davidaulloa/AmericanStories huggingface dataset:
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
NOTICE OF MORTGAGE SALE

NOTICE IS HEREBY GIVEN. That
default has beeen made and now exists
in the conditions of mortgage given
by William T. Frahs and Anna Frahs.
his wife, mortgagorS to Webster u.
Hodge. mortgagee. dated June 18th,
1927, and recorded in the office of the
Register of Deeds Of Pine County. Min
nesota- on the 2sth day of June. 1927:
at $3.50 o'clock p. NJ. in Book No. 81 Of
Mortgages. on page 1874;
That by reason of said default in the
claimed to be due and is due on said
mortgage and the Indebtedness secured
thereby. at the date of this notice. the
and 79-1O0 Dollars (s444.7s). which
said sum includes principal and interest
and taxes on said premises for t. the
amounting to Sixty-eight and 99-1OO
Dollars (s6s.99). paid by said mortgage
December 2Sth. 1888. and interest on
said taxes; and no action at law or
otherwise has beeen instituted to re-
cover the debt secured by said mort
gage or any part thereof.
NOW THEREFORE,, because of said
default in the conditions of said mort
gage. and pursuant to the power OF
sale contained in said mortgage. and
the statute tut IN such case ; made Sa and pro-
and the premises described in and COW
cred by said mortgage. and situate in
the County rs of Pine; State of Minnesota;
Southeast quarter (SWA of SEQ Of
Section Thirty (3O). in Township Forty
three (43). Range Nineteen 90. will
be sold at public auction to the highest
bidder therefor for cash. by the sheriff
of said County of Pine. on Monday the
18th day of April 1894, at 10 o'clock
A NJ. at the front door of the Court
House. in the Village of Pine City. in
said County and State. to satisfy and
pay the amount which shall then be
due on said mortgage. and taxes II
any. on said premises. and the costs
and disbursements of said sale allowed
10y law, and twenty-five dollars attor-
ney's fee as stipulated in said mortgage
in case of foreclosure thereof.
Dated February 26th. 1894.
WEBSTER G. HODGE.
5. 6. l.. ROBERTS. Mortgage.
Attorney for Mortgage.
Pine City. Minnesota.
March April 50
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
RUTLEDGE

Rev Blaine Lambert OF Duluth, dis
trict superintendent, will preach at
the M. E. church Sunday, April 8, at
1870 p. m. Everyone is cordially in
vited to come.
Mr.. and Mrs. Andrew Youngbauer
went to Pine City Tuesday. Mr..
Youngbauer will serve on the petit
jury.
Mr.. and Mrs. Joseph Kepler and
Mr.. and Mrs. Stanley Genadek were
entertained at the Senobe home Mon
day evening.
Visitors at the Scott home Friday
were Mrs. W. w. Scott, her daughter.
Olive, of Duluth, Mrs. Louis Wilson
and daughter, Lois, of Aurora, and
Murl Beccue of Duluth.
Chas. Houde and Frank Guss, Jr.,
made business trip to st. Paul Sat-
urday.
Mrs. Margaret Emmons visited
friends at st. Paul two days the past
week.
Martin Jensen tranacted business at
Pine City Saturday. He accompanied
Della Mae WelShinger is on the
sick list. All hope the little girl will
be fully recovered soon and able to
attend school.
Mrs. Nyrud and family of Willow
River, were Easter Sunday dinner
guests at the Liljedahl home.
Mrs. Irwin Foster is on the sick list
All wish her a speedy recovery.
Mr. and Mrs. Stanley Genadek and
family have moved into the Schubert
house across from the village hall.
Mr.. and Mrs. Joe Salkiewicz and
Miss Josephine Jaros, all of st. Paul,
were weekend guests at the John
Jaros and Peter Cich homes.
Mrs. r. Bowers entertained Mr. and
Mrs. Frank Bowers and family, Mr..
and Mrs. Leo Busse and family, and
Mrs. J. L. Brooks at dinner Easter
Sunday at her home.
Mr.. and Mrs. Dave Doty of Finlay-
son, were guests of Mr.. and Mrs. Hou-
de Easter Sunday.
Mrs. Carl Peterson, her daughter,
Arlene. of Denham, Mrs. Nyrud and
Miss Thora Nyrud of Willow River,
were entertained at luncheon Last
Thursday at the Liljedahl home.
Sofas StOckey, who is employed in
LOsenski Bros mill near Nickerson,
visited his father over the weekend.
L. M. Scott and Joe Guss were Sand
stone business callers Monday.
Rev. Blaine Lambert, D. D., of Du-
luth. will preach Sunday afternoon,
April s, at 1870 o'clock in the Rut-
ledge Methodist church. Subject:
God Speaks to Man." Everybody
most cordially invited.
Paul Datko was in Willow River
Monday.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
MEADOW LAWN

