Salt Lake Tribune | 1912-08-31 | Page 3 | Secretary of Loan Concern Arrested

SECRETARY OF LOAN CONCERN ARRESTED SAN FRANCISCO, Aug. B0 William Corbln, secretary of ihe Continental and Building Loan association, dissolution of which Is now sought iti the courts, was arrested today on a warrant charging falsification of accounts George S. Walker, Mate building an.-i loan commissioner, commis-sioner, swore to the warrant Corblnt after being booked al the city prison, was relented on a 1500 rash bond Commissioner Walker based his nc-cuKatlon nc-cuKatlon on two Items aggregating 000 which, he said, stood as liabilities, but were not entered on the books of the, associa tlon Gavin McNab. attorney for the Continental Conti-nental declared in a statement that neither of the Items constituted a legal liability and that Ihe question Involved wns merelj one of theoretical bookkeeping. bookkeep-ing. The liabilities of ihe association, as Stated by Walker, total $?.lR.onn, and he asserts that there are not sufficient as-sel as-sel ' to protect the stockholders, most of whom are, persons of small means.