Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-02-24

list is given as Carrier. president; II.
j. Stokes, vice president Il. ID. Fox.
treasurer. and NJ. II. Fox. The list
shows that Reuben III. Pcake, W. a.
Breisacher and Charles Gomprccht re-
Gently resigned.
According to both Mr. Kun and Mr..
Williamson. the United Guarantee Cor
poration, bought common stock In the
Auto Stores Company for Sof share
and sold 1t for what it could get, up
to $50 share.
Sales Last Week. SlO.SOO
Last week. Mr.. Williamson stated to.
day, the income of the United Guar
antee Corporation was S10.S0O. OF this
sum it expended $1,000 in salaries and
commissions. 1t is said that the en-
ployes of the Auto Stores have not been
paid for two weeks. some of them not
for three weeks.
1t is claimed that moro than SO 900. =
600 was taken from the gullble for
stock
Yet in spite of the huge stock sales.
it is said by Mr.. Williamson that the
Auto Stores Company has overdrafts
in the Philadelphia banks coming to q
total of S2.o19.1S0.
One Of the methods for catching
chascrs of stock members of the Board
of Directors of the Auto Stores Com
pany. To this end an elaborate four
page circular was sent out to pros
pcctive clients.
Answers in Detail" Advised
"Application for dictatorship" is
written in big, bold letters on the front
page. On the top of the second page
is a mote" to the effect that answers
should be made in detail. that the COM
mittee making the investigation may not
be hindcrcd or DELAYED. so that their
findings may be submitted to the Board
of Directors in the shortest time posi- :
bic
Then there is space for name. 80.
address. .... city,. State.... age.
date Of birth. -. white or colored.
business. -. married or single.
Then the applicant is asked If he
is a director of any corporation, if he
knows the duty of director. if he Gun
read and write English, what his bank
references are. If he has n checking or
a savings account. and il he Is a holder
of stocks or bonds in any other COM
pany.
"If So" says the circular. men
ton what stocks and bonds you arc
LV'A'S' - 'H' "HelHe'
common or preferred. If bonds, men,
tion whether industrial, utility or Gov
ernment bonds
Then the applicant is asked if he
owns any real estate. If he can spare
one month away from business each
month if necessary. and he is in
vited to give any other references. y
At the bottom of the page the buyer
is informed that this application will
be held as strictly confidential, and
sLouId vOur anpliration not he nre
sented at the next meeting. we shall
keep your application on file until such
time rs there may be vacancy on the
Board of Directors.
x,. , o,
."niuie boohs openeo
The minute books of the Auto stores
Company were opened today by the
receivers. minute of November 10,
1916, gives Carrier power TO run
the United Auto stores. Inc. las
if it were his own company and if he
were in business for himself alone, but
he is at all times responsible to the d!-
rectors for his actions. At that time
the authorized cnpltnl was lo'o'N,
shares OF ! per cent preferred stock and
lo,cOo shares OF common stock. OF no
par value.
ber % INio the capital stock was
increased by the issuance of 10000
more shares of preferred stock. par
value 500, and 10000 shares OF COM
mon stock, of no par value.
At a meeting October >. 1919. Is q
notation that the secretary announced
the new issue or stock had oeen onerec
to stockho!ders at Sl0o share for th'
preferred and 81 share Tor the common