Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-29

Clark. the dead cashier of the Enterprise
National Bank. to unlawfully procure
funds by the proceeds of negotiable paper.
The information caused quite a sensation
and 1t Is intimated that other suits involv-
ing prominent persons. are TO be entered
in connection with the failure OF the En-
terprise bank
1t was reported late this afternoon that
a shortage of 100000 in cash has been dis
covered in the accounts of Cashier Clark
by Special Government Examiner E. p.
MoXey and Receiver John b. Cunningham.
This amount of money is supposed to have
been loaned out without security or any
record being made of the transactions.
Loans Without Proper Security.
1t was further discovered, it is said that
loans were made without proper security
to other prominent parties in this section
and that the evidence gathered by the ex-
aminers is so complete that It is almost
sufficient ground for the prosecution OF
the persons involved. Reports were in cir
culation following the discoveries to the ef-
feet that immediate prosecutions had been
decided upon. but this was denied by
United States District Attorney Dunkle.
Special Examiner Edward p Moxey, who
is investigating the affairs of the insolvent
Enterprise National Bank, is positive that
T. Lee Clark. the suicide cashier was
guilty of criminal action in connection with
the banks affairs, and declared himself TO
that effect today.
When he was asked to be more explicit.
he said:
''Undouhtedly Clark was guilty of GRIM
inal conduct or ne would not have shot him.
self His suicide alone is sufficient evidence
of his guilt in my estimation. / have
found that % out of 100 bank cashiers who
commit suicide have made criminal use OF
the funds of their banks"
Clark's Alleged Confession.
How soon will you know whether de-
positors have lost all their money or
whether they will regain some OF it?" was
asked.
II do not know anything about that. I
am handling the criminal side alone. Mr..
Cunningham is attending to the other mat
ter"
When asked about the confession alleged
to have been left by Cashier Clark. Mr..
Moxey said: Il will say nothing about that
in any shape 1t is my invariable custom
to say nothing until the proper time ar
rives"
Referring to the alleged confession today.
one of Clarks relatives who would not
permit his name mentioned. said:
I'VE have very direct information that
the statement IS in possession of Mr. Cum
ningham. l believe that when it is made
public 1t will cast entirely new light on
the affairs of the bank and IL will show
that Mr.. Clark was not SO much to blame.
some mistakes"
Legal action is being talked of among
the relatives OF Clark to compel Receiver
Cunningham to make public the confess
sion.
Missing Collateral Pledged for Loans.
Every day brings additional evidence OF
missing collateral pledged for loans in the
Enterprise National Bank and In many in
stances it is believed these securities have
been rehypothecated. Today, when several
persons called to pay their loans, Receiver
Cunningham found that the collateral
which should have been attached to tho
notes was missing, and the borrowers re-
fused TO pay the notes unless the collateral
was returned Many suits are threatened
by the owners of missing securities, and
lawyers say the litigation which will result
from the closing of the bank will last for
several years.
II will be a year before a distribution OF
the dead cashiers estate will be made and
the orphans court permitted the revocation
of the appointment of Mrs. Clark as admin
istratrix. and the register of wills named
the Dollar Savings Fund and Trust Com
pany administrator instead This action
was taken to relieve the widow of the CASH
ier of the expected litigation. 1t is alleged
Clark is responsible for the rehypotheca-
ton of collateral. and the suits are to be
entered against his estate.
The notes referred to In the statement OF
assumpsit are as follows:
The Notes Involved. y
May 1. 1905. note for 5000 made by
Andrews to Francis ]. Torrance for four
months, and indorsed by Francis ]. Tor
rance May lG 1905, note for So 500. four
months. made to Torrance and indorsed by
Torrance; two notes for 500. made by