The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-08-08
SS,OOO,OOO BASELESS STOCK
tTTO mas PROMOTING ON LAVISH
SClLE, without DIIIDENDS.
Wlndup az sbetro schemes NJ Charles Berg
shows THAT ne drew In Many Money ed
Wen In cities Throughout Country
the Promoter Nav In London


DETROIT. Mich. Aug. : Promoter
CbarIes berg who had no difficulty in
oa,,ing hacLar. go, his au,o b,,s communities
u.u, -. T.. 30 Nm ono =.
~ 49, "U 10
'or'""R 'o report now " ~ ''onuon' 'ne
STORY OF bergs actiNlties was told IN the
windup OF the Citizens Transit Company
OF Detroit. capitalized AT $500. 0OO, and OF
the Imperial Auto Company. a,ao of Detroit.
cap;ta,iyed n, ssOo 600 Some oS Reru's
oono.,n. wo.
'nperIs' r.'ec'rl' N'o.or ompahN' organ
IHeo nhuer me Jaws OF MAINE 70 controi anu
manufacture patent four motor eiec'rlcal
euu'pWen' Ior Com"herc'di Hu'os' cap'a'Heu
az sI'ooo'o"' Licenses granted 70 SUD
slolary cohnpHh'es' o"n no equipment "ap"'
W Inausn So"pany, p ~
80 u. sooo'VVV. o'kan,1e" ~ ops'",e ,"n.y
s'aht seeing cars epu'ppeu WIN 'mper'a'
'onr motor apparatus one car oehVereo'
Imperial Transit Company OF Pennsyl-
vania. organized In Pittsburg 10 manufacture
cars equipped with Imperial motors. Capital
iZed NJ 81 900. 900.
Auto Transit COMPANY OF philadelphia,
Organized April ~. iaOs with "A naturalization
of Al 600 Ooo To onerste thirty Imperial
coaches Two c,rs dol, vered
Imna,., r,.asI rnnn.nr u, ., yo,s
p,.N = ~, - -
az eo'V.ooo' W pra '"'' ''
peraa' a " No arr uenN-'e"'
'itizens transit COMPANY OF Detroit
capitailzed at s5oo'ooo anu SUBSEQUENTLY m
creased 10 $500 600, 10 operate nlteen Imperial
cars. Three cars delivered, all natures.
commercial Truck Company of America
organized in Philadelphia March II. 1905,
capitalized al 81, 200. 900 10 manufacture
Imperial cars and commercial vehicles.
Imperial Auto Compans of Detroit, CAPT
tslized a, $500 ooo. and subsequently reorgan-
ized under tho mama Of mo Commercial Motor
Vehicle Connany m,pnractursr of ImneriaI
49,. T...aa 90, ,hraa ali ,ail,rss
, r,ao,r,c aIo,or Comnany y.or-
...n 49,.
ganizea under laws OF Ne" Jersey WIN osp'-
'aliIa,ion a. s''ooV'o"".
S'mllar trahsl company organizer III
Toronto.
In fourteen other cities similar opera
tions we're started or about TO be launchd.
Berg's trail leads through a dozen American
cities. Detroit, Chicago. Philadelphia. st.
Louis. Cleveland, Pittsburg and others:
then into Toronto, Canada, and to London
and st. Petersburg. Berg's plan ia to or
ganize companies to operate sightseeing
auto buses in cities. manufactured from
patents in which he claims a controlling
interest. Several machines have been built
from his specifications. but so far az known
none of them has been operated with sue
cess and no dividends ever have reached
expectant investors. Offering prospec-
fuses, however. continued to bring plenty Of
stock buyers.
The total capitalization of Berg's known
companies exceeds 81. OOO, 900. with a good
proportion of that sum paid in. In bet roit
Berg was lavish with stock in his concerns.
trading some Of il much below par to settle
expensiy We tailor and hotel bills and for
rent Of a summer home al Crosse Isle.
The windup Of Berg's affairs here brought
testimony from Philadelphia, Pittsburg,