Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-12-23

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Mexico city Dee 22.-The drec-
tors OF the bunk of London and Mex
leo tonight began careful scrutiny
of the affairs of that institution. and
II their findings are endorsed By 9TH
er bankers # is not improbable as-
surance will be offered the directors
which Will enable fun resumption
of The business of the institutions IL
rs reasonably certain however the
bank will continue 10 avail itself of
the decree Of President Huerta, is
sued today making the last ten days
Of the present year legal holidays
With the possible exception Of one
other institution it Is believed that
no other bank than the Bank of Lon
don and Mexico viii take advantage
of the official edlet which authorizes
financial institutions TO do as little or
as much business as they desire dur
ing what is regarded as financial
crisis. The Bank of London and Mex
leo was crowded 10 It's capacity a.
the closing hour of business today by
men and women who were trying To
withdraw their deposits The lines of
dcpostors extended from inside the
bank 20 the street
The amounts paid deposltors were
limited to 200 pesos, and no assurances
were given that even this much would
be given out In the future. The ap-
proximatc amount Withdrawn from
tho bank since depositors began de-
manding their money several days
ago is said to exceed 100000 pesos,
Of this amount. 1900 ,0O0 pesos
07,OO0OO was Withdrawn since
last Tuesday.
The Bank of London and Mexico
has In the various states. twelve
branches, four of which were closed
some time ago on account Of local
conditions These were al Monterey,
Toueon, Ma2atlan and Durango. on
q minor scale the condition Of the re-
naming branches Ia similar to that
of the parent institution but all are
taking advantage Of President Huer-
ta's decree which has been telegraph
ed to the various points where the
branches are located
The critical position in which the
Bank of London and Mexico was
placed has been no secret for some
days Ia the other banks, ana the sug-
gestion was made on Saturday that
President Huerta be requested to save
the situation ty making II possible
for a bank legally to refuse payments
for a period The management de-
INJURED, as 1t believed 1t could weather
it out hut at the opening hour this
morning it became evident 1t could
not. and the finance department was
called upon for aid
A decree was proposed and a search
for the president was begun lie was
located shortly before noon and af-
fixed his signature without hesitation
An extra edition Of El Dario, the
official organ was published, carry
ing the decree ana with this posted
eonspicuously In and about the build
ing the doors Of the bank were open
ed early in the afternoon
President Huerta's right TO issue
the decree, was the result Of the ac-
ton of congress prior 70 adjournment
when IT vested in him extraordinary
power over the hree departments of
the government including the depart-
ment of finance The decree reiterated
that 1t was issued in accordance with
this extraordinary power and that the
holidays were decreed 'on account OF
the difficult circumstances in which
the country hnds itself and IN order
10 give sufficient time FOR Hnfounded