Magazine content is available exclusively for TIME subscribers.Business & Finance: Deals & Developments
Loree Present. In 1924 Railroader Leonor Fresnel Loree instructed his broker to buy for him 14,000 shares of Missouri-Kansas-Texas Railroad stock. A few weeks later, Kansas City Southern Railway Co., of which Mr. Loree is chairman, decided to buy control of M.K.T. Shrewd Mr. Loree made $144,000 on his M.K.T. stock. In 1928 the Interstate Commerce Commission investigated Mr. Loree's trade, questioned his ethics. Last week this annual report of Kansas City Southern revealed that Mr. Loree last year paid over to the road his $144,000 profit. He said his action was merely...
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