Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-31
NOT TO SEEK DATA
Ruling by President Instructs
Controller of Currency.
TO HELP PR0BERS, THOUGH
Information in His Possession to Be
Given Money Trust Investi-
eating Committee.

No investigation to obtain for tie House
money trust investigating committee facts
not now in the possession Of the con-
troller of the currency will be conducted
by that Treasury official. The President.
acting on the opinion of the Attorney
General. has declined to respond to the
request of the committee for information
not on hand. The committee has been
advised that the President does not deem
the method the proper procedure.
| While the President may afford the COM
mittee information in the possession OF
the controller, in the opinion Of the At
torney General, he is also at liberty to
withhold it, IL he deems 1t in the interest
| Of the government. No legal effect at
taches to the directions contained in the
House money trust resolution calling
upon Treasury officials to comply with
| all instructions of the committee for as
sistance in its labOrs.
1.-The duties of the controller are i'm
posed by law" says the opinion, ana
cannot be lessened OF increased by resolu-
ton of one house.
Not Known to Controller.
| Most Of the information sought by the
committee is not now in possession of the
controller and the Attorney General
holds that the controller has no right to
exercise his power in procuring data
merely for the purpose of furnishing it to
committee Of one house of Congress.
| IF the committee Attorney General
Understands opinion continues, IS
without adequate powers to enable 1T to
pursue the inquiry committed to it by
the House (as to which 1 express no
opinion), it should seek additional power
! by way of amendment to the law or by
joint resolution of both houses of Con-
gress. 1t cannot properly expect the con-
troller of the currency. by strained
construction of the statutes, to exercise
a power given to him for definite pur-
pose to procure information for another
purpose, thus furnishing indirectly to the
committee information which the law
does not authorize it to get directly.
| The Attorney General says that If the
President or Secretary of the Treasury
regard any Of the information sought py
the committee as essential to the con-
troller in the performance OF his duties,
| he may direct him to procure it and then,
LII it is deemed proper lay 1t before the
committee.
Kind Of Information Wanted.
| The information thus sought by the
| committee is as follows, according to the
letter from Attorney Untermyer:
THE character of the transactions in
which certain of the leading national
| banks of the country have been engaging,
such as the promotion and underwriting
of securities on behalf of syndicates; in
stances in which they have acted as what
are known as issuing houses for the sale
of securities to the public; transactions by
the banks made directly or indirectly
with their officers and directors. and with
corporations in which such officers and
directors were largely interested, and
purchases and sales Of bonds and shares
of stocks by the banks and speculations
conducted by them or by corporations
that are owned by them"
Acting on the Attorney Generals opin-
ion. Secretary MacVeagh OF the Treasury
Department yesterday indicated that he
would furnish the committee all the in
formation now in the possession of the
controller of the currency that is gen.
orally regarded as not being OF conf
Dental nature. In response to the COM
mittees request, he will thus supply list
Of the big stockholders of the banks with
capital of more than S.. 100000, as we'll az
Q list of national banks which have trust
company adjuncts.