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With which is consolidated THE LIBBY TIMES and THE TROY TRIBUNE
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Libby, Lincoln County, Montana. Thursday, September?, 1933
VOLUME XXXIII
Number 14
Fight Fans
See Another
Good Program
Seven Lively Bouts Put
On by Boys From
C. 0. C. Camps.
LARGE CROWD
CHEERS FAVORITES
A çrowd of fans that filled almost to
capacity the Libby opera house was
given two hours of good entertainment
Monday night at the program of box
ing bouts in which young men from the
C. C. C. camps of Lincoln county were
the performers. Of the seven bouts in
the program, six of them were "fast and
furious" and two of them almost result
ed in knockouts.
The opening number was between
two colored lads from the Pipe Creek
Neil Gibbons and James Rob
camp,
erts, both 118 pounds. These young
blackbirds were fast with their fists
but didn't seem to have any desire to
hurt each other and their effort was
rather tame.
Second Bout Was Good
The second bout was between Elmer
Armstrong, 135 pounds, of the Troy
camp, and Jack Surrey, 133 pounds,
from Rexford. These boys were real
fighters and kept boring in thr&ugh|fät$^
the entire three rounds. Surrey had a
wicked swing that he succeeded in
landing repeatedly, but Armstrong was
strong and rugged and kept wading in
and trading stiff jolts with his oppo
nent, It was a battle royal throughout
the three rounds with Surrey declared
the winner. Some considered this the'
best bout of the evening.
The third preliminary was an ex-j
hibition between two fast colored boys.
James Perry, 133 pounds, and Dixie!
Kid, 136 pounds. The Kid was intro-1
duced as junior lightweight champion!
of South Jersey. In the first two rounds
of this go, Perry seemed to be getting
the best of it He was apparently more
aggressive and landed more telling
punches, but the Kid wasn't idle by
The last round, however,
any- means.
waa.aiL th* Kid's He walked into Per
ry with telling effect and soon bad him
groggy. When the last bell sounded.
Perry was practically out and his sec
onds had to work over him considerably
to keep him from fading away. This was
-decision bout, but the Dixie Kid
In the fourth bout, that short but!
stocky performer, Jimmy Moran, 1261
pounds, from the Rexford camp, proved
too much for Kid Music, 132 pounds,
a no
was easily the winner. Both of these
boys were clever and fast.
Four Times To The Mat
from Olney. Moran is plainly an old
band at the game and while he is
short in stature he is stocky and mus
culer. Music was clever and a willing
fighter but Moran was just too much
for him, Music going to the mat four
times in the three rounds. He was on
the canvas when the first round ended,
he was floored twice in the second
round, and he was again reclining when
the final bell sounded. None of these
jolts were knock-outs, however. Mor
an's gloved fist was lifted as winner
by the referee.
The fifth go was ended abruptly in
the third frame, when Captain DeMer
ritt, the referee, awarded the bout to
Sallen because of a foul by Smith, the
referee charging Smith with hitting at
with both hands. The entertainers
once
in this bout were Clarence Smith, 152
pounds, and John Sallen, 147 pounds,
both from the Rexford camp. Smith is
another lad that shows much exper
ience. He is strong and knows the game
and the fight was his up to the time
that he fouled Sallen. But Sallen is
strong and active and kept crowding
Smith in his efforts to give Smith as
good as he was receiving.
Two Fast Blackbirds
In the sixth bout, two more colored
boys performed, Thomas
pounds from the Pipe Creek camp, and
William Rollins, 145 pounds, from the
Yaak. Rollins won the decision. He was
faster and much more clever with his
fists. Both boys showed considerable
experience, Rollins especially showing
signs of having spent much time in the
squared ring. It was a pretty exhibition
of clever boxing, with some jarring
jolts taken by both boys.
