The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-17
Committee Favorable to
His Nomination as
Comptroller.
HE PROVES CLEAN
BILL OF HEALTH
Reed Refers to Inquiry Into Con.
duct in Connection With Mum
sey Concern-Charlotte, N. c.,
Makes Claim for Bank.
End of Hearings for
Eastern Cities.

Washington. January 16.-The nom
ination of John SHELTON Williams to he
Comptroller OF the Currency was or
dered favorably reported to the Senate
to-day by the Committee on Banking
and Currency.
The Office carries with IL n place on the
newly y-created Federal Reserve Board
and on the organization committee. of
which the Secretary or the Treasury
and the Secretary of Agriculture are
the other members.
Senator Reed Will report the COM
mittee's decision to the Senate to-mor-
row.
''lf a man ever proved n clean bill of
health, Mr.. Williams did So" said Sen
ator Reed tonight after the committee
concluded an inquiry into Mr.. Will
liams's conduct as%Assistant Secretary
of the Treasury in connection with a
recent financial furry in Washington.
The last witness before the COM
mittee. Frank a. Munscy. head of the
Munscy Trust Company. of Washing
ton. told the committee Of the deal by
which the Munsey Trust Company re-
Gently took over the business of the
United States Trust Company. whom the
latter was on the verge of failure.
Mr.. Williams. as Assistant Secretary
Of the Treasury. deposited government
funds with the Munsey Company at the
time.
Trip to West Begins To-day.
Hearings of the rival claims of East
ern cities desiring to nc chosen by the
Federal Reserve Organization Board as
locations for regional banks were con-
cludcd here to-day. The organization
committee, Secretary McAdoo and Sec
retary Houston. will leave tomorrow
for the West to conduct hearings.
They will he joined later by John
Shelton Williams, whose nomination
as Comptroller of the Currency goes
to the Senate tomorrow with the ap-
proval OF the Banking and Currency
Committee.
The comptroller Is eX-officio the
. third member of the organization COM
mittee.
Representatives of Pittsburgh to-day
urged that ii was located in the centre
of a great industrial territory. Repre-
sentative Burke declared 1t would be
like compelling n man to swim up
stream to locate the headquarters of
the district In which Pittsburgh Is to
be located at either Cleveland or Gin
cinnati 1t was suggested that New
York. rather than Philadelphia, was
Pittsburgh's second choice FOR the
head OF the district
Reasons why Charlotte. y. c.. should
be chosen rs the seat for the reserve
bank in the South Atlantic States
were advanced BY delegation from
would consist of Virginia North Caro-
lima, South Carolina, Georgia. Florida,
Eastern Tennessee and Southern West
virginia. The delegation urged that
Charlotte's central location made it
admirably suited for reserve bank.
Charles A. Bland, Mayor of the CITY:
W. C. Wilkins and II. NJ. Victor were
the speakers.
Philadelphia TN Race.
delegation from Philadelphia,
which urged selection OF that city for
one OF the reserve banks, was strong
ly opposed to the establishment of a
great institution in New York. Lev.
l.. Rue. chairman OF the PHILADELPHIA
Clearing House, agreed with Secretary
McAdoos suggestion that foreigners
would not look to the strength Of the
New York bank so much ms the healthy
condition of the entire system.
Mr.. Rue replied to the argument Of
the Richmond delegation that n dis
trict should be carved out OF the states
south of the Potomac because direc-
tors OF reserve bank from Northern
states would not understand the grant
ing or credits on cotton, tobacco and
peanuts He declared that the branch
banks would take care Of the granting.
or credits. and that the headuuarters
should be located where its manage
ment would come in the closest touch
with commerce.