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Helis Three Associates Gain Control of Suffolk SuffolkBid Bid 3600000 at Public Sale For 5027 Per Cent of Stock StockContinued Continued from Page One OneMassachusetts Massachusetts attorney general who was believed to be representing the Simcq Trading Company Inc of Boston an ice cream firm William P Kyne general manager of the Bay Meadows track at San Mateo Calif Maurice Simon a Boston attorney Walter J Waldron also of Bos ¬ ton Joseph F Timilty former Boston po ¬ lice commissioner F C Dumaine Jr of Boston son of the noted New England textile executive Robert H Radsch of New York and John L Shea of Boston also were numbered among the other bidders who made a total of 24 bids bidsAuctioneer Auctioneer Aaron Crock conducted the sale Attorney Edward O Proctor one of the receivers of the track read the terms As the bidding was about to begin at 1105 a m former State Senator Joseph A Lang one of Boston interposed an objection pro ¬ testing the terms of the sale which called for the posting of 100000 certified check to qualify a bidder and an additional 250000 certified check by the successful bidder The balance of the purchase price must be paid within one week at the First National Bank of Boston by order of the U S District Court who authorized the sale Langone was informed that the sale would proceed as scheduled scheduledTimilty Timilty opened the bidding by offering 1500000 Kyne quickly rose and bid 2000000 The price soared to 3525000 and then came a pause Crock asked if there were any more offers Receiving no answer he started the customary toll tollOnce Once he said Before he could count further Dever reopened the bidding with an offer of 3550000 Any more asked the auctioneer auctioneerPappas Pappas rose and said saidThree Three million six hundred thousand dollars dollarsThat That silenced Pappas rivals Once twice sold exclaimed Crock It was then 1117 a m mThe The price was approximately 240 per share shareAlthough Although he failed to acquire a control ¬ ling interest in Suffolk Downs Radsch bid in an additional block of 7500 shares in the Eastern Racing Association at a cost of 1725000 This represented 230 per share about 10 less than the Helis syndi ¬ cate paid paidVirtually Virtually all of the bidders represented syndicates but the connections of some of the individuals were not disclosed disclosedThe The Eastern Racing Association will conduct two meetings at Suffolk Downs this year the first consisting of 36 days open ¬ ing on May 27 and running to July 6 and the second extending from October 1 to October 26 a period of 23 days The track opened on July 10 1935 at a reported con ¬ struction cost of 2700000 2700000If If the U S District Court approves the sale as expected the new owners will meet Friday to reorganize the association All the present officers of the track submitted their resignations to give the buyers a free hand Allan J Wilson was president and Edward F Goode treasurer
