Corsicana Daily Sun from Corsicana, Texas • Page 2

TWO THE CORSICANA DAILY SUN, FRIDAY, JANUARY IS, 1987. MORGAN SYNDICATE SAVED INTERESTS OF VAN SWERINGENS I 1 Jan. Evidence that a J. P. Morgan banking syndicate "rescued" the Van Swerlngen empire in 1930 was Unfolded today before the senate railroad Investigating committee.

William C. Potter, board chairman of the Guaranty Trust company of New York, testified part of a $39,600,000 loan made by the Morgan group was used to closo put a $19,000,000 Van Sweringen account with Paine, Webber and Company, New York stock brokers. Describing the situation as ''very delicate," ho said this action kept the Van Swerlngen interests from "dumping a million shares of Allegheney Corporation atock on the market" to protect their margin requirements. "Unloading" of such a huge block of stock might have started a general market decline, Potter explained. Earlier Francis Ward Paine, of Paine, Webber and company, testified the Van Swerlngen accounts made up "20 to 25 per cent" of tha firm's total business, and that, they were "in a state of unusual tension" In 1930.

Chairman Wheeler (D-Mont.) katd yesterday In a Van Sweringen corporation used proceeds of a $30,000,000 note Issue to buy ''speculative securities" of other Van Swerlngen firms. EXPLOSION Complaining about bad luck or They said the automobile In the women were trapped was blazing when they arrived. A truck standing nearby also was in flames. The truck was to transport workmen to the Job. Hospital attendants said the condition of the other four workmen still In the hospital was At the Gulf station near the sjcene of the blast, officials said an investigation would be made.

They said first reports were i (that a torch being used to weld a patch on the line set fire to the oil as the line burst, scattering flaming fuel over the occupants of the car. Cause of Break Unknown. They said they did not know the cause of the line's bursting. The leak in the line was discovered at about 11 o'clock yesterday morning, officials said. An emergency crew was sent tout In the afternoon to repair the break.

Mark Gist, Semlnole, one of the workmen, who received a slight burn on the-right hand, gave tha first eye-witness account of the "It all happened so quickly," he said, "like a flash of lightning, no one knew exactly 'happened. "One minute those women were fritting In 'the automobile 'alive I "In the next they were a mass if flames. "There was no move, no Death was, Instantaneous. "The bodies '-were burned 'so djy that when-they were taken im the wreckage they bore to human- form. icy were cremated.

"The car Itself looked like It 'SJbad been'thrust into a blast furnace. There was nothing but a jtaelted mass of metal. "One women had a llt- uv the. car with her. It up too." jWonian Collected Nobel Peace Cash OSLO, Norway, Jan.

(An unidentified German woman arrived here today and collected Nobel Peace Prize money re- awarded to Carl von Osslet- /J.iky, Invalid German pacifist. Nobel committee turned A lover to her 1,000 kronen (about an( transferred the balance 10 kronen (about $37,000) to German Kommerzenbank. Tho said she was traveling In- Sjkr "180,000 (Hj Sick and Convalescent. 9: Daniels was reported to fine today at the Na- Sfevarro Clinic where he an operation recently for endlcltls. S.

Clark of Blooming Grove, ho suffered a fractured hip In (all on the Ice Sunday, was -yiwrttag fairly well Friday after- jj'jpoon at the Navarro Clinic. IGET ACQUAINTED WITH BEAUTY FIRST PRIZE 1 kullw ROCKS Mty Flour Uwpooiu K.Vh ol ull 1 Ik. (mad Kf. Mlj bull.r, mjw, In mlitnt Std flour, ull 'Pteo tko und dlltl thil boett flourod, YOVR FOR Flour. A Small House Seems Big When Square Plan's Used The space-saving square plan Is seldom worked out In a more efficient solution for the small home than In this pleasant, white frame cottage.

A carefully designed entrance motif tops off the well proportioned exterior. The two bedrooms, entrance hall and adequate closet space are remarkable, considering the limited size of the plan. The service entrance Is well placed. The deeping quarters have the necessary privacy. The second floor can be used for storage or an extra bedroom.

Architect John J. Flad designed this house which was built at Madison, for $3,775. It was Included In a group of unusual small -homes selected by the Forum, 135 East 42nd street, New York, N. Y. FORMER MAYOR OF ENNIS DIED ATHENS WEDNESDAY NIGHT ATHENS, Jan.

services for W. E. Bradley, aged 79 years, former mayor of Ennls, active business man in Ennts ana Athens for more than a half century, who died here Wednesday night, were held here Friday morning. Ill health caused his retirement as secretary and manager of the Ennls Retail Merchants association several months ago. A native of Madison, Texas, Mr.

Bradley was In business hero -for 28 years prior ot entering the mercantile business In Ennls 30 years ago. He was Ennlg city tax assessor and collector at one time. Mr. Bradley was a leader In the work of the Odd Fellows lodge and bad held high posts In that order. Surviving are five daughters and three sons.

Georges Bonnet Be U. S. Ambassador PARIS, Jan. (JP) Bonnet, former French minister of finance, announced today he had accepted the post of'ambas- sador to the United States. "I will leave for Washington soon," he said.

"When I go, however, it will be simply as ambassador. I will be charged with no special mission concerning war debts." Bonnet will replace Andre De Laboulaye, LEGISLATURE (Continued from Page One) ed constitutional amendments already Introduced, readied himself f6r Innumerable more and worked on committee appointments, which he said he would not complete until after the Inauguration. The.senate's lawmakln; machinery was primed for action with 62 bills and four constitutional amendments Introduced, all committees appointed and only new rules of procedure awaiting adoption. The rules were in committee, the body for the present operating under old rules. Fireworks were expected next week when Representative Graves, veteran investigator from Georgetown, presses his demand for an inquiry into disbursements of the Texas Gulf Sulphur company for public Your Florist Let us be your florist In 1987.

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