Evening star., 1962-01-11

Lie lIlQu6SC, WHICH WOulQ
of Delegates sitting as a CO
requested by Delegate Garlic
Georges. Mr.. Sickles, candidate
for nomination for Maryland's s
new Congress at : large seat
said he was "disgusted and
appalled," at recent revelations
about the savings and loan
business.
Delegate Blair Lee III, Demo
crat Of Montgomery and chair
man of that county's delegation
said he believes such an in
vestigation would be beneficial
in getting at the truth and
sorting out the rumors.
"The people have a right to
know what is true" said Mr..
Lee.
Mr.. Lee, who is running for
nomination for United States
Senator, and the ticket with
which he is associated in the
Democratic primary have been
highly critical of Gov. Tawes'
handling of the savings and
loan matter. Yesterday, Mr.
Sickles Joined that ticket.
Sees Time Short
The chairman Of the Prince
Georges General Assembly del
egation, Lansdale G. Sasscer, jr.
said he thinks savings and
loan is being handled ade-
quately by the State attorney
generals office. He said he
does not think the General
Assembly would have time at
its 30-day session which begins
next month to handle an in
vestigation.
Everybody is working
against the clock at a 30-day
session" Mr.. Sasscer said. He
said that if the attorney gen.
erals office thought it needed
help, the General Assembly
might properly get involved
but there is not enough time
in a 30-day session"
In Baltimore, Marvin Man.
del, chairman Of the city's big
delegation, said he sees NO
need for a grand inquest.
Delegate Edward ]. McNeal,
chairman Of the House Bank
ing, Insurance and Social Sc
curity Committee, doubted that
the House has "the facilities or
procedural knowledge" to con-
duct an investigation into q
complicated financial field.
Warns of Chaos
"The integrity of the vast
majority Of sound savings and
loan firms has to be preserved
Mr.. McNeal said. "A hySterical
approach could throw the en-
tire industry into chaos"
The grand inquest provision
Of the State constitution is
seldom used. Under it, the
House Of Delegates has broad
authority to take testimony
and subpoena persons and
records.
Other developments on the
Maryland savings and loan
front were these:
Senator Beall, Republican OF
Maryland, has sent letters to
heads of seven Federal agen-
cies asking for information
about savings and loan opera
tions and asking what control
the agencies have in this field,
The letters went to the JUS
tice and Post office Depart
ments, Federal Trade Commits
sion, Home Loan Bank Board,
Federal Housing AdminiStra-
ton, Securities and Exchange
Commission and Veterans Ad-
ministratioan.
Seeks Information
Senator Beall is seeking in
formation on whether Federal
laws have been violated, on
savings account insurance sta
tistics and procedures, on fed
orally insured loan operations
by savings and loan aSsocia-
tionS, on sales Of stock by saw
ings and loan association, on
advertising by associations and
on use of the mails.
Ten residents Of Frederick
County, who had savings in the
Christmas Club account Of a
firm now in receivership, filed
a petition seeking preference
in distribution of any assets in
the future.
They seek to have themselves
declared creditors, arguing that
as members Of the Christmas
fund they were not owner"
members Of the association in