Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-02-07

that institution of the board of re-
gents OF the New Mexico College Of
Agriculture and Mechanic Arts, Sen.
Herbert D. Holt this afternoon made
scathng attack upon the present adj
ministration.
MIR Holt. in part. said
"A few days ago. when there was
under consideration by this body a
resolution calling upon the honorable
chief executive for information in his
possession or Iat his command per-
tanning to the subiect-matter of this
bill certain remarks were made by
ihe senator from Bernalillo county.
He stated that he had reason to be-
lieye that | had in my possession d
memorial drafted under the direction
Of the board of regents of the state
college, and he evidenced an amazing
familiarity with its contents. How
ne became familiar | don't know ana
don't pretend to say. But such a mem
urial is in my posse ssion and has been
since the converting of this legislature.
II was handed to me by the present
secretary treasurer of the college in
Albuquerque. while | was there on my
way to Santa Re ! was asked as q
member of the majority of this body
to exert myself to secure state relief
| for the college, to relieve a condition
resulting from the failure of the First
state bank of Las Cruces The appeal
was made to me as a resident of Las
| Cruces, and as a man whose record
/ had shown particular interest in the
! state college. Previous to my meat
| ing with MIR McCanna in Albuquer-
que had told him IN Las Cruces that
/ there was no one more earnestly and
vitality Interested IN the success OF the
State college than myself. and that no
enc would exert himself more than /
would to help IT, But frankly told
| Mr.. McCanna at that time that /
would hesitate TO ask my republican
| colleagues in this legislature to act
until the governor took steps TO re-
move the two democratic members of
the college board at whose door rest
ed the blame for the college condi-
tons.
Didn't want to Force 1t.
cation now called for. But my knowl-
edge of conditions as a resident OF
Las Cruces made me feel that an in
vestieation was absolutely necessary
within three hours after my ar.
rival in Santa Fe / had an interview
| with the chief executive, in the course
Of which he said that the resignation
OF one of the democratic members has
been presented and accepted, and j
which he minated that the resigna.
ton Of the other, Mr.. Paxton, nigh
be forthcoming. on Mr.. Paxton
shoulders, as president of the'board O
regents, rested the responsibility fol
the proper administration OF The col
lege affairs. And at his door, more
by sins of omission than commission
rested the principal blame for the in
tolerabe conditions that existed 1
was a matter OF common knowledge
after the appointment of the boart
of regents by the present executive
that the institution was being rur
along political lines. one of the tw,
men mentioned openly stated after tn,
election that the then president of tn,
institution would be removed simply
because he was a republican. and a
the first meeting of the new board Thu
threat was carried out
"A Spider in His Web"
THE president of the defunet FRS
state bank Of Las Cruces has beer
like a spider in his web, debating tn
policy of the state college.
In June, 1912, Morgan @. Llewel
Ign, as secretary treasurer of tn
state college, gave surety bond 4
few months later the company asket
to be released, and later was released
In the meantime, it had develope,
. ttlrat the First State bank, the deposi
: tory of approximately $4,000 o
state college funds, was unable L
obtain from responsible surety com
pany a depository bond to the col
lege secretary treasurer. 1t was no
until March, 1914, that Llewellyl
gave new bond, and in June follow
Ing, the company that bonded him i
March, fled notice that ii desired I
be released The attorney general too
the stand, and 1 believe correctly
that the company could not unde
the terms of its bond, secure releas
simply by fling such notice. Th
company insisted on being relieved
but on September 26, following, !
accepted the premium on the bone
and it now seems as a legal propos
ton that the company is liable How
ever, the attorneys for the compan
say that they will not pay the bon
unless forced to do SO by the coul
Of last resort.
| "The governor and the travelin
i auditor-at least the governor--wa
y aware of the fact that the compan
desired to be relieved Of its bond, bt
1 still no action was taken looking I
t the protection of the large amount
I state money in the bank, That III
bank couldn't secure a depositof
! bond was matter of commo
q knowledge
v aThe First state bank Of Tucun
e carl was organized BY man name
I Hugh swift, who had been cashi'
Of the First state bank Of Las crucee
! 1t was organized by manipulating u
i; debit and credit accounts of the Ia
/ ter institution 1t had brief care'
st and a rotten failure. About Oetob'
II 1913, it failed and Swift and I. \,
4 Smith, president of the Las Eruc
: bank, were indicted in connect'
il with the failure. But in the hght
r al this, no action was taken to saf
: guard the state money on deposit
J. Las Cruces.
, Bank in Bad shape.
- As a result Of the Tucumeari PAL