Concrete Plants Closing Ends Tucson Construction Boom
Concrete plants run by Arizona Aggregate Assn. members will shut down tonight halting Tucson's multimillion dollar home building industry amid a Phoenix strike by Operating Engineers. Officials warn 9 percent of local home building may stop within 48 hours and up to 5 000 workers could lose jobs as contractors face halted operations.
MENTIONED IN THIS ARTICLE
Tucson
Arizona Aggregate Assn
Duane D
Bud) Bryan
San Xavier Materials
Fred Busby
Tucson Home Builders Assn
Busby
THEA
THBA
Clark
The
Operating Engineers Union
Arizona Sand & Rock Co
Phoenix
Bryan
See Renick
William A
Bill) Gray
Gary
Arizona Savings Bank Placed in Receivership
Arizona Savings & Loan Assn was closed with its assets handed to State Supt. of Banks David O. Saunders and Atty. Gen. Wade Church. An exam found irregularities warranting action to protect 39,000 depositors. Judge Henry S. Stevens signed the receivership order amid opposition from president V. F. Kanan. Branches in Phoenix Glendale Scottsdale Chandler were locked and closed.
MENTIONED IN THIS ARTICLE
Phoenix
Arizona Savings & Loan Assn
David O. Saunders
Phoenix Ofice
State Bank
Glendale
Scottsdale
Chandler
All Money Safe Says Firm's Chief
The president of the Arizona Savings & Loan Assn in Phoenix assures shareholders their money is safe and denounces Attorney General Wade Church for shutting down operations. He says the company remains solvent despite the closing and criticizes the action as unexpected and damaging.
Supreme Court delays trials of three Pima County indictees
The State Supreme Court issued writs delaying trials for Lambert Kauten, A. L. Abbott, and Sam R. Kaufman until a full review of the indictment process is completed. Chief Justice M. T. Phelps granted 50 days for briefs, delaying any action until after the court’s summer recess on Sept. 15.
MENTIONED IN THIS ARTICLE
Phoenix
Pima County
Grand Jury
Lambert Kautenburger
A. L
Pop) Abbott
Sam R. Kaufman
State Supreme Court
M. T. Phelps
High Court
MIGs Attack U S Plane Near North Korea Wounds Tail Gunner
A U S Navy patrol aircraft was struck by two MIG jet fighters 85 miles east of Wonsan at 7000 feet over international waters. One crewman, Aviation Electrician's Mate 3 C Donald Eugene Corder of Jacksonville Illinois, was seriously wounded as the plane escaped to a U S Air Force base in Japan. Military officials say the two attacking jets bore Red Star markings and no identification of nationality was provided. The incident was reported to the State Department for a possible protest.
MENTIONED IN THIS ARTICLE
Munist
Sea of Japan
North Korea
Wonsan
Department
Won San
Navy
State Department
Defense Department
Aviation Electrician
3.C. Donald Eugene Corder
Ivan L. Corder
Jacksonville
Lucy May Tharp
Farmer City
Lil
Superman Actor George Reeves Ends Life in Benedict Canyon
Hollywood police say TV star George Reeves, 45, shot himself in his Beverly Hills home after a period of despondency and unemployment. Fiancee Leonore Lemmon claimed intuition warned of the act, as house guests heard the gunshot and alerted authorities. Detective Don Johnson described Reeves’s late night dispute with visitors before the suicide.
MENTIONED IN THIS ARTICLE
Hollywood
UPI
George Reeves
Superman
Benedict Canyon
Beverly Hills
Don Johnson
Reeves
Leonore Lemmon
New York City
Robert Condon
New York
Johnson
William Bliss
Carol von Ronkel
Canyon
Bliss
Miss Lemmon
John
Two Tucson Associations Insured by U S Savings Agencies
Two Tucson savings institutions Tucson Federal Savings & Loan Assn and Pima Savings & Loan Assn carry federal insurance on all deposits. Each account is insured up to 10 000 by the Federal Savings & Loan Insurance Corp a permanent U S government agency. Depositors would be paid even if assets were liquidated. Coverage is nearly non cancellable and would continue for two years after any cancellation decision with immediate notice to depositors.
