Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-08-06
FISHER REMOVES MacBURNEY
AS HIS AID AT BANK

A,
Continued From PaEe One
Banking Department. Mr.. Lafcan. then
banking commissioner, did not close the
bank.
The new banking act forbids an ex
nmncr who has made an examination
of the affairs of bank within one year
previous 70 the taking possession there
of by the Banking Department to act
as special deputy in the liquidation of
its affairs.
Did Not Know Law
Mr.. MacBurney. Commissioner Fish
or declared today. was not familiar with
this section of the new banking act,
nor was the knowledge that it was Mr.
MacBurney who had made the Septem-
bcr. 1918, examination into the affairs
of the North Penn Bank in the pos
session of Commissioner Fisher at the
time he appointed Nr. MacBurney.
As special deputy, in charge of the
four other examiners of the North Penn
Bank, Mr.. MacBurney is the personal
representative of Banking Commissioner
Fisher.
ITO relieve Mr.. MacBurney of any
of possible legal oubblc on the part Of
those who may be involved as de-
PENDANTS in prosecutions and civil suits,
I have decided to revoke Mr.. MacBur-
neys appointment as special deputy and
to substitute another man. rs soon as
he can qualify said Commissioner
Fisher today.
No Criticism Offered
This whole transaction reveals moth
ing but what is crpditablP to Mr.. Mac
Rurnry. He has worked faithfully with
the four other examiners who have been
aiding him and has developed much use
full information.
"When the official records relative
to the North Penn Bank are made pub
lie. as they will be, they will entirely
vindirate Mr.. MacBurncy. He will be
continued on the force as examiner of
the State Banking Department.
James w. MacBurney had retired
from the force of bank examiners be,
fore | came into Office as banking COM
missioner. He was very highly recon-
mended to me as an efficient examiner
by Captain Morrison, my first deputy.
| made inquiries in banking circles and
among my personal friends who knew
him well and through them verified his
reputation for integrity and skill.
when | began reorganization of the
department under the new banking law
indirectly sounded out Mr.. Macl'urney
to discover whether he would entertain
a roposition to come back on the force.
/ Within week before the failure of the
| hank had assurance through a mu-
| tual friend that he was willing to re-
sumo his former position. had taken
! the matter up with Governor Sproul and
! had secured his verbal approval. but the
| commission was not yet made out at
! the time Of the bank failure.
/ Decided to Close Bank
"The night of July II. ut which time
! sent Deputy Cameron and Deputy
! Ferguson to close the North Penn Bank
| directed Mr.. Cameron to get into com
munication with Mr.. MacBurney the first
thing in the morning, following the
closing of the banks doors. to know If
he would be willing to take charge of
the bank as special deputy. Upon re-
cCiving word of his willingness to serve
in this capacity ! commissioned him
and he gave the usual bond
Since that time ! have found that
he was the bank examiner who made the
last examination OF the North Penn
Bank. in September. 1913. Under the
provisions of the new banking depart
ment act of May 21, 1919, an examiner
who has made an examination of tn,
affairs of bank within one year pre-
vious to the taking of possession thereof
by the department is prohibited from
acting as n special deputy to liquidatC
the institution.
"Mr. McBurney was not acouainte,
with the provisions of the new law n
the m time Of his appointment. and I wa