Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-19
ALLEGHENY TRAGEDY
Further Details ofSensational
Suicide of Cashier.
PROBING BANK AFFAIRS
STARTLING DEVELOPMENTS Elk.
PECTED FROM INQUIRY.
Denial From Andrews He Got Funds
From Wrecked Institution-Al-
legged Worthless Notes.
PROBING BANK AFFAIRS

| PITTSBURG.sPa.. October lathe inves-
| 1gaton of the affairs of the Enterprise
National Bank of Beaver avenue Allie
gheny City. Pa, whose doors were closed
yesterday afternoon by the controller OF
the currency, following the sensational
suicide OF T. Lee Clark. the cashier, IS
making good progress. Far into last night
and the early hours of today John b. Cum
ningham, national bank examiner who was
appointed receiver OF the institution pend
ing his investigation, assisted by a large
clerical force, labored steadily In an effort
to unravei the extent of the banks finan-
cfal embarrassment
The developments following the tragedy
and the closing of the bank have been
startling, Involving as they do the names
of several prominent citizens who have
peen active in state politics.
According to the statements of President
Gwynner, the bank, through Cashier Clark
mas furnished most of the funds used to
hoat the Santa Fe Central railway and the
pennsylvania Development Company, In
| which former State Senators w H. An
| drews and Arthur Kennedy and Fxancis
j. Torrance were deeply interested together
| with Cashier Clark
| The two projects are allied ones Former
senator Arthur Kennedy is president of
| the development company and former Sem
! ator w. H. Andrews is president of the
| railway.
| Francis j. Torrance is heavily Interested
| In both concerns, his confidential man w
=. Hagan Is secretary of both companies
7. Lee Clark, the dead cashier of the En-
| terprise, was treasurer of both companies,
| and the bank was the custodian OF their
| bonds, which were held as security for the
| loans. PERSONAL notes of the promoters are
| also reported to be among the additional
| securities furnished the bank
Denial From Andrews.
Former Senator Andrews denies the
! statement of President Gwynner, and SAYS
| he never got a cent, from the bank Mr.
Torrance is Ill, and Secretary Hagan,
| speaking for him, also denied that he had
| been a borrower. Former Senator Kennedy
is en- route to this city, and is expected
some time today. Upon reaching here a
| meeting of the directors will be called and
/ 1t Is said q complete statement of the con-
| nection of the companies with the bank
| will be made.
| Since the closing of the bank IT has de-
veloped that United States government ana
state officers have been in Pittsburg within
the last few weeks looking into the affairs
OF the institution, and particularly it was
said, to make an investigation of the state
ment recently made by Homer L. Castle
prohibition candidate for supreme court
Judge. relative to the accepting of money
from the state wit hthe understanding that
certain politicians would have the benefit
of loans.
Officials Visited Pittsburg.
W. B. Ridgely, controller of the cur
rency. 1t was learned, was in Pittsburg two
weeks ago. having stopped at the Duquesne
Club. Last week John A Berkey, state
commissioner of banking, and John w.
Morrison. deputy commissioner of banking,
spent several days In this city having
registered at the Hotel Henry. Berkey left
Pittsburg last Thursday. and Morrison de-
parted Friday. They are said to have had
| conferences with several republican poll
ticans.
National Bank Examiner John B. Cum
nfngham, when seen this morning, said 1t
was too early for him to be able to say
anything as to the banks condition.
AS to the notes that were held In the
bank Mr.. Cunningham would say nothing.
He said that it was too soon, and that his
accountants had not got to them yet. He
said from the appearance of the books
that the bank had large number of small
depoStorS. Just how many he was unable
to state.
The solvency or insolvency of the bank
was another thing that Mr.. Cunningham
declared 1t was too early to talk about.
This was matter that can only be de-
termined after the books of the bank has
been closed up and the balances taken Off.
1t would also depend somewhat on the
nature of the securities that were held by
the bank for the loans it had made.
Amount of State Money Involved.
HARRISBURG, Pa. October 19.-The ex-
act amount Of state money carried on de-
post in the Enterprise National Bank of
Allegheny, which closed its doors yesterday
will probably not be known until State
Treasurer Mathues comes to Harrisburg
lie is expected tn reach the department
during the day. T. Stewart Pierce, cashier
OF the treasury. is expected to return this
afternoon from Wilmington. Del. and he
may possibly give out a statement
Assistant Cashier Dewey, who is in
charge of the department. in the absence of
his supcriors. declines to furnish the in
formation to discuss the report that
$4,000 of state money was deposited in the
Enterprise bank last Tuesday.
TIE state department of banking has no
Supervision over the Enterprise National
Bank. Deputy Commissioner Morrison said
today that he knew r3thing whatever about
tie banks affairs and that he was posi-
tive Commission Berkey could give no in
formation. The commissioner is at Somer-
set today Ind Is not expected at his office
before tomorrow.
Santa Fe President Surprised.
CHICAGO, October 19-The Inter Ocean
today says:
President E. P. Ripley of the Santa Fe
road was surprised last night when told 1t
had been reported that the failure OF the
Santa Fe to buy the new road in New Mex
leo had been productive of trouble In Pitts
burg.
1--WE thought of buying Andrews little
road some months ago but the owners
wanted too much money for It" said Mr..
Ripley ..As far are concerned the
matter was dropped. I do not see how
Pfttsburg bank could be concerned in the
matter unless 1t had been putting up the
money to build the road. hoping to be
able to sell Ii at profit
.eThe road In question runs from Santa Fe
to Willard, n. NJ. and Is about 10 miles
in length. w. H. Andrews of Pittsburg
who is a resident of Mexico and prospective
candidate for United States senator. is In
terested In the venture"