efee2fd3a8946090Full suspension, Books examined
Click image to open full size in new tab
SUICIDES ON EVE OF CRASH. PITTSBURG, Pa., Oct. 18,-T. L Clark, cashier of the Enterprise National bank, committed suicide this morning. The comptroller of the curs rency later ordered the bank closed, declaring It Insolvent. Examiner Cunningham was appointed receiver.
Click image to open full size in new tab
Involved in the Allegheny City Bank Failure. Searching investigation Shows Money Loaned Politicians. With Little Security---Amount of State Funds a Matter of Doubt. Pittsburg, Oct. 19.-The investigation of the affairs of the Enterprise National Bank. of Beaver avenue, Allegheny City, Pa., the doors of which were closed, yesterday afternoon, by the comptroller of the currency. following the sensational suicide of S. T. Lee Clark, the cashier, is making good progress. Far into, last night, and the early hours of today, John B. Cunningham. national bank examiner, who was appointed receiver of the institution, pending his investigation, asisted lenro force labored stead-
Click image to open full size in new tab
WILL SUE DIRECTORS. Depositors to Take Action in Enterprise Bank Case. [By Telegraph to The Tribune.] Pittsburg, Oct. 21.-The directors of the Enterprise National Bank to-day engaged counsel for a pending legal fight, to be started in the Alleghany County court on Monday. T. P. Trimble, attorney for the bank, and also for T. Lee Clark's estate, will probably be retained by the Clark estate, and a three cornered fight will be begun. The action against the directors will be begun by the depositors, under the act of May 9, 1889, which reads as follows: Any banker, broker or officer of any trust or savings institution, national, State or private bank, who shall take and receive money from a depositor, with the knowledge that he, they or the bank is at that time insolvent, shall be guilty of embezzlement, and shall be punished by a fine of double the amount so received and imprisonment of from one to three years in the penitentiary. Yesterday and to-day about $100,000 of the Enterprise Bank notes were lifted. Examiner Cunningham put all the notes and discounted paper in charge of the Bank of Pittsburg, of which Wilson A. Shaw is president, with privilege to lift the same. Negotiations are now under way for the sale of the Santa Fe Central Railroad Company by the Pittsburg owners. It is said several offers have been made for the property, and at least two of the three railroads which now have connection with It are among the negotiators. These roads are the Denver and Rio Grande, the Rock Island and the Santa Fe. "The Pittsburg Leader" to-day says that there is every evidence that the politicians said to be responsible for the failure of the Enterprise National Bank are hurrying to pay the notes in an effort to conceal traces of their identity, and Receiver John B. Cunningham, who is in charge of the bank, does not deny 1t.
Click image to open full size in new tab
comes up. Jim Walsh bested Peter Stanley of London in a fifteen round bout at Boston last night. The Grand Junction sugar factory made a record run the other day, handling 470 tons of beets. The Denver Republican is running a serial story in the shape of annual tax sale. Occupies twelve pages. The Denver university football team is playing the football team of the Utah university at Salt Lake City this afternoon. Four women returning from a the ater party in Pittsburg were run into by a racing automobile and all were injured, one possibly fatally. The town hall and twelve other buildings of the town of Alma, Colo., were burned Wednesday night. Dyna0 mite was used to save the town from 1 being wiped out. t S The Enterprise bank of Allegheny City, that loaned money on straw se. curity to politicians, will be short g something like $1,200,000, according to y the present outlook. d e a The Denver fire and police board, I Patterson machine, has defied Judge Johnson in his order putting the lid on in Denver. But the court has the best of the deal and the law violators are hiding out. d k The Treasury mine and mill at Red : Mountain, near Ouray, were closed on k Thursday for an indefinite period. The e only reason assigned for the shutI down is for the purpose of reorganize ing the board of directors. g 1George Simmons, the 18-year-old son l of George R. Simmons, assistant gene eral manager of the Moffat road, was eslightly injured in a football game ten it days ago; and Thursday blood poison r'set in and he is not expected to live. r al Walter Ritesman, of Fort Collins, r who on Tuesday pleaded guilty to the et charge of violating the age of consent o law. was sentenced Thursday to a g term of not less than five nor more d than ten years at hard labor in the of penitentiary. of S recivered $90,000 of the $101,000 stold. en by Clerk Cunliffe and will probably d secure the balance. Cunliffe has been n taken back to Pittsburg, where he will re have to stand trial and do penance in nt some prison for a term of years. a in It is reported at the state house r that a number of the subsidiary comte panies to corporations have notified Id the state board of equalization that n unless the $70,500 valuation is reinnstated against the Santa Fe Refrigere ator Dispatch company they will appear before the supreme court and d mandamus the board to rescind the g valuations placed against their ed panies. Among those interested in e this are said to be the Globe Express ficompany, owned by the D. & R. G., e and a number of similar companies. n
Click image to open full size in new tab
# CUNNINGHAM KNOWN HERE Receiver for Looted Pittsburg Bank Was Formerly Bank Examiner in Nebraska. National Bank Examiner J. B. Cunningham, who has been placed in charge as receiver of the Enterprise National bank of Pittsburg, Penn., is a former Nebraskan, having been an attorney at law at Lincoln prior to his appointment as national bank examiner. Vice President C. F. McGrew of the Omaha National bank was a national bank examiner for Nebraska at the same time with Mr. Cunningham and knew him quite well. Mr. McGrew said Sunday: "I think that it was in 1898 that Mr. Cunningham was appointed examiner. John W. McDonald, also of Lincoln, was appointed at the same time, through the instrumentality of Comptroller of the Currency Dawes. Mr. McDonald was assigned to one of the southern districts, Florida, I believe, but afterwards resigned. Mr. Cunningham was subsequently transferred to Kansas and then to West Virginia, and has been employed as national bank examiner since. I have not seen him for several years. In fact he had gone nearly out of my memory, until recalled by his being placed in charge of the Enterprise bank at Pittsburg."
