New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-07
Promised $500,000 Not Yet
Placed in His Trust
Company.
WILLIAMS Tending
OFF INVESTIGATION
Indications Increase, However,
That Congress Will Inquire
Into the Case.
rFrom The Tribune Bureau

Washington, Dec. 6.-Frank A. Nun
sey came to this city to-day and had
an interview with John Shelton Will
inns. the Assistant Secretary of the
Treasury. MIR. Munsey was accompa-
MED by r. Lancaster Williams, brother
Of John Shelton and a director of the
Munsey Trust Company, and by f.. l..
Norton, also a director of the Munsey
Trust Company of Washington and
president of the Munsey Trust Com
pany Of Baltimore.
Assistant Secretary Williams eX-
planned later that the interview was
casual and without significance, Mr..
Munsey having merely dropped in on
his way TO his trust company.
There were increased indications to-
day that the Treasury Department WIS
doing everything in its power to fend
off an investigation by Congress There
is. however, additional reason to be-
live that one or more resolutions de-
manding such an investigation will he
urged in Congress at an early date.
At the close of business to-day the
Treasury Department was still without
the formal application from the ra-
tional banks of this city for the $1,000
OO0 which Assistant Secretary Williams
deposited with the Munsey Trust Com
pany. and which it is customary to 1e-
mand as a guarantee, and further eX-
animation by the bankers of the Sc
curitics of the United States Trust
Company, which Assistant Secretary
Williams accepted as primary Sc
curity for the 81 100000 deposit. IN
creases their surprise at the course of
the Treasury Department and occasions
some anxiety on their part.
At the close of business the national
bankers had not been informed that
Munscy had made good the promise VI
his associate. Olivier. that he (Munsey
would deposit 100000 cash with his
trust company. 1t is hoped, however.
that after informing himself regarding
ehe sentiments of the bankers Munsey
will see fit to make this deposit and
thus 10 release at least half OF the de-
posit advanced to the trust company by
the government.
AS tending to allay the anxiety OF
the bankers. IL is asserted that, on be-
half of Munsey, Samuel NJ. Ham, Of
Baltimore, a former bank examiner,
who was thoroughly familiar with the
affairs OF the United States Trust Com
pany, came to Washington and exam
ined the assets Of that company before
Munsey decided to have his trust COM
pany take over the obligations Of that
concern. And it is also pointed out
that the national bankers themselves
undertook to guarantee the depositors
Of the United States Trust Company
against loss if it's assets were turned
over 10 them for liquidation.
Assistant Secretary Williams resents
any reference 10 the fact that Munsey
failed TO make good the promise OF
Olivier that he, Munsey would deposit
$500. 600 in his own trust company In
fact. Mr. Williams has gone so far in
al least one instance, as TO inform an
officer of national bank that he owed
an apology to Munsey for having said
that Munsey had repudiated the agree
ment.
A significant light on the official
Treasury statement quoted in The
Tribune Of yesterday-that "the Mum
sey Trust Company was the best quail
fed bank in Washington to handle the
situation" and this company had the
Continued on fourth page, fourth column.