Evening star., 1933-09-05
CHARGES COOPER I
WITHDREW FUNDS
Hamilton Attorney Claims He
Took Out $500 Before
Restriction.
CONTINUED From First Page.)

preventing any further liquidation anc
the consequent return Of money to de-
positors. The class B assets will be
held, he declared, in order to enable
the Hamilton to exchange any of the
class A assets 1t purchases II they do
not turn out as well rs expected.
Thomas, several times rebuked by the
judge for the general character of his
allegations. charged that the controller
Of currency deliberately attempted to
wreck the United States Savings Bank
in order to force 1t into the Hamilton
merger. which. he said. would be un-
able to be effected without the sound
securities and cash Of the United States
Savings. He also said that Col. Cooper
was informed by the controller that no
plan he proposed would be approved.
The court room was crowded when
the hearing opened. Edwin C.
Graham and the conservators Of
most of the banks involved in the mer-
ger were present. Roger j. Whiteford,
attorney for the Hamilton; Barse and
his assistant, Charles E. Wainwright,
presented the Hamilton's case.
Barse told the court that 1t Is pro-
posed to sell approximately $4,000, 900
Of the assets Of the eight banks to the
Hamilton. This, he said, will make pos
sible the opening of the Hamilton
within 10 Gays or two weeks and enable
each creditor and depositor to be paid
Immediately so per cent of his claim
The depositors and creditors, he de-
clared. will not lose their right to the
remaining so per cent due them.
Denounces Controller.
As soon as Barse closed his state
ThnnraC h nd
launched into q bitter denunciation OF
the controller and Of the Hamilton on
cials. He said that the refusal Of the
controller to allow the reopening Of the
United States Savings Bank after the
bank holiday in March was arbitrary.
in abuse Of his discretion and contrary
to the intent Of the law"
Those banks in the District which
were licensed to reopen after the holi-
day. Thomas said, were not re-exam-
ined. but their licenses were issued on
the basis Of their previous examination.
When this examination was made
Thomas claimed, the United States
Savings was found to be in better con-
dition and more solvent than any other
bank in the District.
When the attorney alleged that the
controller wanted the credit structure
VI tIlc OSlElCt CclllAiZeQ hS IuuCIl u
possible 50 as to be more readily con-
trolled by Wall Street interests. Justice
Bailey stopped him and instructed him
TO confine his argument to facts which
could be proved.
The court was asked by Thomas to
determine whether or not the United
States Savings Bank was solvent, but
Justice Bailey replied that he was bound
by the controllers determination of this
point.
Thomas and his associate. j. W
Staggers. announced this afternoon the
names Of witnesses they expect to cal
tomorrow They include j. T F
OConnor, controller Of currency; F. G
Await. deputy controller: Walter Cum
mings. executive assistant to the Sec
retary Of the Treasury: w. Irving Shu-
man. in charge of reorganization OF
closed banks in the District for the
Treasury Department; Col. Cooper. Will
bur H. Zepp. conservator Of the United
States Savings Bank, and William r
De Lashmutt, q vice president of the
United States Savings.