Click image to open full size in new tab
STATE IS AMPLY SECURED Treasurer of Pennsylvania Talks of Funds in Defunet Allegheny Bank. HARRISBURG, Pa., Oct. 23.-State Treasurer Mathuews was at his office today for the first time since the failure of the Enterprise National bank of Allegheny, in which more than $1,000,000 of public funds were deposited. He said that at the time of the failure there was $1,030,000 of state money in the bank, of which $632,000 belonged to the general fund and the balance to the sinking fund. Asked about the report that security which had been furnished by the bank to protect the state from any loss in case of failure was worthless, Mr. Mathuews said he had every reason to believe that the state was amply protected. He also said that these bonds would more than cover the amount of the state's deposit and that he was not giving himself any concern about this feature of the case. A receiver was appointed this afternoon for the National Cable and Wire company, a corporation of which the late T. Lee Clark, cashier of the Enterprise bank, was president. J. H. Hunter was named as receiver and a preliminary injunction was granted by the court restraining the company from disposing of or incumbering the assets in favor of any particular creditor. The company is capitalized at $500,000, half of which is preferred stock. None of the common stock has been issued, but $151,400 worth of the preferred stock has been sold and is now outstanding.
Click image to open full size in new tab
WASHINGTON. It develops that there is a complete deadlock over every feature of the Panama Canal problem. Secretary Taft is on the point of going to the Isthmus to bring order out of chaos, if possible. The United States Supreme Court decided that State Senator Green, of New York, must stand trial in Washington on the charge of conspiring with Beavers and others to defraud the Postoffice Department. The Supreme Court, at Pittsburg, heard argument and reserved decision on an appeal from the opinion of the Chester County Court, that neither of the rival Republican factions in that county 's entitled to the party column on the official ballot. Samuel Spencer, president of the Southern Railway, interprets Presiden Roosevelt's utterances as indicating that his rate policy has been modified. PENNSYLVANIA. State Treasurer Mathués, the Republican leader of Delaware county, said he would retire from politics.when his term ended. FOREIGN. Morgan and Uerkins are reported to be unfavorably impressed by the terms of the Russian loan. Mobs for two days have fought with the police of Santiago, Chile. Many have been killed and wounded. MISCELLANEOUS. Notes aggregating at least $500,000 are missing from the ruined Enterprise National Bank, of Pittsburg. These notes represent paper held as security for the loans made by Cashier Clark, and, it is declared. contain the names of prominent State politicians. The notes probably have been destroyed, and it is said that they were destroyed by the dead cashier. A remarkable lack of system in the method of conducting the affairs of the Enterprise National has been disclosed by the investigation now under way. A Pittsburg banker expresses the belief that within forty-eight hours every bit of damaging political paper will be taken up, leaving in the bank only legitimate and well secured notes. Clark's suicide has caused the naming of a receiver for the National Cable and Wire Company. of which Clark was president. More than $2,000,000 sinking fund and $4,000.000 of the general fund are deposited in Pittsburg and Allegheny banks, the Enterprise National being particularly favored. Governor Folk fought fire in the executive mansion at Jefferson City, Mo., conducted his wife and guests to safety and saved the portraits of his predéces sore. A report was current in New York that Charles F. Murphy. the Tammany leader, and Senator McCarren will be called as witnesses in the insurance inquiry, DEATHS. Jerry Simpson, at Wichita, Kan,
Click image to open full size in new tab
HIS SHORTAGE MAY REACH $2,000,000. Directors of Alleghany Bank Will Not Know Actual Deficit Until Auditor's Work Is Done. PITTSBURG, Pa., Oct. 23.-It was announced today by National Bank Examiner John B. Cunningham, receiver of the Enterprise National bank of Allegheny, that the audit of the accounts of the institution will not be completed before the latter part of this week. The directors and stockholders of the bank are still in the dark concerning the deficit and do not know whether the private loans made by Cashier Clark will reach $700,000 or greatly exceed that amount. Mr. Gwinner, president of the bank. when pressed for-a statement, said he did not know whether the shortage would be $1000 or $2,000,000. W. A. Seiling. a director, said the prospects were brighter and the bank would soon be able to open its doors. It is reported that 11 syndicate is buying the accounts of the small depositors at 50 cents on the dollar, but sales are few. as the depositors are hopeful of getting back every cent of their money. HARRISBURG, Pa., Oct. 23.State Treasurer Matthews today said that at the time of the Enterprise bank failure there were $1,030,000 of state money in the bank.
