The Oregon statesman. (Salem, Or.) 1916-1980, January 26, 1958, Image 21

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The Oregon statesman., January 26, 1958, Page 21, Image 21

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Newspaper Page Text0-Sec. III) Statesman, Salem, Org., Sim., Jan. 6, '58 Gun Blast Closes Fabulous Career Of Railroad Magnate Robert Young Tear Gas Chases Turkish Paraders In Cyprus Dispute (Mary aha m Ml m.) IP. Kirbjr, president of Alleghany, f AIM BEACH. Fla.. Jan. JSuli provided another five million. -Robert Young. 0. board chair-1 The remaining 74 m illlan. man of the New York Central Rail road, killed himself with a shot gun today In his home here. Young said, cam from a Mid western banking syndicate. The contract called far aa even split between Alleghany and the NICOSIA. Cyprus. Jan. IS Iff -Turkiah-Cypriot riot police used tear gai in Limasaol today to dis- The stock did advanca and Vr tnrkbh demonstrators de Young declared the transaction manding partition of Cyprus, wound up with everyone con-! A meeting of about 500 Turks cerned making a profit. He called l reaffirmed rejection by Turk it "the cleverest deal in my fi-jwh Cypriots of any solution to the nancial history." Qrprus problem other than parti- niK.rrf. .... in M tion. Then the Turks marched assistant treasurer of General Mo tors in 1K2 and founded a fortune In the Wall Street crash in 1929 He had predicted the crash and had sold short. With his newly won assets, he turned to his railroading career. Of small stature, i feet . and weighing 133 pounds. Young some times was duhbed "the smallest Texan in the world " His slight build was combined with a soft voice and retiring manner but he tangled with fi nancial titans, criticized long-es tablished practices of carriers, and introduced his own innova tions. Abolished Tipping One innovation was the abolish ment of tipping on the Chesapeake A Ohio-but it didn't work. Wait ers were given increments in place of tips, but they accepted tips anyhow and the plan wasH dropped, woung got into the rail road business in 1937 when he gained control of the Alleghany Corp., a holding company for railroad properties and real es tate. The principal asset was the CM), of which be became board chairman. From that position be goaded the industry, sometimes with full- page newspaper advertisements. ' A hog can cross the country without changing trains but you can t, one ad proclaimed. A short time later through-serv ice was established by various combinations of roads, but Young complained that a traveler's trip till ma AuvmA uvr a 1 twwir. hv I switching operations in Chicago. PALM BEACH, Fit, Jam. 25 nr" ' ' H - - X "Bankers, they're the trouble with a lot of railroads," be once fumed. "Bankers don't pretend to Railroad tycoon Robert K Yoang was found shot to death la his Palm Beach, Couple Slain, House Burned Near Atlanta ATLANTA, Jan. JS uB-Bodiea of an Atlanta doctor and his wife were found la the burned ruins of their homo today and police said tho couple apparently had been murdered. Dr. Benjamin W Camp, M, a graduate of Northwestern Univer sitv School of Medicine, and Mrs. Camp died in their two-bedroom home on a pine-studded hill on the outskirts of Atlanta in adjoining Cobb County. A charred torso identified as Camp's body was found in the wreckage of a bedroom. Mrs. Camp's body was discovered sev eral hours later in the water-filled basement, her hands -tightly bound behind her back with adhesive tape. More tape covered her mouth. ' Wemaa Subdued Amos Bates, chief of Cobb Coun ty detectives, said officers were working on the assumption some one entered the house, subdued Mrs. Camp and tied her up. "TV-.. .:y4-M.iu I... iM r- but at one time it at least totaled Zawp to come home, then set the i...t.i. mi ik i. i early today, half an hour after 1 k ' .,; .. u. ..,., .u., A son of a country banker. j ( ,u v,cation when Murchison tele-1 th ntrU carryins: pla- Young resigned a 135 000-a-job as ! phoned him about Young's need1"."". Pf Ends Life tor heir, in his Brow fiehL "llon- n0- J'001 7W In a hurry to get to a golf,Plan nd course. Richardson did not under- Tho island's new British gov Land all the details before aeree- ernor. Sir Hush Foot, is accused fair to to alone. Time macaiine by the Turkish community of isirf ha railed Murchison ths next showing favors to the Greek popu day lace. The Greeks, who outnum- "What the hell did you say was her Turks on this Island by four the name of this railroad?" he " one. warn uis isiano. 