13Aug36: $240,000 LOSS BY KETTERING

DETROIT EVENING TIMES

Dateline: Thursday, August 13, 1936

PAGE 12

$240,000 LOSS BY KETTERING

WASHINGTON, Aug. 13–Loss of $240,000 by Charles F. Kettering, General Motors Corporation vice president, today was among revealed facts in a Securities and Exchange Commission investigation of investment trusts.

Kettering testified he lost that amount through purchase of 40,000 shares of Yosemite Holding Corporation. Kettering paid $260,000 for the stock. Later he exchanged it for stocks in the Equity Corporation which he sold for $20,000.

Ralph W. Simonds, president of Baker, Simonds & Co., told of selling the stock to Kettering at $6.50 a share after it had been issued to the brokerage company at $5.95 a share.