PUBLIC DUPED.
BANK REVELATIONS.
Disclosures at American Senate
Inquiry.
BIG LOANS TO CUBA.
(United P.A.—Electric Telegraph—Copyright)
(Received 12.30 p.m.) • WASHINGTON, October 25. Continuing the investigation into the affairs of the Chase Bank, the Senate Committee to-day disclosed that the bank was faced with financial difficulties in Cuba in 1930 and sold 40,000,000 dollars in bonds to the public to retire the island's obligations to the Chase Bank. It was also revealed that Chase, in retiring 50,000,000 dollars of Cuban certificates, paid off bankers, who held 30,000,000, before the public, which held the remainder, although the formers' holdings had later maturity dates. Mr. Wiggin, because of public criticism, to-day voluntarily terminated his contract with, the bank, which had granted him an allowance of 100,000 dollars per annum for life.
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Bibliographic details
Auckland Star, Volume LXIV, Issue 253, 26 October 1933, Page 7
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128PUBLIC DUPED. Auckland Star, Volume LXIV, Issue 253, 26 October 1933, Page 7
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