Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1903-01-01
BOAT OF many TUBES
CONTINUED FROM PAGE NINE)


company. and Mr.. w. G. Cruikshank. the
vice-president of the company, upon nj
quiry. admitted that 100000 shares had
been given to Mr.. F. A. Knapp, the 1f-
ventor, for the concession of building
a steamship according to MS patent
That another 100000 shares had been
given to air. Marcus Auerbach for orr
ganizing the company, and that the com
pany Furthermore had agreed to pay Mr..
Marcus Auerbach commission of so
per cent. from the sale OF the remaining
treasury stock of 100000 shares.
Sales to Date.
They claim having sold up to the pres
ent time about $4,000 shares. which rep
resent a value of s22,50 cash. When
inquiry was made how much the COM
pany had in its treasury by stakeholder
of record, they were forced to admit
that they had in bank about $1,000. but
that the obligations they had assumed in
advertising to secure ready market for
the sale of the stock were in excess of
that amount. In short, concluded MIR.
Newman, he is here to obtain con-
tract with the Trigg Ship Building Com
pany in order to make some show to
market the stock held by two or three
men at the expense Of the other stock
holders. and the concern is nothing more
OF less LQdn q transparent lluhe
Dir. Auerbnck's Account.
Later Mr. Marcus Auerhach was seen
in the company Of Mr.. Harry L. Watson.
and made the following statement:
In the early part of the year | met
Mr.. Knapp. the inventor OF the tubular
vessel. had been following up the de-
velopment of the Texas oil fields and
was quick to realize that what would
equal the fortunes made in oil itself
would be the transportation Of oil.
loked over Mr.. Knapp's plan and dis
covered that his vessel would be tie
best oil carrier afloat. Applications were
made for patents OF the tubular vessel
in eighteen different countrys and
undertook to organize company. now
known as the Canadian Tubular Steam
ship Oil Transportation Company. At
this time I met Mr.. Samuel Harris. who
had his Office in the Temple Blilding,
Montreal conducting business known
as the Home Remedy Company. employ
ing a large staff of hands. and seemingly
doing large business. In the course of
with Mr.. Harris, he gave
me to understand that he had the promo
ton of companies down to his fingers
ends, that he was possessed of consider
able capital, and had unlimited creolt
with newspaper men throughout the
United States. That an uncle of his who
was a millionaire Of the same name as
his own would also be of considerable
assistance to me.
Accepted the Money.
On the strength Of these statements
accepted from him the sum Of $3.50 and
agreed to give him 1:5. 600 shares out OF
my own stock in company that was to
be subsequently formed.
Some two days after the receipt Of this
money from Mr.. Harris. rendered him
back his money and offered to him $500 in
excess OF it. This amount Mr.. Harris re-
fused. Shortly after this. MIR. Harris left
Canada and failed to carry out his obli-
cations, to assist me in prosecuting and
furthering the interests of this company
by advertising and giving me the benefit
of his general experience a promoter. as
I had previously never promoted a COM
pany in my life.
A short time after Mr.. Harris left
Canada he wrote me from New York. ask
ing for his stock, and requested that 1t
be given to him In certificates OF four
shares each, which would have meant the
issuing of s1..5o certificates to him.
Refused to Comply.
I judged at that time that Mr.. Harris
wants. this stock for use in one of his
advertising schemes, and that he would
throw 1t. on the market to the detrinent
OF tHOSe VINO ldC invested N the pro-
perty, and even if | had chose a that
date to give him his stock. it would have
been unfair to the rest of the company.
as the 100000 shares given to Mr. Knapp
to be divided among those who had assist
ed him in his early experiments. which
finally produced the tubular yes
sci, were still in the certificate stock book,
and all those having claim to same, which
number some sixty odd gentlemen in
Montreal. were thoroughly satisfied TO
consider this stock pooled Until such
time as, in the Interest Of the company, it
was deemed advisable to issue to them
their certificates.
Saw .riss Officials.
Mr.. Knapp accompanied me here to
Richmond, and with me interviewed the
Trigg ShlpbuildIng Company last Monday.
and from our conversation held, we see
no reason why ne could not chose salts
factory contract with this firm just as
soon as they are In position to enter
into new contracts.
Mr.. Auerbaeh concluded his statement
by saying that Harris was trying to obtain
this stock to put up as collateral in an
other concern