Bisbee daily review., 1904-02-23
Receiver of the International
BANK OFFICIAL HANDS IN HIS
 FIRST REPORT.
Found Forty Dollars in U. S. Money, and Three Hundred and Ninety-six in Mex. When He Took Charge of the Bank.

A partial report filed with the dis trict court this last week by Receiver
 Frederick Herrera of the defunct In- ternational bank at Nogales made some startling revelations. MT. Her rera reporte to the district court that he found the books and accounts of the bank in a bad tangle. When he
 took charge he found just $40.75 in American money and s396.67 in Mex ican money in the vaults of the bank.
 His report shows that the bank loan
 e6' large sums of money to two con
 cerns. the International Trust compa- ny and the Arizona Commercial com
 pany, without security. John Des- sart, president of the bank, is presi- dent of the Arizona Commercial com
 pany. and l.. F. Swain, cashier of the
 bank, is secretary of the same compa-
 ny. The officers and sole stockhOld-
 CTS of the International Trust compa-
 ny are R. Allyn Lewis, president: l..
 H. Rhuart, secretary; anc John Des- sart. treasurer.
 The report of Receiver Herrera
 shows that the International bank held
 four notes of the Arizona Commercial
 company unsecured in the following
 amounts. s5.000. s3500. s2,5O0, s2.500 Tho bank held one note of
 the International Trust company for
 s25G0, the Arizona Commercial com
 pany was overdrawn s53 ,S7S.50 Mexi-
 can money, and the International Trust company was overdrawn s34, ,410 in the
 same currency. The report of the
 receiver goes on to show the follow
 ing items attached in the list of over
 drafts: L. F. Swain, s3.9445S; l..
 Swain, personal. s15,952.12; l.. F.
 Swain, srecial. S21,423. Another par ty is overdrawn something over S12.-
 G00 The bank held the note of a mining company of which Swain is
 secretary for s250.0O, and R. Allyn
 Lewis as agent was oyerdrawn S430.44
 The report Of the receiver shows
 the total deposits in the bank to have
 been s75,O67.41 in American curren- cy, and s146. 545.24 additional in Mexi- can money. The largest depositers , on the Mexican side of the account are the Banco Minero. sS6.42401, and P. Sandoval & Co.. s14,97S.46. On the American money side, George B. |, Marsh, treasurer of Santa Cruz coun- 1 ty, P J. Sheehy and, w. F. Marleau administrator, are the largest deposi- ! tors.
 R. Allyn Lewis is credited with a certificate of deposit for s5.000; the | National Bank of Commerce. New | York. $31 ,390.52, has one of the larg est claims, and the Consolidated Ma ! tional bank of Tucson has a small 1 claim, according to the report of the | receiver.
 | It is said that the receiver will re- | quire several months before he car
 make his final report The deposits of the bank went largely into the hands of the International Trust com.
 pany and l.. F. Swain, according to the
 report. The Arizona Commercial
 company sold all its interests some time ago, and 1t is alleged that some | of the leans were made to that con | cern after it sold out Those in No | gales who charge that the officers loot ' ed the bank have names of their own for the International Trust company and the Arizona Commercial company. Post.