Click image to open full size in new tab
DOMESTIC. A step in the dark plunged Bruno A. Bahr, a messenger boy, eleven stories down a ventilating shaft at Chicago, III., killing him. An association was formed of Mutual Life policyholders in Minnesota to oust the McCurdys from the company. John F. Stevens, chief engineer of the Panama Canal, denied a rumor that he would resign. Upward of 500 delegates are expected at Chattanooga, Tenn., for the Southern immigration and quarantine conference, November 9 and 10. After a week's trial the charge against Charles M. Chamberlain of wrecking the Chamberlain Bank, at Tecumseh, Neb., has been dismissed. The President of the wrecked Enterprise National Bank. at Pittsburg, Pa., says the shortage will reach $1,500,000. David S. Scott, who forged his wife's name to obtain funds, requested a Pittsburg (Pa.) judge to send him to prison. New indictments have been found at Cleveland, Ohio, against O. L. Hays and Edward Flickinger, charged with violating the National banking laws. Sequoia trees have been sent from the National parks in California to the Yellowstone Park and promise to thrive there. Three hundred Syrians rioted at Liberty and Church streets, New York City. Daggers and pistols were drawn and a dozen men were wounded. Herman Schultz knelt at the coffin of his sucide son at their home in New York City, and sent a bullet through his own brain. Five miners were killed by the cavein of a slope in a Utah copper mine. Receivers took charge of the Tubular Dispatch and New York Mail and Transportation Companies and the pneumatic mail tube service in Manhattan (New York City) was stopped. In ten factories in the mountain distriet 1500 men of the Amalgamated Window Glass Workers of America will go to work at once. Beef Trust men indicted in Chicago, 11., filed a special plea, contending that estimony given by them in the Governnent beef inquiry had been used in obtaining their indictment, and therefore they could not be prosecuted on that finding.
Click image to open full size in new tab
# MISCELLANEOUS. The railroad system of Russia is almost completely tied up and socialists say, since troops cannot be transported, the government is at their mercy. Fifteen were killed in conflict at Ekaterinoslav and massacres took place in many cities in Russia. Secretary Shaw told Nebraska bankers that there will be no financial legislation until the nonelasticity of our currency causes a panic, which may be soon. The Norwegian government asks the storthing for complete power to negotiate with Charles of Denmark relative to taking Norway's throne. The census bureau issued a report placing the number of bales of cotton ginned this year at a figure in excess of 4,000,000. A St. Louis woman gave out plans for a new $1,000,000 university for study of the occult. An American collector of customs was wounded and his native assistant killed in the Santo Domingo riots. It is feared that the bloodshed will fan the latent revolution. A Pittsburg lawyer says that of the $2,500,000 resources of the failed Enterprise national bank of Allegheny only $40,000 was on hand when the institution was closed, and that collateral deposited to secure loans were rehypothecated. Secretary Taft announces his cabinet position suits him and that he will not be a candidate for president. Papers have been served on a woman Spiritualist to recover $1,000,000 which she is alleged to have obtained from Pierre Lorillard Ronalds, the dead New York clubman. The headless body of a woman found in the Bronx river was identified by a New York merchant as his missing wife. The semi-annual conference of the college of bishops of the Methodist Episcopal church, comprising the governing body of that denomination, began in Washington. Sereno T. Merrill died in Beloit, Wis., aged 90 years. He came to Beloit in 1846, and was the first teacher in Beloit college. By the caving in of a slope in the Highland Boy copper mine at Bingham, Utah, five men were instantly killed. A new party in Canada to be known as the national, proposes to treat Great Britain as a brother, not as a parent. A bride of two months was found dead in Chicago, with her husband, evidently her murderer, fatally shot beside her. Admiral Togo made a triumphant entry into Tokio and, cheered by thousands, drove to emperor's palace to report officially the return of his victorious warships. The Pennsylvania's new car order brings that road's expediture for equipment for the year up to $26,000,000. The New York police have been ordered to arrest all women who appear unescorted on the streets of the tenderloin after ten o'clock at night. Gov. Folk, of Missouri, commuted the sentence of Edgar G. Bailey, who was to have been hanged at Kansas City for murder, to imprisonment for 99 years.
