19085. Keystone National Bank (Philadelphia, PA)

View Charter #2291 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
2291
Charter Number
2291
Start Date
December 2, 1890
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
62a1f46d

Response Measures

Accommodated withdrawals, Public signal of financial health, Full suspension, Books examined

Other: Receiver appointed and criminal prosecutions followed; large embezzlement (Lucas defalcation) discovered.

Receivership Details

Depositor recovery rate
18.0%
Date receivership started
1891-05-09
Date receivership terminated
1902-01-31
OCC cause of failure
Fraud
Share of assets assessed as good
33.3%
Share of assets assessed as doubtful
57.7%
Share of assets assessed as worthless
8.9%

Description

December 1890: discrete run triggered by a rumor about a returned Boston check (misinterpreted as protest). March 20, 1891: Comptroller ordered the bank closed and a receiver was later appointed; subsequent prosecutions and findings of embezzlement/defalcation indicate permanent failure. Although there were attempts and talk of reopening, the bank was placed in receivership and effectively failed.

Events (5)
1. July 30, 1875 Chartered
Source
historical_nic
2. December 2, 1890 Run
Cause
Rumor Or Misinformation
Cause Details
A Boston check was returned for improper endorsement; this was misinterpreted/rumored as a protest/ failure, provoking heavy withdrawals.
Random Run
Yes
Random Run Snippet
Returned Boston check misinterpreted; rumor it went to protest caused run
Measures
Paid out checks (about $350,000 that day); clearing house/other directors supplied cash (reported $500,000 brought by directors); doors closed at 3 PM to control situation.
Newspaper Excerpt
There was a run on the Keystone National bank yesterday, but every check was promptly paid.... A large check from Boston recently sent to the bank and returned because not properly indorsed is said to have occasioned the rumor that the check had gone to protest. This rumor spreading caused the run on the bank.
Source
newspapers
3. March 20, 1891 Receivership
Newspaper Excerpt
The bank was placed in the hands of a receiver last week. ... visit of Mr. Yardley, receiver of the Keystone National Bank of Philadelphia, to Washington. (receiver mentioned in subsequent reports).Also: Comptroller...ordered the appointment of a receiver.
Source
newspapers
4. March 20, 1891 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency ordered closure after examiners reported reserve fund had fallen below legal requirement and following discovery of the Lucas defalcation and other adverse developments.
Newspaper Excerpt
This bank is closed by the order of the comptroller of the treasury. (Signed) N. P. DREW, National Bank Examiner.
Source
newspapers
5. May 9, 1891 Receivership
Source
historical_nic

Newspaper Articles (22)
1. December 2, 1890 Evening Journal Wilmington, DE
Article from Evening Journal, December 2, 1890

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PANIC STRICKEN DEPOSITORS. A Big Bun on the Keystone Bank, of Philadelphia. Philadelphia, Dec. 2-There was a run on the Keystone National bank yesterday, but every check was promptly paid. The bank has a capital of $500,000 and a sur plus of $100,000. A large check from Bos ton recently sent to the bank and returned because not properly indorsed is said to have occasioned the rumor that the check had gone to protest. This rumor spreading caused the run on the bank. President Marsh says the bank is all right. It has about $400,000 of the city's money. Prompt ly at 3 o'clock the doors of the bank were closed. At that hour 200 depositors were inside the building, and quite a crowd was outside. Cashier Hayes said that the amount paid out during the day aggregated adout $350,000. The bank's deposits average, it is said, $1,200,000. A gentleman familiar with the bank's affairs stated that it has about $1,000,000 in discounts. City Treasurer Bardsley, whe has $400,000 of the city money on deposit, kept himself thoroughly informed as to the condition of affairs at the bank. He announced yesterday that no attempt would be made to withdraw the money. Today Mayor Fitler and Mr. Bardsley will, it is said. confer with the board of directors of the bank, and it is thought some action will then be taken relative to the city's money. After a meeting of the directors Vice President Granville B. Haines, a prominent merchant of this city, accompanied by a brother director, left the building and later on returned, bringing with them & large sum of money, said to be $500,000, which had been, it is said, furnished by the Clearing House association. Bank Examiner Drew said that the Key. stone bank is perfectly solvent.

