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Hanlon States Alfred Trust Earnings Show Improvement ImprovementEAST EAST BOSTON Mass June 16 Gor ¬ don B Hanlon head of the Aldred Invest ¬ ment Trust and presjdent of Suffolk Downs Race Track testified today in Fed ¬ eral Court that earnings of the local finan ¬ cial organization this year have exceeded earnings for an equal period of 1943 by some 57 per cent Hanlon offered the tes ¬ timony in the United States District Court during the hearing on the petition of Charles T Stratton to remove him and his associates from the management of the trust trustDuring During the session held before Jurge George C Sweeney Hanlon told his coun ¬ sel former Federal Judge Hugh D Mc Lellan the Aldred Trust had earned enough to pay its interest indebtedness and a surplus of approximately 15000 above all interest and expenses expensesHanlon Hanlon further stated that if racing was to be ended in Massachusetts at the close of the present season the assets of the Eastern Racing Association operators of Suffolk Downs would be sufficient to pay more than 80 a share on the 30000 shares of ERA stock outstanding 80 being the figure at which Hanlon and his associates I bought more than 50 per cent of the racing association stock for the trust trustThe The case will be continued Monday ac ¬ cording to word received from attaches of the United States District Court