Click image to open full size in new tab
BANK EXAMINER IS DISCHARGED. COMPTROLLER OF CURRENCY TAKES FIRM STAND IN CASHIER CLARK'S CASE. Failure to Discover Conditions in Enterprise National at Allegheny (Pa.) Subject for Action. WASHINGTON, D. C., Nov. 4.The comptroller of the currency today removed from service Bank Examiner R. H. Mattern, on account of his failure to discover the conditions existing in the Enterprise National bank of Allegheny City, Pa. Owen P. Reeves, Jr., has been appointed to fill the vacancy. Mr. Reeves has been an assistant bank examiner in New York city. No Suspicion on Examiner. The case of Examiner Mattern has been carefully investigated and he has been given a full opportunity to be heard in his own defense. According to a statement issued by Comptroller Ridgely there is not the slightest ground for suspicion of any criminal intent on the part of Mr. Mattern or any corrupt collusion with the officers of the bank. He was, however, it is claimed, entirely too credulous in his acceptance of their statements, and careless and inefficient in his examinations. Schoolma'ams Storm Bank. PITTSBURG, Pa., Nov .4.-A swarm of women, mostly school teachers, attempted to storm the Enterprise National bank. Rumors became current that some depositors were to be paid off. Receiver Cunningham ordered the doors barred. It is reported that Receiver Cunningham has made the former employes of the bank sign over their properties to him. He has learned, it is said, that the tellers. bookkeepers and assistants knew of the bank's condition; that he made each one confess that the handwriting on the books was theirs, but that the cash and securities were not as they represented in the accounts; and that they said Cashier Clark compelled them to make false entries under threat of dismissal. Depositors May Get 25 Per Cent. Receiver Cunningham intimates that a final settlement may result in the payment of 25 per cent. to the depositors. The bank directors will make a legal battle on any judgments filed against them. Clark's Books Are Opened. The personal books and papers of Cashier Clark of the Enterprise National Bank of Allegheny, which were found in the dead cashier's desk, were taken up by the examiner today for the first time. It is hoped that in these personal or private books will be found some trace of the missing funds of the institution. Churchman-Banker Confesses. DES MOINES, Nov. 4.-C. H. Dye, vice president of the Tabor State bank at Tabor, treasurer of Tabor college, a trustee of the Congregational church there and treasurer of the local school district, confessed that he had forged notes amounting to between $50,000 and $75,000, which had been discounted by the bank. The bank was closed and the auditor of state immediately dispatched an examiner. The officers claim it is solvent despite the loss. The bank has a capital of $25,000 and deposits amounting to $165,000. He Floated Oil Schemes. Dye declares he abstracted the money from the bank to float oil schemes in Kansas in competition with the Standard Oil company. He also had been operating through the Chicago board of trade and sought to corner the stock of several large mining properties in the west. He took chances on the board and in mines to recoup himself for the oil losses. His father may make good for him. There is no disposition to prosecute the son if the losses are made good. The young man has lived in Tabor twelve years, serving as cashier of the bank for ten years. It was not until he was made a vice president that he attempted to get rich quickly.
Click image to open full size in new tab
MISCELLANEOUS. Prince Louis of Battenberg and a British fleet arrived at Annapolis. He was royally welcomed by American officers. A statement by T. Lee Clark, cashier of the defunct Allegheny bank, written a few hours before his suicide, charges W. H. Andrews with causing his ruin. Dr. C. H. French, president of Huron (S. D.) college, announced that Ralph Voorhees, of New Jersey had given the college $100,000. The corn crop in the southwestern portions of the belt is badly damaged by heavy rains, wet weather causing mold and decay. Mrs. Henry T. Evans, wife of a director in the National Biscuit company, committed suicide in Chicago by hanging. The boom of Speaker Cannon for the presidency was launched by Senator Hopkins at a Hoopeston (III.) banquet. New treaty with China designed to end the hardships and abuses prevalent at present by providing for the examination of prospective immigrants at the port of departure abroad, instead of at the port of arrival, is sought by President Roosevelt, Secretary Metcalf and Commissioner of Immigration Sargent. Constantine Andrew was crushed to death under a fall of rock in the mine of the Gallatin Coal company near Nashville, III. The old union flag was struck throughout Sweden and the new Swedish ensign was hoisted to accompaniment of salutes, the ringing of church bells and parades of troops. Five American missionaries have been murdered at Lienchow, China. Direct charge of fraud is made by the receiver of the Enterprise national bank of Allegheny against W. H. Andrews, republican machine leader, in a suit to recover $55,000. Former President Cleveland eulogized J. Sterling Morton at the unveiling of a statue at Nebraska City, Neb. Proceedings to oust the Mutual and New York Life companies from Ohio were begun at Akron. Two men were killed and others are buried under the wreckage caused by a head-on collision on the Shenandoah division of the Norfolk & Western railroad near Nace, Va. Rival interstate commerce law conventions in Chicago adopted resolutions on the question of railway rate regulation and provided for lobbies to attend before congress in behalf of their views. Secretary Hitchcock is hot on the trail of land grabbers throughout the country. Booker T. Washington declares President Roosevelt's southern trip has relieved the race issue. Five women were badly burned, two of them probably fatally, in a fire which destroyed the hardware factory of M. Gould Sons & Co. at Newark, N. J. Loss, $60,000.