A large crowd attended church and
Sunday school Easter Sunday at
Meadow Lawn. Sunday school next
Sunday at 1920.
Mr.. and Mrs. George Geisler, Betty
and Arthur, and Dick Miller motored
to Robbinsdale Saturday to spend Eas-
ter Sunday with Mr.. and Mrs. John
Grover and family. They returned
Sunday evening.
Melvin Chaplin and Roy Kurzhals
spent Saturday night and Sunday with
Billy Geisler.
Helen Smith visited Sunday at Her.
bert Smiths.
Several from here attended the
Farmers Holiday meeting at Hinckley
Saturday.
Mr.. and Mrs. Allen Simmerman Wis
tied at Elmer Smiths Sunday after
noon
Mr.. and Mrs. VIM. Baker and FAM
lily and Mr.. and Mrs. Howard Nichols
and family were dinner guests Easter
Sunday with Mrs. M. X. Smith and
family.
Mr.. and Mrs. Chas. Purdy and Ben
ny and Jim Dawson visited Wednes-
day evening of last week at the Allen
Simmerman home.
Mildred Jensen, who is employed at
Pine Camp. spent Easter Sunday with
her parents.
Mrs. John Holiday visited Friday
with Mrs. Kitchen near Pine City.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
CITATION FOR HEARING ON PETIT
TION FOR ADMINISTRATION

State of Minnesota. County Of Pine. SIS.
IN PROBATE COURT
In the Matter of the Estate of John
M Anderson. Decedent:
The State of Minnesota. to All Whom It
May Concern:
WHEREAS. Anna N. Anderson has
filed dn this court her petition stating.
among other things. that she is the
widow of the above named decedent;
that said decedent died intestate. a res
ident of the County of Pine. State Of
Minnesota, left property in the County
of Pine. State of Minnesota. and was a
citizen of United States of America:
and praying that administration of his
estate be granted to George A. Ander-
son:
THEREFORE,. You are hereby cited
to be and appear before said Court on
the 23rd day of April 1894. at one
o'clock p. m. in the Court House in the
Village of Pine City in said County and
State and show cause. If any you have.
why said petition should not be granted.
Dated March 27th. 1894.
(SeaO ROBERT WILCOX.
Probate Judge.
LAMSON &c REINHOLD.
Attorneys for Petitioner.
March 29-April 12)
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
CITATION FOR HEARING ON FINAL
ACCOUNT AND FOR DIS
TRIBUTION

State of Minnesota. County of Pine. S.
IN PROBATE COURT
In the Matter of the Estate OF Jakub
ZeZulka. Decedent.
The State of Minnesota. to all per-
sons interested in the final account and
distribution of the estate of said de-
cedent: The representative of the above
named decedent. having filed in this
Court her final account of the admin
iStration of the estate of said decedent.
together with her petition praying for
the adjustment and allowance of said
final account and for distribution Of
the residue of said estate to the person
thereunto entitled. Therefore, YOU and
EACH OF YOU. are hereby cited and
required to show cause. if any you nave.
before this Court at the Probate Court
Rooms in the Court House in the VII
lage of Pine City, IN the County OF
Pine. State of Minnesota. on the 10th
day OF April. 1894 at ten o'clock a. m..
why said petition should not be granted.
WITNESS. The Judge of said Court.
and the Seal of said Court. this 18th
day of March. 1894.
Court SeaD ROBERT WILCOX.
Judge of Probate.
OTTOCAR SOBOTKA.
Attorney for Petitioner.
(March 22-April 50
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
FINLAYSON CORNER