Ellis, 147
The main event was such in name
only. It was a return bout between
Micky Yale, 135 pounds, of the Rex
ford camp, and Hula Sullivan, also 135
pounds, from the Troy camp. Yale far
outclassed the Irishman from Troy. In
fact, one might say that Sullivan was
helpless before Yale's onslaughts. With
out any trouble whatever, Yale repeat
edly landed terrific jolts to Sullivan's
chin and head, while about the only
thing Sullivan could do was to stand
with his left hand extended and vainly
attempt to land a telling blow now and
then. In the last few minutes of the bat
tle, Sullivan devoted much of the time
to covering up and protecting him
self from Yale's attack. One thing can
be said of Sullivan, however, and that
is that he could absorb a lot of punish
ment without going to the mat, and that
he was a willing fighter. But at the
close of the four rounds he was on the
border of slumberland. These two boys
also fought in the program staged here
August 12 and Yale has both bouts
to his credit. Yale is an old hand at
the game, strong, clever and carries a
nasty wallop in both fists as was ev
idenced by the fact that he gave Sul
livan a broken jaw in their fracas. Sul
CITY COUNCIL HOLDS
SHORT SESSION TUESDAY
The Libby city council held one of
the shortest sessions in its history Tues
day night. All business was transacted!
and the meeting adjourned by 9:30
o'clock, when as a usual thing adjourn
ment is not reached until 11 or 12
o'clock.
Outside of routine matters, the only
business transacted Tuesday night was
regarding collection of license fees. The
chief of police and city treasurer were
instructed to see that all licenses are
collected. All truck owners who are us
ing their trucks for hire will be called
on to pay a license as required by ord
The regular transfer companies
here each pay about $20 a year as a li
charge and others will be required to
do likewise.
City Clerk Veldman states that all
papers necessary in making application
for federal funds for a city hall have
been filed with the proper officials.
mance.
LIBBY NRA COMMITTEE
LAYS PLANS FOR DRIVE
The Libby NRA committee met Tues
day night and discussed plans in con
nection with recovery work. The com
mittee states that the plan to secure
consumer cooperation for the National
Recovery Administration will start in
the near future, and while it will be
later than in most communities, the
delay was due to late arrival of the
cards. The employers in Libby are
doing their best to meet the require
ments of the act and should receive the
support of the community, states the
committee.
CAMP FIRE PERMITS
NO LONGER NEEDED
tr
the wt> , ,
a "d a shovel, axe and pail must still
est B
|
That camp fire permits will be no
longer needed was announced this
morning by J. K. Dwindle, assistant
supervisor. However, smoking in
is still prohibited, he stated.
ing permits are required up
I in all cars entering the for
i to the end of this month.
be carri
Montana, Responds
To NRA Appeal
Virtually All Communities Are
Meeting Requirements of
Campaign.
. .. . . .,
Montana is repsondmg in admirable
f"hion to the President s appeal for
compliance with the NRA, It is declared
i by district manager
for the NRA for Montana. Wyoming
and Washington, who has requested
from Governor Cooney a conference re
garding the state recovery board activ
ity to be held early in September.
Reports from all over the state re
ceived at the district office indicate
| that virtually all communities are meet
i ing the requirements of the campaign
i and the majority have already displayed
j the Blue Eagle.
| The district manager's office is re
! ceiving complaints from individuals and
firms w ho have a grievance regarding
application of the terms of the Presi
dent's agreement or special codes
I adopted by the industry. In this
con
nection Mr. Blalock declared;
"It is very grtaifying to me to be
able to state that of all the cases so
far reviewed by my office there has not
been one which was not amicably set
tled."
Throughout the vast territory com
prising the extreme Northwestern dis
trict there is being set up machinery for
handling those exceptions and misun
derstandings which are unavoidable be
cause of the rapidity with which the
present program is being made effec
tive, Mr. Blalock explains.
This machinery will be directed by
the district recovery board for three
states. Within each commonwealth there
is a state recovery board which will
function under the district board.
