GUISE ID) COW Vejve RB AIL My 13 
by said commission, according to the provisions of this act. During the period and to 
the extent of the operation of the provisions of this act, whatever is provided for in it 
shall exclude all other classes of proceedings that may modify or change its effects and 
no existing law shall be held operative in so far as inconsistent with the provisions 
of this act concerning the matters which the same embraces. 
Art. XIII. Within three months after the commission has issued its decree 
declaring the suspension of payments, the board shall submit to the commission, to 
the creditors, and to the stockholders or owners of the bank a plan of reorganization 
whenever it may be possible to pay the creditors in installments that in the aggregate 
do not exceed the period of one year and in the event that the bank shall not have 
lost an amount greater than 50 per cent. of its capital subscribed and paid. Should 
the case be otherwise, the board will decide to liquidate, as also in case neither the 
ereditors nor the owners of the capital stock accept the reorganization plan. For 
approval of this plan the votes of the stockholders or persons representing three-fourths 
of the capital and the votes of the creditors representing three-fourths of the credits 
shall be necessary, and the plan must also be approved by the commission. 
Articles XIV, XV, and XVI relate to the question of the personal responsibility 
of members of the commission and its representatives and to matters of fraud discov- 
ered and concealment of property. The chief provisions concluding the act are as 
follows: 
ArT. XVII. The provisions of this special act shall be deemed complementary 
of the other law of liquidation of the moratorium granted by the executive power on 
October 10, 1920, and, accordingly, shall be applicable only to banks, private bankers, 
and savings banks to which the same relates and to all corporations, companies, or 
persons included in the first article of this act, which may be comprehended within 
{ts provisions during the time in which the commission created by it may be functioning 
on the work devolving upon that body. 
ADDITIONAL ARTICLE. The provisions of this act do not include the funds of any 
kind belonging to the State, the Provinces, nor the municipalities, nor to other official 
organisms, or that appear in the name of special public officials for payments on their 
account, or the account of private individuals who have turned in such funds to that 
end, nor those of the International Pan-American Office for the protection of industrial 
and trade-marks. Likewise, they do not include the funds donated in any manner 
for the advancement of learning and for prizes to students. 
[The unpublished portion of the law can be examined at the Bureau of Foreign 
and Domestic Commerce by referring to file No, 22752.] 
DIPLOMATIC APPOINTMENTS 
Senor Augusto Merchan, the Consul of 
Cuba in London, has been appointed 
chargé Waffaires at Quito, Ecuador. 
Dr. Carlos Manuel de Cespedes, Cuban 
minister to the United States, has been 
appointed minister to Argentina. 
NEW POSTAL RATES 
The director general of communications, 
Havana, has addressed a circular to post- 
masters throughout the Island, calling 
their attention to the fact that under the 
hew postal convention between Cuba and 
Spain, Philippines and the republic of 
America, the rate on second-class mail is 
one cent per pound or fraction of a pound, 
when dispatched by publishers or their 
agents, and one cent for every four ounces 
or fraction thereof when dispatched by 
others. 
INAUGURATION OF GOVERNOR OF 
HAVANA PROVINCE 
Major Alberto Barreras, for the second 
time in his career, took the oath of office 
as governor of Havana province on Feb- 
ruary 25th. Mayors of the leading towns 
in the province attended the ceremony. 
