Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-02-07
LII u noIp TO rm FACTS.

Discussing the Investigation 81 the
\ Las Cruces muddle the Santa Fe
New Mexican SAYS
There b.. Of course, the bare. nut
{ cutie conceivable possibility that inc
I legislative dfagncf ID this case might
( bring up some republicans u y per-
mans not with 5ut the houn0s 81 imdg
7 lnation that enemies Of the bank and
/ the college management ~ different
political faith. do not particularly eN-
CIT thcmeclXeT 90 put Il Mildly, 70
prevent the crash.
However much any newspaper
may wish 70 - the opposition 70 the
republican party thrive. the clreum-
stances in which he legislature has
wisely decided % Investigate the adj
ADMINISTRATION ~ the agricultural coi-
iege. the failure ~ the First state
bank Of las Cruces and the manner
in which the travelling auditors office
hes been conducted. admit Of no
duibhling. II Is matter 70 be faced
frankly. and without attempt TO con-
done vronedoing, whoever The
wfongdoer may be-
We can judge Of motives only from
the facts Developed It IL quite possl-
I ble that there were republicans In Las
Cruces not ayerse 10 seeing the bank
break. but the fact remains that the
bank would have failed soon, regard
less IT what any competitor or po-
lntical enemy might have done 70
hurry Il along
The creditors committee has learn
81 that even after assessing the
'aocthoiders 81 the failed bank for
IAN that can be legally collected from
them. az best the deposItors must
| lose nj least nfty-four per cent and
the chances are against the final pay
lment Of more than twenty-five per
cent. No hank in that condition could
hope 10 keep It's doors open for long.
over and above everything else,
the dnmnlng fact stands out that
without any security. and with only
la small amount If money Invested
lin the stock OF the bank. the Smith
family had borrowed from t. Mr..
lBlood says in his statement to the
legislature. $4,000. our understand
Ing has been that the figure ie SSH
600 We are also informed that not
more than $4,000 can ever be fealiz-
ed from All Of the assets Of the Smith
family turned over TO the creditors
Of the bank.
For the negligence Of the travelling
auditors office. there can be no ex-
euses, The people Will receive with
limpatienoe any attempted excuse,
The people Of New Mexico have a
right 10 know all the facts. The gov
iernor complains that Representative
blood has listened 70 and restated
street rumora. Mr. Blood stated part
loniy OF what all Of as have heard.
The governor. the travelling auditor,
Mfr Paxton and Mr.. Ilewciyn, the
people presumed 20 know the facts
never have stated the contrary cx-
cent in Governor McDonaldH schef-
lalitlea IN reply to Mr. Blood.
II most of MS believe Mr.. Blood
I aave only d mild statement OF what
, IN honest investigation VIII disclose
: We have had nothing from any am
thoritative or unauthoftativc source
ia lead us to believe otherwise.
l3ut there Is one consolation IN Il
IAN. Tho abuses that have existed Al
state college for twenty years VII
be corrected in response to public de-
mand and when hank is discover.
ed In an insoKent condition no po.
ltical pun win give q time to becom,
more insolycnt