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Hanlon Admits Stock Sale In Aldred Investment Case CaseBOSTON BOSTON Mass June 10 Gordon B Hanlon Aldred Investment Trust executive and president of the Eastern Racing Asso ¬ ciation operators of Suffolk Downs race track testified yesterday in Federal Court he had disposed of utilities stock of the trust at a figure lower than the purchase price priceFollowing Following the admission that sale last February of 835000 worth of utilities stock was made in order to acquire Suf ¬ folk Downs was possible a hearing on the petition to remove Hanlon from the man ¬ agement of the Aldred Trust has been con ¬ tinued for further sessions in Federal Court June 15 15In In discussing the case Hanlon stated that the stocks in question 9350 shares of Pennsylvania and Maryland Power and Light Utilities were sold because their value was threatened by a federal flood control arid hydroelectric project on the Susquehanna river riverHanlon Hanlon also said that he believed the officers chosen at the last election of the Aldred Investment Trust were capable and that their efforts would prove beneficial to stockholders in the organization Han ¬ lon denied that he had the power to name trustees because he controlled 110000 shares of Aldred Investment Trust stock