The ditsrict board includes: J. E.
Moorç, Billings; Tracey S. McCraken,
Cheyenne; Kerr Beadle, Butte: Mrs.
Scott Bullitt, Seattle; B, B. Brooks,
Casper; and K W. Jorgenson, Spokane.
The Montana state recovery board is
composed of the following: Governor
F. H. Cooney, Chairman, Helena; Norm
an Winestine, Secretary, Helena; J. L.
Kelly, Anaconda; J. A. Lovelace, Boze
man; William Powers, Bainville; George
Shanley, Great Falls; Louis B. O'Neill,
Shelby; Desmond J. O'Neill, Glendiveifc
M. J. Sullivan, Alhambra; and W. H.
Young, Kalispell,
in the first
livan's jaw was broken
round and he showed much grit to stay
through to the finish and absorb the
numerous jolts that he did to that sore
law.
AI Baumgart acted as efficient an
nouncer of the events, while Captain
DeMerritt of the Pipe Creek camp and
Jess Bakker of Libby were the refer
ees. Dave Foster and C. R. Byers were
the time keepers. The program was
under the able direction of A. M. Hoff
man, E. M. Boyes ,and C, R. Byers
with the ofiAfcerfs from the various
camps cooperating.
If the C. C. C. boys are not pulled out
of the camps here too soon, it is planned
to stage a program of elimination bouts
between present winners in the not
distant future. The winners in the elim
ination bouts will then go to Spo
kane for a similar series of bouts be
tween the winners from the various
camps throuhout the Inland Empire.
Those winning in, the Spokane meet will
then go to San Francîsco to engage in
bouts with the district winners from
the entire western part of the United,
States, at which time the western;
champions will be determined. I
Y
Enrollment
Increases In
High School
Facilities Taxed to Take
Care of Growing
Number.
GRADES HAVE 312;
GRAND TOTAL 639
The Libby school opened Tuesday for
a full day's work. Each principal and
teacher had arranged a schedule which
enabled them to give out texts, as
sign lessons and outline their coursa
during the class period. Except far an
occasional conflict among irregular stu
dents, the different departments are
running as smoothly as they do in the
middle of the year. There has been
quite a uniform enrollment In fha
grades for a number of years, but tte
high school continues to grow and is
now taxing space and equipment
The reduction in the high school fac
ulty and elimination of manual training
and home economics have made it ne
cessary to shift the emphasis to other
subjects, with the result of s number of
large classes. All courses in commerce
and those leading to college entrance
requirements have been retained so the
students will be accommodated in all
the fundamental and essential courses.
The vocational eoumes have bean very
popular and it is hoped that they may
be reinstated when normal conditions
return.
It was necessary' to place a number of
new desks in the high school assembly
to seat the increased enrollment. A
large number of high school pupils
from other districts have enrolled this
fall, while practically none of last
year's classes have been lost. The be
ginners' section is back to normal, reg
istering 67 first graders. The enrollment i
Tuesday evening stood:
I
High School—Frosh, 48; sophs, 45; j
juniors. 43 ; seniors, 38 ;
total, 179.
Junior High, 148.
Central—Mr, DeSonia, 21; Miss Stev
ens, 26; Miss Liebe, 33; Miss Thorson,
28; Miss Staudacher, 31; Mi» Hostet
ler, 27: Miss McGrade, 28; "'Miss Mad
den, 26; Miss Courtwright, 25; Miss
; AliMJSh»«* total.
Grand total, all departments, 6
P. G.'s, 5; ;
312
Arnold, 34;
Grand total
639.
INSANE MAN ATTEMPTS MURDER
OF WIFE AND SUICIDE
Romeo Garrison of Eureka was
brought to Libby last Thursday and
lodged in the county jail pending his
removal to the hospital for the insane
at Warmsprings. On Thursday of last
week, Garrison attempted to kill his
wife and commit suicide. The Eureka
Mirror has the following account of the
affair:
The community was shocked this
morning upon the report of an attempt
ed murder and. suicide at the Romeo
Garrison home.
