Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-31
Local Bank President Com
planned to the Treasury.
M R. KEEP EXPLAINS
EXoNERATED employees FROM
GIVING INFORMATION.
Circulars Had Been Sent Out at the
Request of the National City
Bank of New York.

Frederick c. Stevens, president of the
Commercial National Bank of this city. has
made public some correspondence with the
Treasury Department relative to the re-
funding operations that are now I'm prog
ress, and conveys the intimation that the
National City Bank of New York has too
long received unusual favors at the hands
of the treasury
In interview Mr.. Stevens states that
his bank owned some Of the per cent
bonds now being refunded and many of
his depositors owned bonds of that class
and per cents. also being refunded. He
declares that shortly after he had received
official notice of the refunding from the
treasury his mail brought him a circular
from the National City Bank advising that
refunding should be done and pointing out
the availability of the National City Bank
in doing this work. The same circular was
received by depostors of the Commercial
National Bank who owned bonds of these
classes
II was greatly annoyed at receiving the
circular" President Stevens said "as the
United States government is supposed to
hold sacred the names of the owners of
registered bonds of every class"
October II Mr.. Stevens wrote as follows
to Secretary Shaw:
My Dear Sir: VIII you kindly furnish
the Commercial National Bank of this city
with list of the holders of United States
per cent consols of 1907, act of July IA.
1870. and January -. 1871. and the 3 per
cent bonds of 1905 act of June IL, 1898?
Most respectfully yours,
IF {. STEVENS, President"
The answer he received the next day was
as follows:
I'm reply to your letter of the 11th inst,
you are informed that the government does
rn ha II he hnt nf
United States bonds and cannot therefore
comply with your request for list of such
holders. Respectfully yours,
&C. H. KEEP, Assistant Secretary"
Leak Intimated.
President Stevens Immediately wrote ia
the treasury:
up to few days ago I had supposed
that the names of the holders of United
States bonds were not divulged to any one
and undoubtedly your statement that the
government does not disclose the names is
true: and If true. it is evident that In the
employ of the government there are those
who, not acting officially. do in their pri-
vate capacity furnish Information such
| have asked for.
"It would seem from the foregoing that
the Agricultural Department is not the
only department in which the employees are
furnishing valuable information, possibly
for their own pecuniary benefit.
MI. Keep Explains.
Mr.. Stevens received the following ex-
PLANTATION October IA from Assistant Secre-
tary Keep:
"In reply l have TO say that after the
announcement relative to refunding was
| made some of the banks and dealers in Sc
curities requested the privilege of having
their circulars forwarded to holders of
that stamped envelopes containing the cir
culars should be sent on, to be addressed
here and mailed. The department acceded
to this proposition as to all the applicants,
with the understanding that the expenses
should be betrayed by the writers of the
circulars"
Mr.. Stevens Not Satisfied.
Mr.. Stevens was far from satisfied and
decided to pursue the inquiry further. ana
October 20 wrote to Assistant Secretary
Keep:
'Win you kindly inform me what banks
and dealers in securities, other than the
National City Bank made the above re-
quest and also If any of them, except the
National City Bank, were granted the
privilege of sending stamped envelopes and
your department having them sent to the
holders of registered bonds?
Technically you may be correct in stat
ing that in complying with the request or
has not divuged to the said bank the
names of the holders of registered bonds,
but as a matter of fact IL has, for the
son that every holder of bonds who re-
sponded to the communication mailed by
your department for the National CITY
Bank has given up his holder OF
registered bonds TO said bank"
Mr.. Stevens in reply received the follow
ing from Assistant Secretary Keep, dated
October 30:
1.-The representatives in Washington OF
Nessrs. Harvey Fisk & Sons, Fisk & Rob-
inson and Mckay 81 Co. We're notified or
the privilege granted the National City
Bank and were offered the same privilege.
They did not, however, any of them, see
L.. ,s..lr.o q 1.efa