MENTIONED IN THIS ARTICLE
Tucson
Tucson Federal Savings & Loan Assn
Pima Savings & Loan Assn
Federal Savings & Loan Insurance Corp
United States
Federal Deposit Insurance Corp
Pima Savings
West Ready With Final Berlin Offer
The West presented a final take it or leave it Berlin peace plan to Soviet leader Andrei Gromyko amid tense talks with Christian Herter. Assistant Secretary Andrew Berding said the six week old talks would end without a Soviet yes and a summit would not occur unless Moscow accepts the Western proposal. Reactions were awaited as a possible final conference session loomed Thursday or Friday.
MENTIONED IN THIS ARTICLE
Geneva
UPL
Berlin
Russia
Andrei Gromyko
Gromyko
Christian Herter
Soviet Union
Andrew Berding
Herter
Berding
Weather index name change noted for discomfort readings
Forecast warns of high heat with readings near 81 tomorrow and about 105 for the day. Tonight’s low around 75 and yesterday’s high near 103 with last night at 80. No rain expected. 2 PM shade temperature 102 and sun temperature 108 with humidity 14 percent. Full Weather Report, Page 27.
MENTIONED IN THIS ARTICLE
Weather Bureau
Arizona Savings faces receivership and audit over irregular loans
Saunders says the extent of the situation is not yet known and an investigation will continue while prompt measures aim to minimize losses and recover assets. The complaint accuses officers of operating contrary to Arizona law and in an unsafe manner with no deposit insurance. The report notes 40 percent of assets in 16 loans and 25 percent in Kansas Missouri, risking the whole operation. A June 23 hearing is set to determine permanent receivership as staff plan procedures for account checks.
MENTIONED IN THIS ARTICLE
Church
Arizona
Arizona Savings & Loan
Saunders
Kansas- Missouri
Arizona Savings
Attorney General
Stevens
Asst
John van Landingham
Kanan
Arizona Savings & Loan Doors Closed Ahead of Hearing
State Banking Supt. David O. Saunders announced Arizona Savings & Loan Assn. will remain closed at least until the Maricopa County Superior Court hearing next Tuesday. Depositors cannot make deposits or withdrawals until the court action proceeds. The hearing, petitioned by Atty. Gen. Wade Church with Saunders, will determine cause for permanent receivership.
MENTIONED IN THIS ARTICLE
David O. Saunders
Arizona Savings & Loan Assn
Maricopa County
Saunders
Gen
Wade Church
Henry S. Stevens
Arizona Savings
Citizen
James N. Corbett Jr
D-Pima
State Bank Inspectors Arrive In Tucson For Books Check
State Banking Department officials arrived in Tucson to audit the books and records of the Arizona Savings & Loan Assn two local branches. The company was placed in receivership by State Superintendent David O. Saunders after a prior examination found irregularities. Deputies secured the offices overnight and two association employees turned over keys as the lockouts continued.
MENTIONED IN THIS ARTICLE
State Banking Department
Tucson
Arizona Savings & Loan Assa
David O. Saunders
Association
Arizona Savings & Loan Assn
Tax cut eyes touch four-year low in Pima County budget
Pima County faces a record $11 million budget while considering a tax rate that could be the lowest in four years. The article notes the potential impact on local services and fiscal planning.
MENTIONED IN THIS ARTICLE
Pima County
Arizona
University of Arizona
Fresno State
Also Mentioned on This Page
Arizona Savings, Loan
Wv. F. Kanan
Atty
Carlos Contreras
Loan Company
S. Stone Ave
Bulletin
U.S
Washington — Ups — Com
U. S
Japan
Rector
Woodstock
Iowa
Tarleton Twins
Actors’ Agency
Carmen Martinez
Frank Banuchi
Said Banuchi
Martinez
West
By Gordon Evans
State of
James E. Davis
Henry Owen
Sheriff's Deputies
Davis
Art Buchwald
A Mayfield
PC Public Records
Tucson Society
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