20
Eleanor was married January 3J, 1948!
Congratulations to the newlyweds!
Robert Tugman, deputy in the S.W.
12th street office, has left the service.
Good luck to you, Bob! Helen Mc
Cain, clerk-typist in the Central Bldg.,
has left state employment to accept a
position with the Phoenix Life Insur
ance' Co. Best of luck in your new
work, Helen!
William Bartholomew.
The Oregon Trail Chapter Elects
John Eastman, press correspondent of
the newly formed No. 3$ chaptet at
The Dalles, announces the new officers
elected December 12, 1947, as follows:
Laura S. Collins, president; Ivan Mc
Kee, vice-president; Mrs. Ethel Gamble,
secretary-treasurer. Mr. and M r s .
Thomas Boothby acted as sergeant-at-
arms and secretary, respectively during
the installation, by Lowell Stratton, of
The Dalles Chapter No. 9. Mrs. Bessie
Selisch, superintendent of nurses, gave
a report of the council meeting held
at Salem in November.
General Observations
Salem Chapter No. 1 has offered to
pay part of the costs of obtaining paid
newspaper space for OSEA publicity, if
and when such action seems necessary
or desirable. At the board of directors
meeting last December 20, they ex
pressed appreciation of the offer, but
did not at that time feel that paid space
would be necessary on the wage issue
as it was then being favorably con
sidered by the board of control. How
ever, the public relations director is in
vited to come before the board# of di
rectors at a later date for approval, or
to proceed with paid advertising if
emergency arises.
Mr. J. N. Chambers, chairman of
the Civil Service Commission, was for
some time seriously ill at a Salem hos
pital. He is now recuperating at his
home in Salem.
The only people who never make
mistakes are those who do nothing.
State Liquidates
Old Loan Firms
The - Corporation Department has
just concluded the liquidation! of the
Intermountain Building & Loan. A « |n
sociation, a Utah corporation, has paitfSP
all Oregon investors one hundred cents
on the dollar, and has money left/ This
is the last of eleven, savings and loan
associations that failed during the de
pression years and were taken over by
the Corporation Department either fqr
liquidation or operation. As a result of
this activity, ten were liquidated, and
one recapitalized and returned to active
status, and is doing very well.
The Intermountain Association Was
transacting business in ,»&■' western
states, as follows: , Arizona, California,
Idaho, Oregon,. Utah and Wyoming.
Only in Oregon have; the investors re
ceived 100 per cent of their ■ claims.
This is wholly due to three factors, f l )
salutary legislation enacted by, our
islature ip 1931, (2) an aggressive a n d ^
vigilant enforcement of these laws,, and
(3) /the phenomenal improvement; in
post-war real estate values. In the
states of Arizona, Idaho, Utah and
Wyoming the investors received but* 3f
cents on the dollar. In California they
received 99 per cent of their claims.
Litigation was instituted early1 in the
proceedings, both against the California
Savings and Loan Compaissioner and
the Oregon Corporation Commissioner,
by a federal receiver appointed in Ari
zona by the United States district court.
Although it was a Utah corporation,
the Intermountaih. Building & Loan
Association had moved its office from
Salt Lake City to Phoenix, Arizona,
without the consent or approval of the
state authorities of Utah. After his
pointment, the Arizona receiver im- W '
mediately demanded that both the Cali
fornia Savings and Loan Commissioner
and the Oregon Corporation Commis
sioner turn over all the business, affairs
and assets of the association located’ in
each of these states, and on the refusal
of each of these officials to comply