New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-19
ALLEGHENY BANK SHUT
CASHIER Il SUICIDE.
Big Loans alleged to Haze Been
Been Made to State Politicians.

Pfttsburg, Oct. 1S-After investigation OF
the books Of the Enterprise National Bank
of Beaver-ave., Allegheny. which disclosed
that the bank was irsolvent, T Lee Clark
cashier of the institution for years. went to his
home in Bellevue, spent a sleeDless. nervous
night and this morning took poison and shot
himself through the head. He died at 2:So
o'clock this afternoon.
An hour before the announcement Of his death
was received at the bank telegram came from
the Controller of the Currency at Washington
to close the doors and appointing John b. Gun
| ningham, bank examiner. receiver.
Fred Gwinner sr president of the bank. an
nounced that Clark had lent thousands OF dol
lars and that he himself had indorsed a note
for $4,000 yesterday for Clark, ending with
the statement that if the shortage was only
$1,000 he would glady pay it himself
President Cfwinner asserted that the money
| had been lent TO a company managed by ex-
! State Senator w r. Andrews with whom were
| associated F ] Torrance, well known state
politician. ex-State Senator Kennedy and Clark
! the cashier
When pressed for specific instances Of loans
| mad, TO Andrews and Torrance, Mr. Gwinner
| modife his first statement by saying that the
| books of the bank did not show that they per
| sonaIIv borrowed money from 1t; but that the
| money was given to the Pennsylvania Develop
| ment Company
Andrews could not be found tonight He
was reported to have gone to Philadelphia Tor
rorca is III at his home in Allegheny His per
| sonal representative, W c. Hagah' sald 'lla' 90
! FAR as he knew Torrance has n" paper III 'i0
| E,n+erprise National Bank
The bank has State deposits which Will
oroo,,nt To about 100000, of which $59Sooo Is
IN the checking or active account and the rest Is
state sinking funds.
Mr. Cunningham spent most or yesterday ana
last night working on the books of the oanK
with the cashier Shortly before midnight NJ
clark complained of not feeling well and starte-
for home Earlier in the afternoon the oanK
examiner was of the opinion that the bank was
;so,,-ao+ and so informed the Controlle- at
Washington
According 10 the examiners report, the re-
sources and liabilities of the Enterprise Bank ir
the last report made August 25, were $2973,-
16q 56 each The Enterprise Bank cleared
through the Bank of Pittsburg. At that bank
this afternoon 1t was stated that sufficient de-
posits were on hand from the Allegheny nstitu-
ton to protect the clearing house and that all
checks had been sent back to the original banks.
After the meeting one of the directors stated
that the books had been gone over hurriedly be
fore the meeting and that far rs they knew
they were all right The director said that Mr..
Cunningham would begin Immediately an ex-
animation of all the books of the bank This
will require about five days. he said. before a
statement can be made
The Hanover National Bank has been the
New York correspondent of the Enterprise Ma
tional.
Mr. Clark has lived in Bellevue for fifteen
wears and has always held positions of the high
est honor and trust He represented the Sec
ond Ward in the Bellevue Council Clark was
a member of the United Presbyterian Church of
Bellevue being member of the official board
TJa has been actively interested in the
work of the church and was its largest con-
tributor