Texans face slim returns from U S Trust collapse
Senate inquiry widens as Texas investors seek refunds from U S Trust and Guaranty Co. Critics point to alleged solvency issues and rising legal costs. State Auditor Cavness appointed to oversee records. show-cause orders issued to related insurers. Land suit totals rise to recover $548,824 with 36 actions pending for $3.5 million. Big 1955 year for Texas economy contrasts with grim farmer outlook.
MENTIONED IN THIS ARTICLE
Senate
U. S. Trust and Guaranty Co
C. H. Cavness
State Insurance Commissioners
Renne Allred
Senate Committee
Pearson sparks Texas fury over U S Trust fraud
Texas officials led by Garland Smith of the Insurance Board shut the U S Trust and Guaranty Co offices after broadcaster Drew Pearson urged viewers to trust the firm. Smith, Attorney General John Ben Shepperd, and Judge Charles Betts say Pearson's Washington statements misled investors and the operation seems founded on fraud.
MENTIONED IN THIS ARTICLE
Austin
Texas
Drew Pearson
U. S
U. S. Trust and Guaranty Co
Garland Smith
Texas Insurance Board
John Ben Shepperd
Charles ©. Betts
Land forfeited lands to be sold at earliest date
The Veterans Land Board plans to offer forfeited land for sale at the soonest practical date. Jack R. Maguire of Austin is named executive secretary of the Texas Ex-Students Association, succeeding John A. McCurdy who resigned months ago. Two Houston families contributed 355,000 to improve the state's future $3,000,000 courts building. Mr and Mrs W L Clayton gave 50,000 and Mr and Mrs S M McAshan Jr 5,000.
MENTIONED IN THIS ARTICLE
Veterans Land Board
Jack R. Maguire
Austin
Texas Ex-Students Association
John A. McCurdy
Houston
W. L. Clayton
S. M. McAshan Jr
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Brady Nat
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Waco
U. S. Trust
All American Home Lloyds of
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U. S. Life Insurance Co
Southern Medical and Hospital Services of
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Shepperd
Texas Aircraft
John White
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Texas Junior Chamber of Commerce
William Steuart McBirnie
San Antonio
Trinity Baptist Church
William B
Bill) Bellamy
The
Express Publishing Co
Bill Alborn
Brownwood
Attorney General's Office
Dan Eddy
Salvation Army
Jim Lindsey
Texarkana
House of Representatives
Allan Shivers
Nancy Barker
Barbara Cosgrove
Denton
North Texas State College
Barbara
Nancy
Ernest Henderson, Sr
Jeft
Sheraton Corp. of America
John W. Carpenter
Southland Life Insurance Corp
Southland Center
Sheraton-Dallas
Henderson
Vern Sanford
Texas Press Association
Washington
Capitol
Smith
Betts
Lewis Shoe
Otore
Brady
City Club
Weatherbird
J. W. Ragsdale
Optometrist
Brady, Texas
Dial
Kimbell
Crisco
East Texas
Grays Fine Foods
South Bridge
Eleventh St
Armour
Wilson
Bernah Jordan
Lee Adams Furniture
A. W. Moseley
S. High St
Floriz
Vistavision
Tec
Aimccseth
Tehnicoll
Scarlett
Hezebel
Richard Egan
Dana Wynter
Cameron Mitchell
Terniney
Poa
Clark
Jane Robert Gable Russell Ryan
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