Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-01-29

lafy OF the treasury or his subordinate OF
ficers and officials of the National City
Bank of New York city and if So what
agI sen7ent and understanding was arrived
al by means of these teiephonic. telegraphic
or other communication
To this the Secretary replies:
1t should be a sufficient answer TO all
that is requested on the subject of this con-
terence between Mr.. Stilman Mr.. Morgan
ana myself at Philadelphia to say that such
conference never took place. MIR. Still
man and Mr.. Morgan. for what reason
know not did Tot come to Philadelphia 10
see me. but on December 23 1897. Mr. Still
man placed the matter about which he and
Mr. Morgan wished to talk with me before
me IN a letter, which appears on page -
OF the document wherein is printed my
communication to the President pro tenn
pore OF the Senate of January 10, 1900
MIR. Sti1lman's letter is a request to allow
as much as possible of the Pacific debt
money to remain in the New York banks
SO as 70 secure AN easy money market
YIN Uniform rate of interest" which, Mr.
oililman says, will avoid a panic and aid in
the reorganization plans of various railway
companies then in progress
NO Conversation But ax Fully Set
Forth.
o. And whether or not the Secretary Of
the Treasury any of his subordinates
had any correspondence, Geographic or
tefephonic or otherwise, or any agreements.
documents, papers or conversation with the
oHiclais of the National City Bank of New
a aI between the period embraced from
- M % 1893, to June 3 1898; September
r. IS9S, to October %. 1898; August % to
december 10, 1899: and, il so, let him ac-
company his response to this resolution
with copies thereof
THE Senate has already bean fur,,sho7
as stated In my communicable of Januarv
~; ENo with al! correspondence letters
telegrams. agreements. documents and ma
pers IN me possession of the Treasury De-
rafarpnNo 20
Nationai City Bank of New York from
warren 4. 1897. to January 1. 1900 the date
OF the previous Senate resolution on this
suu5ect. for that reason there have al
IeadS peen furnished to the Senate copies
OF aii correspondence of every kind and de-
SSrlptlon from April D. 1898, to June 2,
1870, september 10, 1898. to October %, 1898;
AUGUST ~, 1899, to December 49, 1899
Inc department is without the means of
preserving conversations, and for that rea-
SOL is not able to comply with the Sena;e's
request for copies of conyersations r. eny
were had.
1T has not been the practice of the Seq,
retarles of The Treasury to preserve con-
,ersations. 1t may be said, in general,
L ,.oMeVer. that in the transaction of the
business of this department with the Ma
uonai City Bank or with any other bank.
nc conversation has been had, either by
telephcne or face to face which has had
reference TO any relations. official or pri-
Vate, otherwise than as fully set forth in
my communication to the Senate dated
January 10, 1900. No agreement, past pres
ent or IN contemplation has ever been had
Win ,, the National City Bank otherwise
man is literally set forth in my communi-
cation to the president pro tempore of the
Senate of January 10, 1900
No Bonds Held for Standard Oil.
The final section of the Senate INQUIRY
reads:
And the Secretary of the Treasury is
further directed TO inform the Senate of
the amount of United States bonds held in
trust by the Treasury Department for the
Standard Oil Company of the city of New
lcrk to secure government deposits for the
National City Bark of New York CITY and
Upon what 1ates these bonds were assign
ei anu the amount thereof now or at any
Iime held by .he government of the United
States for the Standard Oil Company"
IhlS inquiry, the Seer etary saws is ha sed
on misconception, induced. no doubt. by
requests IRON the National CITY Bank to
trsnsfsr certain lots of bonds to the STAN
card Oh Company and to other parties
secretary Gage explains that when regis
tered bonds are deposited as security in
the treasury they are Cancelled and fresh
ponds Issued to the credit of the treasurer
IN his name Gin trust" When such bonds
are surrendered by the treasurer they NAV
be reisSued to the deposting bank or on
the banks formal request. they may be
Teissued TO any other party or institution.
In conclusion he says:
THE records show that the trea s,1rer has
assigned and delivered upon the orders of
the National City Bank to fourteen differ
ent parties, total Of s7,s54, 900. and of
these $1,914,T6 was transferred to the
Standard Oil Company. The Treasury De-
partment has ut no time held any bonds
In trust for the Standard Oil Company, nor
for any interest other than for the deposit
ing bank"