Show OTHER BANKERS DO SAME THING John R Walsh Not the Only Man Who Grabbed Gabbed Funds Under His Control Co LAW VIOLATED EVERY DAY COMPTROLLER LOOKS LOO S ON BUT j DOES NOT INTERFERE I Chicago JIn Jin 4 That certain sec See sections Sections of or the tie national banking laws are ared dead d ad letters so tar as banking practice is concerned and that these violations I meet Inset with only formal criticism from the comptroller r of Qt the currency was the testimony today of George M rr Coffin of New York former deputy comptroller l ler ef or the currency In the trial of John JohnR R 11 Wal Walsh h on charges of 01 misapplying the I funds fun s of 01 the defunct Chicago National I bank Coffin was asked by Attorney John S 5 Miller for tor the defense dete self if It was wasa a prevailing practice of or national banks to make accommodation and memorandum memorandum dum notes note and loans in excess of the I limit holl provided by the banking laws Not Relevant but Allowed Before Defore the witness could answer an objection by the attorneys for the gov government government government brought out a long argument during luring which Judge Anderson declared that the tho testimony was neither mate material material materIal rial competent nor relevant so far as intent In similar transactions was concerned buthe allowed it to be 4 Kiven Iven in order that the tho defense might lay a foundation for an attempt to pr ve that such practices are general all over ocr the country The question was then repeated and Mr Coffin answered in the affirmative Then the examination broadened Were Wore such cases c ses as this on In which Mr lr Walsh is IB involved frequently re reported reported reported ported to the comptroller by the bank examiners Yes Tos sir No Special Criticism Were they criticised by the comp comptroller No there was no special criticism What took place in the comptrollers I office The reports were gone over and printed letters calling the attention I of the banks to the statutes were vere sent to the banks Did the practice of making excessive excessive sive alve loans prevail Yes Yos There were always about one third of the banks making such loans 1 This prevailed in a reserve r district and andin andin andIn in about thirty cities of the country including New York and Chicago Replies Not Necessary t Mr lr Coffin then testified that the I printed letters sent to the banks were formal and perfunctory signed ith autograph stamps and containing di dl directions directions regarding the reduction of ex excessive excessive loans These letters were not followed up and replies even oven were not necessary The witness asserted that all nIl loans from banks by b their officers excessive or within the limit provided V by law are an generally considered mat tors of judgment Memorandum notes arc are customary he ht assorted asserted in all banks with which he ho Is familiar |