Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-08-16
HIS FORTUNE GONE.
SAUNDERS ASSERTS
HE'LL COME BACK
BY JAMES MAILMAN
Especial Wire Service to The Journal.)
Copyright 1923

kNupNIiEuts Id-C
MEMPHIS, Tenn, Aug. 13.-Clar.
ence Saunders, the man who set out
!. to beat Wall street" only a few
short months ago, when he had mil
lions in his possession, acknowledged
today that he was beaten and broke.
but not discouraged.
II have my hands and my head
and l will come back" he declared
smilipgly, as he stroked his bushy
squirrel gray hair.
Saunders stands today where he
stood fifteen years ago before he
achieved his spectacular success as
founder and head of the PIGGY
W!ggly stores. He is confronted
with the loss of his entire fortune.
his holdings in the Piggy Wiggly
Stores, Incorporated. and the Pigg
ly Wiggly corporation. which is soon
to be delivered into the hands of
4his creditors. To-day he rendered his
resignation as director in the
stores. He already had resigned as
president.
Il have no fears for the future, ="
continued Mr.. Saunders. at will
take care of itself. l have no re-
grets. DO you see this one hundred
dollar bill? That will go, too. l do
mot intend to withhold one cent, my
home or my automobiles. I can start
at the bottom again. l am young
and money, as such, does not inter.
est me.
Eyes, Wall street has wrealled its
vengeance on me, but 1 an not
through with it. 1t will hear further
from me. L have lost my money
and my business as a direct result
of the treachery practiced upon me
by the New York Stock exchange,
but / am not sorry for the expert
.ence, because knowledge is what l
am always seeking, and this L shall
use in such a manner as will al
low me to build another fortune and
another business which l shall I'M
mediately proceed to do"
Mr.. Saunders did not indicate the
nature of the business in WHICH he
proposed to embark. None of the
Piggy Wiggly mans Old-time buoy
ancy of spirit was gone. His spright-
illness was unaffected even when he
talked of the loss of his $S55,000
"pinll palace" which never has been
completed, with ITS lakes, its golf
course, it's swimming pools and its
long, winding Walks
lie IS not saddened by his reverses
because he believes he can "come
back"
NASHVILLE MAN HEADS
PIGGLY WIGGLY STORES
MEMPHIS. Tenn, Aug. Id. c.
Bradford, of NahsvilIe, Tenn, was
elected president of Piggy Wiggly
Stores, Inc, TO succeed Clarence
Saunders, Memphis, whose resigna-
ton as president had been accepted
by the board of directors earlier in
the day.
A new executive committee COM
& posed of Mr.. Bradford; w. c. Car
nette. of St. Louis; A. w. Beardon,
New Orleans and J. A. Maury, Mem
phis was elected.
A statement relative to new poll
Ncies of Piggy Wiggly Stores, Inc,
will be issued later in the day, 1t
was announced.
Mr.. Bradford was selected as the
anew directing head of the company
-at a meeting of the directorate OF
the stores organization held at
downtown hotel after a brief SEES
sion at Piggly-Wiggly headquarters
at which the designations of Mr..
Saunders and Fletcher Scott, as.
sistant to Mr.. Saunders, were read
and accepted.
The meeting at the hotel was in
session less than an hour when adj
joIrnment was taken for lunch and
announcement of the new officers
made.
All of the meetings were eXecu-
tive.
Mr.. Saunders, his control of stores
organization, both as executive head
and director, relinquished, remained
in his private office In another part
of the same floor while the meet
ing at Piggly-Wiggly headquarters
4, was in progress.
Il have turned over everything
/ own, my home-everythirG,
Saunders told newspapermen. They
have everything 1 built-everything
eyeent myself >