The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-21
Assurances Given to Banker
That He Will Not
Be Heckled.
BANKERS ACCEPTANCE
PLEASES THE PRESIDENT
Protests Received From All
Parts Of Country Against
Senator's Stand.

WAsHNGToN. July 2O.-Steps have
been taken which probably insure the
services Of Paul NJ. Warburg of Kuhn,
Board
Senator O'Gorman, a former member
OF the Senate Committee on Banking
and Currency met Mr.. Warburg to-day
at White Sulphur Springs and as n re-
suit it can be said that Mr. warburg
Banking and Currency.
Just what IL the arrangement for his
appearance could not be learned to-day.
but 1t Is known that Mr.. Warburg will
confer with the committee with a view
to reaching an understanding and Civ
ing it any reasonable information that
1t may desire.
Friends of Senator OGorman in
Washington received word to- night that
Mr.. O'Gorman was satisfied after mis-
talk with the New York banker that OBJ
stacles to his confirmation will be re-
eral Reserve Board will he secured
There is no doubt in Washington thar
with meeting between Mr.. Warburg
and the Senate committee arranged, tho
backbone of the opposition to his COM
frmation will have been broken. Ever
since the Senate held up the nomination
of the New York banker protests from
business men in all parts Of the country
have been pouring into Washington
The opposition to Mr.. Warburg with
few exceptions has resolved itself into
an issue over his refusal TO subject him
self to examination by the Senate COM
mittee, and with that issue eliminated
/ there will be no doubt OF his confirma-
/ ton.
Washington officials Pleased.
! Members OF the Administration who
heard tonight that Mr.. Warburg would
/ meet the committee We're elated over the
news. The loss OF the New York banker
from the Federal Reserve Board wss the
worst blow that has threatened the Ad-
/ mlrisJrat ton IN connection with tho estab-
lishment OF tNc new banking system. II
was realized thar the appo,n trnent OF Mr..
Warburs more than that OF any other
member Of the BOARD had created conf
dence in the new organization among
conservative bankers ard business men
the country over. Mr.. Warburg was the
one man to whom the banking interests
OF the country looked for wise guidance in
the matter OF foreign exchange ana other
problems involving intima," knowledge OF
Europoan financial conditions.
The uclicf IN Washington to- night was
that senator OGOrman had carried as
surances TO Mr., WarhurR that tho Senate
Committee on Banking ard Currency had
no nteIClon to heche him and that mis-
assurance had helped TO clear tho s!tus-
tion.
IDpieasantncss Removed.
The desire Of the committee to disrs,
the idea that Mr.. Warburg was 10 No
hecked was foreshad1wed by statement
made the other day by Senator Hitchcock,
acting chairman, This statement was
made after Representative oglesby OF New
York had approached Senator Hitchcock
or the subject OF Mr.. Warburgs confirTna-
ton without any authority from the New
York banker Mr. Oglcsby represented
that Mr.. Warburg had declined 20 appear
before the committee because he expected
10 be heckled. Mr. Hitchcock, in comment
! Ing on the incident, said
81 told Mr.. Oglesby that | simply
wanted 10 aPk Mr.. Warburg a few ques-
tons about hls business and his quallnca-
lions 10 m the office for which he had
been nominated As 10 other witnesses
, had been ra,led in his case it was evi-
dent that the committee did not mean to
try to humilate him"
Senator Hitchcock added that he was
certain that II Mr.. WarDurg had under
stood the real motive OF the committee
In inviting him to appear the whole UNI
pleasant business" might have beei
' aVerted.
, one Republican Vote for Jones.
/, les probable chat only one Repub-
: lean Senator will be counted for the con
! nrnat,on Of Thomas u. Jones when vote
, is taken in the Senate on the question OK
= confirming the nomination of Mr.. Jones
for the Federal Reserve Board Senator
sherman of Illinois is the Republican
lie wired here to-day asking that he be
. paired In favor OF the continuation
senator stephenson Is paired In opposition.
as Is senator Root
Democratic senators admitted 'o-naN
that as the senate stands now on tH's
- nomination the Presidents friend cannot
3 Inc confirmed. Some OF the Administration
- leaders have figured out SITUATION NM
a would give tho President victory .; IRE
: narrow margin ~ the NlCe-Il"sld'h' o.
Il Gliding vote. But this estimate dsSui'u
70 that Senator Stephenson and one or wv
t other Republicans would 'o'e I3r Tue e'"
hrmation'