The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-25
CHARGES WILLIAMS
SOUGHT COAL STOCK
President Jones of Failed
Uniontown Bank Accuses
Comptroller.

WASHINGTON, July IA. r. Jones,
counsel for Independent stockholders
Of the old First National Bank Of Union
town, Pa, testifylng to-day before the
Senate Banking Committee, charged
John Shelton Williams. Comptroller of
the Currency. with unfair management
Of the banks affairs after its failure
and with having a personal interest In
the disposition OF 10000 shares of coal
mining stock given by J. V. Thompson.
the bank president, tc secure his indebt-
edness
Mr. Jones said the stock had been
turned over to the Comptroller under an
agreement by which an opportunity was
to be given Mr.. Thompson to redeem II
for $4,000. He also testified that Mr..
Williams had this stock assigned TO him
self and that the Comptrollers repre-
sentative went to meeting OF bank
stockholders ana controlled that meeting
for the purpose of bringing about the
sale OF the coal stock.
Under an agreement alleged TO have
been reached at a conference OF stock
holders and representatives OF the Comp
troller's Office In New York at the home
Of Samuel UnternIyer in January, 1918,
Mr.. Jones said, sale of the banks build
ing was to be postponed and proceedings
brought to enable an Interpretation of
the agreement relative to the stock OBJ
tanned in the courts. Instead, Mr.. Jones
alleged. foreclosure proceedings were in
stituted and al, estimony relative to the
Thompson agreement kept out OF the
record.
DO you intend to charge Mr. Will
Jams engaged in this conference for the
purpose of obtaining that stock?" asked
Senator Fletcher. Democrat. OF Florida.
s'It q fba nnlv copcluaion on1y rea epu
able man can oraw-that Mr.. Williams
wanted the stock. or was party TO
proceedings that would enable some of
his friends to get it," Mr., Jones re-
piled. - " b..
The charges are absolutely without
basis" said Mr.. Williams, who followed
Mr.. Jones before the committee 81 want
to denounce Mr.. Jones as contemplate
slaudcred in charging that I have any
personal motives in this matter. His
statements are full OF inconsistencies.
Mr.. Williams puts me in the same
class as other critics OF his administra-
tion," Mr. Jones said, after the Comptrol-
ler's statement.
Continuing his testimony Mr.. Jones
said national banks had been instructed
to turn in Thompson paper, which was
presented to the bank In a flood" He
also asserted that the Comptroller in
structed E. s. Hackney, an official OF
the bank, to withdraw $3.50, 900 depos-
tied to assist II.
This statement was contrad!cted later
by NJ. williams. who said the sum had
been loaned TO the bank at per cent.
interest and was a liability instead OF a
deposit. although the bank carried II as
deposit.
While withholding a general reply to
charges made by Mr.. Jones until an
other time, Mr.. Williams told the COM
mittee that he had summoned Mr.
Thompson to Washington a number Of
times to criucise certain methods OF his
bank, and asserted that his action in the
Thompson bank case only showed the
efficiency OF the Comptroller's office.
MI Williams renewed his denial Of
testimony given to the committee by
JohN Poole and Frank ]. Hogan. who
alleged the Comptroller had discrimi-
mated against the Federal National Bank
Of Washington. with which they are as
sociated.
The Comptroller also presented letters
addressed to Chairman Mclean by f.
W Boiling OF the Emergency Fleet Cor
portation, and President Kaufman OF the
Chatham Phoenix Bank OF New York
denying statements that deposits by a
bank with the Chatham Phoenix Bank
would bring about deposits from the
Fleet Corporation. These letters branded
the testimony as untrue.