News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1916-08-16

Under date of July 20, the Rut-
land Herald published an artlcie
under the caption, 'Will Mr.. Will
liams Answer which contain
ed the following paragraph:
To bring disagreeable con-
troversy to a focus, will mr..
Frank C. Williams, state DanK
commissioner, inform the voters
whether he has ever had cause
to criticise Senator Pages bank
ing methods, (1) regarding the
evasion of state taxes, GU re-
garding misleading statements
in. his advertisements, CD re-
garding the guarantee by some
of the banks directors OF some
100000 of the banks funds, in
vested outside the state?
Under date of Thursday, Aug.
10TH, Mr.. Williams addressed
the following communication to
the editor of the Herald:
.For several weeks have noticed news
items and editorial statements In several
Vermont newspapers, charging that the
banking methods of the Lamoille county
Savings Bank and Trust company, or
which Senator Page is president. have been
illegal and misleading to the depositins
public and very strongly intlma'lng tnat
the bank commissioner had either oeen
negligent In the performance OF his duties,
or had overlooked the faults In the man.
agement of that particular bank. me
Morrisville Messenger. answering appar-
emily for Senator Page, stated that the
depositors of the bank had not been de-
ceived by the banks advertisements anu
that no improper or illegal practices by
the bank had been discovered by the pahk
commissioner On August I noticed an
editorial in the Brattleboro Reformer'
making more specific charges with rela-
ton to the practices OF the bank ana
charging that the bank commissioner has
been derelict in his duty, and the KAN
doIph Herald last week stated that IF the
hanks methods were improper It was the
duty of the bank commissioner to pro-
to expect him to give evidence against
himself" An editorial in the Rutland
Herald the last week In July reviews these
charges and others with relation to the
same matter, and asks the bank rom-
missioner whether he has ever had cause
to criticise Senator Pages methods nrst
regarding the evasion Of State taxes. Sec
ond. regarding misleading statements IN
his advertisements. third. regarding the
guarantee by some of the banks directors
of funds invested outside Vermont. The
Refor.ner states that have been repeat
edly asked to state the facts with rela-
ton to the methods of Senator Page.
and have not replied. l have hopeo
that Senator Page would frankly state
the facts with relation to all the
matters referred to. and as to the
position taken by the bank commissioner
which would certainly clear the banking
department of any suspicion OF negligence
or favoritism with relation to the prac-
tees referred to- and would also assure
the public that all such practices had been
stopped. and would thus avoid any possi-
BILE claim that the bank commissioner
was making any statement for political
purposes, but l am very Jealous OF the rep
utation of the banking department OF
Vermont, and am not willing that the peo-
pie of the State should get wrong i'm
precision as to the attitude of the bank
commissioner with relation to Illegal or
tmproper practices by officers OF any
banks over which he has jurisdiction. This
Is NV reason for answering the charges
which have been made. think 1t is fully
as important that the people of the state
should have confidence in the integrity
and independence of the bank commits
sioner as that any particular Individual
should be elected United States senator. 1
realize that the people of this State have
q right to know what the attitude OF the
bank commissioner has been towards any
improper or illegal practices of the banks,
but I wish to have 1t plainly understood
that during my term of office as bank
commissioner the money deposited In the
Lamoile County Savings Bank & Trust
company has been safe. and the bank has
been solvent, and Its condition at the
present time is better. and the bank is
stronger than at any time during the past
six years
CHARGES SUMMED UP.
.summinS up the charges which
have been made by the various news
papers during the past six weeks.
which I have seen, which reflect upon
the administration of the banking de-
partment of Vermonti
"First. II Is charged that Senator
Page transferred bank stock which he
owned to avoid taxation.
.second, IL Is charged that the he-
moiIte County Savings Bank and Trust
company, of which senator Page In
nresideut, issued misleading advertise
r,epts with relation to the manner In
x-h,cb the money of its depositors WINS
invested.
.rbfrd, It Is charged that some direc-
TORS of the bank Endorsed or guaranteed
ont of state loans by the ohnk IN an
amount very much larger 'h"n 'he Ia"