Salt Lake Telegram | 1934-04-06 | Page 26 | Directors to Name Kruse's Successor

DIRECTORS TO NAME KRUSE'S SUCCESSOR I I Rainey Mentioned for Western Western West West- em ern States Life Job SACRAMENTO Cal Cal April Apri 6 W Directors of the Western California States State Ute Life Insurance company arc are to meet here April Apri 13 to pick a successor sor sr to J. J Ro Roy Boy Kruse Krue president who resigned Thursday Ed Edvard Edard G. G Rainey Reiney state superintendent superintendent of or bonks banks bk the directors admitted ad Is to I being beIn considered for 1 Kres Kruse's p position sJon They declared however how ever other possibilities were before tem them Early Earl today the name of or Ray L. L Riley state stale controller elsa elso eLo was wa mentioned Stockholders will wU meet April 19 to topa pass pa on OR the te reduction of or capital stock from to as a was wa Insisted on by insurance commissioners commission ers era of the 11 1 wc western er states in which the company operates The cut in capital stock stok will wi go to bolster the surplus and d contingency funds fund Par value of or the stock will wi be reduced from 10 to 5 Kruse Krue end ond six si other officers of or the company resigned reIgned after insurance commissioners hod ld met with wih them in ina a protracted meeting The Te commissioners commis comm in a statement said raid they had hd halted en audit of the company's books book and would resume reume it April AprI 30 or after changes change had been made mode within the company