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Evening star. [volume] (Washington, D.C.) 1854-1972, December 12, 1951, Image 20

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1951-12-12/ed-1/seq-20/

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JOSEPH
CALENDAR AND
WEATHER CHART
historical dates, weather,
planting, fishing data,
counter—it's MtlU
It’s
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THURSDAYS &
SATURDAYS
Transamerica Charges
U. S. Solicitor Uses
'Worthless Statistics'
By th« Associated Press
Transamerica Corp. yesterday
accused the Federal Reserve
Board’s solicitor of using “worth
less statistics” and “distortions”!
in an effort to break up Trans
america’s banking combine.
Samuel B. Stewart, jr., San
Francisco attorney, made the ac
cusation as the board neared the
end of hearings on an anti-trust
action against Transamerica.
Mr. Stewart was objecting to
statements by Solicitor Leonard
Townsend, who has asked the
board to order Transamerica to
sell its stock in 48 banks in live
Western States. The banks have
a total of 667 offices and $6.7
billion in deposits.
Sees 39 Pet. Deposit Control.
Mr. Townsend accused the
Transamerica Holding Co. of vio
lating the Clayton Anti-Trust
Act, which bans stock acquisitions
that tend to cr^te a monopoly
or lessen competition.
Mr. Townsend had argued that
Trans-America controls 41 per
cent of all banking offices in the
five States—California, Washing
ton, Oregon, Nevada and Arizona
—and 39 per cent of the deposits
and 50 per cent of total bank
loans.
Mr. Stewart told the board to
day that these statistics "are
worthless to you gentlemen. They
include everything possible to
build up the size of Trans-Amer
ica and exclude everything pos
sible to hold down the size of
competitors.”
He said the Bank of America,
a California branch bank system
often called the world's biggest
bank, should not be included in
the Trans-America group because
Trans-America now owns only 8
per cent of the stock of Bank of
America.
Ridicules Monopoly Charges.
If Bank of America is not in
cluded in the group, he added,
Trans-America would control only
7 per cent of bank deposits in
the five-state area.
He ridiculed charges of monop
oly, saying that Trans-America
owns only one bank in Arizona
and one in Washington.
"There is not a scrap of evidence
that the so-called Trans-America
group operates as a unit, or, is
treated as a unit by the public,”
Mr. Stewart said.
Winner in Doubt
CLEVELAND, Dec. 12 (JP).—
Who won this fuss? Mrs. La
verne Murphy, 35, obtained a di
vorce and custody of their five
children yesterday on the grounds
her husband was more interested
in his ham radio station than
supporting the family. The hus
band, Frank, 66, got court per
mission to live the rest of his life
in his radio shack on the family;
property.
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s
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95
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KREISLER LADIES’ and MEN’S
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88'
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BOYS' & GIRLS' WRIST WATCHES
MEN'S & LADIES'
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INDIAN SILVER JEWELRY
Reg. Up to 7.95
Some with
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BRACELETS 4
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EARRINGS
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1 Strand »
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STERLING SILVER Reg.
SERVICE PINS I 95 to 5.95
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GM—Reg. 22.95
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Toaster
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Coffee SI C
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Automatic
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Sterling 2-Pe.
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Reg. 25.00 ^
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Sterling
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STICKS
Reg. 5.00
$0-85
STERLING $V®.49
JAM JAR & SPOON—Reg. 7.50 ^
4-PC. SILVER PLATE
TEA SET—Reg. 29.50
6-PC. SHERIDAN
TEA SERVICE—Reg. 150.00
*18“
$09.50
SILVER PLATE COVERED $9*49
VEGETABLE DISH—Reg. 10.50 ©
SILVER PLATED $E.49
SILENT BUTLER—Reg 8.95 m
STERLING SILVER
COMPOTE—Reg. 7.50
STERLING
GIG. URN—Reg. 4.95
ALL
LUGGAGE
Reg. 4.95
WESTERN $0-29
WALLETS £
Reg! 4.95
3-Way
ZIPPER
WALLETS
.88
Reg. 3.50
EVANS $0.59
LIGHTERS im -
Reg. 12.50 EVANS
LIGHTER *
CIG. CASE *
COMB.
Reg. 1.95
PLASTIC
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88
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