Chicago Tribune from Chicago, Illinois • 80

-ft- CHICAGO TRIBUNE, THURSDAY, OCTOBER 6, 1966 12 Section 3 SENATE GROUP S. P. Makes Flea to Own Chicago North Western pair Sept 19. Authorities said they conspired to sell S.5 million dollars worth of Continental stock at a profit to Wolfson of about 1.5 millions. REALTY SEEN MOVING INTO Rock Island's South Lines Gets 1965 Safety Award PLEAS BY LOUIS DOMBROWSKI rCMoM TiHim Pim Sanrtcal It was pointed out, however, that much of the increase in ON TAX CREDIT Washington, Oct 5 The Chi cago North Western rail WOLFSON, AID DENY STOCK FRAUD CHARGES New York, Oct 5 (Financier Louis E.

Wolfson, 54, and an associate, Elkin B. Gerbert, 48, pleaded innocent today to federal charges of stock fraud. The defendants, both from Florida, are -accused of federal securities violations in the sale of common stock of Continental Enterprises, from 1960 to 1962 punishable by up to 95 years in jail and in fines. A grand jury indicted the reportable accidents reflects INFLATION ERA Tight Money Blamed way today was given the E. H.

Harriman award for safety in the increased costs of labor and materials. ICC regulations BY PHILIP WARDEN. (CMcafa Trtbaea Pms Sarekt! Washington, Oct 5 Numer 1965 among the large class 1 Island at Tucumcari, N. 21, on this route. 2.

"Economies and efficiencies" of the Southern Pacific would be available on the Rock Island's southern lines including the S. P. freight car fleet, management, financial backing, and its new computer system now being installed. He said these economies would enable service to be provided at the "lowest rates" and would help meet truck competition. I PACIFIC STOCKS Closlnf prfcM if aelaetea" Itsaat tlm Pacific Cm st stock axcfcaata.

Nat Nat Stock Close ctoa. Stock Cloaa chea. MerPa 1.00 VictEqpt ISW 1 Quatad la doflara and canta. BENTON HARBOR FRUIT Banton Harbor, Oct. 5 Spedilj Prices aald an the Benton Harbor fruit market today: Apples, bu, U.

S. one, up, Jonathan, S2.25-2.35; bu, cartons. $2.00 red delicious and Mcintosh, S2.S0; 10-4 lbs, U. S. one, 2W up, Mcintosh, $2.50 open bu, unclassified Jonathan, Sl.35-l.75i red delicious, S2.00-4.00; golden delicious, Sl.M-2.50; delicious, S1.7M.25i tomatoes, 8 at, Mich, one, 2 qts, Mich, ana, S2.WM.00 require reports on all accidents Acquisition of the southern part of the Chicago, Rock Island and Pacific railroad by the Southern Pacific railroad would be of "direct and immediate benefit" to shippers served by the lines, Benjamin F.

Biaggini, S. P. President, said yesterday. He testified at hearings before Nathan Hitenic, Interstate Commerce commission: examiner, on the proposed merger between the Rock Island and the Union Pacific railroad. If railroads.

ous industries pleaded with the However, W. Bush, involving $750 or more in dam ages. ICC Emphasizes Safety Senate finance committee today for continued use of the in by Researcher chairman of the Interstate Com vestment credit, the tax provi "Since derailments are most merce commission, in present-ing the award called for in sion President Johnson wants The real estate market Is moving into an inflationary often caused by defects or failures of track or equipment: the creased emphasis by railroads in safety to "help offset the ris period, James C. Downs, chair commission believes these de ing trend" in train accidents. the U.

P. bid is successful, the man of the Real Estate Re-aearch corporation, said yes The award to the North West Southern Pacific proposes to ern was accepted by Ben E. try a little tenderness suspended to fight inflation. Theybad addressed similar pleas to the House ways and means committee without success. Only the farmer and the small business man got any concession when the House passed the anti-inflation bill last week.

