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of your communication of the 21st instant, and to express my regret that I cannot at this time
give you the information you ask. There is undoubtedly an embarrassment in the city treasury,
owing to the delinquency of the broker who for several years past has negotiated the city loans,
and I have been, since the discovery of this fact, and still am occupied in endeavoring to avert
or lessen the loss with which the city is threatened.
I am, very respectfully, GEORGE W. STENER.
OFFICE OF THE MAYOR OF THE CITY OF PHILADELPHIA
GEORGE W. STENER, ESQ., October 21, 1871. City Treasurer.
DEAR SIR--Under the existing circumstances you will consider this as a notice of withdrawal
and revocation of any requisition or authority by me for the sale of loan, so far as the same has
not been fulfilled. Applications for loans may for the present be made at this office.
Very respectfully,
JACOB BORCHARDT, Mayor of Philadelphia.
And did Mr. Jacob Borchardt write the letters to which his name was attached? He did not. Mr.
Abner Sengstack wrote them in Mr. Mollenhauer's office, and Mr. Mollenhauer's comment when
he saw them was that he thought they would do--that they were very good, in fact. And did Mr.
George W. Stener, city treasurer of Philadelphia, write that very politic reply? He did not. Mr.
Stener was in a state of complete collapse, even crying at one time at home in his bathtub. Mr.
Abner Sengstack wrote that also, and had Mr. Stener sign it. And Mr. Mollenhauer's comment
on that, before it was sent, was that he thought it was "all right." It was a time when all the little
rats and mice were scurrying to cover because of the presence of a great, fiery-eyed public cat
somewhere in the dark, and only the older and wiser rats were able to act.
Indeed, at this very time and for some days past now, Messrs. Mollenhauer, Butler, and
Simpson were, and had been, considering with Mr. Pettie, the district attorney, just what could
be done about Cowperwood, if anything, and in order to further emphasize the blame in that
direction, and just what defense, if any, could be made for Stener. Butler, of course, was strong
for Cowperwood's prosecution. Pettie did not see that any defense could be made for Stener,
since various records of street-car stocks purchased for him were spread upon Cowperwood's
books; but for Cowperwood-- "Let me see," he said. They were speculating, first of all, as to
whether it might not be good policy to arrest Cowperwood, and if necessary try him, since his
mere arrest would seem to the general public, at least, positive proof of his greater guilt, to say
nothing of the virtuous indignation of the administration, and in consequence might tend to
divert attention from the evil nature of the party until after election.
So finally, on the afternoon of October 26, 1871, Edward Strobik, president of the common
council of Philadelphia, appeared before the mayor, as finally ordered by Mollenhauer, and
charged by affidavit that Frank A. Cowperwood, as broker, employed by the treasurer to sell the
bonds of the city, had committed embezzlement and larceny as bailee. It did not matter that he
charged George W. Stener with embezzlement at the same time. Cowperwood was the
scapegoat they were after.
Chapter XXXIV
The contrasting pictures presented by Cowperwood and Stener at this time are well worth a
168 / 312

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