The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-18
UNDERTAKEN ISSUES
REPLY TO CHARGES.
William Necker Denies He
Ever MisapprOpriatcd
stockholders Money

William NeGker of Union ia. MO
calls himself the worldwide knowu and
largest undertaken in III. world .ssued
a statement last night DENYING every
statement contained in the hiil Of com
plant nled by minor stockholders o.
William Nccker. Inc. In an application
TO thu Court OF Chaucery for the APP
pointmen, uf q receiver Cor the co'por"
tion.
4 am accused of misappTopr.stin,
the funds OF the stockholders. he sald
81 wish 10 deny this emphatlcallN, an.
at the same time | wish 10 stale that
I am under bonds as treasurer and
president Of me corporation
"pn February 20, 1919. | contemplated
Incorporating my business after ! hal
fully completed and equipped one ot
the largest Giants ~ the world en-
pl. we'd the Audi Company Of 10 Broad
way. New York, to appraise my plant
andp roperty and the auditors gave me
An engineers certificate IN book lorna
showing al inventory - "a gui"S cone
Germ of s22T.i55. Immediately there
after had the Aud Company furnish a
statement dated February II, 1913.
showing my total assets OF s3+0,13S.I"
with liabilities oil x2Uj,1s212 including
mortgage n plant, leaving a capitlf
and surplus Of <l3t.Hj6 This report
also shows that | had done a ero-s
amount IT business Of <+25,tS'.05, with
a net profit from operations OF s12,33ll+
and that | conducted t,llA funerals dur
ing the year !yl-.
'On February 81, 1914, | had ;ie
Audit Company OF New York maze an
p ,ther report, which shows a total assets
Of t467,792 20. with liabilities OF S@'S,-
666.dN, leaving a capital and surplus ~
st6s.723.5j. TINS report shows ear
had one a gross amount Of bus ross
Of Si@d,72N.31, and made a net 3'olt
from p,rations OF sii,3I3.I2, aud that
conducted $50 funerals during ne
YEA 1919.
ION January /. 1918. | enploy Ell
Charles y. Perry. a public certified ac-
couutant, formerly in charge Of the
Audit Company of l65 broadway. New
York, and his report shows total assets
of S567.ll5.s3, with a surplus Of S2H1,-
35S22. This Statement also -hows a
net proiit from operations 81 $50 noo.
Il also wish to state that the slN
stockholders VINO applied to SHOW cause
WHY a receiver should not he appointed,
hold jointly about Si000 worth OF our
: ock and every one OF them have re-
ceivei their dividend checks. which have
been cashed al the First National Bank
town Of Union. y. J.
Mos Of the trouble | nave had dui 70
ing the las three months has been
brought about by my competitors and
Articles published IN their trade journals.
\ short time ago a complaint Was made
to the Federal authorities that / va.
us.nC the mails for d~cfraudiug puT-
poses Pos master John Merritt of
Union I'm came to my office and made
an inspection of our hooks, reports and
everything else appertaining to the
business and plant, lie left without
finding any fault
Shortly thereafter a complaint Was
made TO the Bronx Grand Jury. ar-
Cidentally heard Of this and went 20 the
Grand Jury, signed a waiver OF i'm
muuity and produced All our hooks and
statements tor Inspection. After five or
si\ days | MAS told TO take the books
and 80 back 20 Jersey"