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Lubbock Avalanche Journal in Lubbock, Texas

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Newspaper

Lubbock Avalanche Journal

Location

Lubbock, Texas, United States of America

Date

Jan 22, 1971

Page

3

Outcry at Officials Over Sharpstown Stock Probe in Texas

The January 22 1974 report details SEC suits and hearings involving former Texas Attorney General Wagooner Carr and others tied to Sharpstown stock deals. It notes Lt. Gov. Ben Barnes calls for disclosure while U.S. Atty. Eldon Mahon and banking examiners monitor related cases and banks. The piece covers Ramilies hearings, Shivers and Smith depositions, and claims of impropriety denied by defendants.

Ben Barnes Barnes U.S. Atty Eldon Mahon Fort Worth SEC Houston Grand Mahon Robert Stewart Dallas Bank and Trust Co City Bank and Trust Co Dallas Sharpstown State Bank Smith Speaker Mutscher Fed Allan Shivers Texas Atty Will Wilson Sharpstown Realty Co National Bankers Life Insurance Co Wilson U.S. Justice Department Shivers Gov Sarah T. Hughes Gen. Carr Sharpstown Bank National Bankers Insurance Co Master Control, Inc Olympic Life Insurance Co Oak Forest Realty Co Oak Forest Investment Co Frank W. Sharp Sam Stock Soundness City National Bank State Banking Commission Sharp Gayle Schroeder Dallas Bank and Trust Schroeder Joseph Novotny City Bank and Trust Banking Commission Hughes NBL John Osorio Sharpstown State Bank of Houston Baum Watson Osorio Dr. Baum Frank Sharp John Boltz Austin National Bank Governor’s Office Austin House Senate FDIC Texas Industrial and Investment Enterprises Inc Supreme Court of Texas National Bankers Sims Commission Preston Smith

Disclosure Decree Fuels March Hearings On Bank Solvency

State Banking Commissioner Robert Stewart says three banks Sharps Town State Bank Houston Dal las Bank and Trust Co and City Bank and Trust Co Dallas face a federal suit. Examiners rank Sharps Town Bank and visits to Dallas banks follow. GOP lawmakers press Rep Jim Earthman for resign at Feb 8 Dallas SEC hearing amid probe. Barnes testimony links a $60 000 loan to National Data Communications stock. stock at 5.50. SEC contends banks and others sought to avoid FDIC rules via state insured deposits.

Robert Stewart State Banking Department Sharpstown State Bank Houston Dallas Bank and Trust Co City Bank and Trust Co Dallas Stewart Mutscher Jim Earthman SEC Ask GOP Bill Blythe Sonny Jones Banking Department Joseph P. Novotny Barnes National Data Communications Harold Hinn Plainview National Bank of Commerce Hinn Isnonse Federal Deposit Insurance Corp Smith Shannon Palmer Osorio Carr National Bankers Life Shivers

Steel Plant Blast Kills Three at Warren Ohio Site

An explosion at the Copperweld Steel Co plant near Warren Ohio killed at least three workers and injured twelve others. Police said the blast and ensuing fire caused deaths from concussion and flying debris as responders contained the flames.

Warren, Ohio Copperweld Steel Co Here

Rejected Bill Aimed at Escaping FDIC Control

Legislative records show 12 representatives and two senators opposed a 1969 bill to let some state banks escape FDIC control. The measure, tied to private insurance for deposits, passed the House 123-12 and Senate 4-2, with critics including Rep. Don Adams and Sen. Bill Patman opposing.

Reps Don Adams Jasper A. C. Atwood Edinburg Jim Earthman Houston David Fans San Antonio Gry Floyd Wil Lee Felix McDonald Charles Patterson Taylor Frances Farenthold Corps Christi Don Cayness Austin Dmund Jones Tmostston House Agwood, Cayness Fyiins Flood Lee McDonald

Also Mentioned on This Page

Lubbock Avalanche-Journal Ramilies Wagooner Carr Committee of 100 James E. Sims Gov. Smith PROBE Powernap J. M. Falkner The Texas Bankers Association Boot & Western Store Mto Hy Freddy Poteet, Clu Our Leaders Club Western National Life Insurance Company Freddy Poteet CLU Ave Steel Firm Lb & H Drug Store L&h University Big Spring Kry Manterey Professional Mark Briercroft
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