2. December 3, 1890 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, December 3, 1890

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Bank Officers Rejoice. PHILADELPHIA, Dec. 3.-The run on the Keystone National Bank has collapsed. and the officers of the institution, and those who have stood behind it in the hour of its peril, are rejoicing over their victory. Many depositors who drew out their funds have redeposited them.

3. March 21, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, March 21, 1891

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law, and that the institution is still suffering from the effects of the recent run. An earnest effort will be made, the letter added, to fully restore the bank investments. The deposited moneys exceeded 75 per cent, and the total of the late deposits is believed to have been insufficient to swell the reserve fund to the required 25 per cent. These facts were reported to the comptroller of the currency by Bank Examiner Drew, yesterday, and the former promptly ordered the bank closed. The president of a prominent national bank here said in regard to the failure: "The depositors will get their money in full. There is no doubt that no one will lose a dollar, except the stockholders, who will lose only in the depreciation of the value of stock. The bank had been rather loosely managed, and a number of bad debts have been made, but the situation is not so serious as people imagine." WASHINGTON, March 20. -Lacey, comptroller of the currency, said today that it was by his direction the national bank examiners had taken charge of the Keystone National bank of Philadelphia. His action was based on reports received from the examiners, and on other developmeuts. The comptroller refuses to say anything in regard to the condition of the bank until after he hears the result of the examination now in progress.

4. March 22, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, March 22, 1891

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SEEKING A SOLUTION FOR THE WAY OUT OF THE KEYSTONE BANK DIFFICULTIES. A Consultation of Officials Held, but no Decision Arrived At-Four Heavy Stockholders Ready to Act-The Amount of Philadelphia's Deposit Not Known. EPECIAL TELEGRAM TO THE DISPATCH.: PHILADEL PHIA, March 21.-The Keystone National Bank is still closed. Bank Examiner W. P. Drew was about the first person to reach the institution this morning, and an hour later President G. W. Marsh arrived. The bookkeeper was called into the President's office, and for about 20 minutes the three persons were in consultation. When the conclave was ended Mr. Marsh was asked about the present condition of affairs. He said: "There has been no material change. We have been endeavoring to overcome the present difficulty, and think that within a few days we will have good news for all parties concerned. "There are only two ways, however, of bringing about a resumption. One way is to obtain a sufficient advancement of funds from the stockholders to warrant the Comptroller in allowing the resumption. The other way is to realize on the bank's assets in order to reach the same result. My opinion is that it is far better to obtain additional funds from the stockholders. Four heavy stockholders have come forward and said they would stand by me in any course we might conscientiously choose to adopt in trying to bridge the difficulty. "My experience as President of the bank teaches me that the head of a large financial institution should be a man of wealth. As I am not possessed of wealth I am perfectly willing to retire from the presidency when the present trouble is ended." Treasurer Bardsley was seen this afternoon with reference to the deposit of the city's money. He said it would be impossible to tell the exact amount in the bank until Monday or Tuesday next. He admitted placing an extra $50,000 in the bank on Thursday afternoon, in excess of the $400,000, but added that he had given out checks to withdraw part of the amount, and until there was some certainty as to the number cashed, he could not tell just how matters stood.

5. March 24, 1891 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, March 24, 1891

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The Keystone Bank May Resume. PHILADELPHIA, March 24-An effort is being made to establish the Keystone National Bank with new capital. The bank was placed in the hands of a receiver last week.

