The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1915-02-09


the governor Of New Mexico and soon
thereafter rendered bits resignation as
a member OF the board and repeatedly
announced his Intention not TO attend
any other meeting Of the board. Bls
resignation not having beer accepted,
upon appeal BY the governor. he re-
sponded and went 70 the rescue and
did his best TO bring about some de-
cree Of order out OF chaos.
Both OF the surviving banks Of Las
Cruces stood ready 70 come 70 the
assistance OF tie Institution when
those who were felt to be responsible
for these conditions In the college
which I have outlined had ceased TO
have the management OF the fund.- Of
the institution.
This memorial contains a brief an
alysis OF the sources from which the
various appropriations OF the state az
riculturai college come, and the sum
total of the same.
tAfter rccltlng the contents and
suggestions of the memorial. Mr. Holt
~contlnued.l
I hesltated TO submit that memorial
for the reason that such diversion. Il
made, would be a violation OF the
trust arising under the terms OF the
land grants.
latter rcciting the constitutional
and enabling act provisions which In
his judgment prevented the use OF col
lege trust funds for the temporary
relief OF the institution. Afr. Holt con.
rrNNN afaaa.mN- a..awa.I -
Saturdays Evening Herald. The
following collOquy between Mr.. Barth
and Mr.. Holt then took place;1
AIR. Barth: viii the gentleman
for a question before he goes
further The gentleman referred 10.
Smith. who u appears. was presl-
dent OF the bank OF las Cruces which
failed. and spoke OF an amount OF
money being borrowed BY the presi-
dent and his immediate political ASSOC
ciates. Does the gentleman know
who these associates are3
Mr.. Holt: Yes. sir.
Mr.. Barth: Who9
Mr.. Holt: The records show that
paper In that oank as follows. Signed
by l.. b.. Smith, a brother OF the pres
ident. 81 Will give round hgures). ti2.
Geo.; by NJ. O.. Lleweliyn. eleven
thousand seven hundred odd dollars.
plus an overdraft which brought the
total up 10 between $4,000 and s1s.-
900. by T. n. smith. $4,000. in round
figures. by Fay Sperry. former vice
president Of the institution who later
from the bank. $1,000: and
! might say. parentheticaliy. that ar
the organization Of the bank and
during the first state election cam
Mr.. Fay SpcrTy. having become
the business associate OF Mr.. smith, I
TO having been q lifetime Re
publican. declared himself n Demo-
crat and became one OF the most act
men OF the campaign. Mr.. Sperry,
prior to the failure OF the bank, in
me that of he paper which
in the bank gearing his signature
Is shown by this report In January Of
1914 which then aggregated t1s.470. |
Of II was accommodation paper
signed by him at the request OF
smith; the aggregate OF his paper IL
how Si7.7O0.
Mr.. Barth: Were those all The po-
itical associates?
MIR. Holt. No. I am moi through
yet. O. Wetlaufer. former registrar
" the college. short 5000 and not re-
Iponsible financially OF otherwise,
wing the bank tI.242. G. n. smith,
brother Of r. II. n. Smith.
T. X. Cleveland. cashier OF
he bank and brother-in-law Of r. r.
.. Smith. S4,25O. plus On overdraft Of
$1,000, which his father paid
or him after the failure In order q
Seep him from being prosecuted;
John Birdweil. assistant cashier Of
he bank, a boy about "a years old,
lot worth v dollars. $500; Hugh
larry, stakeholder. director and can
lidate for count treasurer upon t1e
Democratic ticket at the first state
$4.S79; Nc. H.. Thompson, who
vas not a political associate; NJ B.
who was not a political as
not officially AFFILIATED with
II. n. Smith. nut who has been he
for the bank from the time
/ started. the personal friend and in
innate associate OF Mr.. Smith and his
lersonal attorney. $500. plus an over
raft which brings the aggregate up to
omething over 50. 1000. which. how
Yer, Mr.. Thompson informed me that
Ie was able to pay and would pay as
Don as the receiver had been appoint
d: r. p. Porter. director OF the banS.
ID, 800. Mr.. Porter Is a responsible
usiness man In Las Cruces, present
norman of the board 0f trustees OF
town and financially responsible
or this and considerably more. one
illbert-and there Is an Interesting
contractor from silver city.
anne down about six or eight montds
so. after Investigation and examine
ion made In January. 1914. when Mr..
let a contract To build a $4,000
in Las Cruces. on the corner
ight across the street from me. MT
Hilbert was the contractor who had
ne work in charge. II appears from
he records that Gilbert had in he
a note for $4,000 and an over
for S4,6OO, making an aggregate
II about $500. These amounts, Mr..
President. aggregate S~i3f,522.S3. 10
amount must he added the Si0,-
90 item OF the Toyah county hank OF
ialmorrhoa. which, as ! told YOU, was
mNaUs.aa. WHN.mH LUNUw- III aAHaN IN IN n