Appeal of Aldred Trust Case Under Advisement of Judges, Daily Racing Form, 1945-06-07


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Appeal of Aldred Trust Case Under Advisement of Judges BOSTON, Mass., June 6. —The U. 8. 1 : Circuit Court of Appeals will not hand ! down a decision in the case of Gordon Hanlon. president of the Aldred Investment Trust, for some time, the judges taking the case under advisement after hearing yesterday. Hanlon appealed a recent ruling of the U. S. District Court ordering the trust into the hands of receivers for liquidation. Hanlon was charged with misconduct in the use of ,195,000, which sum was used to purchase the controlling interest in the Eastern Racing Association, 1 : ! operators of the Suffolk Downs racetrack. Characterizing the decision of the Federal District Court in the Aldred Investment Trust case against Hanlon and his associates as placing "an unholy, unrighteous stigma upon the characters of these men," former Federal Judge Hugh D. Mc-Lellan yesterday argued before the U. S. Circuit Court of Appeals for a reversal of the lower court finding that the group were guilty of gross misconduct and gross abuse of trust. Attorney Milton V. Freeman, from the Philadelphia office of the Securities and Exchange Commission, presented the governments case and strongly urged that ttM original decision be upheld.

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