Click image to open full size in new tab
BANK EXAMINER IS DISCHARGED. COMPTROLLER OF CURRENCY TAKES FIRM STAND IN CASHIER CLARK'S CASE. Failure to Discover Conditions in Enterprise National at Allegheny (Pa.) Subject for Action. WASHINGTON, D. C., Nov. 4.The comptroller of the currency today removed from service Bank Examiner R. H. Mattern, on account of his failure to discover the conditions existing In the Enterprise National bank of Allegheny City, Pa. Owen P. Reeves, Jr., has been appointed to fill the vacancy. Mr. Reeves has been an assistant bank examiner in New York city. No Suspicion on Examiner. The case of Examiner Mattern has been carefully investigated and he has been given a full opportunity to be heard In his own defense. According to a statement issued by Comptroller Ridgely there is not the slightest ground for suspicion of any criminal intent on the part of Mr. Mattern or any corrupt collusion with the officers of the bank. He was, however, it is claimed, entirely too credulous in his acceptance of their statements, and careless and inefficient In his examinations. Schoolma'ams Storm Bank. PITTSBURG, Pa., Nov .4.-A swarm of women, mostly school teachers, attempted to storm the Enterprise National bank. Rumors became current that some depositors were to be paid off. Receiver Cunningham ordered the doors barred. It is reported that Receiver Cunningham has made the former employes of the bank sign over their properties to him. He has learned, it is said, that the tellers, bookkeepers and assistants knew of the bank's condition; that he made each one confess that the handwriting on the books was theirs, but that the cash and securities were not as they represented in the accounts; and that they said Cashier Clark compelled them to make false entries under threat of dismissal. Depositors May Get 25 Per Cent. Receiver Cunningham intimates that a final settlement may result in the payment of 25 per cent. to the depositors. The bank directors will make a legal battle on any judgments filed against them. Clark's Books Are Opened. The personal books and papers of Cashier Clark of the Enterprise National Bank of Allegheny, which were found in the dead cashier's desk, were taken up by the examiner today for the first time. It is hoped that in these personal or private books will be found some trace of the missing funds of the institution. Churchman-Banker Confesses. DES MOINES, Nov. 4.-C. H. Dye, vice president of the Tabor State bank at Tabor, treasurer of Tabor college, a trustee of the Congregational church there and treasurer of the local school district, confessed that he had forged notes amounting to between $50,000 and $75,000, which had been discounted by the bank. The bank was closed and the auditor of state immediately dispatched an examiner. The officers claim it is solvent despite the loss. The bank has a capital of $25,000 and deposits amounting to $165,000. He Floated Oil Schemes. Dye declares he abstracted the money from the bank to float oil schemes in Kansas in competition with the Standard Oil company. He also had been operating through the Chicago board of trade and sought to corner the stock of several large mining properties in the west. He took chances on the board and in mines to recoup himself for the oil losses. His father may make good for him. There is no disposition to prosecute the son if the losses are made good. The young man has lived in Tabor twelve years, serving as cashier of the bank for ten years. It was not until he was made a vice president that he attempted to get rich quickly.
Click image to open full size in new tab
BANK HAS TWO SETS OF BOOKS Sensational Discovery Made by Receiver of Wrecked Allegheny Institution. PITTSBURG, Pa., Nov. 14.-If the latest report concerning the Enterprise bank is true, Receiver Cunningham is in possession of a duplicate set of books kept by persons in the bank between August 25 last, when federal examination was made, and the day the bank closed its doors. This information comes from one of the directors of the Enterprise bank, who appeared to be surprised that no mention had been previously made of this incident in the examination of the bank's accounts. The finding of the books was some days subsequent to the suicide of Cashier Clark and a perusal of them had been of invaluable assistance in tracing to their source many of the fraudulent financial transactions that wrought the wreck of the bank. It is said Examiner Moxey carried with him to Washington a complete copy of these accounts. and upon them the federal government will base its criminal suits. Just who will be hit by the contemplated action is a matter of conjecture. The presumption is that Clark had not sole knowledge of these books and was not the only person who made entries in them. It is known that certain employes of the Enterprise bank have been compelled to secure the receiver by giving judgment notes and making real estate transfers. The inquiry into the reason for this elicits the information that these employes secured loans from the bank that have not yet been met. What the sums aggregate is not known. but Receiver Cunningham insisted that these loans be secured by notes and property transfers of equivalent value.
