Salt Lake Telegram | 1933-05-26 | Page 7 | Smith Named Receiver of National Surety Co.

I Smith Named Receiver Of National Surety Go Co A petition appointing E. E A. A Smith Jr r. r state insurance commissioner an an- illary receiver of ot the National Surety Sur- Sur ety ty company to aid in rehabilitation and reorganization of the company was as approved Friday by DIstrict Judge Roger I. I I McDonough The action m Utah in-Utah Utah is similar to action ac ae tion on being taken in iii other states where the company does business it was explained The reorganization plan was launched in New York on May 1 it was explained by Arthur E. E Moreton attorney for the surety company Following his appointment M Mr mith issued a statement which read At the request of the insurance commissioner of the state of New NewYork NewYork NewYork York and pursuant to the plan propoS pro pro- poS posed d and adopted by him for the reorganization re- re organization of the National Surety I company I was appointed as ancil ancil- lary ary receiver of the National Surety company Pursuant to the approval of the Insurance commissioner of the state tate of ot New York ork a new corporation known cnown as the National Surety corporation corpo corpo- ration was organized to take over cerain cere lain ain of the business of the said National Na Na- tonal Surety company and it has assumed liability on all surety bonds of f the old company outstanding in the state tate of Utah This new ew company has been li- li censed by me to do business in the state tate of Utah and has a capital of surplus of with total otal assets of over This company to Is In a strong liquid position and nd on its board of directors are such well known men as Charles Hayden John ohn C. C McCall P. P A. A S S. Franklin Samuel amuel McRoberts and Alfred Alred E E. Smith mith