Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-12-18

and slcpt soundly until the hour at
which all workhousc inmates are ex-
pected to rise.
Said Game Was Up
Mr.. Horn. the new secretary treas
urer. said today:
II had gone over the books and the
securities of the society. finishing my
work Monday last. Bush knew the ex-
animation was being made and he said
''The game Is UP so fnr as I nm con-
cerned." He then made his formal con-
fcssion to Mr.. Stone. the president. and
to the other bank officials.
1.-The certificates of indebtedness
$50 900 worth-becamc due this month
and we intended to put them in for col
lection. 1t was certain. therefore. that
Bush would have been detected.
1--WE are amply protected, as we have
surety bond as well us his house. If
there should be an increase in the value
of the stocks in which he was dabblng
that increase will accrue to the fund
we will recover.
Whoever his brokers were, they
should have known that an official like
Mr.. Bush would not have been able to
trade on the market in such amounts
as he did. or to cover his margins with
Sucn luTkp SUIllS Ill St'uTllItS.
Frederick +. Stone, president of the
bank, authorized this statement to-
day: oo
THE theft of $200,000 worth of
bonds from the society will absolutely
not affect the sOundnrss of the insti-
tuition in any manner. The surplus
| fund is twenty three times the amount
of any possible loss which can accrue
by theft of the bonds.
aside from this condition, we will
recover the greater portion Of the
bonds. and we also hold bond Of
indemnity"
Thought He'd Get Aid
An official of the society expressed
disappointment that certain wealthy
interests had not come to Bush's aid,
when he said:
eve really thought they (mesning
those wealthy interests) would come
to his rescue before things came to a
showdown At least, we thought they
would il for no other reason than for
the sake of his wife and children. They
may do it yet"
Bush had access to the securities he
stole because the Wilmington Savings
Fund Society's securities are lodged,
temporarily, in a safe in another bank
ing institution. pending completion of a
new banking house for the society.
Bush was the only man who knew the
combination of this safe. and it is be-
licvcd the opportunity to handle a big
sum. speculate and get rich quick
proved too strong n temptation,
Since the Bush scandal developed a
rev system is effective. Orders have
been isurd that two officers of the So
ciety must be present whenever any
bonds or securities are removed from
the safe in the temporary quarters, and
two men now know the combination OF
the safe.
J. Ernest Smith. of counsel for the
society, commented on the Bush con :
fcssion, and referred specifically to one
statement of Bush:
II have been leading a DR.. Jekyll-
Mr.. Hyde existence. and it was the
evil side of me which predominated
! when | stole the bonds
Bush was the adopted son of Will
liam Bush, morocco leather manufac
turer. In reality. he was Bush's own
grandson, and his name was originally
William Lonsberry. After the lpga
adoption, and as Bush was steadily de,
, velOping into coming citizen in
. to the court. and approved. by which
, the name of I.onSberry was formally
'"oppcd in favor of William Bush. ex
, actly similar to that of his fOStel
father.
A Luxurious Home
The Bush home. at 2425 Delaware
avenue, in the exclusive residential sec
tion of Wilmington, is of Colonial de
sign. and is estimated today as worth
SO 900 to 100000. 1t is luxuriousl,
furnished
Bush was connected with the Imman
r ucl Protestant Episcopal Church, not
far from the Delaware avenue house
and was active in church work as al
Of the chuIch the ReY. w. l.. Clash
was trrsc FL his comment today:
"Too much has been printed lately