Keystone National Bank (Philadelphia, PA)

View Charter #2291 on SPMC View balance sheet

Episode Information

Episode UID
229101092
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
22910 national
Charter Number
2291
Start Date
December 1, 1890
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
de6a166b5e15e6df

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Capital injected, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

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

Initial run in Dec 1890 was followed by official closing by the Comptroller and appointment of a receiver in March 1891.

Events (5)
1. July 30, 1875 Chartered
Source
historical_nic
2. December 1, 1890 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors about the bank's solvency led depositors to withdraw funds; checks were paid out heavily ($350,000) and the bank closed its doors that afternoon.
Measures
Paid checks during the day (about $350,000); closed doors at 3 PM; officials and city treasurer conferred with directors.
Newspaper Excerpt
Owing to rumors afloat for several days, a long line of depositors stood in line all day in front of the Keystone National Bank awaiting their turn to get their money.
Source
newspapers
3. March 20, 1891 Receivership
Newspaper Excerpt
The bank was placed in the hands of a receiver last week. ...the Keystone National Bank, closed by the order of the comptroller...receiver Yardley referenced in later articles regarding execution of his trust as receiver.
Source
newspapers
4. March 20, 1891 Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller of the Currency after examination found reserves below legal requirements and other developments; later receiver appointed.
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 (23)
1. December 2, 1890 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, December 2, 1890

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DOORS CLOSED. Five Banks Unable to Meet the Demands of Depositors. PITTSBURG, December 1st.- An Indiana, Penn., special says the Deposit Bank has failed. The liabilities and assets are unknown. The closing of the doors of the Deposit Company is the result of the failure of B. K. Jamison & Co., Philadelphia. The latter had in their possession cash and securities of the Deposit Company amounting to $45 000 at the time of the suspension. The officials say the deposits aggregate $141,000, and the assets are three times as large. An early resumption is expected. Chief stockholder White spent some time in Philadelphia trying to recover securities or money from the Jamisons, but was unable to do so. He stated to-day that the bank is solvent, and will pay dollar for dollar, and all they wanted was time enough to turn the securit es into money. The principal depositors express confidence. RUN ON A PHILADELPHIA BANK. PHILADELPHIA, December 1st.-Owing to rumors afloat for several days, a long line of depositors stood in line all day in front of the Keystone National Bank awaiting their turn to get their money. So far all checks have been paid, and the bank officials say every demand will be met. Promptly at 3 o'clock the bank closed. Cashier Hayes said the amount paid out during the day aggregated about $350,000. The bank's deposits average $1,200,000. City Treasurer Bardsley, who has $4,000,000 of the city's money on deposit, announced that no attempt will be made to withdraw the money. To-morrow Mayor Fitler and Bardsley will confer with the Directors of the bank. Bank Examiner Drew says the Keystone 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. December 6, 1890 Martinsburg Independent Martinsburg, WV
Article from Martinsburg Independent, December 6, 1890

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FINANCE. Even the money kings of Europe have been going to the wall and making business affairs tremble to their very centre. They did not have any McKinley tariff bill over in London, but the stunted oppertion that Baring Brothers witnessed with all their wealth and their surroundings was about as near a grave yard for earthly hopes as any firm would wish to perceive. In Philadelphia there was a run on the Keystone National Bank for two days, but its principle depositors stood firmly by it and it withstood the storm. The banking firm of B. K. Jamison & Co., old and honored men in the business went under.

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 18, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, May 18, 1891

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EVIDENCE OF FRAUD. Investigation of the Management of the Broken Keystone National Bank. PHILADELPHIA, May 17.-The hearing of ex-President Marsh and ex-Assistant Cashier Lawrence, of the broken Keystone National Bank, was resumed yesterday. BankExaminer Drew told how he found that whole pages had been abstracted from the ledger before the time of examinations, and afterward replaced. Cashier John Hayes testified that he never assisted in making up the bank account for submission to the Comptroller, but he 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 his investigations the money would be returned to the Spring Garden Bank. Several Directors testified that they knew but little of the bank's real condition; that they were never allowed to examine the assets of the bank, as a special committee appointed by Marsh used to go over them.

10. May 28, 1891 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, May 28, 1891

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The collateral was not for the city's account, but for the personal account. He knew they had helped the Keystone in various amounts, from $10,000 to $50,000, but professed not to known that it was to meet any emergency in view of a visit from the bank examiner. When asked why he discounted for Mr. Bardsley long before he had any account there President Kennedy said: "I felt that he was a good man to keep in with. He was an influential man." The younger Kennedy, who is cashier, told how they sent the interest on the state money the first of each month in an envelope carried by a messenger. The $50,000 collateral was sent on the day of the closing of the bank in spite of the fact of Bardsley's long standing discount of a $15,000 note. President Moffey of the Manufacturers' National Bank, swore to a similar arrangement to pay Bardsley three per cent and afterward two per cent on the state money deposited in his own name. Of half a dozen other bankers called to the witness chair all but one admitted that they had long discounted Bardsley's single paper, which had been regularly renewed in a course of years. The disclosures will be greatly facilitated by the fact that Comptroller Lacy has granted permission for the committee to get at the Keystone books in the hands of Receiver Yardley. Governor Pattison to-day nominated William Redwood Wright, of the firm of Peter Wright & Sons, the big shipping firm, to succeed Treasurer Bardsley. He is a conservative Democrat. City Council will contest the right of the governor in filling the office, but a court decision upon this point favor's the governor's position.

