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132 Mr. Rempe. Various traveling, telephone, and sundry expenses.

The Chairman. Do you know where he went or anything indicating that information?

Mr. Rempe. No. sir; not of my own knowledge.

The Chairman. That represents $153,665.86 paid by Mr. Clark from one account to another or by Mr. Christmas to Mr. MacGuire, does it not, or to the Committee on the Sound Dollar and Sound Currency?

Mr. Rempe. I presume that is correct.

The Chairman. Well, now, you say you "presume." On Sep tember 14, $25,000 was paid to MacGuire, was it not?

Mr. Rempe. Yes, sir.

The Chairman. On September 18 there is the $20,000 item Mr. Christmas will have to explain?

Mr. Rempe. Yes, sir.

The Chairman. On September 27 he will have to explain who he paid that to?

Mr. Rempe. That is the basis of my presumption.

The Chairman. On September 20, $50,000. You know nothing about who that went to?

Mr. Rempe. You have the letter of credit.

The Chairman. Here is a letter of credit of October 9. Read that letter of credit.

Mr. Rempe (reading): To correspondents of the Chase National Bank of the City of New York and American Express Co.

Gentlemen: We beg to introduce to you Albert G. Christmas whom we hereby authorize to draw on sight on the American Express Co., New York, to an aggregate amount of $60,000. The American Express Co. engages that such 30, 1933. Each draft must bear the number of this letter o of credit and be signed in your presence and the signature compared with the one below. The amount of each draft must be endorsed on the letter of credit. Any negotiation of a draft drawn againstethis letter will be considered a guaranty to the Americas Express Co, that that you have complied with these requirements.

Yours very respectfully, American Express Co.

The Chairman How much was drawn?

Mr. Rempe. It bears several signatures.

The Chairman. Who are they?

Mr. Rempe. The signatures of the American Express Co., the Chase National Bank, and Albert G. Christn as.

The Chairman. No other signatures?

Mr. Rempe. Just four signatures in all.

The Chairman. Who is the other one?

Mr. Rempe. One is the assistant treasurer of the American Express Co. One signature is that of Albert G. Christmas, and the others are for official purposes.

Against the letter of credit of $60,000 there was a draft drawn on October 4, 1933, for $0,000.

The Chairman. That is the photostatic copy of the draft?

Mr. Rempe That is the photostatic copy of the draft. The Chairman. That is offered in evidence.

(The document referred to is as follows:)

$6,000.00

Chicago, Illinois, Oct. 4, 1935.

Pay to the order of Continental Illinois National Bank and Trust Com- pany of Chicago, Six Thousand and No/100 Dollars.

Under letter of credit The Chase National Bank, New York, New York. To American Express Company, New York, New York. No. 98,750 Date 9/29/33

Albert G. Christmas. [Endorsements on back]

Received with Exchange, Oct. 6, 1933, from The Chase National Bank, N. Y., Am. Ex. Co. Ci'gs. Divn. Pald through Chicago Clearing House Oct. 5, '33 P. M., to the Continental Illinois National Bank and Trust Company of Chicago. Pay to the order of any bank or banker. Prior endorsements guaranteed Continental Illinois Bank Chicago Company, Continental Illinois National Bank and Trust Company of Chicago,

Received payment through New York Clearing House prior endorsements guaranteed, Oct. 6, 1933, The National City Bank of New York, N. C. Lenfestey, Cashier.

The Chairman. This draft is payable to whom?

Mr. Rempe. Payable to the Continental Illinois National Bank & Trust Co. of Chicago.

The Chairman. And drawn by Mr. Christmas against the letter of credit?

Mr. Rempe. That is right. On October 5 a draft for $30,000.

The Chairman. Is that a photostatic copy of it?

Mr. Rempe. That is; yes, sir.

The Chairman. That is offered in evidence. (The document referred to is as follows:)

$30,000.00

Chicago, Illinois, Oct. 5, 1933. Pay to the order of Continental Illinois National Bank and Trust Com- pany of Chicago Thirty Thousand & No/100 Dollars.

Under letter of credit The Chase National Bank, New York, New York.

(No. 98,750 Date 9/29/33

To American Express Company, New York, New York

Albert G. Christmas.

[Endorsements on back]

Paid through Chicago Clearing House Oct. 6, 33, P. M. to the Continental Illinois National Bank and Trust Company of Chicago. Pay to the order of any bank or banker prior endorsements guaranteed Continental Illinois Bank & Trust Company, Continental Illinois National Bank and Trust Company of Chicago.

Received with exchange Oct. 7, 1933 from The Chase National Bank, N. Y. Am. Ex. Co. Cl'gs. Div'n.

Received payment through New York Clearing House prior endorsements guaranteed Oct. 7, 1933, The National City Bank of New York, N. C. Lenfestoy, Cashier.

The Chairman. That is drawn by Mr. Christmas on the letter of credit?

Mr. Rempe. That is right; to the Continental Illinois National Bank & Trust Co.

The Chairman. Proceed.

Mr. Rempe. On October 10, 1933, the balance of the letter of credit was liquidated.

The Chairman. How much was that?