Evening star., 1937-04-18
FIDELITY OFFICIALS
WILL Be OPPOSED.
Meeting Tuesday to Air Pro-
test Against Places in
New Set-Up.

The movement to oust all former
officers of the Fidelity Building g.
Loan Association from any Official
connection with the proposed new
Federal Savings g. Loan Association
Will come to head at a public hear
ing Tuesday afternoon held by the
Federal Home Loan Bank Board.
The hearing is on a petition for q
charter to set up a new association
to buy assets Of the Fidelity and make
available IS per cent of funds.
Representatives of a certain group
OF shareholders OF the Fidelity already
have filed official protest against
having any Fidelity officials partici-
pate in the organization of the new
Federal Savings g. Loan Association.
The protest will be considered by the
board at the hearing in Room 1921
OF the new Post Office Department.
Twelfth street and PENNSYLVANIA
avenue, at 2 pm Tuesday If a
sufficient crowd shows up, however,
the hearing may have to be moved to
the Departmental Auditorium on
constitution avenue, between the
Interstate Commerce Commission and
the Department Of Labor.
Ihe hearing Is on the request for
a charter filed by IL men, including
some who had former connection with
the Fidelity.
Protest Not Aimed At Plan.
proponents OF the plan as it now
stands will be represented at the
hearing by Walter M. Bastian. attor-
ney for those who are asking for a
charter for the new Federal asso-
ciation.
Identity OF the opposition to the
f1oellty members on the organizing
BOARD has not been disclosed. It is
understood the protest will not be
aimed at the general plan to set up a
new Federal association.
The objection is to be leveled at the
principle of having any one officially
connected with the new association
who was formally associated with the
management of Fidelity.
Originally the hearing was scheduled
to be held before the Review Com
mittee" of the Federal Home Loan
Bank Board, but it was uncertain
today whether this committee itsel,
will sit alone. A possibility has de.
veloped that some members Of thu
board itself may sit on the case.
Advocates to Be Heard.
Oscar Kreutz, chairman OF the Re.
view Committee, will take a prominent
of11ciai part In the hearing, and ma,
preside. Proponents OF the plan will
be given the first opportunity to b,
heard Bastian probably will be tn.
spokesman
After proponents have been heard
objections will be asked for, and 1t i
then, according to present prospects
that the protest now on file will b,
brought officially out into the oper
for THE first time Who will appear
for the protestaAts has not yet beer
disclosed.
Public notice Of the hearing wa!
published as special notice" ad.
vertisement, on April in The Eve.
ming Star. 1t stated that the hearing
would be held at the place and dat.
specified, upon the petition Of tn.
undersigned for a charter for Z
Federal savings and loan associa.
ton to be organized in the District
Of Columbia.
ANY interested party read the
advertisement, may appear In per-
son or by attorney and submit any
evidence at such hearing pertinent
to the questions at issue, provided
he shall have given notice Of in
tention to appear, and shall have
filed specific objections at least i've
days before the date of the hearing
In lieu Of such appearance, evil
dence may be submitted in writing"
Bears Signatures of IL.
The special notice was signed BY
the II men whose names are on the
petition for a charter: George L
Berry, Ralph w. S. Bonnet, Marcus
Borchardt, John L. Fletcher, Car
Henning, Edwin Jacobson, w. D
Jameson, John c. Koons, Harry j
Miller, P. J. schardt, H. p. Somer-
vile, Thomas Somerville, Sd, and
Walter M. Bastian, attorney.
Koons died recently, leaving . Va
cancy on the list Of applicants. Hi
place has not vt been filled.