11. 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.

12. 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."

13. 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.

14. June 11, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, June 11, 1891

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THE PHILADELPHIA BANK FRAUDS Additional Warrants Issued-A Texas Land Company Assigns. PHILADELPHIA, June 10.-Mayor Stewart, DI. rector of Public Safety Roney, City Solicitor Warwick, and other city officials conferred tonight on the subject of the shortage in the city treasurer's office and the looting of the Key. stone National bank. The result of the conference was that additional warrants were issued for persons connected with the scandais. The officials are very reticent, and the names of the parties for whom warrants were issued cannot be learned. Late this afternoon Edward Magill, assignee of John Bardsley, entered five suits against alleged debtors of Bardsley, to recover the indebtedness to defendant's assigned estate. The first is against the Keystone bank, to recover $945,000, the amount of due bills held. The other four suits are to recover upon four promissory notes, aggregating $22,733. Ephraim Young, president of the Millward Cliff Cracker Company, and director of the broken Spring Garden National bank, was arraigned today charged with conspiracy with Francis W. Kennedy, president of the bank, to defraud the cracker company. Young waived a hearing, and was bound over in $20,000. DALLAS, Tex, June 10.- The Dallas Land and Loan company assigned last night with liabilities of $300,000 and assets of nearly $1,500,000. In an interview today L. Marsalis, the president, said that the company was forced to an assignment, which would be only temporary, to protect its assets. The company was the principal owner of Oak Cliff,a suburb across the'river from Dallas, and had to carry so much paper that it got caught in a tight place. NEW YORK, June 10.-The liabilities of Charles Haight & Co., flour commission merchants, are reported to be about $300,000, and the nominal assets considerably larger.

15. 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.

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 9, 1891 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, July 9, 1891

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EXAMINER DREW MUST GO. Consuls Asked to Look for Marsh--Yard Will Appeal--Broken Banks Dropped. PHILADELPHIA, July 7.-Correspondence of the comptroller of the currency' and Bank Examiner Drew, in which the latter was taken to task for his failure, in his report of January 29th, after 15 days' investigation, to include among the liabilities of the Keystone National Bank $544,851.46, for which it was then indebted on account of clearing house certificates, is made public. Mr. Drew says the omission was clearly an accident. On July 2d, the comptroller requested the resignation of Mr. Drew as a bank examiner, but at latest accounts he had not received it. The mayor has transmitted to President Harrison the resolutions of city councils expressing the wish that the President inform the several ministers and consuls of the United States of the desire of the government to secure the arrest and extradition Bank. of President Marsh of the Keystone Counsel for H. H. Yard have decided to appeal to the supreme court from the decision of Judge Allison ordering Yard to submit himself to the sub-committee on investigation of city councils' finance committee and to be sworn and to testify. The Clearing House Association yesterday dropped the Keystone and Spring Garden National Banks from membership. The executive committee of the depositors of the Penn Trust and Safe Deposit Company, which is now in the hands of a receiver, have addressed a circular letter to depositors asking them to contribute three per cent of the amount of their deposits, to be used to complete the investigation. Ephraim Young and Frank Benton were indicted by the grand jury yesterday, on the charge of conspiracy to cheat the Millward-Cliff Cracker Company of $52,000, by the issue of certain promissory notes and other false and fraudulent means.

18. 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.

19. 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."

20. 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.

21. August 19, 1891 The Morning News Savannah, GA
Article from The Morning News, August 19, 1891

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PHILADELPHIA'S ROTTEN BANKS. The Keystone's Cashier Gets Beven Years at Hard Labor. PHILADELPHIA, PA., Aug. 18.-Charles Lawrence, ex-assistant cashier of the broken Keystone National Bank, who yesterday pleaded guilty in the United States district court, to-day pleaded guilty to two indictments charging him with making false entries in the bank books and with conspiracy with Gideon W. Marsh, president of the bank, to make false entries, was this morning sentenced by Judge Biddle to seven years' imprisonment in the eastern penitentiary at hard labor and to pay a flue of $100 and costs. Franois W. Kennedy, president, and Henry H. Kennedy, cashier of the suspended Spring Garden National Bank, were brought before JudgeButler this morning. The two Kennedys also pleaded guilty yesterday to making false returns to the controller of the currency, misapplying the funds of the bank and making false entries in the books. A SUSPENSION OF SENTENCE GRANTED. After the two men had pleaded guilty Judge Butler was petitioned by their coun. sel to suspend sentence to allow them to get their affairs in 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 today. This morning he decided to grant the petition and postponed sentence until Sept. 8.

22. January 5, 1892 New-York Tribune New York, NY
Article from New-York Tribune, January 5, 1892

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SUED BY JOHN BARDSLEY'S ASSIGNEE. Philad Iphia, Jan. .Edward W. Magill, assignee of John Bardsley, this morning entered suit in Common Pleas Court, against the suspended Keystone National Bank to recover $100,000. Mr. Magill says that on November 25, 1890, the bank received from Bardsley, as a loan for the use of the bank, 100 bonds of the Baltimore Traction Company, valued at $1,000 each. Mr. Magill says that the bank sold the bonds and appropriated the proceeds to its own use.

23. 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.