Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1905-10-28
wILFuL MISREPRESENTATION

Col. Max Frost. editor OF the Santa
Fe New Mexican. during his recent
visit In Washington, took occasi0c 10
inquire carefully into the matters ION.
corning the Enterprise bank. The
subject Is onc Of a great deal Of In.
terest In New Mexico. Accordingly
we give considerable space to the re-
production OF the following editorial
by Col. Frost:
The New Mexican has carefully
read the news dispatches and editor
ials which appeared in Philadelphia
and Pittsburg newspapers recently
concerning the connection OF United
States Senator Boise Penrosc OF
Pennsylvania. Delegate w. H. An
drews Of this territory, and several
Pittsbnrg capitalists win the failure
OF the Enterprise National bank of
Allegheny city, and OF the suicide OF
its cashier. 7. Lee Clark, a week ago.
The charges hostile TO Senator Pen
rose and Delegate Andrews made BY
these yellow sheets are not sustained
by the facts as far as developed. The
state OF Pennsylvania. which had
about 100000 on deposit in the bank.
will not lose q vent and will have its
deposits returned In full. The de-
p~OsitOrs Of the bank are also abso-
lutely secure from loss. Senator Pen
rose has borrowed no money from the
institution either individually or by
endorsement. Delegate w. H. An
drews also Is not a personal debtor
to the bank In any sum. None Of his
associates In the Santa Fe Central
railway and the Pennsylvania De.
velopment company's projects owe
the bank any money individually. II
the bank holds notes signed by the
Santa Fe Central railway and the
Pennsylvania Development company
In large sums, this money was OBJ
tanned In q legitimate way and for a
legitimate purpose, namely, the con-
struction and maintenance OF the
Santa Fe Central railway from Santa
Fe to Torrance, one hundred and six
teen miles long, and for the carrying
out OF the projects for which the
Pennsylvania Development company
was organized. These loans accord
ing to the best ob.a:nable reports,
are secured by large deposits OF
stocks and bonds OF the two corpora
tions named. In these transactions
there was certainly nothing illegiti-
mate. They were OF the character Of
business transactions which occur In
the curse OF business Of many east
ern institutions. and the Enterprise
National bank was evidently a bank
ing institution which engaged In pro-
noting and financing big railroad
and other enterprises.
The newspapers In philadelphia and
in Pittsburg opposed to the republl-
can party In the present campaign.
have made mountains out Of mple
hills and oceans out Of tiny br0Oklets
for no other than political effect. The
columns and columns Of dispatches
which have been published In the
Philadelphia newspapers contain but
a few lines Of truth to q column and
In some instances not even that much.
The glaring and gruesome headlines
used are not supported by facts and
are all bused upon "rumors." re
ports" 1T ID said," 1T Is reported
"a permanent financier," "a leading
citizen ETC., etc.
To be sure, the suicide Of Cashier
Clark was an unhappy and sad al
fair. According to the best. informa
ton obtainable he had no cause to
take his own life IN account Of the
financial condition Of the bank. and
had he had the nerve and courage to
face the situation Il II believed that
he could have u~nraveled and made .
satisfactory explanation, and With the
lid Of capitalists who are Interested
the concern Strengthened Its finau.
.iai conditions satisfactorily and fall.
to all concerned. At any rate. 10
ar nothing has appeared to substan.
late the grave charges and sinister
nnuendos which nave appeared In
Philadelphia and Pittsburg
leswpapers against Senator Penrose
Delegate Andrews. General Torrance
Estate Senator Arthur Kennedy and
,thers who are all well known to the
Of New Mexico. and who, dur.
ng the past few years. have done
much that Is beneficial towards de.
clipping the central portion OF this
prritory. That the Santa Fe Central
ailway. I'm due course of time will
e a paying railroad Is not doubted
v those who are well posted upon
lie situation. That II will take some
ears to bring this state Of affairs
bout Is most natural and expected.
hat the funds obtained from the
nterprise National bank and other