The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1915-02-24
Recent Letter From Comp
troller of the Currency
Furnished the Feature
SAYS STATEMENTS
ARE UNFOUNDED
Committee is Instructed to-
Continue Energetically,
While a Second Commit
tee is to Be Named to Go
Thoroughly Into the
Matter at Early Date.

i
/ Depositors of the defunct First Nat
/ iona1 bank gathered in the city hall
last night and heard a report from the
special committee appointed at meet
ing several weeks ago and instructed
to take UP with John Shelton Williams.
comptroller of the currency, the matter
| of the sale of certain assets of the
bank and also to bring charges against
the receiver, Hon. w. II. Milton. This
report was made verbally by DR.. Clar-
ence Hutchinson who also presented
correspondence between the committee,
the comptroller and t. M. Stephen, an
/ attorney of Mobile, employed by the
| committee.
The feature of the meeting was
when DR.. Hutchinson read a letter
from the acting comptroller of the cur
rency under date of Feb. 20, in which
| the committees statements were char
actered as incorrect and unfounded."
This letter was in response to one
written week ago by DR.. Hutchinson
asking what disposition had been made
by the comptrollers office OF the
charges against Mr.. Milton
The meeting, after hearing all of the
correspondence and reports, resolved
to continue pushing the matter, in
structing the committee, which was
also thanked for its efforts, to continue
with its plans of making public several
matters which were discussed, and also
authorized the appointment Of another
committee, to be named later by the
chairman. DR.. Renshaw. to go into Tie
matter thoroughly and beach definite
conclusion.
In order tesdefray the expense ~
publishing the articles being prepared
by the committee Donations were cailej
for and s17.i0 raised.
MEETING IS CONVENED.
Dr. Renshaw called the meeting e.
order at 80 o'clock and announced its
purpose, after which DR.. Hutchinson
presented a verbal report OF what had
been done He went into details IA
explaining the correspondence between
the committee and colnptrollers office.
He referred to the committees "trip 10
Washington and conference with the
comptroller, after which the latter
stated the matter of the charges
against the receiver, that OF selling
some railroad steel, a locomotive and
some cars to Ewing Reese, would be
given due consideration. The commit
tee, said DR.. Hutchinson, had left With
the comptroller. all of the data il had
gathered in this matter
Later he said, on invitation of the re-
ceiver, the committee held series OF
conferences with the receiver at
which a re-yaluation of the assets of
the defunct bank, was made, and here,
DR.. Hutchinson said, was an important
49, Il
material sold, at $4,000. He said, how
ever, that the committees work was Of
no value, owing to the fact that no
comparison could be made with the
former valuation of assets.
He said the committee made re-
quest of the receiver for a list of all
depositors of the bank, but was re-
fused on the ground that the receiver
did not know the extent of the com
mittee's authority and what per CEN
tage of depositors it represented.
ACT AS ADVISERS.
Dr. Hutchinson said that the COM
mittee had been requested by Mr..
Murray sent here to look UP the mat
ter, to act in an advisory capacity in
liquidating the assets of the bank, but
all members had declined.
He read correspondence between the
committee, receiver. comptroller, and
Mr. Stephens, the Mobile lawyer and
explained each letter, and then brought
up circular letter which had been
sent depositora IN @hich the matter Of
selling the railroad, property was dealt
with. About. one hundred replies
were received In response. he said.
A letter from T. NJ. Stephens, the
Mobile attorney, was read, in which
ne told the committee to gather all in
formation possible about the receiver,
including that relating to the investi-
cation of the Exchange Bank of Jack
sonville, and forward to the comptrol-
Ter.
Dr. Hutchinson said in explanation
of the Exchange bank matter that the
latter. he understood from state bank
examiner. had been under investiga-
ton and said that some damaging evil
dence against the officials, of which
Mr.. Milton was one, had been brought
out
SENT TO FLETCHER.
DR.. Hutchinson said that All the in
formation possible had been gathered
by the committee and forwarded to
Senator Fletcher, who had presented.
them to the comptroller. The speaker
decIained later to make a detailed re-
port Of this matter, saying he did not
have the papers at hand and was not
sufficiently ported on the case TO make
a verbal report.
Several letters from the comptroller
fContinued on Page Three.)