Evening star., 1934-11-25
|NSULL ACQUITTED
Of FRAUD CHARGE
16 CodefendantS Are Found
Not GuiIty-Jury Out 2
Hours 2 Minutes.
(continued From First Page)

4ASb L o6S-(
American institutions. am more
happy that my fms name has been
cleared than I am about my own"
Mrs. insult, waiting in her hotel
for the verdict, heard the verdict by
telephone. She said
II am tremendously happy over
the acquittal of my husband and
SON."
Stanley Field, the famous Chicago
philanthropist and an insult director,
was brief. He said, Il am very much
appreciative of this verdict"
only one of the jurors would COM
ment.
After the first two weeks, we had
no doubt that the defendants were In
nocent."
Samuel insult, jr., his fathers chief
Of staff" and once vice chairman OF
three insult concerns, said:
"I appreciate the vindication OF the
motives of my father and myself and
our associates"
Besides another Federal charge
one of fraudulently removing assets
from bankrupt company-1nSull
faces a State charge of embezzlement,
focused on the giant of his utility
system, the Middle West Utilities Co.
"Going Home for Rest"
I'm going home for a long rest
said insult in high spirits. Ihere
are other cases, you know.
Judge Wilkerson'S marble ana ma
hopany court room was piled hlgh
with business records for the eight
weeks trial, but the three letters only
IN which the Jurors showed interest
concerned Insults use OF stock olVl-
denGs-one of the accounting methoos
the Government called tricks 10 oe-
ceive investors.
One was from P. j. McEnroe,
vice president of insults Corporation
Securities Co., asking the opinion OF
Arthur Young & Co., accountants Oh
whether stock dividends, "hen re-
ceived by an insult company, coulo
properly be entered as income al the
current market price.
The second was an answer, holo1ng
they could not.
The third was Insults letter to
the accountants, declaring:
"You should not have decided a
matter of this Importance without con-
sulting me, especially as I disagree.
Surrounded by Co-defendants.
When insult left the jury box after
thanking the II men themselves en-
route to freedom and their homes, ne
ol bIy tho other dPtPn6-
ants for a round of congratulations
and handshaking. 1t was not untll
everv one else had either shaken In
sull by the hand or patted MN on
the back that his chief OF defense
Attorney Floyd E. Thompson, made
his way to insults side.
Thompson. former chief justice
of the Illinois Supreme Court, who
had pleaded with the jury to send
this old man home" put his arm
around insults shoulders.
"You know how feel about this,
the attorney said.
insult looked at him, put out
hand, and said nothing.
Trial Lasted 23 Days.
insult, central figure Of the trial
and main target for prosecution at
tacks and defense returns, had be-
lieved the fate of the case would de-
pend on the jurors attitude toward
him.
After the Government ended its
case, although refusing then to be
quoted, he had said:
IF they convict any one, they'll
convict me-"
Specifically the charges against
him developed in % days OF testimony
by Government witnesses we're that
he had violated the postal laws IN 70
instances while selling the common
stock to the Corporation Securities
Co., an investment trust launched on
october S, 1929.
Government accountants told the
Jury the stock was worthless during
much Of the time it was sold to in
vestors. and that the circular offering
it falsely stated the corporations
assets.
Charged With Rigging Market.
Describing operations by insult
Companies on the Chicago Stock Ex-
change, they declared that insult had
"rigged the market" initiating the
price of Corp. common" far above
it's true value, which they set at its
"liquidating value"
No estimates were forthcoming as
to the cost of the case, which was
based on investigation begun in the
Fall of 1882. insult was then in
Europe on what he called "a rest"
and Prosecutor Leslie E. Salter, who
presented the Governments case,
called it fight.
Salter tonight took the verdict with
grin.
II said all I had to say in there"
he said, pointing at the court room.
SPECIAL NOTICES.