library REPORTED FINANCIAL CRISIS IN CUBA THE WORKMAN READ THE WORKMAN WEEK BY WEEK AND LEARN ALL THE IMPORTANT HAPPENINGS IN YOUR WEST INDIAN HOME PUBLISHED EVERY SATURDAY VOL. No. 12.
PANAMA SATURDAY, OCTOBER 23, 1920.
PRICE Cts. President Proclaims Moratorium IN ENGLAND PERMITTING BANKS TO PART PAYMENTS MAKE PANAMA habang tulog stolowing telegram New York Banker Says no Cause for Alarm over Situation to affection evinced of Music, barrister law the more so which be given of valugala cial capacity were THE PRINCE DELEGATES King Thanks Colonies for To League of Nations Treatment Given Him.
Convention London, October 12. The Honorables Narciso Garay and Harmodio Arias, have been to Governors of the appointed delegates to represent and States visited by the Prince the interests of this republic at of Wales in his recent Austra.
TWO MILLION DOLLARS SENT BY NATIONAL CITY BANK OF NEW the League of Nations Conven dian tour: On the return home of the Prince of Wales, ask tion which will in. you to my representatives YORK TO RELIEVE THE CRISIS Switzerland, on the 15th, of next month. Honourable Gart in and peoples of the Dominions and Colonies he visited, my heart Owing to the great unrest in taxations trom the province or branches may pay depositors on felt very optimistic about the Waldes cabines But is more popuse ter of felt appreciation of the Foreign Minislocal circles over the Cuban si. municipality, in the names of the the same scale.
nancial situation, looking forward Jarico and loyal en towards him through tuation we take the opportunity respective collectors of customs, The Banco Internacional sustoa rapid return to normal times, National Con highly repated known as the Director of the out his travels. These warmof presenting our readers the fiscal zones and other author. pended payment Saturday, and a assored by the Presiảent wise Dr.
hearted and spontaneous mani. true situation as culled from lat. ities concerned thereby.
run was made on the Banco Es. measures. He said a papers which of regard for our eld. est copies of Ouban pa est son have deeply touched the came to hand during the receber the Said checks will be eashed by Dafiol by depositors. The fact that vaults are full and have at the ba: Arias 18 a The sudden Queen and myself.
of their issuance their doors yesterday was re The Banco del Collgations: Canal is do Zone. Both these gentlesitua.
sugar created an We have followed with pride tion among depositors of current the right to waive this conces. for an early recovery of the whole basis, and does not intend to the guests of honour at a dinner The government reserves men pon. Blomes to with Late Presidere Ex and admiration the triumhant accounts and creditors who rush. sion should public convenience financial system.
success of his mission, and all ed the demand for their funds so demand.
change its attitude. It will disre given at the American Legation when we recognize believing that their interest Crowd at Banco Nacional.
gard the moratorium. The situa last Saturday evening by the that these. happy results are Commenting on the above The tion at this bank was normal.
Although a great crowd th rong: New York Bankers Optimistic Minister.
Honble. Wm. Price, American chiedy due to his own personality: were endangered. This cau to the bouyant and jovial spirit in the managers and directors of Harana Post of the 12th insed the head office as well the he has played his part, to banks to call on the Presidency says:Banks opening in Havana yes city branches of the Banco Na from the his of duty, and to un to explain extraordinary and Stil ting esannet in which he has critica deituation in which they tendenza Were con route de milion the contained from a perfect randor Wall Street Bureau of the Ham. Gala Day at Isthmian Park In accordance na. York Oct. 18 previous tour have given him on current accounts amounting President Menocal decree for bank was opened to the public to day of New York bankers, asment of this Meeca athletes his and found themselves deposits oncial Gazette publication of was man with the presidential deeree, the states that at several meetings It is planrned by the manage.
special opportunities to gain actual capital her with an aty day moratorium. Crowds as and started to pay funds at 9am. sembled to discuss the Cuban 3nd pleasure seekers to place the to over 100, 000, 000 knowledge of our overseas Domi by. but represented. stocks, disorder was reported, and conti official time, and will continue its financial crisis, an unmistakable 3rd of November next on record nions and Colonies, and to be ables. sugars properties and ere: dence in the ability of the finan: payments every day until p spirit of opt of optimism prevailed. Rembone personally acquainted with alle noen ting 1, 000, 000, 000 viloped a more deposituationering asof win be closed for Business Prested expresied eextaence in several cycle racely in which excepting Saturdays when the presentatives of bank as being a real day. There be Athletic events, including their May such intercourse create of those institutions and their the day.
depositors during at the hour esablished by the the ability of the haland republier und nt le poida ematele on belong fresh ties of confidence and devotiva: banking Government through to guarantee There was considerable confu will be paid in full.
it that three fore.
tion between the Throne and the depositors, sion among the bankers when it and resources, to come with fly. most walkers of Colon, among generations present and future Having satisfied himselt that was learned that some banks visited by some who, during the state of affairs.