6. March 26, 1891 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, March 26, 1891

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THE KEYSTONE GOES DOWN. The Philadelphia Bank Closed by Order of the Comptroller of the Treasury-Philadelphia Has a Big Deposit. Philadelphia, March 20.-Soon after the Keystone National Bank opened for business this morning the heavy iron doors were lowered and the following notice was placed upon them: PHILADELPHIA, March 20.-This bank is closed by the order of the comptroller of the treasury. (Signed) N. P. DREW, National Bank Examiner. After the closing of the bank's doors admission was denied to all persons. The closing of the bank was a surprise to most of its depositors. During the financial stringency in the latter part of last year there were rumors affecting the bank's solvency and a heavy run was made upon it, but the institution tided over the run and was thonght to be in good financial condition. The largest depositor of the bank is the city of Philadelphia which has on deposit there about $400,000. The authorized capital of the bank is $500,000 and a surplus of $100,000 was claimed. No statement of the bank's liabilities and assets is obtainable as the officials, directors and Bank Examiner Drew are at present engaged in consultation with closed doors. It is said that the bank was closed by the comptroller by reason of its reserve fund having fallen below the amount required by the national banking law. The bank has a line of deposits amounting to about $1,400,000 and it is claimed for it that it has assets sufficient to meet this amount. WHY THE COMPTROLLER ACTED. WASHINGTON, March 20.-Mr. Lacy, comptroller of the currency, said to-day that it was by his direction that the national bank examiner had taken charge of the Keystone National Bank of Philadelphia. His action was based on reports received from the examiner and on "other developments." The comptroller refuses to say anything in regard to the condition of the bank until after he hears the result of the examination now in progress. PHILADELPHIA, March 22.-It is confidently announced that the Keystone National Bank will resume in a few days. President Marsh says he is not a wealthy man and is ready to retire in favor of some one of greater means whose standing will help the bank. It is probable that the stockholders instead of paying an assessment will give over the management to capitalists, who are ready to advance money provided they are given control. City Treasurer Bardsley holds that he is not responsible for the $400,000 of city money he deposited there, because it was named as a depository of city money for that amount by city councils. Only a month ago he had over $1,000,000 on deposit in the Keystone, but only for a few days. It was soon distributed to other banks. The Keystone has always been to some extent political in its leanings, city contractors having a great deal of business with it. As

7. April 2, 1891 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, April 2, 1891

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The Keystone Bank Will Resume. PHILADELPHIA, April 2.-The affairs of the Keystone National bank are gradually issuing from a state of chaos, and the officers are confident that within a few days the doors of the institution will be again opened for business, which will be conducted on a firmer basis than has existed since the panic of last winter.

8. May 5, 1891 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, May 5, 1891

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NEWS OF THE DAY. The Italian government has decided from motives of economy not to take an official part in the World's Fair at Chicago, An ordinance was introduced in the Balt!" more Council last night taxing each male dog $5 and each female dog $10 S year. The autopsy held in the case of Dr. Bothwell, who swallowed a cork, showed that there was no hope for him after thefirst day. At a railroad camp on the Chattanooga Southern Railroad yesterday four negro laborers were burned to death, in a drunken stupor, in a box car. Charles Pratt, the well-known Standard Oil magnate and vice-president of the company, died suddenly last night at the company's office, in New York. The Monserrate and Guadalupe bills threaten to slide on the city of Bogota, and the people are alarmed. The city authorities have taken steps to avert the disaster. President Harrison left the State of Callfornia yesterday and entered Oregon. He was cordially received. It la stated that the President will occupy bis Cape May Point cottage on bis return from the West. M. Roche, a Paris deputy, was foreibly expelled from the French Chamber yesterday for sbouting "Murderer !" at M. Constans, the Minister of the Interior, who was explaining the causes of the Faurmies affair. President Marsh and Cashier Charles Lawrence, of the Keystone National Bank, Philadelphia, were arrested yesterday afternoon upon a charge of falsification of the bank's accounts, and each of them was held in $20,000 ball. Five children of James Cole, colored, were burned up in their home, which was destroyed by fire, in Prince George's county, Md, Saturday night. The children were in an attic and their father had gone away when the house took fire. Ao address signed by Cathollo committees of Germany, Belgium, Austria, Switzerland and Italy has been presented to the Pope requesting that the work in favor of emigrauts to the United States have an International character, and that national bishops, schools and priests be assigned to it. The commercial treaty between Germany and Austria-Hungary has become a topic of comment by the press of Europe. In its interested ulterior consequences it bids fair to become 8 matter of the greatest concern to the people of the United States. I. is arnounced that Germany and Austria-Hun gary have invited Italy, Swi:zarland and Belgium to join in a convention at Vienna for the avowed purpose of forming & coaliUon of the Central European States against protectionist countries. The recall of Minister Porter is the enhject of considerable speculation among the diplomate in Washington. It has been the policy of the government to continue Mr. Porter at Rome, but the latest "bfuff" 00 the part of the I alian premier leaves it sn open question whether the digoity of the United Sixtes does not require that Mr. Porter should for the present vacate his office. It 18 generally believed tbat while no formal recall will be issued, Minister Porter will be instructed to ask for leave of absence. This will be granted, and he will return to the United States, after placing the eecretary of legation in charge.

