The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1921-04-15
Bubble Bursts
Most Speedily

The collapse Of the Industrial
Transportation Co. scheme is no sur
prise to many in this community.
among whom is The Times. The
bursting of this bubble is also a real
shock to many others, a number of
whom held a thousand dollars or more
of such stock. The Times Is not going
to say "I told you so" to those who
have been so unfortunate, as there is
no sympathy or real human feeling
in such senseless expression. It
does indicate, however. that "Observ-
er" and other articles published in this
paper a few months ago, for which
The Times was more or less criticised
--even blamed--struck the nail
squarely on the head.
Our most earnest sympathies are
hereby. extended to those who have
been swindled in this most recent big
swindle, which was disguised under
the apparent protection Of the law.
which the great mass of the people
appear still to believe protects them,
as tax-paying and law-abiding citi-
zens. This is an entirely erroneous
conclusion, as the law really provides
but little projections from grating
and get.rieh-uuick concerns in this
day and age. The people are left
largely to the mercy Of the robbers.
among whom there is constantly in
croa sing rivalry 10 1reach us f;rst',
But their loot win be very materially
reduced after the tax collector finish
es with us this wear.
The following n regard To the afast
workn of the Industrial Transnorta.
t;on % is from Tuesdav,s Elnhe-
Democrat:
The appointment Of receivers for
the Industrial Transportation Com
panv. a 500 900 O(l(l concern onerating.
grocery stores in Missonri. Louisiana'
Arkansas and Texas. which declare3
itself insolvent SATURDAY.. will be made
this morning. accordinV In an an
nouncement bv limited States Dist;rct
Judge Over AZ a hearing vesterrjav
afternoon The Officers of tha com,
panv are in tbe Iaclede bnild;ng
.IEd0e Over stated that in HE on;n.
ion there sbouid he two receivers he
cause of the comnlexitv of tha oroan-
ization of tbo camnarv Ha asLaJ
that the dtt0rnpVg confer IN an nj
temnt 10 agree On two receivers m
event that thew do mot aSree bv IN
o,clocl th;s mornino the con,t u,iII
annoint the receivers n was annourc-
ed.
FoIlow;no the filing of tho ;rvoI,,p
tarv netit;on in. hanIr,ntcy aeo;ns+
the comnanv last Satnrday the COW,
nanv tbrouoh its off;cars fiad Z val
untsr$ r,atssia,s' Fach of thesa r,st;.
tions alstea tf,af 4 4s..ss recetSer .he ,ssmad I
w. H. woodward. counsel for the
appeared n court Yesterday
morning and asked for an ;mmediate
appointment of a receiver. He stated
nat the company had stocks of ner-
isbabie goods which Should ha d;spos
stores the company operates a pack
ing plant at Little Rock, Ark, accord
ing to Woodward.
1t is said that difficulties resulting
from the sale of stock in the company
are responsible for the bankruptcy ac-
lion. The company is incorporated un-
Ter the laws of the District of Column
oia for $20,000,0 900.
Assets listed in the petition total
SL656,665 and liabilities $472,2S5.
The petition states that there are
,ther claims which have not yet been
which will appear in a
supplementary petition.
The claims are itemized as follows