Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-04-30
HSCnIBERs PROMISED
HANDSOME PROFITS

II its advertising literature the COM
StAy held out the pr6mise of partici
! oMI IN in~ n business That was TO be-
Ai& la big money-maker. because of
|vnnco-operative interest that would
81 aiken in it by n large body of
~ holders. each personally and i'm
htely interested In its success.
OpNso- operation, however. failed TO
TOT ialize, and the business. in spite
sAnGB.ly liberal advertising. was from
tie Uginning conducted ut loss.
AisE Hers reached n crisis In February.
,,ris,T T editors became threatening.
-, hce between the directors OF
49, Germ and the creditors resulted
si.st'eo. agreement OF the latter to grant
5 "a "a tension Of several months. in the
syn that collections from stock sub
q lessons and hoped-for improve
ggsrhl business would enable the con-
3 s,4l a meet its obligations.
r ~ Il, the company established itself
@.,is,,i. !uilding Mt Seventh and Frank
80. is, 1t obligated Itself to pay
- w4ier. William c. Schmidt.
c $4,000 year. 1t was soon
owever, that the business WAS
.IH acting tho expected patronage.
ST. &,rl Schmidt, in order to assist In
the concern on4;a permanent
agreed temporarily. to remit
s.dta E3pof this rental. charging the
hood r. only $3.50 month. or $4,000
y y Cor the use OF the basement to
who, 8e business was confined.
notorSu PROBLEM WILL
EnotatE FIGURE IN SETTLEMENT
az hGlS.ated, however. that this con-
RtyphS 4kvas not TO hold good in the
ha ri tpf ha
~ ontrT receivers or was otherwise
.ct r4s3ind up. In such an event, 1t
rstood. the agreement with Mr..
made the original $4,000 lease
80 IS operative. The lease runs for
t3iace ars. The rental problem. 1t was
CARR yesterday. Will be an important
sow that Will have TO be dealt with
Z lcge,idating the concerns affairs.
/ Waper authority conferred upon
q by Judge Moncure's order. the
gers are empowered 10 proceed AT
llS-, 10 collect all outstanding stock
- - ptions that are due. Attorney
&grehr, for the Union Stores directors.
i sVervesterday that every effort will
1t is - to force payment Of unpaid
ling a due subscriptions.
mated y of the subscribers against
interest ions have been brought IN the
K
threat h,Aces cour'. is UNDERSTOOD.
Sneutrali,, counso, 70 o,s,s 'ne COZ
q aong the defenses that VIII
ed. 1t is stated. Will be the
Avon Of the Union Stores dircc-
s at recent meeting issued n
attributing the failure of
ny = TIA ITO mismanagement
TsattEEY REVIEWS
s. ore SHISTORY OF COMPANY
al 4S3nelG. n member OF the board
.ctors OF the Union Stores. last
~ issued lover his signature n
|S4u ent COVERING seven typewritten
I'll detailing the considerations that
49, theEesta blishment OF the enter
- nd the difficulties that the con-
sse Icountered.
l52ert statement concludes:
g&rai ok; that the city should feel
4s,rflI 10 these men for q strenuous
s aid for effort to establish a
- operaticc, cut-rate store In
&v f- trust that your paper will
q give them the creditable men
49, at they deserve.
have been no Irregularities
Esneas. agances on the part of any
ether,,ae cred with this Organization.
ing IT,. tents to this effect, IL, indeed,
MAJ tie, been made. could have been
4, On before published, II the
an publishing them. had seen
x Did dsa @sgiew OF Investigate the mat
III ~ lev promised by the stock
{ - 80 knot paid: neither aid they
4 pay 49, store, consequently IL did
inaster Sectors naturally regret any
Cont.