El Nuevo mexicano., 1916-09-28

tllbH i molten Tor 1 hlll " pan
ticuIafe, 70 nsflke Bit .1Aks
mere deflnIta 9Dd certain, 4
pleading 10 btfIkf put general AZ
legations and 10 require The com
Rlalnt 70 specifically Hkt Dit tha
fhings m which ~ cpinpJaine, 40
that the party analhsf whom fhs
complaint ls brought may know
fFsarly what no required TO
meet On june rs, 1915, Mr.,
Rprkhaft called up sbe motion, Il
wac argued and the court sut-
tained II, Mr.. Hpfkhagt later on
July 8, 1878, FLED 4 motion ask
IND that the order sustaining the
first motion ne set AeIde and that
II be argued further and that mol
ton a, still pending. M. Burk-
harris associates Indicated that III
the order az the court sustaining
the motion for 4 blu Of barslcn-
lars was not sek aslde they were
ogt Of court as they could not
comply with the order.
1Mr. Burkhart had caused the
travelling auditor and bank ex-
anflner to depvtlse an accountant
Of his (Rurkhaftss) own selection
TO examine the bocks and ac-
counts Of the trust company and
a most thorough and exhaustive
examination W4s mado. Mr.. Bufts
hart had hoped and had led him
cell TO believe and stated in adj
vance Of the epnrlusion Of khe ex-
animation that Il would disclose
irregularities on my part IN the
conduct Of The business 81 the com
phny, An Incident that happened
on the return Of the accountant
from Santa IA a. an official bank
examIner VIII Ulustrate Mi. Burk-
harts character, MI, Burkhart
teIephphed me at my ranch near
Albuquerque and advised me that
MI, was there. asked
him what he wanted. MIR. Bufk-
hart replied, fEank examiner
from. the travelling pudItcfs d.
flee to examine the trust com
psny,, and laughed derlsiveIy.
Al this time Mr., Hurkhart was
not speaking 10 me when ne pass
ed me on the street.
"The aesountant was occupied
for a period Of several weeks In
making the examination and
when he was through ] stated to
him that he had been put III there
to find something against me and
asked him what he had found. He
replied that my eurnuIse Was cor
rect, but that he had not found
any evidence or Indication Of any
wrong-dolng on the part of any
one, that the record was clear h
that regard, He then made some
criticisms Of. omIssipps and Of
the exercise bf official Judgment.
! was not permitted 20 see HE re-
port. You may rest assured,
that If there had been even a
suspicion Of a technical violation
of the banking law that would
speedily have heard AZ u n a
most d~isasFeeahIe way, Mr..
l5urkhart would have seen to
that.
"The loss to the stockholders,
exclusive Of the loss to the Of
fleers and directors, would have
been $4,000 to $4,000 and pos
sibIy no loss at all " the volun-
tary liquidation Of the assets of
the company had been allowed to
proceed. The book value OF the
stock outstanding at the time the
company discontinued business,
exclusive cf that held by the Of
ficers and directors was approx
mateIy $4,000. The recelvershlp
proceeding may result IN q loss
to these stockholders 81 this en-
tire amount. There was no occas-
ion for the reeeiyefship and none
for a law suit. There wal no Ices
TO deposItors exeeptto myself and
the small unclaimed deposit mem
they we're paid In full.
was no run on the trust
company and no desire TO With
draw deposits; II discontinued
because Il was believed
% the best Interest OF all con
rerned to do 50. The capital OF
he trust company was eioopoo,s
"s"-f HftHHt 4HHl