Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1921-01-06
TRACTOR FIRMS
STOCK BARRED
AMERICUS DEAL
Judge Hixon Tells Of
Pursuit Of His $l5,-
900 Bonds

The license of the Mobile Tractor
company, a corporation which dur
ing the last few months maintained
an agent hereI attempting to dispose
of its stock, has been revoked by
the Georgia Securities commission
upon complaint of Judge J. A. HiXon,
of Americus, it is announced, from
the state capitool in Atlanta by Tom
Connor, chief investigator for the
commission.
1t develops that Judge Hixon, who
at one time considered investing in
the stock of the concern and then de-
clined, later lent $4,000 in regis
tered Liberty bonds personally to
the president of the concern F. j.
Ryan, and the treasurer, A. l.. Her
bert, upon their deposit Of 200 shares
o. stock held by them, market value
$4,000, as security for their per-
sonal notes. These bonds were short
ly transferred to the company and
an attempt was made to issue Judge
Hixon 200 shares of stock for the
bonds, which he refused. immediately
demand no return of the bonds. Des-
pite promises to return themE $10,-
600 worth oof them found their way
into the hands of DR.. A. B, Hinkle,
of Macon, who presented them to his
bank to have exchanged for COUPON
bonds. They were III the hands of
the treasury department at Wash
ington for exchange When Judge
Hixon's caveat reached there, stop
ping the exchange. In the mean
time the remaining $4,000 in bonds
showed up in Washington from else
where and were likewise held, since
which time the government has been
renting the interest to Judge HiXon
their owner of record.
Gets New Securities. -
While pressing the company for
return of his bonds, Judge Hixon OBJ
tanned as security $4,000 additional
paper, which, with the 200 shares of
stock, he still holds while the gov
ernment holds the bonds ownership
of (which probably will have to be
established.
b The Mobile Tractor Company
erected a plant at Mobile last year
to manufacture farm tractor,
models of which were exhibited, and
were preparing to begin operations
in a limited way January /. The f.
nances of the concern appeared to
be in good shape, but Ryan and Her
bert are understood to have been de-
posed recently by the stockholders. 1t
was series of suspicious transac-
tions with which these two had to do
that caused Judge Hixon to make the
complaint that led to closing Georgia
to the operations Of the concern so
far as selling its securities is con-
cerned.
Judge Hixon today dictated the
following statement concerning the
transaction:
Hixon Tells of Deal.
1T vas pending the consumma-
ton Q a personal transaction be-
tween Mr.. A. L. Herbert F. j. Ryan
and myself that the Mobile Tractor
Company, through the act of its pres
ident, enormously or illegally obtain
ed possession and assignment of $751;
600 OF registered Liberty bonds be-
longing to me. Upon demand from
me they. readily acknowledged the
error and agreed to return them
While waiting for the fulfillment of
this promise. | incidentally learned
that the Mobile Tractor Company hac
assigned the bonds to parties in Ma
con in discharge of It's obligati cons to
them; / then renewed my demand
filed eaveat with the Treasury De-
partment of the United States to this
transfer of the bonds, and also re-
quired of the company security for
its undertaking to redeem the bonds
and return them to me. They read
lily placed with me $30,000.00 of Sc
curities- that ] considered good, for
the prompt and faithful performance
of their undertaking to return to
ME these bHds; but they have not
returned them though continuously
agreeing to do so. .-.----.-----.-
Upon what | considered the mex
caaable delay in returnin@ the bonds
sand ether reasons, | mad complaint
TO the Georgia Securities Commission
The bonds have all been returned to
he Treasury Department and are
held for my account, as | understand
it, by virtue of my eaveat fled