The Detroit times., 1915-05-05
LEETE is
LET OUT ON
$500 BAIL

ntip me get tue IlAkliAh '"SNSA ~
Co. started" said Leete.
lie said that II there was any
trouble in the company, the
trouble would have 10 be all within
himself.
II am the company" he said.
why shouldn't be- None OF the
men associated with me put IN
money. W. II. Radfcrd. the engi.
neer, has $40 worth OF stock. =. r.
Bennett. who had been promising
for months 10 produce solid capital
10 back the concern. never gave me
anything but promises, and hasn't
a cent in the concern On the con
trary. paid him $500 advance com
mission for obtaining money that he
never obtained loaned him
money. and advanced him money on
several occasions.
"As 10 Radford. the engineer who
designed the car for me. paid him
a regular salary The company was
nv own plan and my own idea. and
| tell you frankly, | expected 20 get
rich from Il. The only trouble was.
that men who had told me they
would back me 20 any extent. failed
me at the crucial moment
This man Bennett, blame for
my arrest. lie came 10 me in Feb
ruary and said he could put in
enough capital 10 start the concern
we'll Once he flashed $1,000 IN cash
on me. and said: That's just for
felt II I don't get $4,000 more in
week. this goes 10 me as q for.
felt He told me that his wife was
wealthy. and would let him put her
money into the concern. He told
me be controlled s2Os.o00 worth OF
property But he kept delaying and
delaying putting any money into
the concern.
Il am satisfied that the plan OF
the people who caused my arres, Is.
10 get me in bad and then take up
the contracts and applications for
Pilgrim cars, and freeze me out It's
a big proposition.
Il have signed contracts for 1900
cars. and applications for 5000
more. And as fast as could build
them. | could get the money. make
big proat. and settle every obligs.
ton I have.
The only obligations are those
contracts With some 20 men who
gave me 500 or 5000. with the
agreement that II they were salts
factory. they could have good Jobs
and II at the end Of 30 days. they
did not prove acceptable. they could
have their money back with inter.
est, or could have stock I didn't
want TO sell stocS. I wanted 10 keep
il myself. That's Why chose that
plan. And that's what caused the
fellows associated with me 10 make
trouble for me-
Leete said he was making $500 a
month and expenses travelling for
overall concerns. when he got the
automobile idea
''wouidn-t be q sucker 10 give
1OtN tttAu ~ yr1N VI hils llLc 10 THIS
Pilgrim company. with any idea OF
fraud in the affair. when could
make my $500 a month and ex-
penses tomorrow. by going back 10
either Sweet. Orr 4 Co. OF New
York. or the Peabody concern. in
walkerviIle! demanded Leete.
Leete declared that there was
100000 worth Of stock In the con-
cern. or that amount, he held si30.-
900 worth. and the rest had not been
issued.
They probably thought was
hogging f." he said. But Why
shouldn't I hog f., was giving my
time and efforts 70 H. IL vas my
own plan. II was going TO make me
a rich man. And I was paying the
rest OF them"
Leete admitted that he paid the
rest OF them out OF the money re-
ceived from his prospective foremen
and 35-cents-an-hour men.
Detectives Golden and Bandemer
held another conference with As
sistant Prosecutor Robinson. Wed
nesday morning. and IL IL expected
that q warrant against Leete will
~ aaEaG To-