New-York tribune., 1908-01-16
DENIED BY CORTELyOU.
NOT ABOUT TO RESIGN.
Presidency of Knickerbocker Trust
Company Offered to the Secretary.
From Trn- Tribune Bur,au.1


washington, Jan. 15-Emphatic denial Of .he
templates resigning from the Cabinet TO asso-
cizte himself with some large financial fnsti-
ruVion in New York was made to-day both at the
White House and the Treasury Department II
is learned. however. that Mr.. Cortelyou is re-
sarded by influential fnanciers in New York as
having shown rernarka ble skill in the recent
financial crisis. and that there are several i'm
portant interests which have indicated that they
viii quickly avail themselves of his services
whenever he gives the slightest indication of his
willingness TO leave the Cabinet It is proba-
be that IL was the efforts TO convince Mr.. Cor
telyou that he could wisely and proftably asso-
ciste himself with the Knickerbocker Trust
Company which gave rise to the rumor of his
resignation at this time It is known however.
that the President would sincerely regret to
lose his Secretary Of the Treasury, whom he
holds in high esteem. al this time. and it is be
lfeved that Mr.. Cortelyou will be guided by the
wishes Of his chief
Moreover. II is by no means likely that the
Secretary would care to resign al time when
he is. SO 10 speak, under fire. by the Demo-
Gratis in Congress The idea that the minority
viii be able to develop anything to the dis
credit Of the administration is not for moment
entertained by the Republican leaders That
rical violations Of Law is said 10 be possible IL
such are proved the Republicans will make no
effort becloud the issue or to disguise the
facts. On the contrary, they will admit frankIy
such legal points the minority may be aole
70 make and will rest their case on the conten-
non that in q time OF grave stress ana er1er-
eencx the Secretary OF the Treasury was war
ranted IN taking such action as became neces-
sarv to preserve the integrity Of the circulating
s5eeF aad
which must have resulted from general f1nan-
CiaI disaster They are content to rest their
case on this argument and leave the verdict to
The people. confident that there will be no seri-
Gus condemnation of Secretary Cortelyou or Of
the administration.
After Congress adjourns. however. it would
not surprise Mr.. Cortelyou's friends if he were
70 form some connection with one or other OF
-be great financial concerns in New York City.
He is believed by his friends TO have laid aside
his political ambitions. and they expect that In
5pe time he will avail himself Of one of the
handsome opportunities which await him in the
business world
Secretary Cortelvou would certainly not
dream Of leaving the Cabinet until the business
equilibrium Of the country had been completely
restored said one Of the Secretary's closest
friends today 1t would look too much like
deserting the ship in storm The relations Of
rhe President and the Secretary are most
cordial in spite Of all accounts TO the con-
trsrv and the President regards him as most
valuable and satisfactory head of the Treasury
Even were there friction between the President
and the Secretary. common sense would con-
vince any one that il would not be for the IN
r-rest Of either TO sever the relations now eX-
isring L would tend to demonstrate dissenslon
il the Presidents official family The Secretary,
leaving the Cabinet thus abruptly. would be
7Jr6=r 2 certain kind Of cloud and would not be
nearly as valuable to 4 financial corporation as
- would II he were leave the administration
;-nder more happy circumstances Therefore. IL
can he seen that il is to the interest OF ootn
that the Secretary remain where he Is. IN charge
Of the Treasury. The Secretary has had num-
her Of offers from large corporations that would
ike 70 have him head their boards Of directors.
but thus lar ne has not indicated his preference,
Tor has he given any one Of them even tenta-
i've promise