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Hearing on SEC Charges Against Aldred Trustees TrusteesCase Case of Gross Misconduct Held In Purchase of Suffolk Downs DownsBOSTON BOSTON Mass June 3 Hearing on the charges of the Securities and Exchange Commission against Gordon B Hanlon president of the Eastern Racing Associa ¬ tion operators of Suffolk Downs race track will take place in the Federal Build ¬ ing here Tuesday June 6 The case will be heard before the court of Federal Judge George Sweeney SweeneyThe The Securities and Exchange Commis ¬ sion charged Hanlon and six trustees of the Aldred Investment Trust with gross misconduct and abuse of trust in speculat ¬ ing 1195000 belonging to the Aldred In ¬ vestment Trust in purchasing the Suffolk Downs plant The writ on file also asks for the appointment of a receiver for the trust with power to liquidate its assets and distribute them to creditors creditorsNamed Named as trustees with Hanlon are Elton N Hanlon Robert P Loring Ezra D Hart W Edward Hughes John L Arnold and Malcolm M Bowen All of the aforemen ¬ tioned with the exception of Elton Hanlon are presently on the board of directors at Suffolk Downs DownsHanlon Hanlon and his associates purchased the controlling stock in the Eastern Racing Association last February from Charles F Adams then president and V C Bruce Wetmore who was treasurer of the local racing organization at that time Adams is still active at Suffolk as director of rac ¬ ing while Wetmore is listed as general manager managerThe The Securities and Exchange Commis ¬ sion is represented in the action by Edward H Cashion head counsel and Frank Kopelman attorney attached to the Boston regional office of the SEC
