Manila, June 24.
A warrant has been issued by the Court of First Instance for the arrest of General Venancio_Conception, ex-President of the Philippine National Bank, who is charged by the fiscal authorities of the city with violation of the Banking law.
The official auditor, who laid the information, stated to-day: "I requested that charges be preferred against General Concepcion as I found that he, when President and Director of the Bank, had indirectly borrowed 750,000 pesos from it." The law, he' said, prohibited both direct and indirect borrowing from a Bank by any of its Directors, under penalty of a fine of 10,000 pesos or five years' imprisonment.
General Concepcion, who resigned his post last November, recently stated that his conscience was clear, and that he welcomed the investigation.
Later.
General Concepcion has been arrested and released on_ bail.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.