The daily morning oasis. [volume] (Nogales, Ariz.) 1917-1920, 1920-06-09
ng exposed the inside history Of that scandalous

bank failure.
The editor demurred at the imputation, and as
serted that he had done everything possible to get at
the bottom of the story and had sat in the Court in
Santa Cruz County when the civil suit against R. Al
Ign Lewis tried and had published full synopsis
of testimony taken, had attended the criminal trial
against Mr.. Lewis in Pima County, and had published
copious notes of the evidence there submitted, but
that not scintilla of evidence had been drawn out
which went to the bottom of the subject while Mr.
Lewis had been acquitted on the criminal charge, and
had not Jared very seriously in the civil suit.
"But" said the editor to Nh. Tener eff the three
directors who withdrew from the International Bank
in Nogsles very few months after thew went In at
REORGANIZATION without making public the fact that
they had withdrawn would have made known the fact
of their withdrawal and told the public why they had
withdrawn "The Oasis" might have had something
to print that would have been interesting; and the
exposure might have saved part of the large sun
of money that was lost when the bank did collapse"
Mr. Tener looked very uncomfortable and said
'''that means E. Titcomb, Captain Mix and myself"
The editor disclamed having mentioned any
names; but Mr.. Tener plainly repeated his assertion
that Mr. Titcomb Mr.. Mix and himself were the three
directors who withdrew at the time cited.
Now" said Mr. Tener, "the situation was this:
When the international Bank reorganized, after
Mr. Herrera sold his interest and went OUT the cap
ital Of the concern increased from $4,000 toS5O
OOO The additional $4,000 of stock was taken by
five men, in lots Of 5000 EACH. Those five
John Tener, Edward Titcomb L. w. Mix, John Des-
sart and R. Allyn Lewis. We five became directors,
Shortly afterI discovered that my 5000 the only
cash that passed into the bank for shares The other
four gave their individual notes. So OF the $4,000
additional capital 1000 was Just paper, and but $5,
600 cash. did not like that but brooked it.
~ A little later Dessart and Lewis organized the
international Trust Company, of which they were
president and treasurer respectively (or treasurer
1o11f,11 do
The rest of us had no interest in that
"After few weeks the cashier accosted me on
the street and requested to call at the bank, he
wanted to show me something did not go until he
made me a second request. | went to the bank and
the cashier showed me where the International Bank
had loaned the International Trust Company the
handsome of $54 900 upon the notes of the Trust
Company signed by Lewis and Dessart as it's officers
and they had not even endorsed the note Individually
as they might have done l called meeting of the
directors and laid the matter before them. Lewis
bought my shares, paying me $4,000 and some $500
earnings, and was director no longer l under
stood that Titcomb and Mix were given back their
notes, and delivered up their stock. Whether they
took any earnings do not know.
"But there was bank, with an alleged capital
of $4,000 of which $4,000 was personal notes,
which had loaned to it's chief officers and leading
directors 600 than its alleged capital of which
$4,000 was paper"
.s Now the foregoing is the story OF the inside
management of the International Bank, as told by
Mr. John Tener one of the three directors who got
out from under at the beginning of of policy
which within little more than year two wrecked
the bank and caused losses of many thousands of dol
lars to depositors. Had Mr. Tener, Mr.. Ttcomb and
Captain Mix done their full duty as directors they
would have exposed the transaction with the Inter-
national Trust Company, entered suit for receiver
and they might have recovered the $4,000 saving
all the other heavy losses that were made known
when the international Bank did collapse.
E. Titcomb Captain Mix and Mr.. Tener were
DIRECTORS in the International Bank of Nogales
It was their business to DIRECT the affairs of the
bank, not to get out from under when they found
them going wrong It was their business to do some
Knocking. The "pssyfootng" they did laid open the
bank to wreck and gave Nogales black eye that
has not been forgotten yet. 1t is understood that
Mr.. Titcomb is director in the First National
Bank of Nogales.
There are other F'The Oasis can recall
where knocking" was what was needing in No
gales. Probably some of them may be ventilated in