The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1912-12-30
Attorney Genera. Says President Has
the Power II He So Desires to
Give Out Anything
Asked For.
CoMPTROLLER KNOWS
Has Lawful Power to Tell PuIo Com
mlttee Character of Transac-
tIons Engaged In by
Banks.

UNITED Press Leased Wire Service |
WASHINGTON, Dec. 30.--President
Tafs has power, If he desires, to give
the house money trust committee all
data now in possession Of the comp
troller Of the currency as to national
banks. and he also has authority, IN
his discretion, to direc. that official
to collect certain information.
This was the substance Of Attor-
ney General Wickersham's opinion
sent to President Taft on November
9. and today made public by the at
torney general, in order, he said, to
clear up confused and erroneous
statements" circulated during the last
| few days.
The opinion, which formed the
basis for letter written by the presi,
dent to Attorney Samuel Untermyer,
counsel for the Puio investigating
| committee, reserved any expression
as to the propriety Of giving this in
\ formation to the investigators. On
Dec. II, President Taft, acting on
/ this opinion, wrote Untermyer, Wick
ersi1am stated, that he did not think
1 Ii proper to instruct the comptroller
of the currency to make an investiga-
tion to secure for the committee,
facts not in the possession OF the
1 comptroller. bearing upon the inquiry
I, of the committee"
y Wickershasn's brfsf detailed that
4 Untermyer's request was for data
5 showing character Of transactions in
1 which certain OF the leading nationa
banks Of the country have been en-
gaging such as the promotion and un
derwriting of securities on behalf O
r syndicates instances in which the!
( have acted as what are known al
issuing houses, for sale of securities
$ to the public; transactions by thu
s banks made directly or indirecti.
j, with their officers and directors an'
with corporations in which such off
a GERS ard directors were largely inter
: ested; purchases and sales of bond
l. and shares of stock by the banks
!. and speculations conducted by ther
t. or by corporations that are owned b
/, them
i. Wickersham's opinion declares tha
I: It would appear that but little OF thi
i information is now in the comptrol
G. er's hands. AS to whether that of
If cial may disclose such informa lion a
E, lie has the attorney general states:
.-Nowhere in the law is there an
r. express provision that the informs
8 tf67i occurred by the comptroller sha
he confidential, while, If in your opil
ID ion. the interests Of the governme1
renuire that this information shall
n. so treated, you have the right to T
n. fuse to divulge 1t. Yet, I am clear
IL of the view that il in your opinio
e. It is proper to give this informatic
es to the house committee, you have II
n lawful power to do So
AS to whether the presiden. hi
ok power to order the comptroller to CT
". lect information desired by the COZ
O; mittee. the decision says:
r. aIf YOU believe that any inform
rd ton outlined by Mr.. Untermy
snnr Ee obtained and considered
ay the comptroller in the performance
as his duties in my opinion you may
ed rect him to procure it, and after
es has been obtained for this legi.inla
re- nurnose YOU may, II you deem prop'
sir direct him to furnish It to the hou
ed committee. If, however, you nor t
,pt comntroller believe that such inf
nd nation is useful or necessary to h
- IN the performance Of his duties, y
could not properly direct him 10 p
citrp Il