Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-19

in the establishment Of the Mobile Press,
the witness replied that "a good many
years ago Frederick I. Thompson (pub-
Usher of two Mobile newspapers), at
tempted to ruin me, and thought II I
could encourage this paper would be
glad to do IL"
Aldridge said he first heard Of the
proposal to establish the Press from
McGowin and a brother, Henry Al
bridge, manager of the Commercial
Finance Co. of Mobile, owned by Nc
Gown. This, he said, was during visit
to Mobile about the first of this year.
the latter's ONCE, and that McGowin
had expressed himself as anxious that
the paper be organized" and he had Of
fered to loan McGowin some money to
help him finance the Press.
The name Of r. B. Chandler, editor
and publisher Of the Press, was men,
toned In the conversation with Nc
Gown at that time. Aldridge said, but
only with reference to his ability as
newspaper man.
Borrowed $4,000.
Two or three weeks after this visit,
Al6ridge said he borrowed $25, 900 from
Logan Martin and went to Mobile and
delivered this sum to McGowin. A copy
Of this check. dated February Is, 1929,
was placed In the record.
testified he later borrowed another
SIS, 900 from Martin which he also de-
livered to McGowir. In previous
testimony before the commission it has
been developed that McGowin loaned
Chandler 100000 so that the latter
could purchase one-half Of the stock
Of the Press. which started publication
last April Is.
Aldridge declared he gave no note to
Martin for the loan. but he repaid him
at 6 per cent interest. McGowin, how
ever, he added, gave him notes for the
two $4,000 loans.
The second s25, 900 loan was made on
April 5, 1929. according to q photo
static copy Of check placed In the
record.
The transaction between Martin and
himself were described by the witness
rs loan and nothing else.
IF 1t was Alabama Power Co. money"
he added, ST did not know It,"
Aldridge testified he had only talked
with Victor H. Hanson, publisher of two
Birmingham newspapers, about the es-
Enlistment of the Mobile Press, "in a
general way" He added he had never
told Hanson about advancing the money
to McGowin for establishment of the
Asked by Healy If he and Martin had
discussed establishing the Press ito
fight the Thompson papers" which had
been attacking the Alabama Power Co.,
Aldridge replied he had not
st hear that talk among Alabama
Power Co. employees" he added. 1T is
0 regular joke there"
'It was q joke which led you to IN
vest S50,000," retorted Healy.
After Aldridge left the stand Logan
Martin, general counsel of the Alabama
Power Co, declared the company ana
It's subsidiaries had never made invest
ments In newspapers.
Martin said that only in one case, the
$4,000 loan to Aldridge. had he gone
into a newspaper deal, and he had en-
tered into that arrangement ION ac-
count of the personal attack by the
Thompson papers on my brother and
myself"
About 10 years ago. he continued, the
Mobile Item was established as COM
petitor to the newspaper owned by
Thompson In Mobile, but he added,
Thompson later had bought control OF
the Item.
so it was decided" he added. 'sthat
the Mobile Press should be placed IN
the hands Of o voting trust to preclude
the goining Of eentrol by Therapscn: