Independent from Long Beach, California on April 4, 1962 · Page 13
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Independent from Long Beach, California · Page 13

Long Beach, California
Issue Date:
Wednesday, April 4, 1962
Page 13
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' D ' a a $ 24,278,658.28 VOTE OF CONFIDENCE Yes, on the First Day Back Under LOCAL MANAGEMENT BACK HOME WHERE WE BELONG Mr. T. A. Gregory, founder and president of Long Beach Federal, said, "I want to thank our many friends and customers who gave us this overwhelming vote of confidence. The increase In savings totaled over 24 million dollars on our first day back home. Our customers have expressed their desire to do business with the local management of Long Beach Federal." i r* After 16 years of controversy over the rights of the people and their association, all association differences with the Bank Board now have been settled. In the words of the settlement agreement the Federal Home Loan Bank Board does, "release, discharge and acquit Long Beach Federal Savings and its officers, directors, agents and employees, of and from any and all claims, causes of action, liabilities of every kind, character or description . . ." The management that through the years you have grown to know and trust is now back and waiting to serve you. THOUSANDS OF OUR CUSTOMERS withdrew their savings when the Federal agency seized this association in April I960. It is estimated that over half a million dollars was lost to shareholders who took out their funds before dividends were due. IF YOU WERE ONE OF THESE PEOPLE ·ANTICIPATED RATE PER ANNUM who lost their dividends as a result of withdrawing your funds between April 22, I960 and 'June 30, I960, you should file your claim with us. We want to reimburse our shareholders for the dividends they lost. TO GET YOUR ADJUSTMENT come into Long Beach Federal and bring some evidence you withdrew your money during this period . . . your passbook if you still have it. If this is not convenient, como in anyway and let us help you. A department has been set up especially to help you got your dividend adjustment. You do not need fo reestablish your account to get an adjustment. HOW TO REESTABLISH YOUR ACCOUNT if you were one of our customers and wish to reestablish your account with us and participate in the Association just bring in your passbooks or check and we will do the rest. SAFETY DEPOSIT BOXES-DANK BY MAIL-FREE CUSTOMER PARKING AT 345 ELM ST.

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