Salt Lake Telegram | 1935-11-15 | Page 10 | Van Sweringen to Face Face Quiz

VAN TO FACE QUIZ QUIL e. e r ST ST ST. LOUIS Nov No 15 UP O. A P- P O. O P. P Van S Cleveland railroad magnate and five other Missouri Pacific Railroad company officials arc are to be examined next week concerning conc concerning con con- c transactions in which the railroad suffered heavy losses on purchases of of ot 1 its own and bonds An opinion n filed yesterday y b by a federal court special counsel Fred L. L Williams asserts Van 14 Is i personally liable for the losses suffered The opinion states Van Ingen while Missouri Pacific board chairman acted without authority in purchasing the tho stocks and bonds bondson on the open market in 1930 and 1031 1931 for a subsidiary of ot the road An accounting was proposed to determine the exact losses but market market market mar mar- ket quotations indicate they will total total to total to- to tal more than Williams a former Missouri court j judge dge filed his opinion with U. U S. S Circuit Judge Charles B. B Faris Fans The Missouri Pacific has bankruptcy proceedings pending in t federal deral court to effect reorganization The opinion recommends that trustees of the railroad seek seck to have havethe the he subsidiary the Missouri Pacific 1 Transportation company recover from Van S Judge Fans Faris designated Special Master Marion Marlon C. C Early to examine the Uta railroad officials at a bankruptcy bankruptcy bankruptcy bank bank- hearing beginning in Clevel Cleveland Cleve Clove l land and nd November 20 Officers to 10 be examined are Van Leonrd Leonard Leonard Leon Leon- ard rd P. P res Alva Bradley John Sherwin Jr G. G A. A Tomlinson and William Wyer I I