Sometime in the night Mr. Garrison
attacked his wife with a knife, cutting
several gashes in her throat. Mrs. Gar
rison got out of bed and with her baby
in arms rushed across the street to the
Tom Bo reman home where she col
lapsed as she entered the door. Both
she and the baby were covered with
blood and the blood was still flowing
from the wounds in Mrs. Garrison's
throat. Dr. Lowell was summon^ *nd
soon had the wounds dressed.
Upon investigation at the Garrison
home it was found that Mr. Garrison
had disappeared. He was found l*ter
in the morning wandering along the
river in East Riverside suffering from
supposedly self inflicted gashes in his
throat and on his left wrist. Mr. Gar
World War veteran and suf
nson is a
fered from the effects of gas and shell
shock in service and it is thought that
he committed the act while in a state
of insanity. Sheriff Baney came up this
morning and took him to Libby where
he will be held under observation.
Latest reports are that Mrs. Garrison
is doing nicely and will recover.
Troy News Items
SCHOOL BOARD MEETING
Regular meeting board of directors of
school district on Sept. 4. Trustees
present: Mr. Sanders, chairman, Mrs.
Smith, Mr. Weidner, Mr. Ford, Mr.
Coffman.
Motion by Ford, seconded by Smith,
carried, to appoint committee of one
to order proper clothing and school
supplies for Jessie Templeton. Mr
Smith appointed by chairman to look
after same.
Motion by Smith, seconded by Weid
ner, carried, to instruct clerk to notify
bus drivers that no passengers, freight
or pacrels can be hauled with shcool
children.
Motion by Ford, seconded by Weid
ner, carried, to have Mr. Nichols in
stall heaters in school busses. Clerk
instructed to notify drivers to call at
Service Garage any time before Oct. 1.
Motion by Ford, seconded by Coff
man, carried, to have Mr. Whitney re
construct tables in commercial room.
Mr. Ford to order new covering and
have charge of same.
Motion by Weidner, seconded by
Ford carried, to order 5 or 6 extra
cords of wood from Mr. Thomas. Mr.
i
. Ford, Coffman and Weidner appointed
! to cheek wood.
1 Clerk instructed to order 12 play
ground balls, also 3 sets of keys.
Motion by Ford, seconded by Weid
1 (Continued on page 8)
I
Was It Earthquake orMeteorShock?
McGinnis Meadows District Hears
Rumble Followed by
Distinct Shaking.
McGinnis meadows. Sept. 5 .—
Last Wednesday this community re
ceived some kind of a shaking up. It is
not known here just what it was, but it
must either have been an earthquake
shock or a meteor. There was a rum
bling noise, which was heard before
the shock was felt, which some think
might have been caused by a meteor.
BUILDING AT CITY
AIRPORT BURNS TUESDAY
The residence building on the B. J.
Lamey ranch across the river north of
the city that has been occupied by the
airport crew while working on the new
landing field, was completely burned
Tuesday night. A match held too close
to a gasoline lamp at the wrong time
started the fire. The building and all
its contents were burned to the ground
including a month's supply of provis
ions that had just been received and
stored there. Nearby tents were saved
by putting a pump in use.
Libby Woman's
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Captain A R. Sanders to Give
interesting Talk at Program—
C.C.C. Boys to Furnish Music.
The Woman's Club will open its
1933-34 season with a meeting Tuesday
afternoon at the club house. The meet
ing will be in charge of the new presi
dent, Mrs, L. J. Olson, and her staff of
officers who were installed in June,
The program committee has ar
ranged for an interesting progam for
this meeting. The speaker of the af
temoon will be Captain A. R. Sanders,
the commanding officer of C.C.C camp
the commanding officer of C.C.C camp
No, 17 at Troy. Captain Sanders is a
man of extensive travel and wide ex
perience in both foreign and domestic
army service and his talk promises to
be both interesting and instructive. The
musical entertainment will be furnished
by a group of the men from his camp.
