0-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
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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
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(poetic)
2J Market
2 Womaa
vacated
24 root lever
HOSUZONTAL
55 Intended
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58 Bare
Regret
0 Ship's
crane
1 Hesitate
43 The
present
4 Mender
4 OomesUs
utensil
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put
to proof
tl Oeva
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substance
5 Of a
luminous
stellar
patch b
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97 Sound
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pigeoa
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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
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41 Dsspousd
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42 Vlolent
fast o
12 Flat
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houso
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to
gibboa
111 Part sT
garment
111 Of aa
Indian
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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
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a Animated 4 Cast
7 Unaspt- metal
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2 Rear part tl Time
of ship honored
Most 2 God of
sloping love
10 Of a goat 5 Eft
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122 River of
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Hindrance 122 Glossy
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15 Gear tooth
18 Stay'
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again
2 English
rural
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55 Sailor .
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57 Chrysolite
60 Finger
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101 Grinding;
102 Culet
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74 Bear
75 Having
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