Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-02-26
PITTSBURGH
BANKS REFUSE
DATA ASKED
In Call Issued by
Comptroller Of Cur
rency Williams
Seek to Determine Whether or
Not Money is Being Diverted
from Proper Functions to
Earn' Big Rates from Spec
ulatOrS at a Distance

Washington, Feb. 25.-The Pitts
burg Clearing House Association was
accused by Comptroller Williams of
the currency today of having forbid
den its member banks to furnish data
asked for in the national bank call
issued yesterday by the comptroller.
Several items not heretofore given
quested in the current call. the comp
trolier explained. These tins. he said,
included statement as to the amount
Of money which has been loaned on
bond and stock collateral in New York
City. a statement showing the aggre-
gate amount of salaries paid to the
executive Offices of banks and the
number of such officers, and the
amount Of salaries paid all other en-
ployes of the bank andthe number OF
such employees.
'"rhe obvious purpose of inclusion OF
the clauses, apparently found objec-
tionable in Pittsburg," Mr.. Williams
said, was to develop whether money
of depositors in national banks is being
diverted from its proper function OF
supplying legitimate business and en-
terprise to earn fancy rates from the
need or recklessness Of spectators al
a distance. and whether disproportion.
ate or improper amounts of the earn
ings of banks are being expended in
co 10 ~ fD rs tn1~ &C., g.,
understand why bankers who have
used such money discreetly and with
regard to the rights of their custom
ers and shareholders should object to
making this information public"
Comptroller Williams statement
was closely followed by introduction
in the House by Chairman McFad-
den of the banking committee Of a
resolution to declare the comptroller
to be without authority to require
national banks to publish the salar.
les paid their officials and employees
in their financial reports.
Pittsburgh Bankers Contention
Pittsburg. Feb. 25.---When Informed
tonight that Comptroller of the Cur.
rency Williams had accused the Pitts
burg Clearing House Association of
having forbidden member banks to
furnish data in connection with yester.
dey's bank call, John r. MacCune
president of the association, said to.
night that the information asked by
the comptroller was being given.
AT meeting of the association yes.
terday," said Mr.. MacCune, I'VE de.
cided, on advice of counsel, that we
were not required to publish in the
newspapers the salaries OF bank Off.
Gals as requested by the comptroller
This information is given TO the comp.
troller but is not incorporated in bank
statements for publication. We be-
lieve we arc right in our position"
1t was pointed out by national bank
executives here tonight that the salary
Of every official and employee of every
national bank is regularly reported to
the comptroller by national bank ex.
aminers and has always been looked
upon in the same light as other conf
dontial information requested by the
comptroller.
Published statements of the condi-
tion of national banks in Pittsburg
under the cal Of the comptroller sent
out yesterday. do not contain the sal
aries of bank officials.