Show ANOTHER LOAN Radio Dealer Cl ims Loss on n Chain w a NE NEWARK NEVAR VAR It N. N J J. J Jf July 3 tIP tIP- P- P Maxwell M. M manufacturer er of ot radio tubes and electrical apparatus said Baid Tuesday he lent Elliott Roosevelt in 1939 took as c collateral snares shares of Texas State Stale Radio Network stock which he said proved to be worthless worthless worth worth- less and received final and total repayment of or In 1941 Bilofsky pre president ident of the IndustrIal Industrial Industrial Indus Indus- trial Electronics Electronics' Corp of Newark of-Newark said the loan to the late presidents president's son Bon was pure and simple busi busi- ness The manufacturer said cald the tr transaction w was arranged ed by David G. G Baird of Montclair a York aNew New Nev York insurance man who he said approached approached approached ap ap- ap- ap him in behalf of ot Elliott Roosevelt when he was raising funds to purchase se the Texas network network net net- work worl His statement was made In response response re re- to queries about Westbrook published report re report re- re port that Baird lent young Roosevelt Roose Roose- v velt lt in November 1939 and arranged for the l loan an anby by Baird has been unavailable for comm comment nt at hla home or off office olce ice BU said he lent Roosevelt the money money monet to help him acquire the Texas network because he lie hoped t to get the radio tube and Incandescent incandescent incandescent cent ll lamp mp business of at the Texas stations and through them to pr promote mote his business relationships i In ui the radio field The manufacturer said he w was s snot not lamenting the he lost although he got no business from the Texas network He said he did not claim the transaction as a loss in his Income ta tax return Repayment of ot tho the was arranged by Baird Bilofsky re xe- Bilofsky s said id h he knew B Baird rit only In a 8 business way at the time of ot the loan but bilt knew him then and now as a fine tine and upright per per- son Bon He said he never had seen Elliott Roosevelt The was In a check given to Baird for tor relay to Roosevelt Bilofsky added f |