10 oeiong asked. Greece. On Jan. 17, a report to tho New York Stock Exchange disclosed Youitg had sold 27.300 shares of Central stock, reducing his hold ings to 1.200 shares so far as the public record was concerned. This would not include holdings of any of Young's various con trolled companies, such as Alle ghany, nor any stock he turned over to or sold to his wife for tax purposes in December. h nas never Deen Known aen- ,.,., . !.) mrvtU hi m,.rh r.nr.il JtlHlA.TI. Iran, Jan. LT ou- v,. a ,,riii viet Ambassador Nikolai Pegov Sec. Dulles Reception Miffs Red hundreds of thousands. Nickname 'Railroad' Young was born in Canadian, Tex.. Feb. H. 1897. Prophetically at a boy la the Texas Panhandle, bo had the nickname "Railroad" because his initials were R.R. Ho attended Culver Military I'.L,.1."?"?, g'cV'ne-b-L.,.r"IUa", the motive was. we are not sure. I We think it could have been rob bery but with everything burned it is hard to tell what is missing. Relatives said the house was officials for U. S. State John Foster Dulles. Political quarters expressed sur prise at Peeov's sudden depar ture. Foreign Ministry sources t:u-J . I L.I - . : jl : and diplomats who attended the1 -lu -mu urn.- ff?s& issf. i camrrhro1thrrfh,e Academy and was graduated with ' gjven Dulles. The U. S. Phywcn- f !d..M- cmP h,d flie highest honors in his class.!secrary ? gtoppine over re eni80 beut,fu' d"nds that have He refused to be valedictorian be- t0 the Baghdad Pact confer-!not yet been ,ound cause of shyness. -nee In Ankara. Turkey. Monday. Had Lived Abraia loung entered the Vniversity of. An Iranian Foreign Ministry Virginia but became more inter-, source said Pegov returned to ested in poker and other forms of i Tehran only recently from a trip to Moscow. He could give no rea son for this second departure. PegoVleft in a car for the Soviet border. be industrial managers. What we! ri. .. Mnwi. in railroads That', what made It 1 (AP) some of our biggest corporations great. Boy From Texas' "I'm just a little boy from Tex as trying to bring the public the kind of service it deserves and give the railroads back to the people," hi said of his rail im provement program. Once firmly established in Al leghany. Young set bis sights on the New York Central, with its 10,714 miles of track and assets In excess of billion dollars. Tho assets included some of the most valuable real estate in the world, but tho road also was heav ily mortgaged. Its net bonded debt exceeded 500 million dollars and Its total funded debt more than too million. In his famous battlo to gain con trol of the New York Central. Young had tho help of two other fabulously wealthy Texans Sid Williams Richardson and Clint W. Murchisoa Sr. This was in 1964. Rkhardsoa and Murchison, life long cronies, bought aoo.000 shares of Central stock for X million dol lan in order to vote tho proxies for Young. And they did it with borrowed money not using a cent of their own. Involved Traaaaetlea It was an involved transaction Fund Drives For Veterans Under Fire WASHINGTON. Jan. 25 1 - Chairman Teague (D-Tex) said to day House Veterans Committee investigators have found cases where only S-18 per cent of funds raised in tho name of veterans actually went to needy ex-oervict- men. Teague called a committee meeting next Monday to chart a public inquiry into veterans fund drives He voiced concern "lest the shocking activities of some profes sional fund raisers