CBS Evening News for Friday, Oct 19, 1973
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(Studio) In San Diego, federal government declares C. Arnholt Smith's bank insolvent; San Francisco, California, bank buys it instantly.
REPORTER: Roger Mudd
(San Diego, California) Customers unworried about bank's changing owners, but shareholders concerned. [President United States National Bank James MULVANEY - says shareholders to recover if assets are collectable.] [In August 1973, C. Arnholt SMITH - states his friendship with President doesn't mean President has bad friends.] [US Comptroller of Currency James SMITH insists decision to declare Smith's bank insolvent unquestioned by White House] Arnholt Smith's worries not over with bank sale; Smith must appear on fraud charges brought by Securities and Exchange Commission Smith's fortunes crumble.
REPORTER: Richard Wagner
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