OCR Text |
Show HOW THE BANK DID BUSINESS, A Fletltleu. Capital raal.l by N'stea .f Ik. Director. Kept In Mtuek. riiiLADRM'iiiA, July SI. Another tory of queer financiering came out today, Tim National Bank of the Ke-pubiieotNew Ke-pubiieotNew York receutly entered suit here against Ephraiin Turlaud. to recover the amount due on certain promissory notes of which Turland was tli. maker. In the affidavit of the defense Turland says ho never received any valne of any kiild fiotn the now, it having been obtained ob-tained from him by fraud and imsrepre-mentation imsrepre-mentation on tho part of President Kennedy of the Spring Garden bank t the li'mo of tho money stringency, lit) was on. of thti directors of the bank, which ha aiuce failed ami Kennedy represented to him that, owing to the stringency of tho money market, tho bank was borrower of cash until their await nintured and iu viuw of thin ftel, it would bo wisu to ttrnKthea the loau hy a dwpos'.t of ppftciat commercial ppT, and for this purpose Turland nimle the note in iiiulion and srvarol more on Kenn-ily't Kenn-ily't promiMi that tho papor would be protected al maturity and reil.omtd. Tui'hiud goes on to My that h kuowt that the tank at the time was fraudu-! fraudu-! Icntly insolvent, that Kennedy and two ' oi hf r dirctoi had borrowed $il il',0i)0 ' of the capital atock of the bank adding in conclucion that tho booktofthe bank were criminally 1'aUitied to deceive the bank bxamiuer. |