Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1905-10-19
A FINANCIAL SENSATION

day by the suicide of I. Lee Clarke, cash.
ier of the Enterprise National Bank OF
Allegheny.
On the heels of the suicide, which was
accomplished by poison and pistol, the
ENTERPRISE Bank was taken in charge by
the United States bank examiner and a
woeful state of affairs brougbtto light.
Evidently knowing that the Enter
prise Bank was on its last financial legs,
caused largely by the Vaccinations OF
the republican State political machine,
realizing that nothing but disgrace faced
the institution, into which hundreds oil
innocent people and a dozen or more
prominent State politicians would be
dragged, Cashier Clarke, who was also
an elder in the United Presbyterian
Church. of Bellevue, shot himself through
the head at his home in Bellevue yester-
day morning and died at his home yes
terday afternoon. :,
Five hours after the shooting, and
while the cashier was breathing his last,
the doors of the bank, one Of the Oldest
and considered one of the most reliable
in Allegheny county, were closed by or
der of the Comptroller of the Currency
at Washington. 1t was the first scene
of the most remark kable political sensa-
ton than has ever stirred Pennsylvania,
and in which the deplorable condl-
tions in the State treasury were laid
bare.
The closing of the bank follows quick
" after the charges made against it by
Homer L. Castle, prohibiting candidate
for Superior Court judge, who alleged
that the bank was carrying practically
worthless stocks which had been depos-
tied by State politicians for personal
loans.
Last week Banking Commissioner John
A. Berkey, of Somerset, and John W.
Morrison, one of bis deputies, visited the
bank. They knew the condition OF the
bank. On Tuesday, in desperate effort
to save the bank from ruin, State Treas
urer Mathien sent an additional deposit
of State funds, amounting to 500, OOO,
which made the total amount OF State
funds in the bank 1892, 600. The fact
was admitted yesterday afternoon after
the suicide and the closing of the bank
by Frederick Gwinner, the aged presl'
dent. He wruDg his hands as ne made
this admission. "This will break up
the republican party in the State OF Penn
sylvania." ,"
1t is conceded by all that the expose
deals one of the hardest blows ever suf-
fered by the republicans of Pennsyl-
vania.
Francis J. Torrance, head Of the Stand
ard Manufacturing Company and Cne
of the leading republicans of Pennsyl-
vania. has been closely identified with
the workings of the bank now in the
hands of receiver, and he is lying at
the point of death. Clarke, the
cashier, now dead, with w. R. An
drews, formerly of Piltsburg, now Terri
torial Delegate of New Mexico at
Washington, and former State Senator
Arthur Kennedy had, it appears, been
in several large deals. One of them was
the selling OF railroad property to the
Santa Fe road. The option, which, II
closed, meant fortune to each Of those
named, was not taken up by the Santa
Fe people on Saturday, but was allowed
to expire.
The Enterprise Bank, it appears, hac
backed this deal heavily, and when II
did not 20 through there was scurry-
ing. Cashier Clarke, who has for years
been considered one of the most consCl
entious men in Allegheny county,
shining light and elder in the United
PRESBYTERIAN Church, of Bellevue, ap
pears to have smelled ruin.
The bank had been carrying according
to the best information received, abou
500, 900 in paper of Pennsylvania poll
ticians. Among this was 5000, 900 10
Andrews and others on the Santa Fl
deal. On Tuesday evening Csshie
Clark went to the bank, where ne re
mained over his books till long after mid
night.
About 9 o'clock President Gwinner, 0
the Enterprise Bank, dropped in to Sc
him. He asked if anything was wrong
! if be could do anything.
, w'n give you 500, 900, Mr.. Clarke
! if you need it for time" said the oil,
president. 81 am afraid all is not wei
here"
"Thauk you, Mr.. Gwinner, but tn
bank is all right and | am all right,
said Elder Clarke, as he bowed the oil
president out.
Two hours later Clarke went home
and rising early yesterday morning too
a dose Of laudanum, but it was not Q
sufficient size to kill him. He persuad
ed his family that it had been mistsk
! and, drinking a cup fcofiee, ordered hi
carriage brought to the door, in orde
that Se might not be late at the bank
d He kissed his wife and four childre
, pood-by, and with song oD his lips wen
: out on the back porch of his $500, 90
home. and there, pulling revolver, she
himself through the head, falling uncor
4 scious on the floor. He was carried int
his house. where he died at 3 o'clock ye'
:. terday afternoon.