Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-06-12
STAR: WASHINGTON D c. FRIDAY JUNE r. 1891
THE PHILADELPHIA BANKS.

Text Of the Presidents Letter to Mayor
stusrt-Exsminer Drew's Suspension.
The following is President Harrison letter
TO Mayor Stuart, previously referred to in The
STAR:
EXECUTIVE MANSION.
WASHINGTON, d. c., June 8, 1891
Hon. Edwin s. Stuart, Mayor, Philadelphia:
SIR: l am in receipt Of your letter Of June
o. and in reply thereto beg to say: The con-
troller Of the currency is. under the law, in
immediate. and, in large sense, independent,
control of all matters pertaining to national
banks. Everything relating to the examine
ton Of such banks. to the appointment of re-
ceivers and to the winding up OF insolvent
banks is under his direction. An examination
OF the relation of his Office to the keystone
National Bank will, therefore, disclose all that
has been done by the Treasury Department.
The Secretary of the Treasury was absent
when your letter was received, but upon his re-
turn this morning / conferred with him and
the controller and as a result of that confer
ence, the controller stated that he would pre-
pare at once full statement Of his entire action
IN connection with Keystone National Bank Of
Philadelphia and would submit this report
without delay to the Secretary Of the Treasury
who will transmit a copy to you.
Your request that committee of the coun-
ell or Its expert accountants be allowed to ex-
anime and inspect all the books, documents
and records of the bank has been referred to
the controller. with the suggestion that under
the advice OF the district attorney the receiver
permit an examination, by proper represent
tative of the creditors, into all matters and ac-
counts and particularly of accounts where
frauds or irregularities are charged, with such
reservations of confidence the interest of
the creditors of the bank or the ends of public
justice make necessary.
L of ha
government, having any public duty connected
with this matter DESTROYS to cooperate with
the creditors OF the bank in all measures calcu-
lated to protect their interests and to hold to
proper accountability every person having
guilty completely with the failure.
Very truly yours, BENZ. HARRISON.
Upon receipt of the Presidents letter Mayor
Stuart telegraphed Secretary of the Treasury
Foster the following: THE President, replying
to my COMMUNICATION relating to city councils
action concerning the Keystone National Bank,
informs me that you will forward copy of state
ment OF controller Of the currency as soon as
possible.
Il very much desire this statement tomor-
row Thursday afternoon by 3 o'clock, that
may transmit it, together with the President 8
letter, to city councils in session then, and not
again until the following week 1t will be a
great accommodation If this request posi-
bly, be granted"
TO this came the reply: "The correspond
oHCe 10 NoiuHllHous anu we may not De able 10
complete copies by the time you name.'
BANK EXAMINER DREw's SUSPENSION.
The announcement of Bank Examiner Drew's
suspension was not exactly surprise to the
authorities in Philadelphia and others who
have been interested in the keystone and
Spring Garden Bank complication. This was
not due to any particular knowledge affecting
Mr.. Drew's integrity, but grows out of the open
dispute between Mr.. Drew and Controller
Lacey respecting the formers reports to the
treasury on the condition of the keystone
Bank before it was closed. District Attorney
Read heard of the suspension while trying a
case He said he was very sorry for Mr.. Drew
but declined to be interviewed on the subject.
Receiver lardley knew nothing about the
suspension. but said that such a move WAS
quite natural in where there was such a
divergence of views between an officer of the
government and his subordinate
Late yesterday afternoon, on being shovn
the dispatch from Washington announcing his
suspension, Mr.. Drew stated that some days
ago the controller wrote him desiring confer
ence on the situation in Philadelphia and sug-
costing the propriety of his not resuming his
regular work until such conference was had.
and that on Tuesday he received telegram
from the controller stating that he would fix
an early time for the conference. He presumes
that this Is the foundation for the reported sus-
pension Mr.. Drew added that he had pre-
ylously requested Of the department full in
vestigation into his official conduct feeling con-
fdent that it will result in his complete yindi-
cation.