9. May 17, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, May 17, 1891

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THE CROOKED KEYSTONE BANK. How Its Shaky Condition was Concealed-Many Business Failures. PHILADELIHIA, May 16.-The hearing of exPresident Marsh and ex-Assistant Cashier Lawrence, of the broken Keystone National bank was resumed today. Bank Examiner Drew told how be found that whole pages had been abstracted from the ledger before the time ol the examination. and afterwards replaced. Cashier Hayes testified that he never assisted in making up the report for submission to the comptroller, but signed it when presented to him by Marsh. He never knew until after the run, of the enormous Lucas deficit. About the time the bank examiner was expected Marsh would borrow about $75,000 cash from the Spring Garden National bank and place it among the assets to keep the reserve up. No entry was ever made of these loans, and when the examiner concluded the money would be returned to the Spring Garden bank. Several directors testified that they knew but little of the bank's real condition, and that they were never allowed an examination of the bank, as a special committee appointed by Marsh used to govern them. Sr. Louis, May 16.-The Milbourn Manufacturing Company, wagon manufacturers, have assigned. Liabilities, $100,000; assets, $150,000. ALLENTOWN, Ps., May 16.-This afternoon a bill in equity was entered against the Keystone Cement Company, and Charles K. Whitehead and Stanley W. Dexter, trustees, to foreclose a mortgage for $100,000. Antonia Navarro, husband of Mary Anderson, is president of the cement company. NEW YORK, May 16.-The Anglo-Foreign Bank ing Company, of London, filed judgment today for $103,000 against Sawyer, Wallace & Co., grain merchants, due on a bill for exchange. SPRINGFIELD, Mass., May 16.-The Winona Paper Company, of Holyoke, was adjudged insolvent this afternoon. SAN FRANCISCO, May 16.-Bradstreet's Mercantile Agency reports sixteen failures in the Pacific coast states and territories for the week ending yesterday, as compared with fourteen for the previous week, and seventeen for the corresponding week of 1890. WASHINGTON CITY, May 16.-The Evening Critic has ceased publication and has been placed in the hands of a receiver, HAMILTON, Ont., May 16.-J. M. Williams & Co., stove manufacturers, have assigned. Debts, $40,000.

10. June 4, 1891 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, June 4, 1891

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THE KEYSTONE BANK. WASHINGTON, June 3.-Mr. - Lacey, comptroller of the currency, replying to criticisms of the bureau for having allowed the Keystone National bank, of Philadelphia, to remain open for business after the discovery of the Lucas defalcation, said that, as a matter of fact, both the closing of the bank and the appointment of the receiver were ordered by the comptroller against the unanimous advice of all. The delay had been caused by a desire to see if the bank could not be helped out of its trouble, and thus protect its creditors. Similar measures, Mr. Lacey said, had caused the re-opening for business of at least four national banks, whose capital had become seriously impaired during the past six months, and two more will open soon.

