The sun., 1919-03-02
WILLIAMS ATTACKS
M'FADDEN, BANKER
Comptroller Says Representa-
tive Had Been Warned to
Keep Within Law.
CHARGES SPITE WORK
Asserts That Speech in Con-
gress Was "a Shot From
Ambush"
CHARGES SPITE WORK
Special Despatch to tbs sux.

Special Despatch TO The SUF.
wAsHINoroN, March John Shelton
williams. Comptroller OF the Currency
made reply to-day IN charges brought
against him by Representative McFad-
den tPenhsvlvanie) In connection with
his denomination for another term Of
FIVE years.
The letter was made public in part
by Mr. Williams tonight, as a public
tative McFadden in the House February
Is. It declares that Mr.. McFadden as
a banker in Pennsylvania has been
nnder rebuke and criticism by the Treas
ury Department for twenty years. and
that only the constant interference OF
the Comptrollers office has preserved
the institution.
Mr.. Williams presents figures to show
that McFaddens bank has not pros
pered. that the surplus and undivided
profits have shrunk, and that dividends
have been cut down during a period Of
general banking prosperity.
Direct Attack on McFadden.
The Comptroller then quotes q letter
| by the Deputy Comptroller. in which the
| following language Is used:
THE bank continues to violate the
law: and this feature. together with
other unsatisfactory conditions,
| seemr largely due to lack Of proper
| MANAGEMENT. The examiner is Of
| the opinion that the bank will not
observe the law or regulations Of
| this ONCE as long as President Nc
Fadden Is the managing director.
| because the other directors seem to
take no personal and active interest
in the bank. and permit President
! McFadden to use the bank for his
| personal interest without due regard
| for safe and sound banking.
| This condition will not be per-
mitted longer to continue. All of the
directors and not alone the president
should give their attention to the
affairs Of the bank. which the law
and their oaths require and II Pres
ident McFadden is not inclined TO
observe the instructions OF this Of
fice and the law he should be re-
quired to resign and the board
should elect some one else as presi-
dent who will"
The Comptrollers letter to Mr.. Nc
Fadden continues:
After your receipt of this but
three days Of the present session
will remain. In eleven working
days Of the House you have failed
to present evidence in support Of
your injurious accusations or in
nuendoes against me or to press
your suggestion of investiga ton.
You know on February Is that my
reappointment to be Comptroller OF
the Currency had just been sent to
the Senate for action. You knew
from wide publication in the news
raIers that the Senate Banking and
Currency Committee was conducting
hearings on my fitness or unfitness
TO be Comptroller and hearing evil
dence on charges that might be
presented before II against me.
You have done nothing to vindi-
cate your own assertions and III
situations declared publicly TO be
untrue or TO prevent the Senate from
confirming the appo!ntee whose 1T
ness you said you had reason to
: doubt You are in the position of
having taken a shot at me from safe
ambush and skulking away too
hastily to know what injury you
had done or to allow the object OF
your aim opportunity for defence,
| redress or reply.
!, These facts, stated briefly as
possible. explain perfectly why Rep
resentative McFadden would like
to see the Comptrollers office
abolished. The whole record shows
that you acted in exact accord with
your career as banker when. as q
representative OF the people, you
used your privilege and awaited
yourself of your immunity TO cir.
culate ltbels for which you produc,
no author and which you did not
dare present when challenged. de-
Ned and invited where they could