The now being readied fects and failures demand close attention from the railroad industry," the ICC chairman said. At the same time, Bush said, ran passenger travel was nearly 2Vx times as safe as travel terday at the opening of the 50th annual convention of the Illinois Association of Real Es Heineman, chairman and president The gold medal and buy 3,500 miles of. Rock Island lines south of Kansas City for 120 million dollars. The Chicago and North West tate Boards. certificate honored tne Nortn Western's record of 83 reportable accidents In more than 10 ern railway also is seeking con Almost 2,000 persons, a attendance for an I.

A. by bus, more than five times as safe as by domestic air million hours of motive trol of the Rock Island. If it is successful it proposes to sell for the Senate, suspends the 7 E. B. convention, are attending 2,900 miles of Rock Island lines meetings in the Sherman lines, and 34 times safer than travel by automobile.

He said there were only 12 fatalities per cent investment credit for IS months. Leon Eyserllng, top economic south of Henngton, to tne Harriman at Ceremony Attending the ceremony for House. Atchison, Topeka and Santa Fe railway for 100 million dollars. last year in rail travel against the first time was W. Averell 'A Downs said the shortage of mortgage money which is de 110 on buses, 205 on domestic Harriman, ambassador at In his direct testimony filed adviser to President Truman, said the investment credit and accelerated depreciation should be repealed.

air lines, and 32,700 in automo with the ICC, Biaggini said ad large, for whose father the award was established in 1913. vantages of the S. P. ownership biles. Other medals were awarded "We should enact tax legis Bush commented that in the of the lines would be: lation to increase annual fed 1.

It would create a single- first seven months of 1966, the monthly average of reportable to the Maine Lines of the Canadian" Pacific Railway, representing smaller railroads han eral revenues by 5 to 10 billion iiil line route instead of a two-line dollars, and possibly more," train accidents exceeded 500 for route between Los Angeles and dling both freight and passen Kansas City. The S. P. cur Kyserhng said. "Such taxes, if properly imposed, would combat inflation and, even more gers, and to the Bessemer and the first time, totaling 542.

This compared with a monthly average last year of 497 and only rently connects with the Rock Lake Erie railroad, represent ing lines handling only freight 341 in 1961. importantly, would provide revenues for essential domestic fective In meeting Viet Nam war needs. purposes on top of rising inter draining the available money OWAITtMS pressing home and apartment bonding results in inflationary price rental and trends. He started the keynote address with a review of the present economic trend, and said that while the country is at the peak of all-time prosperity, is also in the midst of a sharp capital deflation. For the 12 months ahead, Downs forecast a continuation of the mortgage money shortage.

"People ask where did the money go," he said. "The fact is that there is more money in the economy today than a year ago. He said the Viet Nam war expenditures, business expansion, and commercial and institutional construction is Harold Goldstein of Chicago, national obligations." supply. Joel Barlow, chairman of the vice president, Macninery Dealers National association, In addition, financial institu taxation committee of the Chamber of Commerce of the tions are finding more attrac wait radio 820 the world's most beautiful music asked for a higher tax credit tive investments for their funds for investments in used ma United States, opposed any than mortgages. He said the Mayor Daley, who welcomed the convention to Chicago, disclosed latest building figures showing total value of new construction in the first nine months in Chicago was a 75 per cent increase from ayearago.

Commercial, industrial, and institutional building valued at $205,794,015 is up 150 per cent for the corresponding periods. chine tools after the suspension period is over. change in the tax and economic policies he said have been ef- Bank of Oak Brook, of which he is chairman, has not made a mortgage loan since last No vember. The money is being used for short-term govern ment securities with a 6 per cent yield. There Is always "Something Extra" for you at HOME eDplhi(Q)oii dud fegge i life tag DIM NOW ISSUING dlflDvirDs? $5,000 (and over) 1 Year Investment Certificates $9,000 (and over) 1 Year Investment Certificates p-l I ox per annum per annum JA tospoM Sloppily issued after Oct.

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