The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-25
STOCKHOLDERS WILL
FIGHT COLLECTION
Union Stores Receivers Issue Notices
to All Who Have Not Paid
They Will BE Sued.
RENT OBLIGATION Is LARGE
Defense Will Be Mismaagemens On
Part OF Observation-Disclosures of
Persons Involved Exceed 1000, Ar-
cording 10 Books.

Final notice having been issued to
delinquent subscribers to stock in the
Union stores BY the receivers, b. Rand
Wexford and B, r. Dew that unless
payments are promptly made suits
win be instituted, to force collections.
the stock subscribers are organizing
an effort to fight the suits In the
courts. Or. f. e. L. Miller is receiving
communications from subscribers who
are banding together to contest tho
actions threatened by the receivers.
One of the most interesting legal bat
ties fought In local courts in long
time is promised as a result.
The Union Stores. cooperative
concern. which opened quarters at
Seventh and Franklin Streets and be
gan business. went into receivership
several months ago. large number
of subscribers to the stock had not
paid for their stock, though some of
them had paid partially few days
ago the Chancery Court entered an or
der directing the receivers to collect
at once from all delinquent subscrib-
ers and the following notice has Just
been mailed out by Messrs Wexford
and Dew:
Ordered 70 Bring Suit.
y
has just entered an order directing the
undersigned receivers to collect at
once from the subscribers to4.fhe cap
ital stock of Union Stores. Inc, tho full
amount of the unpaid balance on each
subscription; and further ordering the
receivers 70 institute suit In any and
every case in which suit may be neces-
sary TO compel such collections.
The balance due by you Is -.
o.
present. to the above address,
Please give this matter your imme-
date attention. for unless we hear
from you promptly. we shall institute
suit without fusther notification.
In the interest OF those who are
threatened with enforced collection of
stock payments. DR.. Miller published
In Richmond newspapers yesterday the
following notice:
Large Group 80 Resist.
''Ali parties threatened with suit
by receivers for the Union Stores. Inc,
and who are willing to join with a
large group OF stockholders TO contest
such action are requested TO commun!-
cate with E. c. l.. Miller"
That they will resist TO the last the
efforts OF the receivers TO collect UNI
paid balances is shown ythe number
WHO responded 20 the call by DR.. Mil
Ter yesterday The stock subscribers
object TO paving further on the grounds
that the company was not properly
organized and that IL was not q legal
corporatiou that the pledges aud
money 'secur.s by solicitors for the
company we obtained through false
representation. and that those who
are responsible for the present condi-
ton of the company, through mis-
management should be held liable for
all the losses
Say Building Owner Chfef Promoter.
The subscribers who have not COM
pleted their payments and there ara
aboutS2, 500 OF them, IL is said. declare
that the receivers are to sue stock
holders and make them pay Sl00.T1g.5a.
the amount due on the stock for the
purpose. they assume, of paying 20
the owner of the building. $4,000 a
year for FIVE years-s75.oo0 when the
owner was the chief promoter and q
director in the defunet concern, and Ia
guilty, along with the other directors.
OF Acknowledgement"
THE subscribers point to the fact
that s45,93S50 OF the stockholders
money was spent in elk months or
canning a store that WAS never or
ganixed" as evidence of mismaneg
msnt.
Figures taken from the books OF the
Union stores at the time the concern
went into the hands of receivers. show
the following
Number of stockholders. 2,5ob.
Number of stock holders who have
paid In fun. 1853.
Amount collected on stock. s4s. $3.50
Amount due on stock. sioo.7i7.so.
Outstanding obligations, si7,32e.s+.