Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-25
THE ENTERPRISE BANK
NOTES SAID TO HAVE BEEN
TAKEN UP.

A dispatch from Pittsburg. Pa. last night
says: 1t is believed that when Receiver
Cunningham makes known his report, the
Enterprise National Banks loss will be
considerably less than $1,000. 900 as was
first reported. This diminution of the
shortage, 1t is said, has been brought about
by the payment of many of the notes, and
the obligations In possession of the bank
when it closed may never be known.
There is still talk that legal proceedings
in connection with the banks affairs will
be taken, but in what form they will be
instituted has not developed. 1t is said
the directors will not fight the action of
the state treasurer in recovering on their
bonds protecting the state fund of over
N,O00,O0O
The report yesterday that notes aggre-
eating $4,000 are missing from the bank
is given little credence. Mr.. Cunningham
denies any such statement, and there Is
no other source from which the informa-
ton could be secured.
Arrangements were being made today, it
is said, to at once lift from the Enterprise
names of the Pennsylvania Development
Company, the Santa Fe Central railroad.
or w. II. Andrews. Francis ]. Torrance,
and Arthur Kennedy as indorsers for these
companies. Attorney Walter Lyon, coun-
sci for the men interested, said:
we have become tired of the charges
that money loaned bad collateral to
those companies caused the closing of the
bank, and We propose to stop such talk in
the most effective way. We will at once
pay every dollar of paper in which any one
connected with these companies is inter
ested even If 1t is not due"
Francis ]. Torrance, who has been prom
inently mentioned in connection with the
affairs of the Enterprise National Bank,
and who has been quite ill at his home in
Allegheny, makes a complete denial of the
many statements that he was instrumental
in the failure of the bank.
The attention of the United States At
torney General at Washington having been
called to the declaration that the Enter
prise National Bank of Allegheny City was
ruined by politicians, he has instructed
United States District Attorney Dunkel
here to take hand in the matter. Mr..
Dunkel 1t is understood. will assume an
oversight of the banks affairs tomorrow.
This announcement caused much worry
among the men credited with part in the
banks downfall. Former State Senator w.
H. Bull Andrews. head of the Santa Fe
Central road, whose paper is said to have
swamped the bank, became very busy dur
ing the day He visited one bank and
lifted note for 5000 he had there. The
wrapper around the roll of bills which he
took into the bank was carefully put back
into his pocket.
Soon after this ex-Lieut.-Gov. Walter
Lyon, counsel for the Santa Fe Central,
came out with a lengthy statement, In
which he said that the troubles of the bank
had all been precipitated by the loose
methods of Clark. the cashier who com
mitted suicide; that none of his clients had
known of ClarRs speculations, and that
he did not think it right that w. H. An
drews and United States Senator Boles
Penrose should be blamed for acts they
had never committed. Lyon also made a
vicious attack upon President Frederick
Gwynner of the Enterprise Bank, saying
that he, not politicians, had gotten the de-
posts of state funds for the bank.