hurt the organ izations which deal with them and also mislead the public which makes the ultimate contribution.' Teague mentioned no names. Key committee members indl cated they would go along with Teague s proposal for hearings, based on evidence collected by committee investigators over some six months An American Legion official said his organization "definitely feels it in the best interest of vet erans and the American people to " mum uiiwu II ail i nan i mm ' . . .!. , - . by which the 100.000 shares " "W-' owned bv Oi dwunnk. a, nkU "l'l" gambling than in his studies. He left tho university In less than two years. After his marriage in April, 1916. Young took a job at 284 cents an hour in a Du Pont pow der plant at Carneys Point. N. J. Upon inheriting several thou sand dollars from the estate of his grandfather, he and his wife and child moved to New York. He lost the inheritance in a business venture and a plunge into Wall Street, then went to General Motors in 1922. After regaining a fortune in the 1929 crash, he retired in 1935. But he soon learned idleness was not for him. His financial activity be came greater than ever. "They brought back lots of nice things from the years they lived in Italy," the brother said. The doctor was a veteran of World War I and was called back into service in 1941. Ho served in Meanwhile. Dulles conferred ; Sngl1fll ,?!orth a,nd ,Ita!y; with Premier Manouchehr Eghbal and Finance Minister Asghar Na ser. An official announcement said "general talks took place." but an informed source said Na ser gave Dulles detailed ex planations of Iran's budget. Ear lier. Dulles was reported to have planned to cover with the Irani ans a wide range of topics, in cluding U. S. financial aid to Iran's army. Dulles later met separately with Premier Firox Khan Noon of Pak istan, i Both Iran and Pakistan He held tho rank of colonel and served as military surgeon of Rome for U.S. forces. The Camp's Kerry blue terrier. also was killed. His body was found near Mrs. Camp's in the basement. Officers said the dog appeared to have been stabbed in the throat. members of the Baghdad Pact. The United States is a member of key committees but not a full pact member. Dulles is due in An kara tomorrow to take part in tho are I conference as an observer. Railway of which Young former ly was president, came into pos session of tho pair. Too CM had acquired tho stock while Young was its president, but under a ruling by tho Interstate Commerce Commission could not vote it in tho election of tho New York Central directorate Young detailed tho transaction for a Senate Banking and Curren cy subcommittee ia 1955. Ho said too Alleghany Corp.. railroad holding company of which ho was chairman, advanced tho two Tex as nnltimillionairos 7 mfflion dollars, and that his friend. Allan Four Poles 4 Seek Asylum i On Dane ls.6 ROENNE, Denmark. Jan. B A Polish fishing boot arrived today at Noxoo on tho Danish Bal U island of Bornholm. Four young Polos aboard asked for po litical asylum. Throe of the men had been amuggled aboard at Utska. Po land, by tho fourth conspirator, a member of the crew, they told Cilice. Shortly after the vessel ft Utska the four locked up the rest of the crew below deck and shaped a course for Bornholm. Nexoo police freed the impris oned members of tho crew, who said they wanted to return to Po und. Only three days ago three other Polish fishermen arrived at Nexoo and asked for asylum after having locked their shipmates up below deck. The Veterans of Foreign Wars said it welcomes the Inquiry. Parking Meters Eyed For Subarctic Town YELLOWKNTFE, Northwest Ter ritories, Jan. 25 UV-Thio aubartie milling town of yon ia consider ing installation of parking meters. Town officials say that, because ears an a luxury hero ear own on wouldn't dream of walking anywhere. Polish Strike Averted WARSAW, Poland. Jan. 21 un Communist authorities headed off a strike of MO electrical workers In Wroclaw today ' by granting Cab Driver