Mr.. and Mrs. Frank Barnick and
family of st. Paul, were visitors at the
Ed Barnick home Sunday.
Mr.. and Mrs. Frank Grineu of st.
Paul, were weekend guests at the
Oscar Anderson home.
Several friends and neighbors
helped Jess Larsen celebrate his
birthday Monday of last week.
Forrest Todd, who has been visiting
here with relatives for the past year.
returned to his home at Plattsmouth.
Nebr., Friday.
Francis Anderson mOtored to st.
Paul Friday to visit his father, Carl
Anderson, at the University hospital.
Mr.. Anderson is improving and it is
expected he will be able to return
home soon.
Mrs. Hubert ChristOpherson and
children visited Mrs. Carl Anderson
one day last week.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
ARTHYDE

Mrs. A. Raines and Earl Richard
son are visiting relatives in the Twin
Cities.
Miss Dorothy Eastman is spending
week at the home of her parents.
This Misses Elsie Nortrup and Perle
Hansen are spending their Easter va
cation here.
L. G.. Standish has returned from
the C. C. camp near Grand Marais
Sunday Mr.. and Mrs. Standish and
family visited her parents, Mr.. and
Mrs. L. o. Hatleli.
Mrs. Annie Thomson and Clifford
Thomson were dinner guests at D. M
Olson's Sunday.
Miss Louise Brown and Eagon
Brown had their tOnsils removed Fri
day in Aitkin.
Mrs. Ray spent last week helping
at the Ova home.
Mrs. E. C. Ellison has been spending
a few days at the home of her daugh-
ter. Mrs. ]. G. Emmer.
Myles Coolidge spent the weekend
at his home here. He returned to
Willow River Tuesday.
Geraldine, Priscilla, and Walter
Brown spent Sunday at the home of
their father, Louis Brown.
There is no school here this week,
due to the illness of one of the teach
ers.
A All club is being organized in
this community. County Agent Rollin
from Aitkin, spoke at a meeting here
Wednesday night.
The Misses Aino Leppinen and Ber-
nyce Hutchins were guests of Lillian
PaulsOn from Thursday to Friday.
Clifford Thomson visited in Elk
River and Minneapolis Saturday and
Sunday.
Lars Christensen spent the week.
end at his home north of town.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
BROOK PARK

Bob Korch of Duluth, spent Wednes-
day with his father.
Robert and Donald Peterson re-
turned from Superior Saturday eve
ming, after spending several days Wis
iting their grandparents.
Mr.. and Mrs. Lawrence Judin and
family visited from last Thursday
until Saturday with relatives in Min
neapolis.
Mr.. and Mrs. Fritz Larson attended
the Land O'Lakes banquet at Rush
City last Thursday.
Miss Ruth Danek left for her home
Good Friday, returning Tuesday.
Miss Gladys Walker spent Easter
vacation with her father, Ed Walker.
Miss Alice Ziegler and mother re-
turned to Ely Wednesday, after spend
ing week here visiting relatives.
Miss Art Scofeld was a weekend
visitor in the Cities last week.
Mrs. Ed LaMay and Mrs. Lloyd
Vettling and children spent Sunday at
the Ed Mitchell home at Hinckley.
Mrs. Stanley Fohrman and daugh-
ter, Donna May, visited her folks for
several days.
Mr.. and Mrs. Walter GLASGOW and
daughter, Dorothy, Mr.. and Mrs. Geo.
Fohrman, and Mr.. and Mrs. Stanley
Peterson and sons were entertained
at J. B. Fohrman's home Sunday.
Mr.. Rien visited. with his family
over the weekend
Mr.. and Mrs. Otto Bauers drove to
Brookston Saturday evening to visit
Mr.. Bauer's mother.
The sewing school met at the home
of Mrs. Derry recently.
Miss Marie Derry left Monday for
Pine City, where she is employed.
Mr.. and Mrs. B. ]. Kelsey and Ed
Shaske drove to Duluth Saturday and
visited with Paul Kelsey.
Mr.. and Mrs. Floyd Wood and chill
dren. Mr.. and Mrs. Clyde Wood and
children, and Miss lone Mead of Min
neapolis, visited with Mrs. Clara Wood
Sunday.
Mr.. and Mrs. Clifford Martina and
Jimmy Dunphy of Minneapolis, and
Mr.. and Mrs. Vernon Fore Of Henri.
cite, spent Sunday at the Ern Hooker
home. Marion Hooker returned with
the Martinas, after spending a week
in Minneapolis.
Miss Grace Stevenson of Minneapo.
lis, visited with her folks Sunday.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05

