Evening star., 1955-05-22
Damage Suit
Filed Herein
.keIIeher Case
BY DONALD B. HADLEY


A private damage suit follow.
ing Securities and Exchange
Commission Injunction proceed
ings against Kelleher Securities
Corp. and its owner. William II.
Eynon. attracted attention here
at the week end.
Don Kinder of JessupS, Md, q
former customer Of the firm with
Offices in the Washington Build
ing, filed the suit earlier In the
week, asking $10,500 of actual
and exemplary damages and
accusing the corporation and Mr..
Eynon of fraud and violation Of
securities regulations.
The complainant is a son of
the late DR.. Hans Kinder, for
many years conductor of the
National Symphony Orchestra.
Meantime, the defendants
lawyers ended the SEC proceed
ings by agreeing not to contest
the granting of a permanent in
junction against illegal opera
tionS.
Charges Not Admitted
However, they stipulated that
the defendants did not admit
any Of the charges made against
them in the SEC complaint
seeking the Injunction. The
permanent injunction against
them was signed by Judge Ed
ward M. Curran late Friday.
In his suit for damages Mr..
Kinder repeated many Of the
charges originally made in the
SEC complaint. He charged
that when he purchased stocks
from the defendants, their pros
pectus and oral communications
included untrue statements OF
material facts and failure to
state material facts.
In purchasing stock of South
west Oil Corp. Mr.. Kinder
stated he was told the company
had new producing well in
Logan County, Okla, which was
producing 18 barrels an hour
and that reserves of the well
had been estimated at 1910, 900
barrels, although the we'll start
ed pumping salt water only a
few hours after it produced a
little oil.
Convention Units Named
Sports and publicity commit
tees for the 1855 convention Of
the District Bankers Association
at Hot Springs, Va, June 8-12
were announced yesterday by
President Francis E. Robey. Mr..
Robey is vice president of the
Bank of Commerce. .-,
James P. Benfer, jr., executive
vice president and trust officer
of the Lincoln National Bank, is
chairman of the sports commit
tee, and John M. Harris, vice
president and cashier of the An
acostia National Bank. is vice
chairman.
Joseph r. Fitzpatrick, senior
vice president and cashier of the
Second National Bank, is chair
man of the publicity unit, and
John c. Pyles, jr., president of
the City Bank, is vice chairman.
Other members of the two COM
include:
Sports-Stuart S. Ogilvie. senior vics
eiesn1 ePiheSid1ent; second National; John p.
politan: Thaddeus C. Cox, vice president.
Union Trust Bernard M. Grant. vice
vice president, Suburban trust; GeorTs
Q: SchWeinhaut. vice president Riees
slSh presdent Garrett 4, pendleton first vice
Banking Corp.
Bank Women Hold Dinner
The Capital Group of the Ma
tional Association Of Bank
Women held its 14th spring din
ner at the Columbia Country
Club last night.
Miss Mabel Cook, executive
director of the YWCA of the
District of Columbia was guest
speaker and a number of top
officials from Washington banks
Mrs. Frances B. Poole, assist
ant treasurer and assistant Sec
retary of McLachlen Banking
Corp. who is chairman of the
organization of women bank Of
f1cers. presided.
Facts and Figures Out
The 29th edition of Facts and
Figures on Washington Securi-
ties, standard financial reference
used by brokers, bankers and
has arrived from
The printers.
Compiled by Myles H. Quail
for the Washington Office of
Alex. Brown & Sons, the new
edition sets new records in both
size and coverage.
Insurance Sales Lag
Sales of ordinary life insur-
ance in the District of Columbia
totaled $12,325,000 in April, a
decline of 10 per cent from April,
1854, the Life Insurance Agency
Association re-
ported yesterday.
In four months of this year,
sales of $51,91l 900 remained 8
per cent above a year earlier.
Nominated by Controllers
G. Stewart Phillips, controller
If the Washington Post Co.. has
,een nominated for president Of
District Control, Controllers In
;titute of America.
Other nominees: Robert w.
vice president, Chesa-
,eake g. Potomac Telephone, for
'ice president; Frank B. Morgan,
controller. American Security g.
Trust Co., for secretary; Jen-
lings A. Snider. secretary and
Julius Garfinckel &
Co., for treasurer.
Guest speaker at a dinner
Meeting at the Standardization
Hotel Tuesday night will ba