The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-08-10
AAHUTMADE $4,000
BY SALE Of MOTOR
CAR STOCK
financial Transactions Unusual
But May Not Have Been Illegal"
Says Judge Lockwood, Attorney
For the Concern
Absence From City Not Related To
Difficulties of Company, His
Friends Declare.

Friends OF Johnnie" Anhut, the boy
senator, who defeated the veteran
campaigner. Joe" Greusel, In the Re-
publican primaries two years ago and
VINO Is up for denomination at the ap-
preaching primaries, feel that an in.
justice has been done him by certain
parties in associating his absence
from town with the difficulties of the
Anhut Motor Car Co. While they
say they do not know Just where he
is' tney are convinced that he will be
BACK In Detroit within a few days.
Mr. Anhut went north on his vaca.
.on couple OF weeks ago and will
uouptiess return In due course of
ume. said ex-Judge Miner, member
OF the irm of Miner, Anhut & Chad
dock, Tuesday morning. Mr.. Anhut
mas entered the race for renomina-
ton as senator and / have every
reason 10 believe that he means to
De on hand for the light He had no
reason to fear any trouble In connec-
uon with the Anhut Motor Car Co. .
8 anairs, 80 far as | know. | under
stand there was some question about
'No''tJ VI tnt way SOInt OI tue
stock was disposed of by him, but
that Is merely technical matter
winch might arise in the best of we'll
regulated concerns. have always
found Mr.. Anhut honest and upright
and don't think he would knowingly
do anything that wasn't just right"
Judge Lockwood, of the firm OF
Clark, Lockwood & Bryant, who is at
torney for the directors and also the
creditors of the Anhut Motor Car Co.,
said Tuesday morning that he knew OF
no reason for the disappearance of
Johnnie"
fnu AHfUt COMPANY has been hav-
Ing financial difficulties" said Mr..
Lockwood. but il is making a big
effort to get matters adjusted salts
factorily, and the prospects for wealth.
ering the storm are better now than
they were some time ago. The com
pany has received an extension of a
year and half to meet its obligations
TO the creditors, and II Is to have a
meeting on Friday of this week to is
sue notes in connection with the ex-
tension. The notes are to be payable
In installments and are to bear five
per cent interest. This will give the
company good chance to get on its
feet again, for IL will be able to make
cars and sell them during the time OF
the extension. This scheme will be
better for the creditors, for IL the con-
Germ were to go into bankruptcy now
there would be very little for the
creditors.
In regard to Mr.. Anhut's transac-
tons, | don't know that he has done
anything OF criminal nature. II Is
true, however, that the stock was dis
posed OF in manner somewhat out
of the ordinary, but there may have
been nothing illegal about it, The
stock was sold by the firm of Miner,
Anhut & Chaddock on contract
which the promoters, three men
named Ahearn, Lonsby and Thorpe,
made with them. The promoters al
lowed the law firm to sell the stock,
the par value OF which was $40, for
what they could get, stipulating, how
ever, that So was to be paid into the
company for each share sold The
directors of the company afterward
approved the contract. Now IL Is just
a question whether the promoters had
the right to make such a contract
with the law firm. Thus far no action
has been taken against Anhut, but
there is no telling what may be done"
William Walker, the caterer, now
president OF the Anhut Motor Car Co,
says that Anhut is thought to have
made upwards Of $4,000 on his sale of
the stock. He also says that two
brokers got $1,000 in commissions on
their sale of stock, one getting S1.10O
anS the other $500. In some in
stances Anhut sold shares at $40, thus
making s. on each, Mr.. Walker added.
Anhut was prssk.ent of the company
for some time, but was deposed after
the financial difficulty arose While
at the head of the concern he drew a
salary of $4,000 year