the program in the evening which in
cluded a mock wedding ceremony,
songs, music and tap-dancing. A
chest of silver was presented to the
couple and a wedding supper was
served.
Guests at the Emil Good home for
Easter dinner were Mr.. and Mrs. A.
j. Willie and family, also Caroline
Good from Sandstone, and Emil Good,
Jr.. who returned Friday from a win
ter in the woods in the northern part
of the state. Mr.. and Mrs. Louis Will
lie and family spent the afternoon
there, too.
A number of the men have returned
the past week from the North woods,
among them Carl Ryan, Vincent Koen-
ings, and Leonard Ellison.
Mr.. and Mrs. Dewey Snavely were
dinner guests Monday at the Samuel
son home.
The Ed Carlson family and Mr.. and
Mrs. Christensen enjoyed Easter din
ner with Mr.. and Mrs. Ernest Belling.
Mrs. D. E. Doty will be hostess to
the Catholic Ladies' Aid society
Thursday afternoon, April IL, at the
Izaak Walton League cabin. Every
one is welcome.
Bill whitman, who has been work.
ing at Mentor, returned Saturday to
help his father, George Whitman, with
the spring work.
April fooled us with winter wealth
er Sunday. Now we are waiting for
her to smile and bring us some spring
weather.
Peace Lutheran Church, Rev. H. C.
Sporleder. pastor-Services in the
Methodist church: Sunday school and
Bible class at $40 a. m. Service in
the German language at 10:45 a. m.
There will be no choir practice this
week. Saturday school at 10 a. m.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
LEGAL NOTICES
NOTICE OF MORTGAGE FORE
CLOSURE SALE

Notice is hereby given that default
has occurred in the conditions OF thaS
certain mortgags made ma r an9 dste gor np
sen, a single man. as mortgagor, 70
Savings Loan & Trust Company OF MAD,
ison. Wisconsin; as m0rtgag rec a Rsrist e
of Deeds of Pine County. Minnesota. on
April %, 1920, at 500 a. m. ana record
ed in Book SO of Mortgages on page
TNat thereafter the said Savings Loan
& Trust Company. in due ana iesa,
proceeding by c3 Hrs'ot Hompany of Madi-
son. Wisconsin. as disclosed by the ar
ticles of agreement or certihcate OF con-
Deeds Office on August 10; 1927. at one
iansous Records on page $50.
mort ss failure to pay: q 18th the
principal sum of twelve hundred ($l 20O.-
COZ dollars. secured by said mortgage
thereon from April Is. 1880. and Cd
the real estate taxes on said premises
for the years 1929. 1880. 1881. 1882 and
That there is due and payable at the
date of this notice upon the debt Sc
cured by said mortgage the sum OF M,
(sl5O5.50) dollars. and that no action
or proceeding at law or otherwise has
been instituted to recover said debt. or
That by virtue of power of sale
therein contained. said mortgage will
be foreclosed and the land and premises
therin described. situated in the County
OF Pine and State of Minnesota. to-wit:
The Southwest quarter of the South
east quarter (SWA of SEA) of section
three (43). Range nineteen Qs). West,
will be sold at public auction to the
highest bidder for cash. by the Sheriff
OF said Pine County. at the front door
OF the court house in the village OF
Pine City. in said Pine County. Mime
sofa, on Monday. April 30. 1884. at two
O'Clock in the afternoon to satisfy the
debt secured by said mortgage. with
attorneys fees in the sum of fifty
($5e.00) dollars. as stipulated therein.
and costs and disbursements allowed by
law upon such foreclosure and sale.
Dated March Is. 1894.
UNION TRUST COMPANY.
Successor by consolidation to Saw
ingS Loan & Trust Company.
and Commercial Trust Company,
of Madison. wisconsin,.
Assignee of Mortgage.
ALBERT JOHNSON.
Attorney for said Assignee.
Sands tone, Minnesota.
March 15-April 19)
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
DUXBURY

