The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-03-24
INDICTED UNION
BANK OFFICIALS
ATTACK REDS"
Accused of L0Oting the
Venture; Try Diversion

PITTSBURG, Pa. Mar. 23.-"Uut
the bank wreckers in Jail" was the
cry Of an angry crowd OF delegates
to the Central Labor Council here at
their last meeting. The bank officials
answered by saying any attempt to
put them in jail was Bolshevism.
A report had just been made to the
council that the cases against the Of
ficers of the Brotherhood bank,
wrecked by a swindle. might be nolle
pressed by District Attorney Gardner,
and no punishment given the officials.
DepOsitors To Lose
They were also told that all de-
positors in the union bank might in
the course of several months get back
as much as three quarters of their
money, and that the stockholders,
union men and unions, would proba-
bly, get nothing at ALL
The conservative wing Of the Labor [
Council seemed satisfied with this, and |
disposed to protect its friends, the
bank officials. The rest Of the coun- |
ell, however, favored the hiring of a
lawyer to push the cases against all /
those accused of completely in the /
swindle by which the bank lost $685.
900 and had to close its doors. A
compromise was effected by which the
executive board of the council was to
see Gardner and get him TO agree to
prosecute.
Knapp COnfesses
The men indicted on conspiracy
charges in connection with the crash
Of the Brotherhood Savings and
Trust Company, which followed the
100000 bond swindle with Charles
f. Knapp as the central figure, are
Roland A. McCrady, president of the
defunct bank; Frank T. Redman, al
legged broker in the bond deal; J. L.
Nelson and William Kelly, officers of
the bank. and Knapp. District Attor-
ney Gardner has twice, in the past
two days, refused to say whether
these cases are to be nolle pressed.
Knapp pleaded no defense to a
charge of embezzlement in the bond
swindle case and was sentenced to
prison, but still faces the other charge.
Edward A. GoodfelIow, at whose home
part of the stolen bonds were re-
covered. pleaded no defense to a
charge of receiving stolen goods.
Great RcactiOnaries
All of the indicted officials are
great "red hunters" They have con-
tinuously. including the time during
which they are accused of making
way with the bank funds, led a cam
paign against progressive and militant
members.
Nor have they ceased this cam
paign. On hearing of the outburst in
the councils last meeting, McCrady
issued a statement that he was be-
ing prosecuted by "Reds," saying,
"The very labor men who are bowling
that we bank wrcckers be jailed, are
the very ones who refused to help the
bank before the Swindle took place"
which observation may have been
based on the fact that progressive
unionists are not convinced Of the
wisdom of such Labor" banking as
the Brotherhood venture typifies.
Aided BY Headquarters Gang
David ]. Davis, secretary Of the
Amalgamated Sheet, Tin and Metal
Workers hurried to the defense Of
the indicted bank officials with the
remark that he always had trouble
controlling the members who are now
agitated over losing their savings in
the swindle put over by Knapp and
his confederates, and Kelley, also I'M
der indictment, added his word:
"The agitation was stirred up by
bunch Of Reds at the meeting. who
must have something to throw stones
at"
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