The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1916-12-28
c he MICAL PLANT
At STAMFORD IN
ALLEGED EXPOSE
Boston Paper After Bennington
County Concern
COMPANY HAS RE- ORGANIZED
Newspaper Story Hints at Two Stock
Selling Operations With Not
Many Assets In Sight.

The plant of the Union Cement and
Chemical company at Stamford,
which was sold by Bennington coun-
ty owners some two years ago to in
terests without Vermont, is the basis
of sensational story which appeared
in the Boston American of Tuesday.
THE plant, which is not now run
ming and which is in charge of the
foreman, is said to have been the
basis of stock deal when the Union
Cement company was formed and is
now being offered as the basis of
another stock deal under the corpor-
ate name of the Woods Product COM
pany. 1t is asserted that the Union
Chemical company was a half mil
lion dollar affair and that its stock
is now claimed to be worthless, and
that the new Wood Products COM
pany, launched six weeks ago, is an
other half million dollar affair.
Speaking of it's allegal revela-
tions, the Boston American says
that they concern the formation of
two companies to operate the same
plant for the manufacture OF chem
icals from wood. When one com
pany capitalized ten months ago for
100000, had ceased to operate the
plant. which is now mortgaged, an
other was formed to operate the
same plant, and a selling campaign
is now under way to dispose of an
other half million in stock.
Connecting the alleged stock
transactions with the firm of James
J. Benelisha OF Boston, the Ameri-
can goes on to describe the ven
lures as follows:
AT Stamford. VT. almost within
sight of the famous Mohawk Trail,
which winds down the side OF one of
the Berkshire hills, is located a plant
which until early this year was con-
Quoted by Stamford residents for the
manufacture of charcoal, chemicals
and wood alcohol from wood.
1T is this plant-a cluster of
small wooden buildings-which is
the basis for the promotion of two
companies-th Union Cement and
Chemical company, being first or
ganized and being floated for a half
million of dollars, and the Wood
Products company, making its ap-
pearance six weeks ago with the
same capitalization.
Officials of Cotter and company,
a brokerage firm formed eight weeks
ago at 80 State street, and who are
selling the stock in the Wood Pro-
ducts company, today declared that
it was the plant at Stamford, VT,
to which they refer in their circu-
lar setting forth the tremendous
profits to accrue to investors in this
Similar predictions and promi-
ses were set forth in circulars and
advertisements emanating from
James j. Benelisha and company,
when the Union Cement and Chemi-
cal company was fioated six months
before to provide the funds to take
over and operate the same plant in
the Berkshire hills.
Union cement stock was sold very
lIeSll W uuuuItuS VI pSOplo III DOS-
ton and New England. Wood Pro-
ducts company stock is now being
sold. In many cases efforts are be-
ing made to sell the latter stock
to owners of Union Cement.
Both companies were organized
in Portland. Me-, and Incorporated
under the laws of Maine. The cap
ital stock of Union Cement is 100000
of which 100000 is common and $l00,
600 preferred
mo definite itemized financial
statement could be obtained from
those who had sold Union Cement
stating just what assets existed up
on which this stock was issued.
The value of this plant, which is
not now running, could not be ascer-
tanned, but there is a mortgage of $40,
600 on record against IT,
No record of any other assets
could be fOund "