MBS. DELIA EVANS WEDS
MB. PAUL CABL SCHULZ
The Frank Van Der Wood home on
Louisiana Avenue was the scene of a
quiet wedding on Tuesday afternoon.
Mr. Paul Carl Schulz of Shelton, Wash
Mrs. Delia Evans, (the
daughter of Mr, and Mrs. Van Der
Wood, were united in marriage, the Rev.
R. W. Orr of the Presbyteian church
reading the service. The bride was ac
companied by Miss Mina Larson, the
bridegroom by the bride's brother,
William Van Der Wood. Mrs, Henry
ington, and
Nelson and Mrs. Orr were the only
other guests.
A wedding dinner was served follow
ing the marriage ceremony.
The couple left on the Empire Build
er at 6 o'clock for Shelton. Mr. Schulz
is a lumberman employed in the woods
about 40 miles from Shelton. Mrs.
Schultz has spent many years in Libby
and is known both as a school girl, be
ing a graduate of the Libby high school,
and as an employee in the office of the
county assessor. Many friends will wish
her happiness in her new home.
WHAT MAY BE DONE
WITH RETIRED ACRES
Bozeman, Sept. 5.—Information just re
ceived by J. C. Taylor, director of the
Montana extension service, from the
federal wheat administration at Wash
ington gives further details as to what
may be done with the retired acres
under the adjustment program.
Such retired wheat acres may be al
lowed to remain unplanted, they may
be summer fallowed or they may be
subjected to a weed control program.
They may be planted to alfalfa, sweet
clover, or hay or pasture grasses, but
when such crops are planted, an equiv
alent acreage of old hay or pasture
must be taken out of production when
the new acres are ready for utilization.
Forest trees for windbreaks or for farm
use may be planted or any green crop
may be planted and plowed under.
In addition to these specific regu
lations regarding the use of land taken
out of wheat production under the 15
per cent reduction program, the ad
ministration already had issued general
instruction to the effect that retired
land might be used to produce food to
be consumed on the fam, or to produce
feed for livestock which will be con
sumed on the farm. ?
No definite information has yet been
received as to whether flax may be
planted on retired acreage.
LIBBY'S FIRST GOLF
TOURNAMENT THIS MONTH
Glen Frisbie, proprietor of the Koote
nai Golf Course, is advertising a golf
tournament among the local people to
be held on the 16th and 17th of this
month. This is something new n local
sportdom as it is the first one ever
held at this place.
N. R. A.
N- is for National, which includes us
all.
R- for Recovery, complete this fall,
A- stands for act, an emergency law,
Johnson says take It, or a sock on the
jaw. Ray Breck.
*
H. A. Joughin was a business visitor
to Spokane the first of the week.
THREE GO OFF HIGH GRADE
IN CAR; ALL ESCAPE INJURY
Driving from Troy to Libby Saturday
night. Bill Nelson, Vernon Friend and
Morris Benson, in Benson's Chevrolet!
coach, with Nelson at the wheel, went
off the high grade on the 'Libby-Troy
road just east of Mahoney Springs.
The car rolled over several times and
was demolished, but the three men es
caped with only a few scratches.
NO C.C.C. CAMPS HERE
DURING THE WNTER
campe
The Libby office of the forest
has received ward that no C.C.C.
will be maintained here during the
winter. All present workers must re
enlist for winter work by September 8
if they desire to remain in the service.
Thereafter those not signing up will be
sent back to tbeir homes, aU of them
be out of this district by September 30.
Between that time and October 15,
those who re-enlist will be sent to
some southern camp. It is estimated it
.1 require about 100,000 new recruits
fill the ranks after those have gone
who desire to return home for the
winter.
to
will
to
Negroes Are Again Winners.