Click image to open full size in new tab
THE WORLD'SNEWS PERSONAL AND SOCIAL Mrs. Harriet Miss Susan Upton B. Anthony, Mrs. Hu-ted Taylor and Ida Harper made a plea to the President 111 behalf of Leman suffrage. Mrs. Isabella S. McSparren was award. er $18,000 the Intrad and Gripper en verdect against Washington Phila- Tidlroad for received in in wreck at Chadd's Ford Junction, in 1904. WASHING CON. of the will a strong effort to Remake Supporters Administration capture the publican organization in Ohio. Shaw. who is to address Secretary before make an the branch the Retirement to emCivil submitted Service Treasury treasury Department Association. of has ployes questions relating to their financial condition. President Roosevelt in addressing a delmen, gave a egation of leather scathing rebuke to Henry M. Whitney, recent candidate for ernor whom Democratic of of Massachusetts, L'eutenant he accused Govmisquoting him in campaign will The Administration disapprove speeches. the movement on the Isle of Pines for secession from Cuba and annexation to the United States. The real reason for Representative Burton's for the is campaign Speakership, it said. is his desire for the floor leadership of the House. PENNSYLVANIA. Three men were killed and were injured by an of on explosion dynamite seven railroad construction work near Safe Harbor. A receiver for the Henry Roever Company, of Chester, was appointed at Media on application of Senator Sproul. men were killed an of gas a new mine shaft at Eight in by Bentleys- explosion ville. FOREIGN Ambassadors of the Powers at Constantinople presented to the Porte an ultidemands with is and all matum Macedonia. making Refusal expected. respect to save Germany are preparing to send warships to Piraeus, SPORTING. Swarthmore defeated Lafayette in annual football game by the score of 27 to o. over Haverford triumphed Jefferson Medical College 29 to 5. Carlisle Indians lost to Massillon team 8 to 4. Marshall P. Reynolds, Pennsylvania's great fullback, was not allowed to matriculate in the Law Department at the University. MISCELLANEOUS United States Circuit Judge Van Devanter overruled the demurrer to the third of Senator atindictment Burton, whose torneys filed a plea in bar to prosecution. The crew of the Fall River schooner James F. Parker was rescued by a tugboat and the United States with the tied Dahlgren, captain torpeodboat to the wheel and his wife and two to avoid outward deckhouse, being swept men to the by immense waves. States Telephone has a franchise The United Company acquired Independent granted to the old Mercantile Electric in New York and will Company endeavor to conduct a general telephone business in New York city under it. in New York met Ballot reformers city and approved the adoption of the Australian in chusetts ballot, which Massa- party columns are abolished and names of candidates are arranged in alphabetical order. Receiver Cunningham of the of National Bank, Alleghany, Enterprise began another suit against W. H. Andrews for to be due on one of $90,000. which alleged notes, was indorsed by the dead cashier, T. Lee Clark. James H. Hyde, before the Insurance Investigating Committee, told of four that of Ryan for the able offers stock. besides EquitThey were made, said Mr. Frick and Mr. by by Gage E. Hyde, George by Gould, Mr. Tarbell, Harriman, representing a syndicate, and by these offers were Young. All verbal George and W. that of Mr. Young, the largest, was for $7,000,000. E. H. Harriman made a series of denials of made Mr. on Mr. Harriman Tuesday. the charges After by had Hyde testified Mr. Hyde was recalled, and reaffirmMr. myer was to ed his previous refused testimony. permission cross-ex- Unteramine Mr. Harriman. B. B. Odell Former Governor requested Chairman Armstrong to call him before the to give him an to testify committee under opportunity oath in reply to Hyde. R. Hearst court concerning method of William the obtained orders counting of and the production of tally sheets for his the latter offer election McClellan, contest. through To Mayor Judge Parker, said that he had no opposition to offer.
Click image to open full size in new tab
# Duplicate Set of Books. Receiver Cunningham, of the failed Enterprise National Bank of Allegheny, Pa., is reported to have come into possession of a duplicate set of bank books kept by persons in the bank between the time of the last Federal examination and the date of the failure of the bank.
Click image to open full size in new tab
# STATEHOOD LEGISLATION would be bright prospects for the enactment of statehood legislation were it not for the fact that the statehood advocates cannot agree among themselves. Especially in the eastern pair of territories—Oklahoma and Indian Territory—is there bitter factional strife. One party wants the territories made into one big state and the other demands separate statehood, at least for Oklahoma. There is not serious agitation for separate statehood for the Indian Territory, because such a thing is recognized as out of the question. Advocates of joint statehood appear just now to be the stronger, especially since they have enlisted President Roosevelt in their ranks. He told a delegation from Oklahoma the other day that he would recommend in his message that the two territories be admitted as one state. Not much is being heard from New Mexico and Arizona as yet, but their boomers will be on hand when the time comes. "Bull" Andrews, the delegate in congress from New Mexico, is too busy just now extricating himself from the affairs of the failed Enterprise National Bank of Allegheny City to give much attention to the question of statehood. President Roosevelt has demonstrated that while he may be impulsive he is not vindictive. Walter S. Elvidge, the chauffeur who was summarily dismissed from the government service because he allowed his machine to interfere with the president's carriage, will be reinstated, after a suspension of sixty days. When Mr. Roosevelt had time to think it over, he didn't want to deprive the man of his means of livelihood. There is no admission, however, that the president was wrong in ordering his dismissal. It is made plain that the reinstatement is an act of clemency, not of justice. "Uncle Joe" Cannon, who will be the speaker of the 59th congress, arrived in town this week, sun-burned and ruddy and looking the picture of rugged health. He said his early arrival was in order that he might open up his house and "get a line on things," preparatory to the winter's work. Now that the speaker is here, members will arrive on every train. The make-up of the house committees for the new congress is a burning question and many anxious members will feel it incumbent upon them to have personal interviews with the speaker. There are a number of vacant chairmanships, chief of which is that of appropriations, and the scramble promises to be a lively one. As yet, the speaker is mum as an oyster on the committee question. He would have you believe that not a thought had he given the subject all summer long. Were the speaker to make the declaration outright we would have to accept it as true, of course; but it is mighty certain that other members of the house have thought hard and long and prayerfully on the question of committee places.