11. June 4, 1891 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, June 4, 1891

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TO BENEFIT CREDITORS. Mr. Lacey Explains the Delay in Closing the Keystone Bank. W ASHINGTON, June 4.-Mr. Lacey, the comptroller of the currency, replying to criticisms of his bureau for having allowed the Keystone National bank of Philadelphia to remain open for business after the discovery of the Lucas defalcation, said: "As a matter of fact both the closing of the bank and the appointment of a receiver were ordered by the comptroller against the unanimous protest of all who had sufficient interest to express an opinion. There were many reasons why it was especially desirable to avoid a receivership, notably on account of its assets being so largely in real estate, which could only be sold by a receiver under order of the court, and hence at great disadvantage. Hence to were the yield the comptroller made to several to reopen hopeful deemed the attempts it bank his duty by which contribution of new capital under new and competent management. "A a matter of fact it was officially reported to the comptroller that $300,000 of new capital had been subscribed and that the Lucas estate was expected to make good all amounts which a complete examination should show to be due from them. Recent developments have shown that these plans could never have been carried out, but they were sufficiently promising at the time to warrant the delay asked for. In short, whatever was done was with the sole purpose of best serving the interests of creditors of the unfortunate bank."

12. June 4, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 4, 1891

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# Comptroller Lacey Defends Himself. WASHINGTON, June 3.-Referring to the criticisms of his bureau in connection with the Keystone bond failure of Philadelphia, Comptroller Lacey said, to-day, as a matter of fact, both the closing of the bond and appointment of a receiver were ordered by the comptroller against the wish of one who has sufficient interest to express his opinion; that there were many reasons why it was desirable to avoid a receivership, notably on account of its assets being so large in real estate, hence the comptroller deemed it his duty to aid in several hopeful attempts made to reopen the bank by contributions of new capital, under new management. As a matter of fact, it was officially reported to the comptroller that $300,000,000 of the new capital had been subscribed and that the Lucas estate was expected to make good all amounts due. Recent developments have shown these plans could not have been carried out, but they were sufficiently promising at the time to warrant the delay asked for. Similar measures, Lacey said, have caused the re-opening for business within the past six months of at least four national banks whose capital become impaired and two more will open soon.

13. June 5, 1891 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, June 5, 1891

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COMPTROLLER LACEY Replies to Criticisms in Relation to the Philadelphia Matter. WASHINGTON, D. C., June 4.-Mr. Lacey, the Comptroller of the currency, replying to-day to criticisms of his bureau for having allowed the Keystone National Bank, of Philadelphia, to remain open for busineis after the discovery of the Lucas defalcation, said: "As a matter of fact both the closing of the bank and the appointment of a receiver were ordered by the Comptroller against the unanimous opinion of all who had sufficient interest to express it. There were many reasons why it was especial. ly desirable to avoid a receivership, notably on account of its assets being so largely in real estate, which , could only be sold by a receiver under order of the court, : and M hence at great disadvantage. Hence the Comptroller deemed it his duty to aid in the several hopeful attempts which were made to reopen the bank by the contribution of new capital, under new and competent management. As a matter of fact it was officially reported to the Comptroller that $300,000 of new capital had been subscribed, and that the Lucas estate was expected to make good all amounts which complete examinationsehould show to be due from them. Recent developments have shown that these plans could never have been carried out, but they were sufficiently promising at the time to warrant the delay asked for. In short, whatever was done was with the sole purpose of best serving the interest of the creditors of the unfortunate bank.' Similar measures, Mr. Lacey said, have caused the reopening for business of at least four national banks whose capital had become seriously impaired during the past six months, and two more will open soon.

14. June 11, 1891 The National Tribune Washington, DC
Article from The National Tribune, June 11, 1891

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Asked to Investigate the Treasury Department, Postmaster-General Wanamaker has been asked to appear before the committee of Philadelphia Councilmen, at present engaged in investigating the affairs of City Treasurer Bardsley and the wrecked Keystone National Bank. The committee want Gen. Wanamaker's testimony as to his knowledge of the bank's affairs. Mayor Stuart, of Philadelphia, has written a letter to President Harrison, requesting him to have an investigation made into the action of the Treasury Department with regard to its delay in closing the Keystone Bank, and its appointment of a receiver for said bank; that the Comptroller of the Currency be instructed to appear before the committee of these Councils appointed to investigate the said bank, and that the receiver of said bank be directed to permit the said committee or its expert accountants to examine and inspect any and all the books, documents and records of the said bank. The President will take no action in the matter until he has conferred with Secretary Foster, who is not in Washington.

