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Tounds netion and how loan of a from $5,000 the grew Fancher $53,000 loaned 17, to 1918, soit for printing on July amount licitor than three times the bank. to more the capital stock of entertained the of First National also on a The Fanchers, and a footnote letter the signed by J. M. Raynolds to Louie dated Feb. 4, 1919, says: "Fancher called today. I him told we would not handle bonds him longer if he gave us good and a 50 per cent bonus." The inevstigators who raked their over the system's remains, conclude report with: call your attention to the "We of correspondence submitted payfile with this report on bills the able" for the reason that contincorrespondence shows a L. M. effort on the part of from Raynolds uous to borrow money ways, various sources in various unsucmuch of which effort was clearcessful. It also shows very still that many of the notes used unpaid ly Dec. 11, 1920 were Natcollateral at the First have ional as at Albuquerque. We that to the conclusion come are several undeveloped the there of funds coming into and sources possession of L. M. Raynolds undevelopthere are several reflected that causes for payments of the . ed the withdrawal side Raynolds." personal in account of L. M. i Judging from the mass of evidence court is ready for the superior is not a that federal court it and the of the system condescend- Arizona-as question do business in withdrawthey ing to have threatened to entire system question of the and rebut a forced into liquidation circles tirement being from the banking of the southwest. useful are among the most prop Banks of civilization when agencies and honorably conducted. erly them the surplus money waters of Into is collected as reservoir, to flow out and into a community into all com- rechannels a of commerce of a the the business needs It is lieve in every direction. 16% whom to munity the interest of the people that they as possible. to shall such be institutions made as safe serve and efficient efattained In order that this state and of preficiency may fullest be scope consonant served the must be granted men to the with of trained of such skill the management safety and energy efficiency funds. in exercise of this failBy the must be preserved from by disbanks ure, and the looting of same honest bankers. regreat public confidence federal laws The in our state and instiguidance of financial for must not be of tutions posed the destroyed. must Holthis end the citizens Arizona i To and Northern who have brook to it that the culprits and years for <months county fleece connived see individuals, the driven® from and to state held to answer the criminal the ground are but not peculations. only for conniving have a hard their$ The going clique to in Albu with querque are their. account time to square federal courts-and state National will court time convincing a of a awful deserving the the First and is the have charter con- that an the system regulating the National banks of but convincing under ilent duct laws wrecking testimony when the the of they played in record. Holbrook he part State is put on returned John from R. Hulet, Albuquerque he the was receiver, in Wednes- consultday night, where home office and from with the he gave the impresthe First National but come before May. eventually ation sion his conversation that through- would it probably be avoidwould This not constant stalling and