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w egasj O c to b e r 4 ( t 1955 F i l e : 9 4 -30 0-4 Mr* J « W. Padden - Los A n g e le s « i t n ig h t I a tte n d e d a m e e tin g c a l l e d by 0.S . S e n a to r M a lon e, h e ld a t th e. E l Rancho Vegas H o t e l a t 5 :0 0 P.M. w ith th e f o l l o w i n g in a tte n d a n c e : M r t Mr. G r in d e ll - U. S. Lime H a rry M anette - V .P . F i r s t N a t io n a l Bank M r. A rt N e w e ll - S t a u f f e r Chem ical Mr. John M u e lle r - from Reno F red Gibson - WECCO F r i t z M cG on igle - Manganese I n c . Spence B u t t e r f i e l d - P r e s . Bank o f Nevada J u lia n Moore - B a s ic I n c . C y r i l W engert - V . P . Sou thern Nevada Power Co. Mr. H a rry D ie ! » Sou thern Nevada Power C©.« M r. H a rry A lle n - Sou thern Nevada Power Cb." M r. A. M. Smith - A d m in is t r a t iv e A s s is t a n t t o Sen. M t Malone Mr. A p p le g a te - T ita n iu m M e ta ls Mr. Mr. Mr. Mr. Mr. and r e p r e s e n t a t iv e s o f th e FHA from Reno and Las V e g a s , 4 S,®na^ ? r a d v is e d t h a t about te n days ago th e FHA in W ashington o r d e re d th e Reno FHA O f f i c e t o suspend , r commitments o f lo a n s on lo w c o s t r e n t a l h ou sin g in Las Vegas and C la rk C ou nty. m S e n a to r M alone s t a te d th e rea so n f o r th e su sp en sion was accou n t o f a s u rv e y made by an a n a ly s t f o r th e FEA, The s u rve y showed Las Vegas as a one in d u s tr y tow n, nam ely tn e t o u r i s t t r a d e , m aking no m ention o f in d u s tr y in t h i s a r e a , The FHA In a l e t t e r t o t h e i r Reno O f f i c e s t a t e d t h a t th e s u rv e y showing a one in d u s tr y tow n , and w ith th e a d v e rs e p u b l i c i t y show ing wLas Vegas B ustw. t h a t th e su s­p en sio n was l a o r d e r . S e n a to r M alone s t a t e d t h a t he f e l t g r a v e con cern o v e r t h i s move accou n t when t h i s su sp en sion i s made p u b lic , t i e d in w ith th e a d v e rs e p u b l i c i t y g iv e n t h i s a re a in th e W a ll S t r e e t J o u rn a l and v a r io u s a r t i c l e s * ™ p u b lic s eye, appear t© s u b s ta n t ia t e th e s e w r i t i n g s . He f e l t t h a t La® V egas i s news, and t h a t t h i s k in d o f news w ould s e l l , and i t s i g h t have a ten d en cy t o in flu e n c e E a s te rn in v e s t o r s t o reconsider ot? w ith d ra w from in v e s tm e n ts in t h i s area. Mr. Butterfield s t a t e d t h a t E a s te rn banks had purchased large blocks o f h ou sin g lo a n s ar@a* that with the above, it could definitely h u rt th e growtn of this area. Senator Malon® felt that the various present. m r i m a grtjfc deal at stake in this area, should be a&vised and see what could fee worked act this m@v®» It wm§ suggested that as unbia seodut anta@l y©s@twt®r*