South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-12-27
ARMSTRONG CLAIM
OF PARTNERSHIP Is
ABSURD, TEX SAYS
Fight Promoter Replies to
Double-Crossing Charges
Against Him.

doesn't mean anything.
"In the first place" declared
Fickard. in statement embracing
his legal tilt with Frank c. Arm
strong. Of New York, II already have
secured from the court a stay Of
execution IN the matter Of receiver
ship. No receivers will take posses /
sion OF the properties until / have
had a chance 10 prove 10 the cBlrt
that the appointment OF receivers is
an action which is wholly unwar-
ranted and not within the law as re-
Eards my properties.
Not only are the Madison Square
Garden Enterprises under my con-
troll well managed and we'll conduct
Ell. but they are showing profits
which in ratio 90 investment, are be-
yond anything OF their kind in the
world. OF all the many boxing
shows which I have put on within
the Garden since I took control. only
two ever lost money. Che was
81 600 loser and the other lost
5000. That. I am confident is a
record without parallel
Naturally. then 7 am prepared not
only 20 show that my management
OF the properties has rolled up huge
profits for both concerns. but also
10 show that the management of
those properties by receivers would,
instead OF helping financial matters
possibly act the other way"
Richard. discussing Armstrong.
and the claim by Armstrong that
Richard double crossed him, said:
partner OF mine I'm securing the
lease on the Garden, and that he is
a partner OF mine in other ventures
is an absurdity. I say that Arm
strong never was a partner Of mine
In the full sense OF the word.
1T Is true we held stock in tho
same oil company But that didn't
make us partners any more than it
would make a bootblack and a mil
liOnaire partners in a mining con-
pany If the bOOtblack held a single
share OF ten cent stock and the mill
liOnaire owned a million dollars
worth.
II have known Armstrong for
Years We were friends. But that
doesn't mean business partnership.
I never got a dollar from Armstrong
and no never got a dollar from me.
We never exchanged money in any
way in a business deal. We did dis
Cuss various business enterprises. as
is the usual procedure among bust
ness men who are business friends.
But we never were in any business
partnership at any time and l defy
Armstrong 10 prove otherwise.
frr- Is ha
the profits OF my ventures in the
Garden He charges that ] agreed
that he was 10 be a partner OF mine
and that. when the lease was signed,
i declared him out. after he, as he
claims. had assisted me in getting
the lease. That is untrue I got the
lease. Armstrong had nothing what
soever TO do with concluding the
deal
When I first started negotiations
for the Garden lease. Armstrong
hearing about It. came 10 me and
said ne though he could help me. I
welcomed hts help. assuming that he
meant 20 help me as one friend helps
another. He told me that he could
get some OF his friends TO back the
venture. but they never materialized
when I found that Armstrong
with all the influence he professed
TO have. could do nothing for me.
went ahead with my own ideas and
plans ABOUT getting the lease. Il
did get he lease and concluded the
deal without help from Armstrong
Then John Ringing became an asso-
ciate OF mine. We went ahead and
operated the Garden accordingly to
ideas watch I had. Our venture was
a success from the start and we
made plenty OF money all through
the 192O-1921 season.
Armstrong did nothing at all for
seven months. Then when he heard
that we were making money and en-
joying undreamed OF prosperity
Armstrong decided 10 declare him
self In. So he sued me. charging
that 1 had agreed 10 let him be my
partner. that he had helped me con
clude the deal which got for me the
lease. and he demanded that the
court rule that I give him half the
profits which had come from hard
work which Ringing and I had en-
saged in through operation Of the
Garden.
armstrong never put a penny
into the Madison Square Garden
venture. never offered TO put up a
single penny or any other sort Of
money: we never had any agreement
written or oral which could in any
wise give him the idea that when I
= concluded the lease that he was
partner Of mine in any sense OF
the word.
That Is my story. and IL is the
truth and It Will be supported in the
court OF law when the proper time
comes"