AERONAUTICS: First Stock Scandal

The U. S. aviation industry's first stockjobbing scandal broke open last week. Whenever public imagination fixes on an industry, as on Oil a decade ago and Gold before that, crooks easily sell stock of little or no value to everready gulls.

The company hit last week was Airvia Transportation Co., which is just getting its wing-hold commercially. U. S. postal inspectors swooped into its Manhattan offices, ordered officers and employes to bring their account books to a Federal grand jury for study. Other inspectors did the same at Coastal Airways office,...

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