15. June 12, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, June 12, 1891

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THE KEYSTONE-BANK WRECK. Comptroller Lacey's Report with Respect to It-Examiner Drew Suspended. [By telograph to the Dispatch.) WASHINGTON, June 11.-Mr. Lacey, Comptroller of the Currency, has completed the preparation of his report in regard to the Keystone National Bank of Philadelphia. It is a very long and exhaustive document and gives a detailed and circumstantial account of the Comptroller's action in the matter, together with the reports received from the examiner in charge, on which such action was mainly based. The President will transmit it to the Mayor of Philadelphia as a full and complete response to the resolutions of the Common Council. Comptroller Lacey will not appear before the local committee conducting the investigation in Philadelphia, theauthorities here having concluded that it would be establishing a bad precedent to allow anybody other than Congress to investigate Federal officials, and to have access to the official records of the Government. It is expected that the Comptroller's report will supply all the information in that officer's possession required by the committee conducting the municipal investigation. An important fact in connection with the investigation that does not appear to be generally known, is that Bank-Examiner Drew has been suspended from duty pending the result of an investigation into his administration and has been instructed to examine no more banks in his district for the present.

16. June 29, 1891 Evening Star Washington, DC
Article from Evening Star, June 29, 1891

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CONTROLLER LACEY said this morning that there was no special significance attaching to the visit of Mr. Yardley, receiver of the Keystone National Bank of Philadelphia, to Washington. He came simply to consult with the controller of the currency in regard to matters pertaining to the execution of his trust as receiver.

17. July 15, 1891 Juniata Sentinel and Republican Mifflintown, PA
Article from Juniata Sentinel and Republican, July 15, 1891

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minutes and 20 seconds. Miss Sudie Drier of Lewistown is the guest of her friend Miss Gertie Frank in Patterson. Miss Carrie Bouser, of Martinsburg, Blair county, is visiting her friend Miss Marion Scholl. Banker, E. S. Parker of Washington D. C., dropped in among his numerous friends here on Tuesday. Robbin's show was stranded by the sheriff of Huntingdon county, and failed to exhibit here on the 13th as advertised. The Meyers and Juniatas played a match game of ball on Monday afternoon. The score stood 7 to 5 in favor of the Juniatas. Jacob Basom, of Richfield was at the county seat on business a day or two ago. He reports the peach and wheat crop about Richfield most promising. Eli Weidman, brother of Squire A. H. Weidman died at his home near McAlisterville on the 9th inst., aged 74 years. Interment last Sat- in the McAlisterville Lutheran grave yard. During a veteran sham battle at a picnic in Perry county, "One veteran was shot in the leg with a gun wad and an other received a knock in his head from the butt of a musket during a charge." E. Dunn & Company have a saw in their mill a mile and a half from town from which they turnout first rate shingles. If you have shingle timber that is the place to have it converted into first rate shingles. Bardsley, the jailed Philadelphia City Treasurer, keeps on talking but every time his conversation reveales nothing as to the whereabouts of the million dollars except that he put it in the broken Keystone National Bank: Mrs. Benjamin Cook, and daughter of Ackron, Ohio, are visiting in Patterson. Mrs. Cook is a daughter of Jacob Frank deceased, who in his days was known as one of the first merchants in Patterson. It is reported that democratic senator Brice, of Ohio, was a citizen of New York state, when elected by the Onio Legislature to a seat in the U. S. Senate, and is therefore ineligible to the office to which he was elected. We are indebted to A. C. Pannebaker for the Pueblo Chieftain published in Pueblo, Colorado, Sunday July 4th, 1891. The paper arrived here on the 9th, four days after publication. The Chieftain is up to eastern city Sunday newspapers. Simpson Graybill, was killed at Harrisburg on the 7th inst., by being run over by the train on which he was breaking. His remains were brought to Port Royal, this county, for interment on the 10th inst. A wife and four children mourn his loss. J. L. Van Gundy, of Lewisburg, visited the family of Mr. Joseph Rothrock near town, and the family of Mr. John Kirk in town, and other families in Juniata last week. Mr. Van Gundy is professor of Latin and Natural Science in Hagerstown Seminary, Md. Have you tried South American Nervine—the gem of the century? The great cure for Indigestion, Dyspepsia and Nervousness. Warranted the most wonderful Stomach and Nerve Cure ever known, Trial bottles 15 cents. Sold by L. Banks & Co., Druggists, Mifflintown, Pa. Nov. 14, ly. List of letters uncalled for remain, ing in the Post Office at Mifflintown, Pa., for the week ending July 11th 1891. Persons calling for mail in this list will please say they are advertised. One cent will be charged for each letter advertised. Letters: Thomas Hamilton, D. A. W. Zeiders, W. J. Hains. James McCauley, P. M. Ten young men and ten young ladies from this town visited the family of Dr. Shelly in Port Royal last Thursday evening. One of the conductors on a passenger train was so suprised at the handsome delegation, that in his enthusiasm he exclaimed. Why where in the world did they all come from, and all about one age. # RHEUMATISM CURED IN A DAY. "Mystic Cure," for Rheumatism and Neuralgia, radically cures in one to three days. Its action upon the system is remarkable and mysterious. It removes at once the cause and the disease immediately disappears. The first dose greatly benefits. 75 cents. Sold by L. Banks & Co., Druguists, Mifflintown. Feb. 18, 4m. On the 8th inst., Reuben Meyers, aged about 22 years, son of Rev. Christ Meyers of Tuscarora Twp., was found dead in the passage way with a gun shot.

