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► j — — — — — Browns Purchased by Veeck; Club Will Remain in St Louis * a j j ] J j I ! i 1 : i i : • ! . , • , T I i t , - I 3 i : ; ; i i l l t I j t t e e d k - E 3 0 0 0 0 i e . ? y e n in ? ? Lu Chicagoans Finance Deal; t Which Includes All Minor League Holdings and Park By PAUL DIX United Press Sports Writer ST. LOUIS, Mo., June 21.— Bill Veeck, whooping success as former owner of the Cleveland Indians, today accepted a new baseball challenge by conditionally purchasing the floundering St. Louis Browns. The sport-shirted Veeck assured newsmen that he had no intention now, or in the forseeable future, of moving the clubs franchise. "Im coming to St. Louis to operate a successful ball club in St. Louis," he asserted. Veeck parried most questions about the mechanics of the deal with Bill and Charlie DeWitt, present owners of the Browns. He said that he would assume active control of the club as soon as his attorneys considered a major share of the outstanding stock had been acquired. He wouldnt say how much of the stock must be in his hands by a July 3 deadline to clinch the sale, but he insisted he would "control the operation." Chicagoans Backing Venture Grinning broadly, he said, "I certainly dont want to run any ball club for 1,400 strangers." Veeck and his associates already have optioned 156,000 shares, controlled by the DeWitts through a promissory note held by St. Louis investment broker Mark Steinberg. The note represents a lien on the stock held by the American League. Veeck said a Chicago group, which backed him in his purchase of the Indians, is again financing his venture. Members of the group are Lester Armour and William Swift, meat packing plant executive; Wil-■ liam Clarke, chairman of the board of the City National Bank; Arthur Allen, an in- j vestment company executive; Newton Frye. ! an investment banker, and attorney Sidney Schiff. He said that frequent denials of the pending deal by himself and the DeWitts were correct since all negotiations were conducted through intermediaries. "Last night was the first time I met with the DeWitts to discuss the sale," Veeck said. Veeck said it was understood none of the Browns top players would be traded prior to completion of the sale. He said he was sorry Don Lenhardt was traded to the Chicago White Sox recently. DeWitt said Veeck is "one of the great men in baseball" and that he was happy to see him take over because it meant the club would stay in St. Louis. The arrange-l ment worked by Donald Barnes, former owner of the Browns, and Sidney Salo-l mon, Jr., a stockholder in the St. Louis Cardinals. "With Veeck," DeWitt said, "will be to the best interest of the Browns and the fans of St. Louis." Offers to Buy All Common Stock Veeck has offered to buy all the common shares of stock in the club, including the controlling stock of the DeWitts held under contract with the league and financed through the note held by Steinberg. The stock of the DeWitts has been placed in escrow and will be taken up by Veeck as soon as he buys up all the other shares. A statement by the DeWitts said the sale of the club to Veeck would mean that the Browns would remain in St. Louis. With ownership of the last place Ameri-; can League club, Veeck would also acquire Sportsmans Park, home of the St. Louis Cardinals as well as the Browns, and the Browns farm properties. Barnes disclosed he became involved in the negotiations to sell the Browns when the DeWitts came to him for advice after reports began to circulate that a number of sportsmen were seeking to buy the club. Barnes said he was given full power to look into any reports of offers and to ne- gotiate any agreement. He said the DeWitts had taken no part in direct negotiations but that all matters had been handled by himself, Veeck, and Sidney Salomon, Jr., a St. Louis business man. Barnes said Veeck came here last night to close the deal and the papers were signed this morning.
