Salt Lake Telegram | 1930-07-06 | Page 8 | Solon Corrects Information on Trust Firms

I S SOLON lON CORRECTS fiRMS Texas f ex s Democrat Receives Rep Reports on Railroad Investments w WASHINGTON ASHL July 5 AP AP- AP Representative Raj Raburn burn Democrat Texas Texis said today that information submitted to him in a a. house committees committee's committees committee's com corn Investigation n of railroad ownership had led to toan an error In n re reporting re reporting reporting re- re porting that investment tr trust st comp companies com coin p held certain percentages of stock in a n number o of or railroads Ray Rayburn bum said the percentage of securities held ld by lh tho investment trusts had not yet et ct been determined He added that the tho inquiry which Is being made by the In Interstate commerce committee had disclosed however that the trust companies had shown a u. preference for securities scour scour- url url- ties in twelve twelve- important railroad systems Tho The Texan said thirty six Investment investment invest Invest- ment companies held se securities securities' In Inthe Inthe inthe the New York Central four thirty In the Atchison Topeka Santa Santu Fe three thirty In tho the Union P Pa Pacific Pacific twenty-nine twenty in the Pennsylvania Pennsyl vania twenty In the Baltimore Ohio eighteen In the Chesapeake Ohio eighteen in the Chicago Rock Island Pacific eighteen eighteen- In tho Southern Pacific fifteen In the Canadian P Pacific fifteen In inthe the Missour Missouri Missouri Mis Mis- sour Pacific and arid fifteen In th the New NewYork NewYork NewYork York New Haven Hivon Hartford Rayburn is tanking ranking minority member of ot tho the committee which Is Is' seeking to determine actual ownership owner owner- sh ship p of railroads with a u. vie view to de determining determining de- de 1 if it additional legislation is needed for regulation by the interstate interstate inter Inter- state commerce commission