Show A LOSER IN BANKING SCANDAL I City Faces Big Bond Bon Issue to Cover Win Win- flings S PIUs PIttsburg rg 10 May Maj 18 On 18 On the heels of ot S the closing of or the Allegheny lehen National bank banc today came news this evening that thal the bl big brokerage of James Carothers Co of or Fourth avenue had been forced Into suspension because of an Immense amount of Allegheny National National Na Na- tonal bank stock which the time firm carried carried car car- ried ned as security but which Is not now now- worth much Application TV was as made for fur fora fura a receiver and atH C. C E. E Anderson Andersn of ot Pittsburg Pittsburg Pitts- Pitts burg v was as named by the time courts The he firm lim of Carothers s Co was one of tho largest cst In Pennsylvania nn and ranked next to Whitney Stephenson tho the firm which widel was driven to the wall wal months ago ao Time The firm fm states that It I has 2000 worth of assets but that It owes at tIme the present time an and the failure of the time Allegheny bank has forced It to take this step The rhe city of ot PIttsburg Is so seriously crippled through the time closing of the looted bank that within two weeks It Itma ma may be compelled to make ono one of tho the largest bond Issues In its Is history to obtain fun funds s for the running of tho the government t. t The he city's deposits In the bank banI wrecked Cashier by Montgomery amount to When City Treasurer John Steel rushed to tho the In Institution institution In- In this morning wih with a check for forthe tho the amount National Bank Dank Examiner William L. L 1 Folds laughed hed at him Not more than of the city's deposit deposit was secure secured Plans were under way for securing tho the r rest st of or It It but these hod had been delayed because William llam Mont omer Montgomery tho the defaulting cashier wm was on such friendly terms with all al tho the politicians The state slate of Pennsylvania la Is also In Involved Involved In- In to the extent of State Treasurer J. J O. O with wih Attorney General Cunningham presented the time commonwealths commonwealth's check for Its deposit soon after It had been rebuffed and with wih the tho same samo salo result resul But nut for Foldi Fold assurances assurances the they thoy say they would v have havo withdrawn days ago ugo Montgomery whoso peculations are arc archeld held responsible tor the time downfall of the bank has turned all al his Ils assets over to the bank Montgomery waived a hearing hearing hear hear- ing InS In tho the United Stales Stes court today and was remanded to jail jai |