New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-24
NOTES FOR s600,00O GONE.
Receiuer of Enterprise National
Bank Makes Startling Discovery.
a. Telegraph 70 NC TrIbune.

Pittsburg Oct 23-John 3. Cunningham, the
national bank examiner, who is investigating
the affairs of the wrecked Enterprise National
Bank of Allegheny, has made the discovery
that many of the notes held by the bank for
money loaned by the cashier, T. Lee Clark, be-
fore he committed suicide, are missing.
The papers and books in the bank have been
gone over carefully. but there are yet to be
found notes that will account for 100000 Of
the banks funds Whether these notes have
been destroyed or whether no notes were taken
for the money by Cashier Clark is not known
but Mr.. Cunningham is Of the opinion that the
notes were destroyed.
President Gwinner said tonight:
1 believe that the bank has been wrecked by
persons who are neither bankers or depositorS
but 1 will make no further statements until L
in possession of tangible, definite informa-
ton.
THE Pittsburg Press made the announce
ment to-day that 100000 in notes and securt-
ties are missing The paper says:
The investigation of the banks affairs has re-
veaIed one of the most amazing systems of
finance that has ever come under the observa-
ton of Mr. Cunningham From what has been
learned from Mr.. Clark's papers, and they have
all been examined, it appears that he had no
system Of keeping tab on the loans that ne
made, much less of informing the directors OF
the loans and securing the approval of securities.
The first failure caused by the suicide of Clark
was that of the National Cable and Wire COM
pany, OF which Clark was the president IT was
announced to-day that Walter Lyon had been
appointed attorney for Bank Examiner Cum
ningham in any pending legal action. Mr.. Lyon
refused to deny or affirm the report.
Depositors of the Enterprise National Bank
are receiving offers of 90 cents on the dollar for
holdings. e. Sansome, a depositor of the bank
and a fruit dealer. said he would buy all the
deposits he could get, as he is confident that
the bank will settle at least on the basis Of 6O
cents the dollar.
III the mean time notes that were in the pos
session of the bank have been promptly paid
as the paper matured. The receiver says that
the audit of the accounts OF the institution will
not be completed before the latter part of this
week.
The directors and stockholders OF the bank
are still in the dark concerning the deficit, and
do not know whether the private loans made by
Cashier Clark will reach 100000 or greatly ex-
coed that amount Mr.. Gwinner, president OF
the bank. when pressed for a statement, said
he did not know whether the shortage would
be 81 900 or 100000. He intimated that he
would insist a statement being given out on
behalf of the directors concerning the banks
affairs to-day tomorrow.
w. A. Selling, director. was at the bank
He said the prospects were brighter and the
bank would soon be able TO open its doors. He
stated that he had been director for about a
year and that he had never signed any bond fol
State funds AS to what the others had done
previous to his becoming director he could
not state.