Nabbed in Bank Holdup SALT LAKE CITY. Jan. 2$ (aV A Salt Lake City bank was robbed Friday by a lono bandit who claimed be held hostage a bank officer's child. Four hours later a cab driver was arrested and charted with the holdup. The robbery act off a search for the wife and children of the bank's cashier. They were found shop ping in a department store. The bandit was bluffing about the hostage. Police , broke into a hotel room at Ogdea, 40 miles north of Salt Lake, and arrested Horace Evans 43. a Salt Lake cab driver. Capt K. T. Poersoa said Evans told tho officers as they burst In to the room: "Never mind, I'm the man yon wast. I guess I didnt do a very good Job. I didn't even get a good meal out of the money. Peterson said officers found tl. 202 in a suitcase in Evans's room Officials of tho Union Bank and Trust Co., bad estimated tho ban dit's loot at 11.500. I Theology School Favors Admittance Of Negro Students ATLANTA. Jan. 25 (ft More than three-fourths of tho students in the Emory University school of theology favor admission of Ne groes to the school, a student pub lication said today. The student coancfl polled Cos students and released ma results in tho Caadlar Advooata. student newsletter. Replies roeefved iron 237 Qmo ttonnalrca circulated lo 400 theolo gy students at tho .Methodist school showed tho following: those favoring admission of qualified Negroes as students 262, undecid ed 17. no M. This was a slightly higher per cent than has been in dicated by similar polls during the past five years. t A majority, H J par toot, also indicated they wxnUbt willing at Premier Sunday Cross-Word Puzzle a Weight attached to Ha Wot a me! 10 Source of heat 14 Part of the head petitor 3 Departed 21 Breeao 23 Hang about 23 Empty 24 Traaalata 2 Pea tree 27 For catching butterfliea 28 Center of WtMCi J Ever (poetic) 2J Market 2 Womaa vacated 24 root lever HOSUZONTAL 55 Intended S Oiveat 58 Bare Regret 0 Ship's crane 1 Hesitate 43 The present 4 Mender 4 OomesUs utensil AgaJa put to proof tl Oeva t Island of Mediter. raneea M Resinous substance 5 Of a luminous stellar patch b ttea vena 97 Sound nade by pigeoa fa Layer aa Potter-o y 102 Imperial clay J0J Tendcreat Short. 107 Live billed 108 Jog rail 110 Head Tl Niggard covering' 72 Bird 111 One of allied to two equal swallow parts T4 Her 112 Malays 75 United by 28 Con nected Oft- Ftsahao 41 Dsspousd 4y-Potnt 42 Vlolent fast o 12 Flat at Oriental houso ongagwd to gibboa 111 Part sT garment 111 Of aa Indian auildmg material ttS Efface 120 Worship 121 Any flat VERT1CAX. 1 Impress 44 Young 2 Passenger salmon ship 45 Malarial Conserve fever of grapes 46 -Getting 4 Fortify ready 5 Merging 47 Slope tautru- the ment edge a Animated 4 Cast 7 Unaspt- metal rated mass 2 Rear part tl Time of ship honored Most 2 God of sloping love 10 Of a goat 5 Eft a-iit U Aacisal Mogul 122 River of Franc Hindrance 122 Glossy at Beatwic fabric encloawfw 224 Hinder aa Patn 125 Way Slavs 136 Cosy ar larriaaH hy wLg 11 Of ws 12 Aphro dite's lover IS Newer 14 Depth less 15 Gear tooth 18 Stay' 17-Oblivtoa IS Ferreted out 25 To lease again 2 English rural festival 22 Induced 25 Adrift 3d Inclined from a direct ane v 55 Sailor . 6 Pale 57 Chrysolite 60 Finger 1 List of 2 Place again 5 Craft 66 Charge 68 Thrice 1 music) 70 Rattle 71 Fruit 72 Uni t of auaa tita ns African nut M A spread ing of tight beyond Its proper 'boundaries photog.) 7 Incite Informer 1 Sweeten 2 Admit 04 Mongrel a Decapi tate 7 Mountain pass S Course at meal Com . merce 100 Again put ia vessel 101 Grinding; 102 Culet 104 Delight 105 Indian black buck lo Prevailing' tendency tive meter 10a Ele- 73 Indian phaat'a perfumed powder 74 Bear 75 Having threads 7 Tightly drawn 27 Having mad a wiB 2a Partiel 41 Sagseiows 77 Gaelic sens 80 Thieve 42 Mourning tl Flower aoag- part ear 111 Angry rwan'a note 114 Befora 110 Plant of the camellia family 117 Units lis Blow V 7a ir 2 7 hi 17 To I '" V, 'A V7. 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