear to that end:
At the time of the Councilmanic in
vestigation shortly after Marsh had fled,
Wanamaker appeared before the COM
mittee appointed by councils and ex-
planned or attempted to explain his con-
nection with the defunct bank.
The Councilmanic committee was pre-.
sided over by "Billy" Van Ousten, who
was invariably placed at the head OF in
yestipatipg committees which are ex'
pected not to investigate.
The Keystone Bank case was followed
by the collapse of the Bank of America
and the liquidation of three or four f
nancial firms of greater or lesser stand.
ing, which were backed by the same
syndicate of politicians and 'good fel'
lows"
Senator Penrose says he expects to
give the true history of the keystone
Bank on Saturday, night and consterna'
ton is spread upon the faces OF many
politicians in this city tonight.