The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-31

has invested the commission with the
powers of a court, and will sustain its
action in Furnishing a refusal to testify.
The Banco Espanol is so intimately
connected with the finances of Havana
as a creditor to the amount of $780,
600, and as a farmer general Of the
principal sources Of the city's revenues,
that the commission deems 1t neces-
sary to get complete accounting from
the bank as to past transactions and
q statement of what 1t is doing now
with the city's market dues.
The commission requested Senior
Galbist to present himself for examina-
ton last Friday, and again on Satur-
day, but he sent word that he was in
disposed. He was then asked to come
before the commission at 9 o'clock this
morning, but today he sent message
that he was physically unable to COM
ply, in consequence Of the exhaustion
due to his bank 1abors. This reply
was regarded as unsatisfactory, and
the peremptory notice for tomorrow
was served upon him. II he now re-
fuses, the only thing that can prevent
an arrest-so a member Of the COM
mission says-will be medical certifi-
cate. Should this be produced the
physicians who act for the commission
will be sent to make an examination
of Senior Galbist. Of course. if he OBJ
stinately refuses to testify he will be
dealt with for contempt and made an
example.
SOME CLEAR SAILING.
The commission expects to have easy
work so far as the other officials, di-
rectors and employees are concerned.
All will be called upon to make full
pert accountant, and his assistants,
will explore all the books Of the bank
accessible. Information has reached
the commission that some Of the books
have strangely disappeared.
The commission considers 1t a public
necessity to inquire as to the integrity
of the first mortgage, :7,0O0,000, 6 per
cent fifty-year bonds, taken by the
bank at 80, in, 1890, and since reduced
by sinking fund to $6, ,721, ,O00 The ques-
tions are, who got the proceeds, how
much was realized, and whether the
bonds in their entirety are or ought to
be chargeable to the city Later the
commission will go into the So, ,50O, 600
Bank of Commerce loan, and also into
the floating debts, amounting to s2,-
500, 900.
This inquiry will either establish or
negative the various statements of
connivance and corruption on the part
of the Spanish government, which de-
posted with the Banco ESpanol In sill
yer an amount equal to one-third of
the $50, 900, 900 note issue guaranteed
by the bank. 1t is not clear where the
silver is. The officials of the bank as
sert that Spain withdrew it, but some
note holders say the silver Is still held
by the bank, or contend that if the
bank allowed a withdrawal, 1t is still
responsible for the redemption of the
notes. AS the question is one of keen
interest to the business community the
commission proposes to probe it care
fully.
The Banco Espano1 is capitalized at
$c,UVV,VVV. Ic diiOuHl OIL QepOSltS Is
not known to the commission, but it is
supposed to be at least $1,000, ,000 The
directors are wealthy. Options on
bank stock were held few days ago
by prominent Americans.
A good block of Havana bonds is held
in New York First mortgages were
quoted on the local bourse today at
1o9