The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1897-09-06

| crockett, Mr. L1Cbl6UelQ ana other organ
izers of the company, and sold the stock
at $40 share went round among the
farmers of this hamlet. acting under or
ders from A. F. Crockett, and I sold
stock to people who were depositors in
Rockland banks. did not miss man
who had dollar. I sold to farmers, to
| business men and school teachers, to
everyone who had any money.
''I went to Lewiston where was not
known. But / sold stock to men there
upon the signatures of men from Rock
land, in whom the people had confidence.
II went to Augusta and sold stock in
the same way, not because they knew me
but on account of the standing of the
men in Rookland. worked hard because
felt that there was profit in this bust
ness. There is profit in it, but we have
not had any management, and the money
has been wasted.
| "On one occasion when the company
needed money and the attempt was being
made in Washington to float the stock,
one Of the statesmen, F. Felt, told me he
paid $50 for dinner in Washington try
ing to sell stock, and even then he was
unsuccessful.
"The treasurer kept us under heavy
expense, we did not have the proper
machinery to manufacture our goods,
they were returned unstable, and the
company has not been properly handled.
Gentlemen, the Red Seal Remedy COM
pany, if properly managed, would have
paid dividend to those even who did
| not pay cent for their stock, and no one
| would have known what they paid in.
"If,,the company can be put in operation
will guarantee to make some sort of a
| dividend the first year. or else give my
services for nothing. The liabilities of
the company today are $4,000 and the
assets $50, 1882.
"Just before took the management of
the company some four months ago, Col.
Allen. who owns our building in Lowell,
asked me what sort of company we were
running, and told me that his employees
were learning to ride bicycles in our
labratory. He said it looked more like a
meat market than manufacturing
establishment.
81 employed expert chemists from New
| York and Boston, and both stated after
examining our plant that it was impos-
sible to make satisfactory goods with our
facilities.
1--WE put in new set Of apparatus and
from March until we closed two months
| rxo xx,a n, ado fiua Coods -
A VIGOROUS LETTER.
Manager Carlow then read long letter
which he said he sent to A. F. Crockett,
Hon. Charles E. Littlefeld and two others
of the prominent Rockland organizers OF
the company. 1t detailed the organization
Of the company in 1898, its life in Rock
land, the removal of the plant during the
night to Lowell in 1896. and the manipu-
lation of the stock and the mandatory
Charles E. Littlefeld was president up
to year ago, and director to March 6,
1897, while Elmer E. Hooper was treas
urer and manager until March of this
year.
Mr.. Carlow's communication told Of the
methods Of bookkeeping. and mentions
months when $500 worth of goods were
returned because the company could not
turn out a satisfactory product.
In speaking further of the organization
of the company to assume the manu-
facture of sarsaparilla, which had been a
side issue Of the A. E. Crockett company,
director Carlow's letter said:
"This company was bankrupt from the
beginning. Instead of selling stock at
par, or even at 80 cents on dollar, which
| would have left after the debts were paid
good working capital, you merely
figured enough to relieve yourself OF the
expenses incurred and give you bonus
of $500 for the trademark, ETC., and when
this was done the company was worse OF
| than before Its Incorporation.
Mr.. Carlow closed his letter by an ap-
peal to the Rockland men to assist the
company financially.
In answer to Col. Fogler, associate
counsel with Mr.. Littlefeld, Mr.. Carlow
said he had received a short reply
acknowledging the receipt of the COM
munioation and noting it's gross, "mls-
represenations and threats.
The stockholders applauded at the con-
clusion of the reading.
John c. Burke, speaking for Treasurer
Ranlett, said the company was in bad
shape when Mr.. Ranlett was elected. and
he told of the efforts the treasurer had
made to collect money from the Rookland
men.
MR.. LITTLEFIELD'S REPLY.
Hon. Charles Littlefeld then said he
could speak for himself and the other
delinquent stockholders. He began by
saying that although he was president of
the company up to year ago he left the
management to the treasurer. He knew
nothing of the representations upon which
the stock was sold. No one was told to
misrepresent the condition of the COM
pany, and no man had any right to say
in selling stock that he or the organizers
of the company had paid par.
L He knew absolutely nothing of the con-
1itiarc r1rdor xub oh tIo rkooI~ 80. ao1d