New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-20
u. S. Company Only One
Not Responding to Call
for Statement.
REPORT PROMISED
WITHIN THIS WEEK
John Shelton Williams Confirmed
by Senate as Controller of
the Currency.


Washington. Jan 1o-Stockhosiers OF
he United States Trust Company recent
~. by the grace Of John SHELTON VIII
Jams and the generosity of Frank a.
Munsev. absorbed by the Munsey Trust
Company. Of Washington. Of which X
Lancaster Williams. brother OF John
Skelton Williams. is director. are con-
fronted with another mystery
The recent call OF the Acting controller
Of the Currency for statements or the
condition Of the national and certain
other banks Including the trust com
panles I'm the District of Columbia. at the
close Of business on January 10. has been
promptly complied with by all except the
United States Trust Company. now a
part. according 10 the signed statements
Of Frank A. Munsey. Of the MunseS
Trust Company.
The summarized statement OF the Mum
sey Trust Company shows that at tne
close Of business on october q 1870 the
company had deposits amounting 10
s. 1852. and at the close Of business on
January Is. 1874 81, COS 4o2, gain OF slou'''''
The first impression made on the stock
holders OF the United States Trust COM
pany. who are naturally anxious TO learn
what COMPENSATION Mr.. Munsey viii make
10 Them for their good will and s6nhW
deposits. was that this gain of slJO,17S was
ali OF the deposits OF the United states
Trust Company which had rerlalned WIN
the Munsey Trust Company, condtuon
which gravely alarmed them in view Oh
the fact that the compensation they are
10 be allowed has not yet been ueter-
mined. Further examination OF the pun
ushed statement. however. revealed the
explanation that the report of the uniteu
States Trust Company would be made TO
the Controller direct or through the Mum
sew Trust Company this week. It's pup
LEGATION will be awaited with the utmost
interest nv those who still hold stock IN
the United states Trust Company, when
still exists as a banking corporation al
though the name "Munsey Trust COM
panv" is prominently displayed over ITS
doors.
Curiosity Among Stockholders.
In the mean time. there is the utmost
curiosity as TO why the statement OF the
affairs Of the United States Trust Com
panv was not made in accordance with
the call. either direct or through the Nun
sew Trust Company, and as TO what part
Assistant Secretary Williams had In eX-
onpting this single trust company, or the
Munsey Trust Company from making
statement Of the affairs Of the late BANK
at the same time as was required Of other
banks and trust companies.
Secrets Of the executive session OF the
Senate Committee on Banking and Cur
rency which reported favorably to the
Senate the nomination OF John shelton
Williams for Controller Of the Currency
and member Of the Federal Reserve
Board are gradually becoming known.
II is learned that when Mr.. Williams was
alone before the committee there was adj
ministered TO him stern warning not TO
permit his personal likes and dislikes or
any disposition 10 mete out retriouuon
10 his enemies to influence his course in
his new Office, and that II was broadly
intimated that as result OF his course
as Assistant Secretary his conduct as Con-
troler would be subjected to continu-
Gus and careful scrutiny by the members
Of the committee.
In extenuation OF the Presidents course
IN nominating Mr. Williams II is beng
explained by friends Of the administration
that Secretary McAdoo called the auen-
ton Of President Wilson to the fact that
the language Of the law provides that
the Controller OF the Currency snail be
apuointed on the advice OF the Secretary
OF the Treasury. from which it is argued
that the President was hardly in posi-
ton 10 reject the urgent recommendation
Of Secretary McAdoo.
Strong objection was made to the con-
nrmation Of Mr.. Williams TO be Con-
troller OF the Currency by Senators Bris-
tow. OF Kansas. and Smith, of Michigan,
when the appointment was taken up for
consideration by the Senate to-day.
Williams Unfit, Says Bristow.
Senator Bristow read extracts from the
testimony given before the Banking and
Currency Committee in support OF his
contention that Mr.. Williams was unfit
10 occupy an office OF importance in the
organization OF the new reserve system
and in the administration OF the national
banking laws.
Ths Senator from Kansas said that Mr..
Williams had been connected with several
protects that came within the field of
high finance; that he had commended with
Thomas F. Ryan, succeeding in getting
the better OF him at one time, and sue
cumbinz TO his greater powers OF strategy
at another. II there was any fault 10 be
found with high finance in general, the
Senator minated. Mr.. williams was 10
be classed with his more successful OPP
ponents.
For the most part. however. the Sem
-. ,hoodor.d tho fght against the over