The fast baseball team of colored
^° rk r er x frorn ^ ^ ^
the Libby team to another trimming
last Sunday, the score this time being
14 to 8. The colored boys scored in all
but two innings, while the locals were
blanked in five frames.
Roberts, Patt, Burpee and Allen were
batteries for the Libbyltes, while the
colored bunch opened with Graves and
Miller and later switched to Peorsall
and Brown. Dedic and Kammeyer,
umpires.
A short story of the game is told in
the following score by innings:
Colored Giants 41502101 x—-14
Libby . 210230000—8
Big Tonnage
Of Gold Ore In
Western Montana
Increased Price for Metal Means
Much Greater Activity in
Mining Camps.
Butte, September 5. (Special)—Min
ing of enormous tonnages of low-grade
gold ore deposits in western Montana,
as a result of the lifting of the gold
embargo by President Roosevelt, is now
a distinct possibility, according to a sur
vey being conducted by Montana School
of Mines under the direction of Pres
ident Francis A. Thomson, director of
the State Bureau of Mines and Geology.
Estimates from reputable mining men
received at the Butte mining schaol
have reached a total of more than
5,700,000,000 tons of gold ore valued at
from $1 to $5 a ton, which may be mined
at a profit under present conditions but
which could not be developed in the
past.
Commenting on the great gold-ore ton
nage reported, President Thomson says:
"Because even the most experienced
engineer cannot estimate the tonnage
of an undeveloped ore body, it is im
possible for the bureau to vouch for
the accuracy of the estimates presented
by our correspondents. However, I feel
safe in saying that there are large ton
nages of low-grade gold ore in Mon
tana, the development of which should
be stimulated by the action of the Pres
ident."
The largest body of ore reported was
by Charles E. Pew of Helena, who es
timated 5,000.000,000 tons of ore are
present in the Golden Cloud and Gold
en Mist properties in Lewis and Clark
county. This ore is valued at about $1
a ton, Mr. Pew reported. George B.
Conway, veteran Helena operator, also
reported an ore body in Lewis and
Clark county of similar magnitude. Mr.
Conway ajso said that other mineral
bearing formations totaling nearly half
a billion tons valued at from $1 to $5
a ton, are preseftt in Lewis and Clark
county. Other deposits reported by Mr.
Conway include 65 million tons valued
at $2 a ton in Phillips county, and 100
million tons valued at $1.50 a ton near
Big Timber.
A prominent Butte engineer has re
ported the Doering et al property in
German Gulch near Butte as containing
possibly 18,000,000 tons; and also a mil
lion tons near Bannack. H. H. Mayer
of Helena estimates gold-bearing de
posits in German Gulch total upwards
of 50 million tons. A prominent smelter
executive estimated approximately 50
million tons of $1.50 ore at Rimini and
than a million tons of $3.00 ore
more
at Pony. Another Pony deposit is known
to contain about a million tons of ore.
A deposit near Helena is reported by
W. M. Manning to contain upwards of
50 million tons. Another deposit at Jar
dine, now beoing worked, is reported
by H. C. Bacom to contain two million
tons of low-grade ore that can be work
ed if the gold can be sold for more than
the price allowed by the United States
government. Two other reports have
been received: one from Charles Whit
comb of Zortman—an undetermined de
posit of $1.20 ore ranging from 200,000
tons upward; and another from J. F.
Powers of Troy—300,000 tons of $2.00
ore.
The Misses Antonia and Elizabeth
Grandjean and Mrs. A. C. Herbst left
yesterday for Fortine where they will
viS i t w ith Mr. and Mrs. H. P Weyde
meyer, also visiting with friends in
Eureka before they return. They were
accompanied by Mrs. 0. G. Gompf.
Loan Company
Issues Letter
To Investors
I
I
: Tells of Plans in Mind
j
for Reorganisation of
Corporation.