Click image to open full size in new tab
The failure of the Enterprise National Bank of Allegheny, Pa., has precipitated a receivership for the Santa Fe Central and it is rumored that an offer has been made for the property by the Gould people who propose to extend it to a connection with the Texas Pacific at El Paso. This would give the Rio Grande an outlet to the Gulf of Mexico, long sought for by its management.
Click image to open full size in new tab
CLARK'S ASSOCIATE FAILS. Joseph Hastings Assigns Because Allegheny Bank Failed. Pittsburg. Pa., Dec. 19.-Joseph Hastings, for years associated in business with the late Cashier Clark of the defunct Enterprise Bank of Allegheny. made an assignment yesterday. The amount of the assignment will be possibly $500,000. The Union Trust Company of Pittsburg was made receiver. Counsel for Mr. Hastings Issued a statement last night saying that his client had been nulled down through trying to take care of bills of Clark. Mr. Hastings was president of the Ohio Valley Water Company, and was connected with many other large enterprises. both in Pennsylvania and other States. He was the owner of an immense stock farm in Kentucky.
Click image to open full size in new tab
# HIS RECORD IS CLEAR. Candidate for Mayor of Allegheny Not Connected with Enterprise Bank Failure. Washington, Feb. 9. -A short time ago Charles F. Kirschler, candidate for Mayor of Allegheny, Penn., wrote to the President saying that a certain preacher of his city had been charging him, sometimes openly and sometimes by insinuations and innuendoes, with responsibility for the failure of the Enterprise National Bank, and asking that the matter be investigated. The President referred the letter to the Secretary of the Treasury, and he in turn asked the Controller for a report. The Controller's letter to the Secretary of the Treasury is as follows: I return herewith a letter from Mr. William Loeb, jr., secretary to the President, and also a letter addressed to the President by Charles F. Kirschler, president of the Provident Trust Company and Republican nominee for Mayor of Allegheny, Penn. As requested by you I have asked Thomas Rinaker, receiver of the Enterprise National Bank, and Edward P. Moxey, Special National Bank Examiner, detailed to investigate the affairs of this bank at the request of the Department of Justice, whether there is anything implicating Mr. Charles F. Kirschler, or in any way connecting him with the failure of the Enterprise National Bank. Mr. Moxey writes as follows: "Thus far in my investigation I have not run across a record of any transaction that Charles F. Kirschler had with the bank, either as a maker or indorser of any note. His name does not appear to be among the depositors of the bank." Mr. Rinaker writes and telegraphs me practically to the same effect, so that I am safe in saying that there has not been found in the Enterprise National Bank any evidence at all to justify any charge that Mr. Kirschler was connected, directly or indirectly, with the failure of that bank.
Click image to open full size in new tab
# Bank Receiver Reports.. Pittsburg, Pa., special: The first report of the receiver of the failed Enterprise National bank of Allegheny, Pa., shows total assets of $2,199,520, with $3,130,585 liabilities.
Click image to open full size in new tab
# SANTA FE CENTRAL DEAL. The Tallmadges of Chicago Take Hold of Project Which Broke Pittsburg Bank. CHICAGO, March 3.-E. R. Tallmadge of C. L. & E. R. Tallmadge to-day corroborated the report that his firm is negotiating for the Santa Fé Central Railway and that the success of the deal is assured. "My brother and I have been working on this deal for several months, and I have just received word from him at Pittsburg that our offer will be accepted," said Mr. Tallmadge. The transaction represents about $2,500,000. The Santa Fé Central is the road involved in the recent failure of the Enterprise National Bank of Allegheny, as a result of which Lee Clark, the cashier, committed suicide. It is 60 miles long and runs from Santa Fé to Torrence, N. M. The Chicago capitalists intend to extend the road westward into the Pecos Valley, and will seek an Eastern outlet, probably at Fort Worth, Tex.
