Word: moursund
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Land Baron A. W. Moursund, 45, longtime friend and now principal trustee of the President's financial interests,* says that no Johnson family member has a direct interest in the company. Yet an example of Brazos-Tenth's complicated intertwining with the Johnsons turned up in early 1962. On Feb. 1 the LBJ Co. sold some subdivided lots to Brazos-Tenth. The deed was signed by J. C. Kellam, president of the LBJ Co., and by Donald Thomas, the LBJ Co. secretary. Before the day was over, essentially the same real estate package was sold by Brazos-Tenth...
...recent years, Brazos-Tenth has acquired about $1,000,000 worth of stock in nine Texas banks. In one recent case, ownership of a thriving little bank, Moore State Bank in Llano, Texas, changed hands after two big blocks of stock were sold-749 shares to Moursund's mother, 749 to Brazos-Tenth. Those shares constituted controlling interest in the bank, and one Moore State stockholder said later: "After the transaction was closed, Mr. Johnson spoke of it to me at a party and thanked me for selling...