Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-01-15
Warns Against Banco Nacionale.

Warns Against Banco NaciOnale.
Pulliam further testified that he
had warned Assistant Secretary of
State Osborne in July, 1913, under
no circumstances to have anything to
do with the Banco Macdonald crowd"
and had explained the character of
the situation TO him and that il was
seeking 10 exploit Dominican finances.
He said ne had set forth in detail the
activities of the institution in let
ter to Gen. Frank Mcintyre, head OF
the bureau Of insular affairs, in the
war department.
Il was surprised and incensed, he
said, that such coterie got to Bry-
ans ears. | was sorry to see the re-
ceivership of customs made the sub
ject of political exploitation. | re-
called the instructions which Secre-
tary Root gave me when he said that
those funds should be administered as
n sacred trust. For eight years the
receivership had been operated with
out any trouble and the difficulties
that later arose were unquestiOnably
caused by Sullivans transferring the
funds to the Banco Macdonald. That
was what they wanted. They had no
funds. They wanted to establish
credit for themselves Why, nobody
would accept their notes of issue eX-
cept as handbills on the street. The
bank was a joke.
Pulliam said he had no doubt that
the Jarvis interests were responsible
for his removal. 1t developed, ae-
cordng to the testimony, that the Gus
toms funds were eventually trans
ferred to the Michelena bank, the
original depositary an institution
supposed to represent the National
City bank of New York, and in this
connection, Pulliam said that on July
16 last, in company with Senator
Chamberlain of oregon, he saw Sec
retary Bryan in Washington.
This is what Mr.. Bryan told the
senator" testified the witness: My
objection to Pulliams is that he was
entirely 100 friendly with Miehelena.
| said: Now, that your administra-
ton has Leen forced to put back the
funds into the Michelena bank, dom
YOU think | have been vindicated!
He evaded the question by saying;
IT has not been officially brought to
my attention that the transfer was
made.
Did Mr. Bryan appear to be OBJ
sessed with the belief that the power
behind Michelena was the National
City bank, which represented to nm
the so-called money trust?' asked
Commissioner Phelan.
'He did" replied the witness. The
Jarvis interests were piqued, he said,
because the National City bank han
died a $500, 000 loan Of the govern
ment in which the Miohelena bank
acted as its agent. They had report
ed that the National City bank was
seeking to exploit the island, he said
| but as far as he knew, the New YORK
, institution had no other interest IN
Santo Domingo.
Wick took the witness stand and
testified that Secretary Bryan at me
recommendation of Boaz Long, until
| lately ntN0 OF tiit i-h'iAA 40 '+N'
department, eand friend OF ). H'
Gray. who was a great friend OF the
Rance Macdonald crowd, had ap-
pointed Charles NJ Johnston Of IN
dianapols as financial expert for me
| republic
BRYAN told me that Johnston
would get $4,000 q year ana eA-
penses. said The witness Johnston
was flour salesman in Mexico ana
~ far as know, has never hao aNs
oxperleuce that would 4lallis nil i"i
ihe iob IN has been down lhfie t'h
months and haan.i done lniAb ~
was insuuafd g. pay aia FHlaiPl
! M j fefaeed. hecua q ~aNid ll'f.
heen iafsai Hn8n ihe fiWs e NW
anHpHoa Won iha apHp'' 'N'p
son n aUHOa ~ aoH N '0A'
/ l0ll.r.HWN 0fl natsa a q W