Show r ' f V - THE SALT LAKE TRIBUNE FRIDAY MORNING FEBRUARY 10 1&4 Noted Cartoonist PECORA BARES Guarded Against Kidnaping Gang STOCK POOLING TO PAYLOANS A Roftinf Ate Sli8 — Raise— $450000 -- Agents in Iowa Notes Senate Told WASHINGTON Feb te DES MOINES Feb 15 police tonight guarded Jay N Darling nationally known newspaper cartoonist and sportsman following reports that he was next on gang-'- s cf-ia tended 'kidnap-vi- e list tims Secrecy veiled investigation by state and federal officers but Federal Agent O C Dewey announced evidence of a carefully planned plot to abduct Darling had been discovered In their effort to provide every safeguard the officers kept the cartoonist’s whereabouts secret The purported plot was discovered while Darling was returning from Washington where he attended a conference of President Roosevelt's wild life conservation committee A telegram signed with an allegedly fictitious name asked Darling when he would arrive in Chicago and where he would stay Officers indicated they had traced the telegram to a supposed Chicago gangster Federal agents guarded Darling while he stopped in Chicago and escorted him to the Iowa border where state officers joined him Since his return to Des Moines last Wednesday the state agents have been with him constantly agliilil® m M 6:10 PM Jill MV-Sta- 15 intended to show the New York Stock exchange has not guard- - that governmental regulation Is needed was presented before the senate banking committee today by its counsel Ferdinand Pecora From Frank A Altschul chairman of the exchange’s stock listing committee Pecora drew an assertion that if the circumstances surrounding the issuance of additional stock by the American Commercial Alconol corporation had been known its application to list new shares on the exchange probably would have been rejected Behind this Issue of additional stock lay a story placed in evidence by Russel R Brown chairman of the board of pool operations dealing through dummies creation of subsidiary corporations one of whose assets was $380000 in good will and process licenses 'and profiting by officers and directors of the company through the transactions While actually continuing its of Wall street practices the committee now also is holding hearings on the Fletcher-Rayburbill t$ prohibit numerous stock mar- Leviathan to Go Back ket methods and place the stock exIn Service When Needed changes under the supervision of the federal trade commission NEW YORK Feb 15 M1)— The LeBalance Sheet Produced Pecora produced the balance sheet viathan the largest American pasof one of the subsidiary corporations senger liner will be put back into for the purpose of which 15000 service just as soon “as we know shares of American Commercial Al- that it will pay and we have any cohol were issued Its assets showed need for her” P A S Franklin $270000 in notes receivable $25000 president of the International Merfor $25000 for machinery cantile Marine company said to- and inventory equipment and $380000 for good dayFranklin denied recent reports that will license and process This statement the attorney said was fur the £iner was being allowed to fall ' nishfed by the stock exchange while intcfdisrepair at her Hoboken N J Altschul said his committee never pier “It is not true that she is run down had seen jt and in fact it had not been submitted until some time after and neglected” he said “The fires the application for listing the 15000 are kept up all the time and all repairs are made whenever it is necshares had been granted "If you had seen this would it essary” have excited your suspicion?” Pecora paid over the 25000 shares to Bragg asked in execution of the option “Without the slightest doubt” AltMeanwhile Bragg was operating a schul replied saying the notes payin which Brown and other ofable and good will items certainly pool ficers and directors of American would have been investigated The marCommercial participated Pecora seeks to trace before the ket price of the stock- had advanced committee the phenomenal jump of to between $30 and $33 Brown said American Com mercial Alcohol his own was $20000 but he shares from $18 to $89 late last added he profit had sacrificed more than and in the summer spring early only that amount in protecting from tjme to be followed by a crash Options to time " the interests of the comend pool operations he contends pany’s stockholders were an Integral part of the rise Brown’s associates $450000 Brown told roughly the following forPaying the stock acquired under the opv story: tion Bragg enabled them to pay off Company Needed $450000 the notes with which they had taken The company found itself in need the stock of the subsidiaries There of $450000 to meet maturing bank Upon the "American Commercial Ali loans On May 2 an option on cohol corporation then owning one shares was executed to Thomas outright and the other 65 per cent Bragg a Wall street operator at $18 borrowed the $450000 from the suba share At the same time associ- sidiaries and with it met its maturates of Brown whom Pecora insisted ing bank loans were “dummies” signed unsecured Pecora insisted the proper way to notes one for $170000 and the other have raise! the additional capital was for $270000 with which they pur- through an offering of new stock' to chased 100 per cent of Maistel Lab- the corporation’s existing stockholdoratories Corporation stock and a ers as was done later to the extent controlling interest in Noxon Corp- of 40000 shares Brown replied that oration' both formed to deal in chemi-caL- s when the option was given to Bragg allied with the industrial alco- conditions made this impossible hol business GRANGE GIVES DEGREES American Commercial issued 25000 Shares of its own stock and exALBION Idaho — At an Albion changed them for the stock in the grange meeting in the high school two other corporations acquired by Tuesday night 15 candidates were Brown’s associates The latter then given their third and fourth degrees Hj —in Friday Store Hours: 8:50 A Dj8d9&ed-byJftdeMll--- for StRRtDlYiarlri iocpagiQ Special Values Plot to Abduct Darling 1 With Your Initials All for Bright Prints! 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