1926-08-04 — Page 11

WEDNESDAY, AUGUST 4, 1926.

الله یار

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PHILIPPINE SUGAR.

CHARGES OF FAVOURITISM OF

BANK OFFICIALS.

APPEAL FOR LEGISLATION.

:

Fresh charges of irregularities In the operations of the Philippines National Bank among the sugar centrals and planters in Occidental Negros to-day are being brought

to the attention of members of the Philippine legislature. Jose B. Gamboa, sugar planter, attached to the Ma-no Sugar Central Sompany Hacienda Sta. Cecilia) 17 [3 memorial with a statement of 'con- ditions in Negros addressed to members of the legislature makos the charges and demands thorough investigation, publicity, adequate reforms, and punishment of the guilty.

Among the charges made in the memorial to the legislature are al- leged ingrant favouritism of hank officials in the granting of loans to planters, reckless disregard of the most elementary rules of banking. granting of loana 200 per cent in excess of the value of the gunrun ties.offered for such loans, partial Econdonating of interest on loans of favored debtors and steady piling up of debta oven among insolvent planters. An alleged plan to place the sugar plantations directly under ibe bank's sugar centräls agency is also denounced.

"If the list of debtors to the Philippine National Bank were į made public together with the exact jamount of their obligations as well as the real assessment, of their guaranties, what indignation would be aroused among the millions of eititres of the Philippines!" says Mr. Gambon, "Once that is known. the bitter realiay of the bank sisua- İtion would ignite popular fury and

shake us with trror,"

Call for Publicity.

Mr. Gambon believes that pablietty is the only adequate safe- | guard of public interests in the bank and advocates" that a system of prizes he adopted to bare sharp practices and irregularities among bank offer.Is. He proposes that eash prizes be given to whoever ean detect criminal conduct among officials on employes of the bank."

1 understand."

says. Mr. Gambou, that with these revela- thons I press my thumb on a painful social cancer, but at the same time I realise that above the little guds of the bank and their favoured vassals. He the common good and the general interests of the coun- try,

THE CHINA MAIL.

"I also understand that these re- velations will cause much ill-feeling towards me even among my own friends. but inasmuch as we call ourselves patriots, we might as well beyin by purifying our own selves, ard our institutions, the defects of which have been an insurmountable, stumbling black te independence. and thus accomplish at home what we have spent so much to obtain abroad through missions and other restly arrangements,"

The director of crop loans, Miguel Corvistano, and the manager of the bank. Woncesino Trinidad, wash their hands of the situation a Negros and refuse to accept res- ponsibility by alleging that they are fied by administrative rod tape and tied by administrative red tape and that they do not possess adequate authority, saya Mr. Gambor.

Shift Responsibility,"

directors of the bank, he adds, main- On the other hand the board of tains the doctrine that it approves or disapprovs loans in accordance with recommendations, likening itself to the former m

thereby perors of China who governed a vast territory, without knowing ita limits except through hearsay from. matidarins.

A promluent local financier, speaking of the Inancial condition of many debtors of the Philippine National Bank, said that the only' way to arrange difficulties between the bank and the sugar men in Negros is for the bank to strikenod its list of debtors those wans obligations can no longer be met in view of their excessive amounts. He said that the majority of the bank debtors are so burdened with obligations that it will be impo-- Some of those who call themselves sible for them to pay their debts. planters, the financier in question

in the game added, are

for the simple purpose of obtaining crop loans from the bank. "National News Service,"

Mr. Gamboa charges that to be SCHOOL OF HYGIENE.

CARRYING ON THE MANSON TRADITION.

Tronical Medicine, of which

The new Selool of Hygiene and the foundation stonew was laid on July 7 in London. Is a university in-

solvent in Negres means ineligi bility for any credit by the bank.) that the greater the obligation's the better are chances, of further in- creasing them, and that the re- quirements of the low regarding guarantles to loans are not com- plied with, and being Kroated although in excess of the value of mortgaged property, and to fortitution raised for the definite eigners win Negros who neither purpose

equiping skilled bave property nor legitimate basi-workers in both investigation and

He also charges

application of the ways and means thas although it is an open secret among

of "preventive medicine." It is a Negros planters that a new un-place of research as well as of authorized overdraft has been in. instruction, capitalised by Ameri, curred, if is so carefully hidden can benefaction, maintained by that it is simply impossible for the auditors to detect or discover ft.

if

Trinidad Awaits.

í

student fees and Parliamentary grant, and open to all nations. The appointment of Dr. Andrew Balfour as director, is a guarantee of thoroughness and, wide under- When seen yesterday. Manager standing. The old School of Tro Trindad said that, he also received picut Medicine has already been a copy of the, memorial sent to the taken over, and last year had a members of the Philippine degisla-record number of student's passing care. He explained however, that through its laboratories, where a he had not read the article cure-groop of keen workers carry on fully but that a rapid glance prer the Manson tradition. Is was at the seemed to indicate that the instance of the late Sir Patrick charges were mera generalities. Manson that the School of, Trobicul Hoilo, July 29, Medicine, was founded in 1890) A new plan which will complete- The University of London, to which ly change the situation of the the few institution is utilated, has Negros sugar planters if adeptaci | already appointed professors for is now being studied by them. The two of the „principal'chairs, and new plan consists in placing the with in due course uppias heade of Sugar Centrals' Agency of the other divisions, Philippine National Bank in "ful Control of the centrals financer by the bank. Shout this plan be! adopted the bark will be converted | into a rarely commercial institu tion. It understood than Manager Trinidad, of the bank will favour the plan.

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