Click image to open full size in new tab
FIVE ARRESTS MADE IN ENTERPRISE BANK CASE AFTERCLAP IN SENSATIONAL FAILURE OF ALLEGHENY INSTITUTION. Three Clerks and Forest B. Nichols, Private Secretary to William H. Andrews, and George E. Cooke, an Alleged Partner of Cashier Clark, Who Committed Suicide, the Men Taken Into Custody - Arraigned Before United States Commissioner and Released on Bonds of $5,000 Each. Pittsburg, March 26.-Five arrests were made to-day as a result of the affair of the Enterprise National bank of Alleghany, which suddenly closed its doors last October following the sensational suicide of its cashier, T. Lee Clark. Deputy United States marshals took into custody Forest B. Nichols, private secretary to William H. Andrews; Charles Menzemer, George R. Ralston and Edward P. McMillan, employes of the Enterprise bank and George E. Cooke, an alleged partner of Cashier Clark, in several real estate deals. The charge against Menzemer is that as clerk of the bank he certified checks drawn upon the bank by persons who had not sufficient funds on deposit to meet the checks drawn and so certified, this constituting a false certification. Nichols is charged with conspiring with an officer of the bank who is not named to abstract and wilfully apply unlawfully monies, funds and credits of the bank. Ralston and McMillan, who were clerks in the bank, are charged with making false entries in the books to defraud the bank, while Cook is charged with conspiring to defraud the bank by getting false credits. The charges were formulated some time ago but the warrants were not issued because the officials desired to secure evidence that was being taken in certain civil proceedings. The men were arraigned before a United States commissioner and furnished bonds in $5,000 each. The arrests are a climax in a most sensational financial collapse and are the result of the investigation made by Bank Examiner Edward P. Moxey, who furnished the information to United' States Commissioner William T. Lindsley. The information was baseed of to the use the funds alleged of conspiracy Enterprise of bank Nichols in the interest of the Santa Fe Central Railroad company and the Pennsylvania Construction company. of the ibank is one The story failure of of the tragedy EnOne was throughout. last terprise the community morning startled in October by the Cashier Clark shooting at news ted suicide that by Simultaneously had bis residence commita suburb. of the bank was the in Bellevue, closing announced. among excitement was caused and the Great many depositors started. rumors The ot' heavy defalcations were of the bank later funds of the directors that the bank had admitted been but it was many bestatus of the bank's misused, fore the weeks affairs beknown. Even at this date no statement of the came definite probable receive div- has idend that the creditors will been made although partial reports have been made to the comptroller of the currency, A warrant was also issued for Thomformer paying teller of the but he has not yet bank, as Harvey, been be found. placed under arrest, as the could not there are In add sixty-eight Twenty-two counts are against the six men. Nichols, six against against Ralston, seventeen Menzemer, against eleven Cook, against McMillan, eleven against and one against Harvey, All the charges are for acts alleged to have been done between June, 1903, and the date of the closing of the bank,
Click image to open full size in new tab
like $7,500,000 has been stolen by dishonest bank employes in that city. The banks have concluded that the best course before them-while not wisbing to east suspicion upon anyone is to photograph every one of their employes and take their measurements by the Bertillon system, SO that, when a next defalcation may occur, the police authorities all over the world will have the last embezzler marked down as minutely as though he were the most elusive Max Shinburn who ever alternated between safe-cracking and jail service. If there was one bank officer who would have surrendered his complete control of millions rather th submit to being "mugged" by the police, it was William Montgomery, cashier of the Allegheny National, under arrest in connection with the disappearance of $839,000 of deposits and the entire $500,000 worth of capital stock. He was the intimate friend and confidant of Senator Quay. the man who placed Quay's bets during the Harrison campaign, when Quay won $250,000, and the trusted handler of the moneys of the political machine in that section of the State. When the Allegheny National went down-or up- -the State was backing it with $532,000 of deposits and the city of Pittsburg with $1,532,000. Private depositors were SO wary that they let it have little. When the crash came, after a series of speculations in stocks, the police reported the discovery of no photograph of Montgomery, even during their investigations of the suddenlyacquired fortune of a Pittsburg widow whose wealth leaped in eight years from $10,000 to $333,000. and of other women in Pittsburg and neighboring cities, whose real estate investments had increased with remarkable facility. While the fate of the Allegheny National's money still hung in the balance. pending the decision of Montgomery's allies as to restitution of the million that had gone, a man returned to Pittsburg who for nearly three years had left the police bitterly regretful that the Bertillon system was not compulsory there before the Enterprise National of Allegheny co!lapsed in October. 1905. He was Thomas W. Harvey, teller of the Enterprise. who, in the vain hope of escaping the penalty for his share in the crime, had given up his identity and his home, to wander amid agonies of dread until his fearful spirit could no longer bear the strain. He surrendered himself to the Federal authorities, and on the same day was sentenced to seven years in the penitentiary-and that with no more notoriety than if he were a purse snatcher. Pittsburg was learning to wash its dirty linen with neatness, silence and dispatch. Yet the Enterprise embezzlements were among the most sensational ever known in the State of Pennsylvania. The losses amounted to $1,500,000. It was a "political" bank, like the Allegheny National, and hundreds of thousands of its deposits had gone out to politicians on notes which, unsecured at best, had disappeared when the cashier, T. Lee Clark, both poisoned and shot himself, to make sure of death. Speculation, women and gambling was the way the stolen millions went When the Union Trust Company of Pittsburg discovered its loss of $385,000 in 1906, almost on the anniversary of the Enterprise run. the thieves proved to be a couple of mild young persons, Clinton B. Wray, the teller, and C. S. Hixton, the individual bookkeeper. The gambling crooks took it off these two marks in large chunks Both received ten years apiece when their defalcations were discovered. While the gamblers were enjoying the Union Trust Company's cash, the bucket shops were getting during the year between March, 1907, and March of this year $520,000 taken from the Farmers' Deposit National Bank by Henry Reiber, the paying teller, and John Young. the auditor. They proved themselves fools as simple over wildcat curb adventures as the boys of the Union Trust did over crooked cards. For ten years those two presumably experienced financiers had been stealing $1,105,000 from the Farmers' Deposit Bank. and no one, among either officers or directors. had suspected them. They, too, have been sentenced to ten years each. Pittsburg's example has given the State of Pennsylvania a record that puts the dashing depredations of bank robbers in the Southwest, with their masks and their revolvers, to the blush of poignant shame. SHORT NEWS NOTES. Fire in the lumber yards of the Lake