New-York tribune., 1922-11-21
Elliott Il Voted
Confidence by
His Cow orker.s
Action Follows Upon Five
Involuntary Petitions i'm
Bank kriptcy Filed
Against His Enterprises
They Deem Storm Passing
Anxious Letters From Se-
curity Holders, However.
S n % w Less Optimism

Alter IHNoiuntafv peSStioDs IN bank
rnptcy had placed in the hands OF a re.
eeiver late last week five corporations
cf which James w. Elliott was the NOV
ing spirit. Mr.. Elliott, the chief of the
Business Builders, who is at home i'll,
yesterday received vote of confidence
from executives. statesmen and other
employees Of the alleged insolvent
corporations.
Followers Of Mr.. Elliott, or Jimmy"
as they afectionateiy call him. con-
vened hopefully at the stock selling
company's headquarters in the Knick-
eroocker Building confident that the
passing troubles were only tempo rary.
Unbroken loyalty to James w. Elliott.
man builder and writer Of inspira-
tioGal messages, was affirmed. Sales
men who have stopped sellinr Nanbsf-
ian PigFiy Wiggly securities have. been
asked to reassure their customers, ard
many o. them give tne impression that
they expect the storm will blow .ver
and that the task of inducing sundrv
ioIk to exchange cold cash for the COR
tlhcstes can be resumed at some later
time. - wa
Allegiance TO Mr. Elliott vas az
pressed in this resolution:
we, the executives, ssIesmen and
employees. Of James w. Elliott's Bust
ness Builders, Inc, and Manhattan
Piggiy Wiggly Corporation, desire, TO
state our complete confidence in James
W. Elliott, president of these com
panies, and in William C. Bentley, gen
eral manager in charge of operations
Of Manhattan Piggly Wigglv Cornora.
ton, and in their ability and intention
10 protect the interests OF every one
concerned"
Number Present Not Stated
This public statement-and Mr.. ELI.
oft and his associates were ALWAYS nf-
tective creators Of publicity-gives no
facts as to the number present at the
meeting, but says:
here was meeting held at 10
CLOCK TINS morning in tho Offices of
James W. Elllott's Business Builders,
incr at 1o2 West Forty second Street
by tho executives, statesmen and cm,
ployees, many of whom have been con
nected with James w. Elliott's Busi-
ness Builders, Inc, and the Manhat-
tan Piiggly Wiggly Corporation and it's
subsidiary companies since their incep-
tlon. With knowledge of the circun,.
stances which brought about tbs nres-
ent conditions, including the recent
discharge of certain executives and
employees. those present voted their
complete confidence in James W. Eli
on, president of the above named com
panies, and in William c. Bentley, ger
efal manager in charge OF Manhattan
F'ggly "'ggiy Corporation operations.
and an absolute faith in their abilitv
and intention to protect the interests
OF every one concerned. For Mr.. FL
lotts leadership, particularly at tho
present time, when it was explained
that the interests of the stockholders
would be protected, there was an ev-
preston of complete LOYALTY and of tho
utmost cooperation in the event of
reorganization"
Outsiders were lesa optim;sta,
ANXIOUS letters from security holders
asking what, if anything, could be done
TO salvage their interests were sent to
the financial editor Of The Tribune.
VINO has consistently for nearly two
years advised against the purchase for
investment purposes of any Of the
securities sold by Elliott's Business
Builders
Mr.. Elliott, who is reported to be
under physicians care because of a
nervous condition, again refused to
break his silence. At his home. six
Park Avenue, it was said chat his
health was slightly improved, but that
he was still weak.
Tells of Future Plans
V. l.. Leibell, Of the firm Of pbil,i,.
Mahoney & Leibell, attorney fer the
alleged bankrupt corporations, indi-
Gated that the usual course in bank
TTuptcy proceedings would be followed
ne said that after the accountants for
t.i ehe receiver. Percival Wilds, 2 Rector
street, make a report after an audit
ehe data Will be submitted to creditors
ana plans for reorganization will be
when we reorganize," said Mr.
helpeli' we hope to get good chain