The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1891-07-07

SIR-in answer TO your letter of the 2eth In
stant for explanation Of the omission in my
preliminary report Of June "a, 1891. on the Key
stone National bank of this city, Of liabilities
Of ssh, LAG, clearing house loan certificates,
and of the further fact that no reference was
made to the same in my letter transmitting
the report have to state that, on a compari-
son made by me on the 25th instant of my re-
tanned papers with the report referred to, as
recently forwarded by you, with the corre-
spondence, to the mayor Of the city, was con-
founded at the omission, and can account for
1t only that, purposoly nat including 1t In the
report, intended to include and explain 1t in
my letter, which, 1t appears, failed to do,
although the memoranda for my letter con-
tanned reference to tho subject In my later
reports II was not omitted.
To bo complete in statement of the accounts,
the report of January "a should have included
the amount OF the certificates as an additional
liability, and corresponding aMount should
have appeared on tho debit side, either in
stocks, etc, on hand" or In deficit 40
count" or in both.
Clearly an Accident.
The omission was clearly an accident. but
no less calculated greatly to mislead.
In regard to the bills discounted belonging
to the bank and held for security for loan GER
tihoates, amounting to $3.50 s.03 G00. 600 sddi-
tional security were notes of Mr.. McFadden,
$4,000, and Mr.. Haines S50,000 not belonging
port In account of bills discounted which
agrees with that account as shown on the
general sheet of the bank, less S225 900 placed
in the report In the banking house account
As stated In my letter Of transmittal the re-
port was informal and incomplete In many
respects,
Owing to the fact that many of the accounts
were then, and for some time afterwards, un-
dergolng verification, but, Notwithstanding
these embarrassments, tho omission referred
to should not have occurred, and would not
have occurred except by accident as stated.
need not add how greatly regret the inad-
vertence. Very respectfully,
w. 7. Drew, national bank examiner.
T. 81 prepared letter to you on the SUBJ
ject on the goth, but did not mail 1t, as l then
expected to sec you personally in Washing
ton, when could explain more In full.
Requested to Resign.
WASHINGTON, July 2, 1891.
Mr. w. P. Drew, national bank examiner,
Philadelphia, Pa;
SIR-I am today in receipt of your letter of
the Both ultimo, in which you state that your
failure to include among the liabilities of the
Keystone National bank in your preliminary
report of january "A. 1901 the sum Of Ssh sjl 49,
for which amount It was then indebted, on ac-
count of clearing house certificates, was due
to an accident, as you intended to haye-in-
formed mo fully in regard to this liability,
either In the report or letter of transmittal.
i have placed your communication, together
with all other facts bearing on the transaction
before the secretary of the treasury and the
same have had very full and careful consider
alton.
AS result the conclusion was reached that
80 important an omission, after fifteen days
investigation of the bank, is not consistent
with the confidence which must necessarily
be reposed by the department in the reports Of
those appointed to make examination of ma
tional banks.
By direction of the secretary have therefore
TO request that you forward to this office your
resignation as an examiner of national banks
Icannot close this communication without
assuring you of my sincere regret that any
thing should have occurred which would rem
der necessary the severing Of your official con-
nection with this bureau. Very respectfully,
8. LACEY, comptroller.
At the close of business no reply to
the last letter requesting Mr.. Drew's
resignation had been received by Comp
troller Lacey.