Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-04-29
u. S. ASKS REEIEARING OF ANTI TRUST Steel CASE
$4,0OO,000 MADE
ONCOCA-COLABY
TWO SYNDICATES

With w. C. Wardlaw, vice presi-
dent of the Trust Company of Geor-
gia on the stand, the taking of testi-
mony before Commissioner Harvey
L. Parry, in the injunction proceed
ings of the parent bottlers against
the Coca-Cola Company of Delaware,
was resumed Wednesday morning.
Mr.. Wardlaw was subjected to a
lengthy examination by Ben Z. Phil
lips, representing the bottlers, and
to a cross examination by General
Clifford L. Anderson, of counsel for
the defense.
The requirement by the Trust Com
pany of Georgia and certain asso-
ciates of $4,000 shares in the Coca
Cola Company of Delaware at a cost
of s. per share was the subject Of
a sharp examination. 1t finally re-
suited in counsel for the Coca Cola
company declining to produce the
original agreement relation to the
subscription to this stock, and the
judge of the Fulton superior court
himself will have to determine
whether the agreement is pertinent
to the issue and permissible as evil
dence.
S. c. Dobbs, president of the Coca
Cola Company of Delaware, testi-
fed last week that the Trust Com
pany of Georgia and certain asso-
ciates had taken $4,000 shares of the
stock in the corporation at SIS per
share. Attorney Phillips sought
from Mr. Wardlaw, as vice presi-
dent of the trust company, further
information confirming this transac-
ton. He demanded production of the
subscription list for stock in the
new company. Harold Hirsch, of
counsel for the CocaCola company,
stated that. the subscription list had
been furnished and was before the
commissioner.
SIS Subscription List
Mr.. Phillips read from a book the
following subscriptions for stock in
the Coca-Cola Company of Delaware
at S. per share:
The Murlyn corporation, 10000
shares.
The Sherman Investing Co., H.
600 shares.
Charles A. Sabin, $4,000 shares.
Trust Company of Georgia. 24900.
Newmont corporation, $500.
AS indicated, these $4,000 shares
cost the subscribers S. each. maxi
ing the total subscription S415 900 by
this group to the capital stock of
S29,000,000 corporation,
Attorney Phillips, insisted that the
mere entry on %he book of these sub
scriptions did not illuminate the par-
! ticiration OF this group sufficiently.
He demanded of counsel for the de-
Tense the original isubscription
agreement. William Gambler. treasiir-
er Of the Coca-Cola Company of Della
ware, indicated that perhaps this
agreement was at the offices of the
company.
Some time afterwards Mr.. PhiHi0S
renewed his demand for the original
subscription, and General Anderson.
speaking for the defendant. declined
to deliver, whcrcupon Mr. Phillips,
questioned Mr.. Wardlaw concern1nn
the identity Of the members of this
group.
Explains Deal
Mr. WardlaW stated that the New
mont corporation has offices in the
Bankers Trust building in New York
and has for it's president a Mr..
ShultZ, who deals in stocks ana
bonds He could give no further in
formation about it. he SAID
The Sherman Investing corpors-
ton and the MurIyn corporation. he
believed, were enterprises in which
individuals interested in the Chase
National bank had an interest.
After Mr.. Wardlaw had been ex-
amined in considerable length con-
corning other phases of the pur
chase and reorganization of the
Coca-Cola company, he was taken
IN hand by counsel for the de-
Tense. Attorney Anderson de-
veloped that the stock subscription
at 80 share by the group, including
the Trust Company of Georgia. the
Murlyn corporation and others. had
never resulted in any money return
to the subscribers. Mr.. Wardlaw tes
titled that this s. stock represented
ithe profits and the return of ex-
pehses incurred by this group in the
promotion of tho entarDrice