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...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!