Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-05-21

it. ! viii withdraw from this case
now"
"Do as YOU please about that re-
torted the Judge. but don't make
such remark again"
Several of the banks lawyers sur
rounded senator Bailey and after
some conference, he said TO the court.
i feel that | owe to my clients q
duty higher than | owe TO myself
Therefore l will remain and continue
the argument"
Judge Mccoy Lcnient
Il also feel that / owe a duty to
your clients" replied judge Mccoy
and that Will lead me TO dismiss
what you have said from my mind"
Whereupon the argument proceed
ed.
Mr.. Bailey began his argument by
contendng the comptroller, in fact,
did not have power to assess that
penalty
'lf he had the power" said the
lawyer, then we cannot give satisfac-
tion here. But If he had no right to
impose it, he is wrongfully withhold
ing our property and this court
Mr.. Bailey referred to Mr.. Inter
myers discussion of the facts yester-
day as inaccurate"
"He did not fairly state single
fact in his argument" said MIR.
Bailey. II believe his misstatements
were due only to his misinformation.
If i had ever doubted the malice of
the defendants, that doubt would
4
here and BY MIR. Untermyers speech.
If what they say is true, this banks
charter should be revoked and the
officers called to answer for their
msdeeds."
Mr. Untermyer's reference to a
pipe line" between the treasury and
the Riggs bank and the National City
Mr.. Bailey characterized as political
accusations"
Il never thought political accusa-
tions proper to repeat when | was in
politics, and | think they should less
properly be repeated in a court of
law. | might as we'll say that while
they eliminated the pipe line they
have established another from the
government to Kuhn, Loeb a Co. +
do not say it, however. ! might as
well say there now is pipe line to-
the Commercial National bank in
Washington but | will not say II.
The Commercial is headed by a,
former associate of Comptroller Will
liams.
Withdrawal of Funds.
Mr.. Bailey declared the withdrawal
Of government funds from the RIGGS
bank on the ground that II was not
commercial bank was without legal
excuse. Commercial paper, he said,
was not better than stocks and bonds
m the assets of bank.
Attorneys for the treasury officials, !
lie declared, had distorted the show
ng Of loans by the bank to treasury
officials
"That we loaned money to officials !
II the treasury department Is true,
he said. But these gentlemen did
rot supply the whole record. If they I
1ad looked further they would have
ieen that we lend money to men not !
,nly in the treasury but in all govern /
nent departments. If they had looked |
arther again they would have found |
hat we lend money to members Of /
no house and senate. without regard /
o political faith, section or power. II /
he facts were thai We loaned only TO 4.
reasury officials there might be some |
'laims that the loans were made to |
influence them
Taking up the charge Of Mr.. I'm
ermyer that the bank had prospered +
" jefying practically every section |
# the banking law, Mr.. Bailey said;
Il challenge these gentlemen to |
rove that a single section Of the bank |
ct has been violated except the in
onssquental deficiency of reserves /
Omitted"
The charge that officers, directors I
r employees Of the bank held excess
i've loans was flatly contradicted by /
1r. Bailey.