Imperial Valley Press

BROKER'S CASE TO BE DECIDED IN NEXT WEEK

LONG BEACH, Cal., July 29. (U.P.)—Whether Irwin S. Burgess, real estate broker, will be held for trial on 21 counts of violation of the state corporate securities act in connection with the sale of oil leases in Tehama county, today rested with Municipal Judge Wilbur S. Downs.

It is believed the decision, which is expected within a week, will be favorable to the real estate man.

In taking the case under submission late yesterday, Judge Downs commented that no testimony had been presented during the hearing to show that Burgess had shown any intention to sell anything but a lease to property.

The defense contended that Burgess sold the leases on one acre parcels of a thousand acre tract in Tehama county without a corporate securities permit.

The hearing resolved itself into a question of whether or not Burgess was selling a security or merely a lease. The defense called W. D. Abell, of the corporation department. Abell testified that Burgess had detailed his plans for selling the leases and after investigating, Abell had decided the leases were not securities and had informed Burgess that he did not need a permit.

It also was the contention of the state that Burgess sold the leases at a time he did not himself have title to the land. The promoter declared from the stand that although he did not have a lease on the thousand acre block at the time his sales campaign started, he did have an oral agreement with the California Land and Cattle company of San Francisco, owners of the property, and that he had secured his lease from them later.