Evening Star Newspaper, November 15, 1935, Page 30

B—6 VAN SWERINGEN BLANED A LSS $3,438,016 Missouri Pacific Deal to Bring Group Up for Inquiry. By the Associated Press ST. LOUIS, November 15—O. P. Van Sweringen, Cleveland rail- road magnate, and five other Missouri Pacific Railroad Co., officials are to be examined next week concerning transactions in which the railroad suffered heavy losses on purchases of $3,438,016 of its own stocks and bonds. An opinion filed yesterday by a ¥ederal Court special counsel, Fred L. Williams, asserts Van Sweringin is personally liable for the losses suffered. The opinion states Van Sweringen, while Missouri Pacific board chair- man, acted without authority in purchasing the stocks and bonds on the open market in 1930 and 1931 for a subsidiary of the road. Accounting Proposed. An accounting was proposed to determine the exact losses, but mar- ket quotations indicate they will total more than $2,000,000. ,common stock involved and reduce Circuit Judge Charles B. Faris, The Missouri Pacific ceedings pending in Federal Court to effect reorganization. The opinion recommends that trustees of the railroad seek to have the subsidiary, the Missourl Pacific Transportation Co., recover from Van Sweringen. He saild if the subsidiary does not move for recovery within a reasonable time it will be for the trustees to proceed. vember 20. Officers to be examined are Van Sweringen, Leonard P. Ayers, Alva Bradley, John Sherwin, jr.; G. A. Tomlinson and William Wyer, Lack of Authority. ‘Williams stated the stock and bond purchases were not authorized by formal action of the Executive Com- mittees of either the railroad or sub- sidiary and were not discussed at di- rectors’ meetings. ‘The opinion said Van Sweringen explained that stock purchases were made to reduce capital liability of dividend liability on the preferred. It was asserted the transaction would increase the parent company’s surplus by $6,546,195, and justify & common stock issue to exchange for accumu- lated dividends on the preferred. Van Sweringen explained, Williams said, that he bought International and Great Northern bonds at s dis- count with the idea that their pur- chase would result in a reduction in THE EVENING STAR, sWASHINGTON, D. C, FRIDAY, NOVEMBER 15, 1935. ", a‘w % % O e ’ Brings You . Avenve"=Tih, Sth and O St Choose Your FUR - COAT - from this special group at— 40 SAMPLE (O Williams, a (ormer} Missouri court | rental his company would have to pay Judge, filed his opinion . with U. S.!on leasing I. G. N. lines. 77 $89 to $139 Values —Now'’s the time to buy a fur coat ... Values are better, coats are finer than in years—due to the prolonged warm weather. In this group you’ll find coats of such fine furs as: Kann's Kapitol Kandy__ Salted Mixed Nuts___ Chocolate Rimmed Cocoanut Kisses___27¢ Lb. Kann's—Street Floor Seal-dyed Muskrat ed Lamb (known as American Broadtail) nd Silver Muskrat Originally $59.50 to $79.50 Our First Sale of the Famous “GLENSHIRE” Plaid Black Coats For Junior Misses 15.99 $19.75 values —Tweeds — Fleeces — Plaids — Checks — Mixtures — Herringbones — Monotones— Foot Ball shades—Reefers—Swaggers— Strollers. A veritable kaleidoscope of fabrics, colors and styles! Every coat joyously young—and beautifully tailored. Sizes 11 to 17. Smart Set Shop—Kann's—Second Floor. SALE OF CHILDREN'S BOOKS Smartly Combine Fine TMA - . e O Fabrics and Beautiful Furs! collection of h}“:OKSt that will appeal to chfldrexeo of ];l"‘; E i ages. With Christmas so near, we urge you vi * oy o - ;5 3 : A our Downstairs Bookstore . . , it will be a revelation —The unseasonable warm weather is respon- to you to find such fine books at such modest prices. sible for this big coat value! And to make the Beautifully lllustrated Books values even greater, we’ve added forty sample coats—every one a smart style, fashioned Each one § of fine woolens by Botany and Julliard with boxed l.l stunning furs—lavishly or more conserva- —A wide variety with splendid illustrations by well- : tively used. Black, brown, green and wine!” Natural Squirrel 5 A g - i 3 known artists. Nicely boxed, and originally pub- ; Don’t wait—or you'll miss a rare opportunity lished at much higher prices. p 4 Dyed Squirrel to get a fine coat at a small price. Juniors’, A Child’s Book of Old Verses : : i Skunk misses’ and women’s sizes, but not all styles A Very Little Child’s Book of Stories g H i Natural Fitch A Child’s Book of Country Stories in all sizes. A Child’s Book of Modern Stories : Silver Gray Fox Platinum Wolf Coats that Furs Include: Persian Lamb Genuine Beaver Illustrations by Jessie Wilcoz Smith Kann's—Second Floor. Stories by Juliana Horatia Ewing Stories by Mrs. Molesworth FASHIONS For After Dark— Pictures by ‘Bdna Cook Alice’s Adventures in Wonderland lilustrated by G. M. Hudson Classics for Boys and Girls 3 for 69¢ Boxed as Sets—Cloth Bound Black Beauty A Dog of Flanders Robinson Crusoe In the Special Sale of Better DRESSES at 12 $16.95 to $19.75 Values Little Men Little Women Old Fashioned Girl Hans Brinker Swiss Family Robinson Adventures of Tom Sawyer Heart of Gold At the Little Brown House - The Lilac Lady Pinocchio King Arthur Moby Dick These Books Special at a0e¢ e Rliyme Time for Children, by Emilie Poulsson. For- 50 merly published at $1.50 c The Six-Year-Old’s Story Book, by Kathleen P. Stone. 50 For children, 6 to 10. Orig. published at $1.50_.____ c The Totem Pole and the Tales it Told the Children 50 of the Northwest, by L. W. Mayol _ c Stories from Uncle Remus, by Joel colored illustrations by A. B. Frost.. The Forest Party, a Louis Moe Picture Book colors. Published at $2.00. Now The MILNE Books Now in the $1.00 Edition —“When We Were Very Young” ... “Winnie the Pooh” . . . “The House at Pooh Corner” ..., “Now We Are Six , . . all with Shepard Drawings. anmnA he Avenue"==Tth. Sth and O 0t Downstairs Bookstore. > 4 ~—The thermometer has been 'way up high and the dress business has been ‘way down low! The result of this un- seasonable weather is a sale of exquisite new dinner and after-dark fashions that you’'ve been reading about in all the style magazines—individually selected and drastically under-priced. ©® Gleaming Lamé and Lamé Combinations © Demask Setins OCrystelle ©® Metel Laces © Transperent Velvets © Hemmered Seting ® Metelasse ® Mess Crepes © Metel-shot Febrics ® Sizses for Misses end Women *Better Dress Shop”—Kann's—8econd Floor.