New-York tribune., 1922-11-19
Bankruptcy
Is Sought for
Elliott Firm
Continued srem page sns,

hCuHtiHueh paNa oH61
"The business centers around James
w. Elliott, whose business record is
constr1ctively unique.'' Before start
ing Business Builders, Mr.. Elliott had
been associated with the marketing of
shares Of Liberty Starters and Federal
Adding Machines, promotions which
turned out unprofitably for the share
holders.
''To begin with" continues the liter
ary ,document designed to whet the
speculative appetite, Jimmy Eliiott's
men ara with him--with him enough
to fight for hini--every day In the fight
FOR business. There are far too few
businesses controlled through manly
affection. The Business Builders is q
conspicuous example of that few.
Naturally, the leader of the Business
Builders must SO conduct himself and
his affairs as co deserve admiration
to marked degree.
Business Builders Aim
"The@ Business Builders are really
founded and operated on the principles
made clear in 112 words, written bS
James w. Elliott. These are power
ful, simple words which, combined, an
swer the personal problems of evory
man in this great sales force"
A few of the basic principles in the
Elliott credo follow:
"Men Of principle are the principal
men.
"Work is life and good work is good
life.
"It isn't what you know, but how
we'll you know how to use what you
know that really counts.
"For, good friend, the trouble in
business Is not In lack of men with
ability--but the terrible lack Of ability
of men to use their ability.
'In life it is Just az important 20
forget some things as it is to remem-
ber others.
$50 don't forget to rememher-and
always remember to forget.
"And keep on keeping on. For. you
ere judged by the record that you
make--not by your ability to make
record"
Further the kit explains:
Having made business OF building
man-power for somewhat over ten
years, the most natural and instructive
thing which Mr.. Elliott might have
been expected to do was just exactly
what he did do. In other words, he de-.
termined to establish a business of
building American business institu-
tions, and started to do 80 without
X,
but with the absolute faith and con-
viction that he would succeed by con-
sistently applying the same funda-
mentals of life which he himself lives
and with which he deals in the text
OF Man Messages
Ideas Embodied in Play
Mr.. Elliott also embodied his philo-
sophie notions in play, produced
couple of seasons ago, -on Broadway
for q short time and called IA Man in
the Making"
These views, presented regularly to
ing Thursday night meetings, first at
Carnegie Hall and later in the Engi-
neering Building, on West Thirty-ninth
Street. had marked influence on the
selling force, which was transmitted
to customers. The Elliott cult won
many converts, and steady stream of
Inquiries was sent to the financial
editor Of The Tribune concerning
james w. Elliott's Business Builders,
Inc. and. sundry other companies with
which Mr.. Elliott contracted to furnish
men and money. Without a single ex-
ception. the answers which appeared in
the investment column, of The Tribune
advised against the purchase for in
yestment purposes of any Of the securi-
ties sold by the Business Builders. AS
early re September, 1921, criticisms Of
the investment character of Business
Builders shares appeared, and com
nent on Man Message Corporation, Of
which MI Elliott is president; Urban
Motion Pictures, Carlisle Cord Tire
Corporation, and other companies
financed, appeared many months car
Her.
Mr.. Elliott attracted men to his sales
force by paying attractive commissions
and by promising to promote success
ful stock venders into executive posi-
tions in the client corporations. The
turnover of statesmen was enormously
rapid. Nix. Elliott informed the finan-
cial editor of The Tribune in conver-
sation that Business Builders charged
Manhattan Wiggly Wiggly 25 per cent
commission for selling its securities
Of which half went to the individual
salesman and half to the company.
Moreover, Business Builders he said.
received one-half of the common shares
Of the Manhattan Piggly Wiggly FOR
services and for turning over the fran
chise and territorial rights, which had
been purchased by Mr.. Elliott from an
individual who bought them from the
parent company. AS result of con-
tract drawn. the Manhattan Piggly
Wfggiy Corporation paid u per cent
OF ats gross sales, equally divided, to
the Piggy Wiggly Corporation. OF Of
Memphis, and the Piggly Wiggly Stores,
Inc. The shares of the latter company.
which are listed on the New York Stock
Exchane, yesterday declined "a Of a
point at the opening, being quoted at
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