This is an administrative case against Mr. Zoilo Tolentino, Provincial Treasurer of Surigao, for various irregularities committed by him as Agent of the Philippine National Bank Agency at Ilocos Norte.

From the investigation conducted, the Department of Finance has found, as proven beyond question, that the respondent in this case is guilty of the following charges:

(1) That he granted twelve loans of P500 each to twelve different borrowers, knowing that they were all for one person, in violation of the rules and regulations of the Philippine National Bank Agency limiting the loan that may be granted to one individual borrower to P500 and that he granted the twelve loans through an intermediary, contrary also to the rules and regulations of the bank;

(2) That, contrary to established banking practice and the regular practice followed by Government offices in similar matter, he ordered the delivery of notices of maturity of the loans in question to the said person, instead of one to each individual borrower;

(3) That he violated the regulation of the Bank specifically requiring the registration of a mortgage before, not after, the release of the loan or loans for which it is offered as security;

(4) That he violated the regulations of the Bank requiring the payment of at least 30 per cent of any loan before any application for renewal or extension is approved; and

(5) That he granted loans to new borrowers to pay and replace the loans of old borrowers, contrary to law and to the regulation of the Bank requiring that the proceeds of the loan shall be used only for the purposes stated in the application.

In view of the foregoing and of the several previous administrative cases against the respondent for which he had been found guilty and accordingly punished, and considering that in the recent examination of his cash accountability as Provincial Treasurer of Surigao he has been found short in the total amount of P92,000, thereby proving himself an unsafe risk to the Government and unfit to continue in office calling for the assumption of heavy financial responsibilities, upon the recommendation of the Secretary of Finance, Mr. Zoilo Tolentino is hereby removed from the office of the Provincial Treasurer of Surigao in the interest of the public service.

Done at the City of Manila, this 2nd day of March, in the year of Our Lord, nineteen hundred and thirty-eight, and of the Commonwealth of the Philippines, the third.