New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-16
MUNSEY DIRECTOR
EXPLAINS MYSTERY
Olivier Says He Wrote
Article Appearing as
Treasury Statement.
WAS INTENDED
FOR EDITORIAL
Witness Fails to Tell Senator'S
How II Was Published as
Official Document.


From The Tribune Bureau
Washington. Jan. lJ.-After another
day devoted TO the scrutiny OF the
activities Of John Skelton Williams m
connection with the Munsey Trust
Companv deal and other incidents OF
his Official career. the Senate Commit
tee on Banking and Currency failed to-
day TO reach q decision on his nomind =
ton TO be Controller Of the Currency.
w. Flather. president of the Wash
ington Clearing House Association. and
Milton J. Allies, OF the Riggs NatloAai
Bank. testified concerning the absUfp-
ton Of the United States Trust Com
pany by the Munsey Trust Company.
They we're much hampered. however
bv the fact that bankers with whom
the evidence originated were reluctant
10 appear before the committee, ana
that Democratic members Of the COM
mittee invoked at every turn the rules
of evidence to save Mr.. Williams from
possible embarrassment.
1t is expected that the hearings VIII
be concluded tomorrow. and if 1t is
made a partisan matter Williams VIII
be jammed through.
Several incidents occupied the atten =
ton Of the members of the committee
to-day. particularly the Republicans.
These were the origin Of the statement
published in the Munsey newspapers,
and purporting TO be an official state
ment Of the Treasury Department, the
day following the absorption OF the
United States Trust Company by the
Munsey Trust Company; the expulsion
of Miss Lottie Taylor from the Treas
urv Department on the ground that she
vas trying TO secure special informa =
ton for the National City Bank. and
the statement by Mr.. Allies that several
New York banks had been approached
bv Charles Starek. bank examiner. with
the suggestion that they dispose of
their Seaboard Air Line securities.
One Mystery Explained.
The mystery surrounding the state
ment made in Munsey's newspaper the
day after the consummation OF the
Mrnsey Trust deal, put forth as the
official statement OF the Treasury De-
partment 10 the effect that there was no
cause for apprehension over the de-
rosits in the United States Trust Com
pany or the financial situation in
Washington, was explained By the ad
mission Of Stuart Olivier, director OF
Mir. Munsey's Baltimore Trust Com
torial for The Baltimore News" He
was not able 10 explain how it hap
pened to appear in the Munsey news
raper in Washington as an official
statement from the Treasury Depart
ment. one member of the committee
expressed the opinion that the state
ment appeared To be. from internal
evidence. Treasury statement
Mr.. Munsey's representatives also ad-
mitted that they had made the sugges
ton TO the Treasury officials that Mr..
Munsey would advance S5OO,O0O to off
set the run against the United States
Trust Company, the deposits of which
had been guaranteed by him. II was
stated to-day that the day following
the suggestion the run had ceased and
there was no necessity for the deposit,
and that Mr.. Munsey, therefore, did
not feel called upon to make it.
The fact was also disclosed to-day
that the National City Bank had
offered 10 forward to Washington So
100000 in cash, or so much OF 1t as
might be necessary TO prevent finan-
cjal disturbance in Washington at the
time the run was made on the United
states Trust Company. IL was at this
time that Mr.. Munsey was heralded in
his own newspaper as having done a
"great, big. generous act' in saving the
deposits OF 5000 persons and coming
IN the aid OF Washington by allaying
apprehension.
Seaboard Air Line Incident.
The supposed enmity between John
-, g. xx-;ltiovo- apd Milton Allies nd