The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-02-16

mond Va. or Baltimore. Md, or both
and what connection any or all Of these
have had In the past year with purchases
or sales Of stocks In International Mer-
chant Marine and Russian bonds or other
securities. II any fiduciary or other re-
lationship exists, or has existed, between
such banks and the Richmond Federal
Reserve Bank or It's branch at Balti-
more.
Further Points OF Inquiry.
said committee shall also inquire
into the official conduct OF said John
Shelton Williams in his official capacity
as Director OF Finances and Purchases
of the United States Railroad Admins
tration.
Said committee shall Inquire into the
acquisition OF sites for naval operations
Of any kind and report TO the House
whether In their opinion the sold John
Shelton Williams while In said office OF
Comptroller OF the Currency. or I'm an
Official capacity directly, Indirectly or
ex-offlcio In connection with any other
governmental office, commission board
or agency has been guilty OF acts which
were designed or calculated to overthrow.
subvert or corrupt the Government Of
the United States or any department or
John Shelton Williams has been guilty
OF any act. or has consplred with 9TH
ers to do acts which in contemplation OF
the Constitution are high crimes or mis-
demeanors requiring the interposition Of
the constitutional powers OF this House ;
and for such purposes said committee
shall have power to send for persons and
papers and administer oaths, and ehall
have the right to report at any time"
Discussing his resolution and bill in
the House. Mr.. McFadden quoted n let
ter to Richard L. Austin, agent of the
Federal Reserve Bank at PHILADELPHIA.
from John S. Fisher. Pennsylvania Com
missioner OF Banking. This letter said
that one Of the trust companies of the
State. for years the depository for one Of
the big railroad systems. was notified by
Mr.. Williams that unless the company
was converted into a national bank the
railroad deposits would be withdrawn
and given to some national bank
Representative Garner tTex.) asked
II II was not possible that some influ-
ence was being brought TO bear on Mr..
Williams by the Federal reserve banks
to force bankers into the system.
withdrawal OF Funds.
Mr.. McFadden said he did not know,
but that tens of millions of dollars had
been withdrawn from one trust company
and transferred to other banks without
any advance notice. Mr.. McFadden con-
tinued:
There have also been called to my
attention cases where railroads have ap-
pealed to the finance division of the
Railroad Administration for financial
aid as provided for by recent legislation
enacted by Congress. in which the re-
volving fund OF $500, 000,o 900 was Gre
ated, and that John Shelton Williams, as
director of finance, refused to grant adj
vances to railroads unless the trustee
ship under the mortgage was changed
from the regular trustee of long stand
ceptable to him."
Williams Welcomes Inquiry.
At Mr. williams's office tonight the
following statement wa given out:
II am Just informed OF the sugges-
ton. presented In the House to-day by
Representative McFadden. for a special
investigation OF my official conduct
Il will welcome such an Investigation
most heartily and will do all in my
cover 10 hasten the appointment OF the
committee Mr.. McFadden suggests and
the ircuiS ', proposes.
"Cft vMJors of which he spoke are
new "a ia Since they have been put
beta tr~ Lublic by me the sooner and
nov thoroughly they are probed to the
osto-n and traced to their respective
, Origins the better I shall be pleased.
t S -ntirely possible that Mr.. McFad-
Cen. for rea' ons known to himself. will
not DE 30 we'll pleased with the results
| as ! will be, but I challenge him dis
| tinctly to proceed"