R. ]. Shute and Adrian accompa-
MED H. Clapper Of Cloverton, to Du-
luth Wednesday of last week, to at
tend a Standard Oil meeting.
A. Kallstrom of Springfield, Ill.
spent the weekend at the H. MatsOr
Mr.. and Mrs. N. Matson and chill
dren, Mr.. and Mrs. H. Matson anc
children, and Mr.. Kallstrom 81
Springfield, ILL.,, spent Sunday at the
r. Shute home.
Arnold Shute. who spent the pas
winter in Harris. returned home Sat
urday.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
NOTICE OF MORTGAGE FORE
CLOSURE SALE

WHEREAS default has been made In
the conditions of that certain mort
gage executed and delivered by w. r.
Wife. as a mo osi' to john e A. Kne mes
stang. MORTGAGE. dated December 18th,
1925. and acknowledged December 10th.
of Deeds in and for the County of Pine
and State of Minnesota on the oath day
of February. 1926. at 200 o'clock p. M.
and recorded in Book 4S of Mortgages
on page 125. and
WHEREAS said mortgage was ex-
tended on the 18th day Of December.
WHEREAS. said John A. Knestang is
therefore now the owner and holder Of
said mortgage. and has elected and does
hereby elect to declare the whole of the
payable at the date of this notice under
the terms and conditions of said mort
WHEREAS. there is due and claimed
to be due on the date of this notice
upon said mortgage debt the sum OF
s2124.S4 including interest to the date
WHEREAS. no action or proceeding
has been instituted at law or otherwise
to recover the debt secured by said
mp NoW T II aak eaff the NoTcE
HEREBY GIVEN that by virtue of the
power Of sale in said mortgage con.
tanned, and pursuant to the laws OF
Minnesota an such case made and pro-
vided. said mortgage will be foreclosed
by sale of the premises described there
IN situate. lying and being in the Coun-
~ of Pine. State of Minnesota. to-wit:
The Southeast Quarter of the
Northeast Quarter (SEA of NEA)
and the Northeast Quarter Of the
Southeast Quarter (NEA of SEK)
Of Section Seven %. in Township
Forty-five (45). North of Range
Eighteen Q8) West. containing 80
acres more or less. according to
the map or plat thereof on file and
Of record in the office of the Reg
lister OF Deeds in and for said
County OF Pine. State of Minnesota.
Which sale will be made by the
Sheriff of said County of Pine. State
of Minnesota. at the front door of the
Court House in the Village of Pine
City. County OF Pine, State Of Mime
sofa on Tuesday. the Gath day of
April. 1894. at ten O'Clock A. NJ. at
public vendue to the highest bidder for
cash to pay said mortgage debt of
S2124.s2. accrued interest to that date
and taxes. if any. paid by said mort
gage. and costs. disbursements and at
torney's fees allowed by law; subject
to redemption within one year from the
date of sale as provided by law.
Dated this 18th day of February, 1884.
JOHN A. KNESTANG,
Mortgagee.
". ]. KERNEL.
Attorney for Mortgages,
512 New York Life Bldg.
Minneapolis. Minnesota.
(March April Sd
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
NOTICE OF PUBLIC SALE UNDER
MASON'S MINNESOTA STATUTES
1927, SECTION SS43.

State of Minnesota. County of Sherburne
IN PROBATE COURT
In the Matter of the Estate of Lane
j. Thomas. Deceased.
virtue and in pursuance of an order
made by the above named Court on Sep
TENDER 5, 1888, the undersigned will on
April 10Th. 1894. at eleven o'clock IN the
forenoon. at the front door of the Court
House in Pine City. Pine County. Mime
sofa offer to sell. Quit-claim and con-
vey to the highest bidder for cash. sub
ject to the confirmation Of the above
named Court. the following tracts OF
land. of which said decedent died pos
SeSSed:
All of Sections 3. 5 and Is. Lots
1 and 2. the Sk of the SEA and
the SWA of Section 2; Lots L.
and A. the SEA- of the NEA. and
the SEA of the SEA of Section 6;
all of Section Z except Lot 3; the
NWA of the sWA and the sEA of
the SWA of Section 8; the NEA,
the EN- of the NWA and the SEA
of the SEA of Section 10; all of
Section II. except the ny of the
IL; in Pine County. Minnesota. ac-
cording to the United States Gov
eminent survey thereof.
The said tracts of land will be sold
separately or in such combination or
order as the undersigned may deem ex-
pedient and for the best interests of the
said estate.
Administrator of the Estate of
Lane j. Thomas. Deceased.
O'BRIEN. HORN & STRINGER.
Attorneys for Administrator.
1116 Pioneer Building.
ST. Paul. Minnesota.
March 22-April 50
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
(Too Late for Last weekly

