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Barons Entry Into NHL Approved by Stockholders CLEVELAND, Ohio, May 28 UP.. Cleveland Barons stockholders today voted approval of the clubs joining the National Hockey League and agreed to comply with the financial arrangements set forth by the big-time circuit. The way Was all but cleared for the longtime American Hockey League members to become the seventh team in the National loop, and formal admission was expected at the league meeting in Montreal June 10. The board of governors of the NHL two weeks ago stipulated that the Barons must have 25,000 to cover the franchise cost, emergency fund and working capitalr The Barons owners agreed to put up the money and revealed another stipulation set forth by the NHL. That was that 60 per cent of the stock of the Barons corporation shall be held by bona fide Cleveland residents. Richard L. Kroesen, president of the Cleveland Arena, which owns the Barons, announced following a directors meeting last night and the stockholders meeting today that "the executive committee has been authorized to proceed with the financial arrangements required by the NHL."
