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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Aug 26, 1949
Page
9
Santa Fe reported net income of 25,952,031 for the first seven months of 1949, down from 33,696,424 in 1948 but above 1947 levels. July earnings stood at 7,000,244, with the period showing a sharp improvement over the first half of 1949.
Mexico City authorities and US officials probe a gang flooding the country with nearly perfect US ten dollar bills possibly routed from Europe. Hotel Reforma found several notes two weeks ago andturned them to authorities. Enrique Sampietro, jailed in Mexico, is ruled out as the source though his gang may still be at large.
Federal Judge William Atwell ruled the Luscombe Airplane Corporation bankrupt with about 700000 in debts. The court noted a 450000 RFC loan as key to possible reorganization and cited three negotiations including deals with Boeing and TEMCO.Creditors will be gathered at a later bankruptcy hearing.
A tribute in Amarillo honors Railroad Commissioner Ernest O Thompson for leading orders that curbed physical waste and conserved petroleum resources. Andrew M Hensley reads the tribute noting Thompson helped form the interstate Oil Compact and supported conservation across states and the Texas economy.
The Veterans of Foreign Wars selected Chicago as host for its 1950 convention. Atlantic City failed to win, with New York and July withdrawing. In roll call Chicago earned 4 771 votes to 3 754 for Atlantic City, and leaders Clyde H. Lewis of Plattsburg and Charlie S. Ralls of Seattle advanced to national commander in chief and senior vice commander respectively.
In a five minute verdict a six man jury absolved Ernest Kirk of Beatrice Nebraska of reckless driving after his brakes failed causing a truck to ram through Laramie's main street injuring five people and wrecking nine autos before crashing into a cafe and bar.
Buenos Aires traces roots to its 1580 founding as a colonial city. The account notes the long history shaping its development and status in the region.
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