Evening star., 1961-11-28
Sheriff EVicts
Another Firm
For Rent Bill
By ROBERT GRUENBERG
Star Staff Writer

court-appointed receiver for the
Mutual Security Savings and
Loan Association.
The conference follows court
action giving the State permis-
sion to intervene in the affairs
of the third Washington area
savings and loan firm to be
beset by troubles in the last
month.
The firm, holding some $3.4
million of more than 1000
shareholders in its seven Of
fices in Montgomery and Prince
Georges Counties, was placed in
receiverShip last Friday.
Meanwhile. another savings
and loan association found it.
self in trouble with the Mont
gomery County sheriff's office.
Sheriff's deputies began NOV
ing the furniture out of a
branch office of the First
Charter Savings & Loan AS
ISOLATION, Inc, at 1901 Georgia
avenue, Silver Spring.
Eviction Ordered
They acted on the strength
of an eviction order signed by
Chief Judge Einar Christensen
of Montgomery County Peoples
Court. The order was obtained
by Harry Poretsky & Sons, Inc,
for $4,000 in back rent.
Marshall P. johnson, attor-
ney for the Poretsky firm, said
First Charter was Incorporated,
according to State records, on
April II, 1861, with their prin-
cipal office at 7942 Wisconsin
avenue. Bethesda.
The Silver Spring location
was to have been occupied June
l, shortly before Maryland's
new savings and loan regulatory
law went into effect. The
branch, which had a monthly
rental of $780,. never opened.
said Mr.. johnson.
The lease, he said, was signed
by one Robert H. Slatko, a
Florida attorney, and one of
the original board of directors.
Shortly afterward, said Mr..
johnson. he received a letter
from First Charters founders.
saying the firm had been sold
and that the new owners, would
communicate with him. This
never happened, he said. and
the eviction order went uncon-
tested at a hearing November
Is.
Plans to Quit
Earl Kunkel, of 1O525 Sweet
briar parkway, Silver Spring.
who currently heads what he
called an effort to get First
Charter into active operation.
said, my inclination is to for
get" going ahead with his plan.
and close the Bethesda office.
He said the office had not
done any business or taken in
any monies.
He learned of the eviction
from a Star reporter, ne said.
Mr.. Kunkel said he was un-
aware that a lease had been
signed for the Georgia avenue
premises, that he had not been
told this when he took over"
operation from Mr.. Slatko.
The latter obtained the char
ter, said Mr.. Kunkel. back in
April when all you had to do
was get three dogs and a cat
to apply" In the effort to
get started. Mr.. Kunkel said.
the Bethesda office was opened
in October.
Now, with a $4,000 debt dog
ging the firm at its outset, he
said he would quit, and let
the charter lapse.
Montgomery County Circuit
Judge Thomas M. Anderson,
who ordered the action in the
Mutual Security case after
a receivership petition was filed
by creditors and with agree
ment of Mutual Security's Of
ficers. allowed the State to
intervene following a confer
ence extending into yesterday
evening.
Receiver Praised
Assistant Attorney General
James P. Garland, who pre-
sented the States intervening
action, commended the re-
ceiver, Paul NJ. Coughlan.
Silver Spring insurance execu-
tive, as "a very fine man, a
good energetic receiver"
The purpose of the confer
ence." said Mr.. Garland, "is
to see if there is anything he
needs, or has overlooked, and
how we can help"
Also, he pointed out, it will
give the State a chance to re-
view the books and records of
Mutual Security.
Mr.. Coughlan was reported
in Prince Georges County, pre-
pairing to close the two offices
Of the association in Eastover
and ForeStville, as part of'his
program to cut costs and con-
serve assets.
The intervention brings into
inc this company with the
earlier action taken by the
State with the other two aSso-
'iationS involved recently in
'eceivership," said Mr.. Garland.
Mr.. Garland added that any
urther moves by the State such
is revocation of the firms
harter, will depend on an audit
# the books. In the cases in
diving the Family Savings g.
lone Loan Association and
dilitary Service Savings &
,oan Association, the two other i
inns which fell into receiver +;
hip, audits had been made !
rior to the State moving |
gainst them. 1