| Show Takes es Control J i i'S S 5 I c 1 4 c cLa La N John JohnA A. A Malta Mafia Utah state bank bonk commissioner com corn missioner who has hu taken control of the he National Building and Loan Association Asso- Asso elation lation of Ame America pending the work work- Irig- Irig ng out of possible plans of Commissioner Malta also Is serving erring a. a M as centralized conservator of the he Western Loan and Building com corn pany any Institution for the building and loan supervising officials of Rocky mountain and Pacific states pending approval l of a reorganization plan Ian STATE TAKES LOAN CONCERN Reorganization Plans Flans for Nati National Na Na- ti n Company Company Are Are Are I Considered I Reorganization of the National Building and nd Loan Association of America which has been taken over overby over overby overby by John A. A Malia Malta Utah state bank commissioner is dependent on ability of th the directors to rehabilitate the associations association's as- as capital structure impairment impair impair- ment ot which to the extent of of 57 22 resulted in placing the a affairs of oC the concern In charge of the banking bank bank- ing department Ing This announcement was made on Wednesday y by Commissioner Malia Malta who d declared that directors of the association and representatives of the he banking ng department ent hope to reach an agreement during the week on plans for reorganization which will provide satisfactory rehabilitation of the he association as a going concern I IThe ASSETS LIABILITIES The associations association's assets and I ties tics as of July 15 were while n net t liabilities to approximately I 2400 investment stockholders totaled I Utah stockholders number num- num ber ber jer 1700 with residing in Wyo Wyo- ming WYO-I WYO j J. J M. M Knapp of the state banking department has been placed in m charge of the affairs of the association and Sam D. D Thurman Salt Lake has been appointed his attorney by Mr Malia Malta Action of the state banking department department department depart depart- ment was taken at the request of the association directorate Mr Malia explained In l letters to stockholders the Depreciation of the value of property held by the association or on which it t had bad made loans was blamed for forthe forthe forthe the impairment of capital ACTION REQUESTED All Au payments received since September Sep 23 on investment stock are beng be be- ng jog held in Jn a separate trust fund Inthe In inthe he the the event of liquidation this money will be returned d to t the tte e stockholders l M Meanwhile Commissioner Malia Malla warned stockholders against trading assigning or discounting Investment cert certificates to brokers at low prices An efficient organization will vill be maintained to take care of ot properties collections rentals and aDd other matters he ie said By enforcing a strict collection Continued on OD P Pare Pau e Two o Ii i I STEPS FOR CODE TEST ARE TAKEN i I c Utah cUtah Oil Industry Cracks Crack I. I I Down on oil Violators of I t Agreement j i i T. T Continued from rue Page One I all rules and regulations issued under unde t them Johnson Immediately ly supplemented t I the ord order r with regulations placing those who display the Blue Eagle Egle unI un un- tier the reemployment agreement on oni on oni i i 1 J I equal footing looting with those for or whom codes have been promulgated Johnsons JohnI John- John I sons rons regulations also require surrender sur sur- I t render V-render of the Blue E Eagle le upon d dI dc- dc 1 I 9 I inand i I 1 Any attempt by the administration i to invoke penalties provided in exec exec- i i C uti e orders would be taken through courts I METHOD EXPLAINED t In In such proceedings the N R A Ar r ouId have the federal d district attorney attorney k ney in the area concerned take action which would bring the violators violator's case before a grand jury The presidents president's order was wu In four tour parts The first prohibited anyone from from 1 falsely representing himself to toi tor tor i r be ie discharging the obligations or complying com corn plying with the provisions of agree asree- ments codes or rules of regulations I Y The second prohibited use of the Blue Eagle contrary to rules pre- pre scribed by Johnson jf The th third d delegated to Johnson the thel power ower to enforce the first two proM proM- I arid and take such other steps as s he may deem advisable ble and to appoint personnel and delegate thereto such powers as may be deemed t necessary M The fourth part of ot the order set setI I d orth the penalties contained in the w. w I ISSUES REGULATIONS Sit t t Under that authority Johnson Issued issued Is Is- sued ed five regulations The first pro pro- the Blue Eagle insignia the property of ot the government the second see sec ond provided for tor its display the third i i required its surrender upon demand the fourth provided that nothing I should prevent those from whom the Blue Eagle has been taken away l from rom romI I displaying or selling goods marked by others othe with the e emblem The e fifth set the penalties l The administrations administration's action was intended intended in in- tended to protect merchants from fromI I Competitors misrepresenting compU ance ance with codes code or agreements and give give the administrator the power to toc c orders I |