18. July 23, 1891 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, July 23, 1891

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# DUE BILLS WON'T ACCOUNT FOR IT. "How many of these checks do you hold and what do they aggregate?" "I hold three checks, paid to John Bardsley between July 16th, 1890, and September 30th, 1890, amounting to $6,677.78; and 31 checks paid to him between October 10th, 1890, and May 22d, 1891, amounting to $1,264,729.79, in all $1,271,407.57. Of the whole sum $755,860.58 was recived by John Bardsley between December 11th, 1890, and May 22d, 1891, which was after the run on the Keystone Bank had ceased. The sum of $193,605.74 was received by him after the Keystone Bank had closed its doors and every bit of it, save the first mentioned sum of $6,677.78, was received after Mr. Bardsley deposited the money in the Keystone Bank which he claims to be represented by the due bills, which, it will be remembered, bear dates running from February Sth, 1890, to October 6th, 1890. What still further strengthens my view of the matter is the fact that in examining the indorsements of the checks I find that but $47,947 represented by eight checks, bear the clearing house stamp of the Keystone National Bank. One check amounting to $50,083.33, bears the written indorsement of John Bardsley and G. W. Marsh, president. So that it would appear that only $98,030.33 went in the direction of the Keystone Bank, while eighteen checks, representing $570,652.87 bear the clearing house stamp of the Third National Bank. Seven checks, representing $602,724.37 were checks drawn to 'cash' or to 'John Bardsley' or 'bearer,' and do not bear an indorsement of any kind, but appear to have been paid by the bank upon which they were drawn either in cash over the counter or by exchanging their own due bills for these checks. "While it is possible that the tracing of the checks representing the large sum of money may result in proving that Mr. Bardsley placed most of it in the depositories where he kept the funds entrusted to his care as city treasurer, nothing but a careful examination and a thorough analysis of the facts would satisfactorily prove what disposition was finally made of it. The mere fact that so large a sum as $600,000, represented by seven checks, should be drawn to 'cash' or 'bearer' would appear as something very unusual. Business men, as a rule, exercise greater care in the transmission of such large sums of money in the settlement of accounts, and this fact alone, it seems to me, would justify a careful examination of the accounts." my belief that it is possible that efforts may have been made to quietly and safely hide the funds represented by some of the other checks."