^.'INVESTMENTS BACKED
BY GOOD SECURITIES
The Western Loan and Building
company erf Salt Lake City has mailed
a circular letter to all stockholders dat
ed August 24, setting forth the plans ot
the company. The Utah bank commis
sioner and others in charge of the
company stomgly favor some form of
reorganization instead of liquidation u aa
present frenzied markets," The letter
further says, "Your investments In thi*
company is substantially backed by
real estate and mortgage securities
which, except for taxes, are a first lien
on the real etsate." The letter follows:
To The Investors Of The Western Loan
St Building Company;
The bank commissioner of the state
of Utah took charge of this company,
August 18, 1933. This action was de
termined only after a thorough exami
nation into the affairs of the company
in which the examiners of the states
of Utah, Montana, Wyoming, and Cal
ifornia participated. The report of ex
amination was reviewed in detail by
the commissioners of the several west
ern states in a conference at which it
was requested that the state bank com
missioner take charge. This action was
acceded to by resolution of the board
of directors of the company.
It was agreed by the commissioners
of the several states that the commis
sioner of Utah impound all the assets
of the company wherever found and
regardless of state lines and that the
whole operation be in the nature of
a conservatorship rather than with any
thought of liquidation on present fren
zied markets. It was the consensus of
the meeting of the commissioners that
no investor in any state be preferred
over an investor in any other state.
The purpose of the action taken will
be to reduce overhead expenses; to
prevent withdrawals erf payment» and
claimed profits; to preserve all assets:
and to work out a reorganization if
possible so that the company may go on
a mutual basis—owned and controlled
exclusively by the investors and man
aged by directors selected by them. A
complete audit is in process and ap
praisals are being made of every asset
In the meantime, an efficient organ
ization will be maintained to take care
of properties, collections, rentals, etc.
By enforcing a strict collection policy,
earnings continue to
accumulate and will offset many losses
from depreciation.
There will be no preference of in
vestors in one state over those in an
other. Wherever the assets are located
they will be equally available to invest
ors. It will be unnecessary and a useless
loss and expense for any investor or
group of investors to incur attorneys'
fees, court costs, or individual expense,
as the interest of each will be as fully
protected without any such burden. The
building and loan officials of your own
slate can advise you of these matters
without cost.
You are cautioned about assigning,
trading, or discounting to brokers at
low prices your investment certificates.
Your invetsment in this company is
substantially backed by real estate and
mortgage securities which, except for
taxes, are a first lien on the real estate.
Pending the efforts of reorganization
and under changing conditions, it is
impossible at this time to state to you
with any assurance the value of your
holdings in the company, otherwise
than indicated above. It is the hope of
this department that investors will at
least realize the amounts paid in on
their investments. Any improvement in
real estate market conditions will, of
course, result in further benefit to in
vestors.
Investment agreements of every na
ture with the company are in suspen
sion while the Department is in control
and you are not required during this
time to make further payments on your
investment. No forfeitures will result
from your failure to make payments as
required by your investment agree
ments. All payments received on in
vestment accounts after August 17, 1933,
will be set up in a separate account
and held intact pending reorganization,
and will be held subject to the order
of the investor remitting the same.
Investors are assured that the inter
ests of all will be fully protected by
the Utah Commissioner in control and
acting with the advice and counsel of
the building and loan officials of all
the eight western states in which in
vestors reside.
There are approximately 21,000 in
vestors. Frequent letters or reports
would involve needless expense. How
ever, such informatoin as is necessary
to advise you or for your guidance
will be furnished.
Your cooperation and any advice you
may care to offer will be appreciated.
Very truly yours,
JOHN A. MALTA.
Bank Commissioner for the State of
Utah.
By J. W. JONES,
Deputy Examiner in Charge.
Mr. and Mrs. D. O. Mount and daugh
ter arrived home Saturday from a visit
of several weeks at the old home in.
Peoria, Ill.