ustxtxb_obs_1971_08_27_50_00008-00000_000.pdf

L Happiness Is Printing By 1? FFILITURA Phone 512/442-7836 1714 SOUTH CONGRESS P.O. BOX 3485 AUSTIN TEXAS Newspapers Magazines Political Specialists Signs and Placards Bumperstrips Office Supplies 100% Union Shop PRESS i.e .1 about $60,000 and were considering selling 8 1,000 shares \(of the 4,000 shares owned by stock was trading at $63 to $65 a share at the time. , grounds that Sharp is a convicted felon and confessed thief. However, to support his own case, Barnes’ has used the word of John Osorio, who, according to the depositions taken by the SEC, was almost as deeply involved in the manipulation of Sharp-owned companies as was Sharp himself. The most coherent account of the $60,000 loan that has come from Barnes’ people to date is in an interview given to Ernest Stromberger of The Dallas Times-Herald by Robert Spellings. Spellings told Stromberger that he, Spellings, had handled the entire transaction. “Barnes had no idea where I went and how I acquired the loan.” Spellings said the loan was needed to help pay the cost of Barnes’ divorce and to pay off other indebtedness. The loan was obtained on Jan. 22, 1970, about four months after the passage of the banking bills. Spellings said the loan wound up at DB&T, which was controlled by Osorio and Carr, because of Harold Hinn. Hinn, the owner of Harvest Queen Milling, is a close friend of Barnes and is also on the board of directors of National Data Communications. “I often talked to Mr. Hinn about Barnes’ personal business,” said Spellings. “So I called him and told him we needed Hinn, said Spellings, advised that “NDC had a great future and he hoped we would continue to hang onto it.” Hinn said that if Barnes would put up 1,000 shares of NDC as collateral, Hinn would arrange for a loan and would guarantee it himself. Spellings said he did not know which bank Hinn intended to go to and did not ask him. Spellings said he did not know why Hinn chose DB&T. Barnes later transferred the loan to National Bank of Commerce in Dallas when DB&T asked for an additional $20,000 in collateral’ because NDC stock had dropped sharply and the loan was undercollateralized at DB&T. Barnes said in his Friday press conference that the loan had been paid off in May, 1970. Actually, the loan was transferred in May, 1970. According to Spellings, Barnes still owes about $40,000 on the loan at National Bank of Commerce. “It’s absolutely impossible for anyone to suggest that this loan had anything to do with Frank Sharp or Barnes’ consideration of legislation because Barnes himself didn’t know about the loan,” Spellings said. M.I. The Texas Observer ATHENA Leo Nitch, Director MONTESSORI SCHOOL All or Half Day Ages 2-10 SUMMER PROGRAM 7500 Woodrow 454-4239 Personal Service Quality Insurance ALICE ANDERSON AGENCY INSURANCE & REAL ESTATE 808A E. 46th, Austin, Texas 465-6577 Make George McGovern President in ’72. CIVIL RIGHTS: “We might better be able to comprehend the message of Birmingham and Jackson in 1963, if we see it as continuation of the forces unleashed at Philadelphia and Boston in 1776 . . .” 6/63 MILITARY SPENDING: “The military budget needs to be cut by at least $20 billion …” 2/71 NEW PRIORITIES: “I am talking about declaring a new national goal: An end to poverty and pollution and racism; an end to the rot and decay of our cities; an end to hungry and starving children; an end to under-educated and under-cared for people. An end to it all by the end of this decade.” 5/71 HUNGER: “If Americans can set a deadline to put a man on the moon, there is no reason why we cannot set a deadline to end hunger …” 7/69 VIET NAM: “It is a policy of moral debacle and military defeat. It is a trap and it will haunt us …” 9/63 DRAFT: “I’m fed up with old men dreaming up wars for young men to die in . . . particularly stupid wars of this kind that add nothing to our security . . .” 4/71 WOMEN: “What every woman should have in every field of endeavor is an equal right to use equal talents …” 3/71 JOBS: “I would give top priority to Federal action to insure a job for every American …” 2/71 r Citizens for McGovern/Texas P. 0. Box 61164, Houston, Texas 77061 I am enclosing $ as my contribution to the McGovern campaign. Please keep me informed on the progress of the campaign. MB me what I can do to help. I am \(list business position, political background, job skills, or any other Name Address City State Zip MAKE CHECKS PAYABLE TO “McGOVERN FOR PRESIDENT” L