New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-25
CITY BANK REPLIES
Denies Irregularities in Rela'
tons with u. S. Treasury.
PRACTICE is NOT NEW
Mr.. Vanderlip Says 1t Has Had
for Years Agency to Com
pile Statistics.

The National City Bank Yesterday Is
sued a reply to the announcement or the
Secretary Of the Treasury. Mr.. McAdoo
that he had prohibited the practice OF
allowing a representative OF that institu-
ton to occupy desk in the office OF the
Controller OF the Currency. The bnnk
denied that there had been any irresu-
larities in it's relations with the Treasury
Department. and asserted that the sta
tistics which il has been accustomed 10
have compiled there were only or such
"a character as were public property
For a number Of years says the city
Bank statement. the National city Bank
has had an agency in Washington for
the purpose of furnishing convenient
means to its correspondent banks 10
have the representative required by law
I'm connection with the destruction OF ma
tjonal bank notes and the handling OF
bonds to secure circulation and deposits.
II has also been practice. in which we
have had the fun cooperation OF the
Treasury Department. 10 have an en-
ploye Visit the Controllers Office 10 COM
pile such Information from the statistics
IN the Controllers reports AS IL Is GUS
tomary to give out 10 anybody VINO de-
sires to have II.
The national bank act provides that
every national bank shall make report
Of its condition upon the controllers
call: shall forward that 10 the Con-
irollers office within five days of the date
OF the call. and shall publish il in the
local newspaper. The object OF the
periodic call Of the Controller is TO dis
play the condition OF national banks TO
those who have business relations with
them.
The reports of the Controller Of the
Currency. as is we'll known. are public
property except in so far as they con-
Germ the private relations OF a bank with
Its customers. which are never divulged
As a matter of TACT. the statistics as TO
the condition OF banks are published in
the newspapers all over the country. and
become public property long before the
National city Bank obtains them in the
Controllers office
we have for many years kept card
index showing half dozen OF the prin-
cipal Items. such as surplus. deposits
loans and overdrafts. Of all national
banks Originally this was obtained in
more or less incomplete form by securing
the information directly from individual
banks The information is not compiled
by the Controller FOR thirty days or more
after 1t Is published by the individual
banks II Is manifestly an impossible
task 10 get six thousand or seven thou
sand banks TO send copies OF their state
ments promptly. We have found. there
fore. II was better plan 10 obtain the
information directly at ;he Controllers
office. where it Is all centred and where
IT has always been open for any one
making inquiry. The work OF compiling
this information Tor the use of the Ma
tlonal city Bank has to be done in the
Controllers office because the reports are
not permitted 10 he taken from the office
obviously. To make up the statistics il is
necessary 10 use a desk. but there is no
regular place assigned or any connection
had with the Treasury Department ex-
cept this.
The National city Bank does not feel
that there is anything in It's relations with
the Treasury Department TO require OK
PLANTATION. but it does feel that on all such
occasions the public should have the ex-
act facts"
WASHINGTON April -Iawrau,e a