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Show t W. S. rVfcCornick Expfaios the Transaction Between His Private Bank and Utah National Editor Tribune: In 3"our issue of this (Friday) morniug, referring to the . Ulah National hank jnatter, jou make use of the following language: "When the Federal grand ,1 11 1-3- meets next week some persons expect ihnt Mr. Adams will be asked (.0 explain what ho meant when'1 ho said in his statement to The Tribune, that on his return from the JSnst he found evidence of some transactions trans-actions (hat ho could not npprovo of'.'' There is also an insinuation (hat: there are matters for other officials of lite bank to account for, and the inference infer-ence is that these other matters or transactions have some connection with lhe loss of the .$I0(5,C."i0. L am. and for some time have been, aware of the fad that an effort is being uuido, to connect a deposit of funds made, in September, ID07, by (ho Utah National in (he bnnk of IcCornick & Co. with the taking of the cash from the vaults of the Utah National, and 1. must tiHSiinuj that this is what is referred re-ferred io iu tho paragraph above quoted. So far as T can see, no reasonable, rea-sonable, unbiased person can sec any connection between the two. and the effort to link them together at I his time, when everything is given a sensational sen-sational aspect, is unfair and in no way justified by the, facts, "which aro as follows: fol-lows: In September, 11107, the Utah National Na-tional had an account with McCorniok & Co., upon which, as is the custom among banks, it drew interest on daily balances This account was of long standing and still exists. On September 20, 1907, that being about the time at which a call, for statements of (he condition of private and State banks might be expected, naturally f -desired to furnish and publish pub-lish a statement which would show our deposits as large as possible. On that day, with a view to this result, I requested re-quested Mr. Nelson, tho cashier of the Utah National, .io increase the bank's deposit with MeC'oriiiok & Co. as much as convenient. I ask id him if he could deposit .f.l00,UU0, and he stated that ho 1 could spare $500,000 and would deposit that much, which he" did, in New Y'ork and Chicago exchange; that is. by drafts drawn in favor of Md'orniok & Co. on Eastern correspondents; and the credit was entered on AfcCornick & Co.'s books in lhe usual manner. On October I tho larger part of this money was drawn out by the Utah National. At. its request '$150,000 wns taken in Eastern exchanges; that is. bv drafts drawn by MeCornick & Co.' oh its Now York correspondent, and the remaining $20,000 was loft in its account, ac-count, subject; to chock. Tho canceled drafts, with their indorsements and the entries. 011 the books of the two banks themselves afford a complete history of the transaction. It is beyond my comprehension how this is connected with tho disappearance disappear-ance of funds at a later date, and .f know that so far as J. am concerned there is absolutely no foundation for the fiden convoyed bv your article. W. S. M 'COfiNICK. Sail' Lake, Ar'U 10. . " r , . r j |