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The Morning News
Savannah, Chatham County, Georgia
What is this article about?
Controller Lacey denies New York story alleging Postmaster General Wanamaker delayed Keystone Bank receiver appointment and closure over a $20,000 stock deal, stating Wanamaker had no involvement and bank was closed after fraud discovery.
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A Denial That He Was Mixed Up in the Keystone Bank Muddle.
WASHINGTON, June 6.—Controller of the Currency Lacey being asked to-day about the story published in New York to the effect that Postmaster General Wanamaker delayed the appointment of a receiver for the Keystone bank and then closed the bank because, according to President Marsh, the latter would not give Mr. Wanamaker $20,000 for $150,000 of over-issue stock, said: "There is not one word of truth in that. Mr. Wanamaker had nothing to do with the matter. He neither kept the bank open nor shut it. It was kept open because, as I have explained, I hoped to get it on its feet again, not knowing how desperately injured it was.
A TALK WITH MARSH.
"I discovered by cross-questioning President Marsh when he came to my house one evening that there had been fraud perpetrated. No one on earth knew my determination to close the bank until it was actually closed the next morning except Mr. Drew, when he got my telegram to close it. I never exchanged a word or line with Mr. Wanamaker about the matter, and he had nothing to do with it. I simply did my duty with the light I had, first in keeping the bank open and then in shutting it up."
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Domestic News Details
Primary Location
Washington
Event Date
June 6.
Key Persons
Outcome
denial of wanamaker's involvement; bank kept open initially to recover, closed after fraud discovery via talk with marsh; only drew informed prior to closure.
Event Details
Lacey refutes New York story claiming Wanamaker delayed Keystone Bank receiver and closure over refused $20,000 for $150,000 over-issue stock; states Wanamaker uninvolved, no communication; fraud uncovered in evening talk with Marsh at Lacey's house; bank closed next morning.