Salt Lake Telegram | 1933-10-19 | Page 3 | Bank Inquiry Limit Sought

BANK INQUIRY LIMIT SOUGHT Move Made to Prevent Probe of Chase Loans to Cuba Copyright 1933 by United Press WASHINGTON Oct 19 A 19 A dr drive ve veto to prevent senate stock market Investigation investigation hives hives- of certain Chase National bank loans to Cuba on the ground round that revelations might incite riot in inthe inthe inthe the Island republic was underway to day the United Press was reliably informed It was understood that persons connected connected connected con con- with wilh the Chase organization urged that phase of the current inquiry in hI- be abandoned Among Chase foreign loans were I for construction of the of Havana and for forthe forthe forthe the central Cuban hi highway hway Both loans are in technical default Chairman Fletcher of the investigating investigating gating committee and md Senator Co zeris CR R. R Mich are urging that the lie inquiry proceed We haven't decided what we are arc going loins to do Fletcher FIetcher said but I think hink the inquiry should be Ee made WASHINGTON Oct 9 P C Albert p-Albert Albert H. H Wiggin Wiggin- former chairman m of the Chase National Chase National bank told senate investigators investigators in in- today his hi family was buying buy bu- ing lag the bank stock during operations in it by bya a pool in 1928 Questioned closely closely Wiggin Wiggin said his family a acquired 1100 shares while a pool managed by Chase officials made madea a profit of ot from buying and selling shares He first said the pool was formed to stabilize the market in the stock but modified this later to assert it was to give wider distribution 10 to the thc stock The market price of or the stock rose about points during the pools pool's operations operations operations op op- op- op he testified U