CUBAN BONDS
CHASE BANK’S TRANSACTIONS.
DEBTS UNDER-ESTIMATED.
(United Press Assn.—Telegraph Copyright.) Washington, October 26. Further investigation concerning the Chase National Bank to-day resulted in the committee’s suppression of evidence contained in a letter regarding the Cuban transactions for fear that the publication of the information “might lead to violence in Cuba.” The committee decided to consider the data at a secret session. The letter, written by Chase officials in 1930 five months after the banks had sold 40,000,000 dollars of Cuban bonds to the American public, said: “Various members of the Cuban Cabinet have a big graft in the waterworks construction. The letter also stated: “The American Ambassador is putting up stiff opposition to any further waste of money,” and recommended no further advances unless the bankers could control the public works expenditure. Evidence was introduced that the bank, in offering Cuban bonds to the public in 1930 and in listing Cuban debts, under-estimated them by 40,000,000 dollars owed by Cuba to the bank.
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https://paperspast.natlib.govt.nz/newspapers/ST19331028.2.45
Bibliographic details
Southland Times, Issue 22158, 28 October 1933, Page 5
Word Count
164CUBAN BONDS Southland Times, Issue 22158, 28 October 1933, Page 5
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