The National City Bank was ink colors through the present whom is the redoubtable chamof these great lands, and thus well were taking advantage pion Long Johny, will be there promote the unity, strength and these statements Founded President en seal nie protection offered the forest whole morning, receiveing the in.
Some bankers at the meetings to outwalk dny biped on the prosperity of the Empire.
To my son this wide and hap. cabinet meeting held in extraordent decree, while others were deposits. The bank paid out 100 even predicted that Cuba will Pacific side no matter what the dinary session resolved. continuing to pay every cent de per cent cash, thus rejecting the now be far better on, once the color of hide.
py, experience will ever be a Then for those financial situation is cleared and who favor the picnic part of the priceless possession, drafts, notes, obligations, ordersbanks which were willing to pay The Trust Company of Cuba business is back again on a nor program, which is in itself a That letters of exchange, manded by depositors. Even the moratorium.
and other credit documents due depositors, however, did not ac met all obligations. Only a few mal basis.
remarkable feature being an Panama Loses Another of or that may be due up to the copt checks on banks which were persons visited this institution Mr. Farnham is Confident all day, affair, apart from the care devoted to the refreshment Her Beloved Sons first of December next, will not paying only 10 and 12 per cent, during the day. The ofticials did as allowed by the proclamation. sions offered in the President of the National City Bank, which whose repertoire contains jazzes, not take advantage of the provi Farnham, vice presidert section a band has been secured be paid until that date. Mortgage credits, trans Hotels Cs: No Checks, decree, Panamanian aristocracy was has several branches in Cuba, calculated to tickle the appetite again plunged into mourning last ferable or simply deed binding, Hotel clerks in Havana had or Canada Bank Normal.
stated to a representative of The of the most fastidioas jazzer.
Wednesday night, October 20th, due and that may be due within ders yesterday not to cash checks through the somewhat sudden the term referred to in above even ior guests. If these orders the Royal Bank of Canada, where situation.
Normal conditions prevail at cause for alarm in the Cuban Serious Auto Accident.
Havana Post to day: There is no Florencio death of Mr.
ArosemeThe paragraph will not be paid and Icaza, for several years Greek are extended until the first of remain in force large numbers of payments are being made in full, rence there is the best thing that Consul in this city and third in next December, transient visitors in the city ex new accounts and all other bank coula have happened for the to be unable to meet What turned out to be a fatal ing businesss accepted and trans good of the island. This crisis accident occured in front of the command of the city Fire The auctions specified in bills bills until they can get ade. Mr. Arosemena, though court or administrative proceed. It stated at the desk in the usual crowd assembled.
acted in the usual way. No un simply means that boarding of Workman not confined to bed, has been ings are hereby suspended and Hotel Sevilla man Printery last Tuesday that no checks Gelats Co bank did sugar and extravagant specula night, when Bernardo do complaining for some time past may be fixed after the first of be cashed on Cuban banks, busition have og love streets up to December next, until after which and only for small amounts on made St 100 pepe venen tande no good old system whereby the Balley, West Indiaa. and in to an end.
and was on Cyril Panamanian, was knocked as usual. Payments were o clock on evening of the date neither auctions nor compul fatal attack.
Ayew York banks. At the Plaza mention was heard of the mora mills market their sugar as soon sory sale of any kind can be were riding at the time. It hap.
which four United sallors On Thursday morning the body made.
at all. At both hotels the decree measure did not concern his firm. They will receive their money in pened that the street car going was removed from his home on Within the term stated, of a moratorium was given as the No crowd was at the bank, and cash and will pay colonies in cash. up the Avenue in the direction of Fourth Street to the Yellow from the date this decree is is reason for the order.
