Vexed last week was upright Winthrop Williams Aldrich, brother-in-law of John D. Rockefeller Jr. and president of Chase National Bank (world's largest). And with good cause. Banker Aldrich had read in TIME, May 15: ". . . Of Chase's $30,000,000 first loan [to Cuba], $2,000,000 went into commissions—$500,000 to 'Wood Louse' Obregon" (Jose Emilio Obregon, son-in-law of Cuba's President Machado).
TIME erred badly, and herewith gladly sets the record straight. As brought out convincingly before a committee of the U. S. Senate in January 1932 by the Chase Bank's Vice President Carl J. Schmidlapp,...
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