19. August 19, 1891 New-York Tribune New York, NY
Article from New-York Tribune, August 19, 1891

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A BANK WRECKER SENTENCED. THE LATE CASHIER OF THE KEYSTONE BANK GETS SEVEN YEARS-OTHER SENTENCES POSTPONED. Philadelphia, Aug. 18.-Charles Lawrence, ex-cashier of the broken Keystone National Bank, who yesterday pleaded guilty in the United States District Court to two indictments charging him with making false entries in the bank's books and with conspiracy with Gideon W. Marsh. president of the bank, to make false entries, was this morning sentenced by Judge Butler to eight years' Imprisonment in the Eastern Penitentiary at labor and to pay a fine of $100 and costs. The Judge subsequently reconsidered Lawrence's sentence, and reduced it to seven years' imprisonment. Francis W. Kennedy. president, and Henry H. Kennedy, cashier, of the suspended Spring Garden National Bank, were also brought before Judge Butler this morning. The two Kennedys also pleaded guilty yesterday to making alse returns to the Controller of the Currency, to misapplying the funds of the bank, and to making false entries in the books. After the two men had pleaded guilty, Judge Butler was petitioned by their counsel to suspend sentence to allow them to get their affairs into order. and also on the ground that they could be of great assistance to the receiver of the bank in disentangling Its affairs. Judge Butler reserved his decision on the matter until to-day. This morning he decided to grant the petition, and postponed sentence until September 8.

20. August 19, 1891 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, August 19, 1891

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LAWRENCE GETS SEVEN YEARS. The Sentence of the Two Kennedy's Postponed Until September. Philadelphia, Aug. 18.-[Special.]- |Charles Lawrence, ex-assistant cashier of the broken Keystone National Bank, who yesterday plead guilty in United States District court to two indictments charging him with making false entries in the bank's books and with conspiracy with Gideon E. Marsh, president of the bank, to make falso entries, was this morning sentenced by Judge Beade to seven year's imprisonment in the eas. tern penitentiary at hard labor and to pay a fine of $100 and costs. Francis W. Kennedy, president, and Henry H. Kennedy, cashier of the suspended Spring Garden National Bank, were brought before Judge Butler this morning. The two Kennedy's also plead guilty yesterday to making false entries to the comptroller of the currency, misplacing the funds of the bank and making false entries in the books. After the two men had pleaded guilty Judge Butler was petitioned by their counsel to suspend sentence to allow them to get their affairs into order. and also on the ground that they could be of great assistance to the receiver of the bank in disentangling its affairs. Judge Butler reserved his decision on this matter until to-day. This morning he decided to grant the petition and postponed sentence until September S.

21. September 11, 1891 The Evening Herald Shenandoah, PA
Article from The Evening Herald, September 11, 1891

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EXPERTS STOP WORK. The Appropriation to Examine the Key. stone Bank Runs Out. PHILADELPHIA, Sep. 11.-Experts Lawrence E. Brown and Taylor Faunce have stopped work as government agents in examining the books of the defunct Keystone National Bank, made necessary by the exhaustion of the special appropriation to pay experts on defunct banks. The suspension was unexpected, as no one dreamed that such a paltry sum as $5,000 was the total applopriation for work that might include hundreds of the 5,000 national banks in the country. This state of affairs is particularly unfortunate in the Keystone Bank's case, as it will necessarily greatly impede the investigation, although Secret Service Agent Albert Barrett. who is employed on a salary, will continue the work. Mr. Faunce to-day said that he and Mr. Brown had just reached a place where they saw daylight in the darkness, which has surrounded the mysterious disappearances of the money from the bank. Had they continued on the books they had expected to shortly clear up the mystery. Messrs. Brown and Faunce will continue, however, to work on Bardsley's accounts for the city.

22. January 7, 1892 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, January 7, 1892

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After the Keystone. PHILADELPHIA, Jan. 5.-Edward W. Magill, assignee of John Bardsley, entered suit in common pleas court against the suspended Keystone national bank to recover $100,000 Magill says that November 25, 1890, the bank received from J. Bardsley, as a loan, 100 bonds of the Baltimore Traction Co., valued at $1,000 each, the bank promising at the same time to return the bonds or give face value for them and that on November 25 President Marsh gave Bardsley a receipt for them but sold them and appropriated the proceeds to their own use.