Room of the National Palnce sued, depositors with banks or no unusual amounts were drawn Money will thus be Banco Internacional Open.
where it lay in state during the bankers in the republic can draw the whole population benefit of a stop opposite the Workman eral circulation for the In to get the railroad station had come to day guardeilby officers and mem. only 10 At the main office of the Banco Business was conducted as Printery when Urėnaga, stepped counts of tho and 12 per cent on savings Internacional a large crowd usual at the Bank of Nova Scotia. know people on every part behind it to cross over to the sidewas take Bade. At pm. it below 2, 000; unless gathered yesterday morning, and This institution disregarded the of the island have ridden walk on the east side of the church and thence to the Ama the commission appointed as per a smaller crowd assembled before President decrea and paid to the back eromange end of Cuba street. At the same time the. will of branches in checks full times and procession was led off by a de grant extension of that percent. The tebackorder to the prevision American Mercant 1Bank Pays garden spot of the world. Thére then abreast of the street car know that that happy land is the wards the Santa Ana Park was jitney which was travelting to in with statements according headed by the Republican band. of accounts.
of the decree. opened At the American Mercantile is no need to worry now about and on the side where neither Then followed a full turnout of This moratorium does not promptly at a. and the de. Bank a small crowd received paynor Washington Is Watching the firemen with their band, be affect the obligations of the Na positors in the lines created no ments made in accordance with hind whom was the big fire tional Bank of Cuba as fiscal disorder. It was stated that the the President deeree without engine the carrying foresee a peaceful and just bewinde eles ehreman stepped from casket agent and depositary of govern bank had sufficient funds on protest or Covered over with beautiful ment funds, as per contracts, hand to meet the demands, and of the allt objections on the part election. It will be conducted it was eatirely too late to bring the street car and wreaths.
Behind in the usual manner by the peace and quiet of Upmaan tlon to every development in poceiving a fracture of the skull.
persons disturbed the the chief mour ton is. knocked and matic Corpebers, the Diplo Lottery Department.
friends of the commission composed of whole system of 105 branches of Co bank, where 100 per cent litical and economic affairs. TheThe policeman on duty in deceased, members o!
of the Greek the Secretaries of was paid out on all checks. In: United States is watching Cuba, of the Interior, the Banco Internacional.
carrying their flag and Finance, Agriculture, Commerce Before the Banco Español there tortion was volunteered to notwithstanding reports to the tion of the Avenue on arriv the boys of the orphanage. Mr. Labor large crowd yesterday that Mr.
Arosemena leaves two brothers, inspese have charge of was The police were active. worrylog inasmnch as there had contrary.
Upmann was not ing at the scene immediately and supervision of placed the cha ateur under arrest of morning.
three sisters and a host of banks the Payments were made by this bannot been a single of sccounts, the representative of The Havana little time the removal of the un application rec: Other bankers stated to day to but, it is stated, delayed for some friends to mourn thier loss. and fulfillment of this Sexecuperlin in accordance with the provisions elved for the closing and will, to that offect, practice of the President decree. Deposi The Banco Nacional Summoned Meeting Comer Post that there is plenty of money conscious man to the hospital.
table measures, undertaling tors departing from the bank cio started its payments at Dam. here to finance fully the new On arriving there, the doctor proA General Summoned Meeting examination of values, of depo seemed to be confident that they totally dlaregarding the 10 and 13 crop of cane. Men Influential in nounced his case as serious and of the Loyal Nelson Lodge No. sits, inventory of sales and real would eventuale e sure their per che vice presi nion that the moratorium does cavery. He died on the following by the Presi financial circles are of the opl. expressed little hope for his re.
19, will be held at ization of the current accounts.
it was stated that the dent. Mr.
their Lodge Room on Wednesday Creditors of current ac, freserve funds of the institution dent, said that the bank intended not bring all progress to a halt, ulguis.
the wath, Inst. at 40 to counts my draw against their would protect depositors. Distrie to offer its clients every postīble eyen temporarily. They expect confirm thelr revised Bye Lawa. accounts the necessary sums for bution of funds has been made facility for carrying on business the leading business men in All Roads Loud to Juan Franco Members are requested to be the payment of customs duties, from the head of this, the widest sa noual, and that they had sutitaxes, fiscal revenues and other of Cuban banks, so that all clent funds on hand to do so. He punetaal in attendance. Continued on Page Park Tomorrow, recent occur.
nila pect their Bri cash.
would come to an the States out.
10 per cent on on current ac Windows the topared ange each other. Just driver Colony to the effect and de suitable money, and 00