A birthday party was held in the
hall Wednesday evening of last week
in honor of Mrs. Grabner and Gunnard
Longstrom.
Mr.. and Mrs. r. Shute and Clare and
Miss Eff1e Shute spent Saturday eve-
ming at the f. Kelley home.
The c. Bjork family and Mr.. and
Mrs. Glienke spent Sunday at the j.
Grabner home.
Mr.. and Mrs. NJ. Lampson and Glenn.
Mr.. and Mrs. James Matson and chill
dren. and Norman Matson spent Sunday
at the Nels MatSon home.
\ Gunnard Longstrom, Francis Ludwig.
and Mrs. VIM. Ludwig made a trip to
Walker to visit with Miss Ebba Long
strom at the sanatorium.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
What Is This Golf?

Golf is a form of work made ex-
pensive enough for a man to enjoy it.
1t is physical and mental exertion
made attractive by the fact that you
have to dress for it in club house.
Golf is what letter carrying, ditch
digging, and carpet beating would be
if those three tasks had to be per-
formed on the same hot afternoon.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05

"Sir, er-that is, would like to
er-that is, mean have been going
with your daughter for five years"
said young fellow to her dad when
the old man cut in with: well,
whaddye want? A pension?"
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05

Advertisements in the Askov Amer
lean will save you the price of the
paper several times over each year.
umns of the Askov American.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-04-05
Recipe.

Were you excited when you first
asked your husband for money!"
"Oh, no, l was calm and collected"
Scranton Times.
The Washington times., 1934-10-09
Insurance Issues
Again Go Higher

Insurance stocks in the New
York City market were again
higher during the past week. The
aggregate value of 20 leading fire
and casualty insurance issues, &C.
cording to Holt, Rose & Troster.
amounted to $450,331,000 on
october S, compared with S445,-
294,C00 on September %, an in
crease Of $5,O37 900, or 1.13 per
cent.
The current average yield of the
20 issues of 400 per cent COM
pares with 40 per cent week
ago. The current market value
is equal to Ill times the current
liquidating value. against 1.O9
times on September %.
Combined operating earnings
from underwriting and net invest
ment income are now 1921 per
cent on market, as compared with
1892 per cent at the close OF the
previous week, and based upon
current figures the issues are
quoted at an average of 9.8 times
their combined operating earn
ings, against 81 times on Sep
TENDER %.
The Washington times., 1934-10-09
FREE ACCOUNT
RULING MADE

The Federal Reserve Board has
issued supplementary rulings in
terpreting sections of it's regula-
ton T governing margin broker
age accounts.
New purchases may be made in
restricted accounts if additional
margin sufficient to meet the re-
quirements of Section of regula-
ton I is demanded and OBJ,
tanned within the time allowed,
even if the account does not thus
become unrestricted" The time
limit is as quickly as possible and
in all events before the expiration
of three full business days" Sat
urdays and holidays are excluded
from the three-day calculation.
This ruling was issued to sup
plement sections cd and (e)
of regulation T.
A broker who permits a custo-
mer to effect transactions in un-
restrict accounts which would
make the account restricted and
then fails to obtain the required
margin within the three-day limit
will violate the regulation, the
board has ruled.
The broker will not commit a
violation if the account is "other-
wise brought into conformity with
the regulation or within said three
days period an extension of time
is obtained as provided. . in Sec
ton (e)."
The extension may be granted
by a regularly constituted COM
mittee of a national securities ex-
change of which the broker is
member for maximum of 10
days if the committee is satisfied
the broker is acting in good
faith"