The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-04-13
COMPTROLLER KNOX EXPLAINS.

conrPTROLLER KNOX EXPLAINS.
WAsulNeroR. April ~ -[Pless. J. The
committee on hlhkiug and currency called
upon oomptfoll Knox for al papers aud
correspondent IN he once reist'ye 20 TIE
Pacific National bank, Ct Boston A
number Di charges against huo1
have been placed before the com.
mittee since TIE recent investigation,
by the "a crslary Of the committee OF st0cs-
holders OF tbs Psciic bank A copy Of these
charees was hauded the comptroller to-day,
in oder chat he might answer them. A
mem her of the committee says that with
few exceptiOns they sro timilar 10 those
previously fled before the committee
ana that mo new cbrrges are that
Benean, president Of the deiunot bank,
was q detsulter whom appointed, aud thet
Knox knew 70; that Knox knew the bark
was insolvent when the capital stock was
increased IN 1879 cad again III 1881. Ihe
comptrollor eAid TO reporter OF tue Asso-
ciated Press tonight: II have to-day
recaiyed- a communication signed by The sec
retarv oI the committee OF the shsreholdef5
of the Pacific n National Bank. IL Is SOME
what Extraordinary that tho communics-
iion does not lear the signature OF single
aherehojder, There ~ not sioele allega.
tion. though they are fourteen in number,
that mas not already been answered in the
pamphlet containing my statement. There
is no proof whatever accompany
ling the allegation. they are SIMPLY
Ia repetiiion of the statement made
Inv ihs attorney OF the stock
hoders before the banking and currency
commi,tee. The iirlt allegation refers 10
tne iagt chat a. sugAu, pregilcnt OF the -
cffjo bank. was formerly presid snt OF tue
: National hxchsngs bank, OF Boston, ann
that he was Obliged 10 resign irom that
office. This lacs was fully stated in my
reply bs!ore the COMMITTEES and
also STATED tuat rothHithstenti1 x
the fact OF Bsngan's disgrace he associated
with him Tor the pai pose OF the oreaulza-
! ton of new bank persons in Boston and IN
lthe state OF Maine, who were recommended
10Y persons Of congress as oeipg persons on
the highest charac er aud standing. Auer
the orvan,z.tinu OF the Pacific bank, not
withstsnding he had been OBLIGED 10 retire
from the presidency OF the Exchange bank
he was tor two succe, ding years re,
elected director by the sh2rehold r
and president by the direct r. of lhe "a,
eli bank, altogether he held but $l,UOp
stock nc any time There is nothing In 0
law that prevents shareholders from elect
INC any mao director or OF the directors
electing any man president, PROVIDED ne
T. holds the requisite amount OF stock. me
CONF troiler has no authority 10 prevent
tha organizaliop OF bank by any class OF
man, nroylded the capital stock IL paid
mn and other restrictions OF the act COM
Mia 4 with One Of The allegations IL that
did not bring suit against the directors
Nv Ranney. n M EN- her OF congress, who ~
attorncv Tor the receiver, stated beiors the
hankirg currency committee that the de.
Law bnd been occasioned by the attorney oil
the shareholders, who is associated With
him in the suit. Another charge is that
the committee did cot have all
ths pspers and correspondence In my
office. The whole correspondence has been
furnished 10 the attorney IN Boston, ana
avery M aterial fact printed Tor The use oil
the court. Since that time 1 nave gwen
everything In my st,temeSs before ins
banking aud currency committee. ~
would be much more manly for The share
holders, who are hiding IN me nark'
n nlare their names TO these nlleg ~ ,ns.
Nv whole action In reference 10 the officers
ostba Pacific bank was based on the 'eports
vi ths hank examiner ard chiefly on the
'lreports of the dirtctore themselves, VINO are
Ehe agents OF the shareholders. Inc only
Snesfion that can arise IS in reference 70 my
sonetruction OF the law, and that Is ior the
'l0ourts TO decide. The compiaipie OF snare
holder have arisen from the TACT that suits
Are being prosecuted rs vigorously rs posi-
Bile, ~ the laws require.
THE DANGER OVER.
WAsBrrsros, April a. Press! The
Z ~.~retsrv If var has received telegram
\5rom Major Stickney, Of the engineer corps
a Nav Orleans, as follows: II nave re-
<urned from an inspection OF levees. me
vhois line along Tensas parish 'front.', is
bsdIv broken. fhe grade was mucn VOC
Low for this food and water poured over ine
tcrs Of the ievees for miles. There rre no
6resks 10 tbs Concordia parish ron. sxceps