Evening star., 1923-05-02
P|CCLY PRESIDENT
/ PLEADS FOR HELP
Clarence Saunders Says He
Faces Ruin if Cornered
q
Stock Is Not Sold.
IT. lIte Associated Press.


MEMPHIS, Tenn. May lila renee
Saunders of Memphis. Tenn, presi-
Gent Of the risglv Wiggly Stores,
1pc, and central tiguure i'll the SEN
s:;itional encounter with Wall street
., few weeks ago. will say in adver-
fiaemont.- today that unless Il am
;i !e l." sell the stock which / have
cn hand as Il consequence OF the job
took for myself. there is only one
utromv. and that is my personal
fortune W i'll be wiped out
Mr.. saunders will add, however
rnat if he loses his personal fortune
"~pt insofar as my being head Of the
company is concerned"
MEMPHIS, Tenn, May 2-The ad-
N"ftisement. which takes the form of
L statement from Mr. Saunders. con-
Guides by declaring in large black
fa.e type:
Mil Press Exchange suit.
THE New York Stock Exchange
law suit will hr undertaken and
acrtled later"
II" refers t. tht suit Ii, announced
i'tcnti"n /" enter after the New York
Stock Exchange board Of governors
granted Tive days extension Of time
f"r delivery nr stock by shorts"
'anGhr IL the maueuNrr which re-
:'ult~d IN piggl! Wiggiy stock being
.'i"l tt ir"m the exchange big
hoard
'rh" advertisement is under the
r%DtiOH:
Wall slre,t is right when it says
II
ctasS A stock | will go broke"
Calls Company Sound.
Atr. Saunders declares that the
Company X on Il tirmer basis than at
i.fy time III its history. and lit is only
because OF certain bank opposition
ind other whispered propa ganda that
- necessary to spend 50 much ef-
f"'t I" sell this stock. as otherwise
i would have been taken on the first
Offering
.Nciunteers iii this work" are
called for by the advertisement.
v hich explains by saying:
= don't ask for charity and don't
rrIuest any flowers for my financial
1unt raj. but / do ask this. and that
y for everybody in Memphis to rec
rGHize and know that this is a seri-
Gus statement made for the purpose
Of At guainting those who wish to as
Sist i'll this matter.
THAT they may work with ME and
nth"r friends and believers in my
business in = Memphis campaign to
faN' every man and woman who pos
Sthty can III this city become one of
tit" pirtncra in the Piggly Wiggly
h1>lnt - because il iS Il good invest
rant Hret, and, second, because it is
III" ri- thing I" do for the good
oi Meini'hiS and for the public gem
er !II.
Denies Making Profits.
TIE statement sets forth the terms Of
u" stock Offering, stresSing the num-
her Of stores and the volume OF buSi-
1.''>~. After SIarting with the declara-
! =" th..t Il aid not make Il single
nieh-l on! uf all the trading on the
stock exchange, other striking asser-
tiorS are:
4 c"uli hay" played the gamblers
-'a'Ht' with absolute certainty of win
rii.@. as | was the only one at all
tiurS VINO actually had knowledge in
advance Of jus' what the mark t
nri". was coinG I" be-whether up or
down"
Several millions "i dollars have
bon made collectively by those. whose
fnI"rcSt> J ri>krd every thing to pro-
.f"''. still am not sorry that | did
neither have | amy bitterness because
man! who SAW Il chance 10 make
nancy for them.,rlve at my expense
di,; not hesitate t. do it,
Don't -tt confused. Don't think
t."HuSe th- writer may lose his
f",i inv that this Will affect the COM
l'tuA. except insofar as my being the
it....G ~ The company"
'''Th- particular reason for this
statement. Which is unusual. is to an
etrr the remark 50 often made:
Why. il Saunders made 50 many
1ai!li"ns. docs he want to sell Piggly
" i-.Gly stock -"