The Birmingham age-herald., 1923-03-27
JUST BE
 S0 P|GGLy W|GCLY LEADER DECLARES
Clarence Saunders Will Bring Suit Against New York
 Stock Exchange

MEMPHIS, Tenn, March 26.--tB Associated Press.)-Clarence Saun- ders tonight announced that he will enter suit "agalnst each of the brokers who was in defauft' and fin addition thereto I will sue the New York Stock exchange for conspir- acy." us result of failure to deliver Class A common stock of the Plggly Wiggiy Stores, Inc, within the GUS tomary o4 hours after trades were made during the stormy trading In Piggly Wiggly on the stock ex- change last Tuesday.
 MT. Saunders announced this as his next move In the controversy over the Piggly Wiggly trading uproar Tuesday and resulted in the elimination of that stock from the "big board" and a stock exchange order to extend until today the time for delivery of stock sold short on the. exchange March 20.
 "I took delivery of the stock to- day which was due on my call of the :0th and which should have been de- livered the next day, but In taking this delivery l did so with the full understanding that l would hold re- sponsible and liable not only the
 
 the New York Stock exchange MT. Saunders said In a formal statement issued tonight. and ] shall enter suit against each of the brokers who was in default on his delivery and also l. shall sue the New York Stock exchange for the purpose of collect inG the money due me, and for the further purpose of the court record being made public property for the American public to see as to its un- ethical methods of Wall Street and the New York Stock exchange as practiced by them.
 "One of the allegations of my suit will be that l was not delivered the stock which was due me, as I claim that no stock against my purchases prior to that time, and in addition thereto I will sue the New York Stock exchange for conspiracy"
 Saunders read reports from his ferred with his associates until late in the evening, and when he left his office. gave as parting shot, that the fight has just begun"
 o o Q
 No Compromise, He Says.
 And I don't intend to compromise this matter by settling secretly be- hind closed doors merely for a money consideration, as the New York Stock exchange no doubt thinks l would love to do. as money is the second consideration in this fight of rhine,' which. he said. had come to "expos- ing and putting to public view the inside doings" of what he termed "the most notorious and outrageous ly domineering crowd" that lever overloaded country of either slaves or free men"
 Mir. Saunders, as in previous state ments, scored Wall Street and the stock exchange severely.
 Let no one fool himself that need money worse than Wall Street. | for with them money is all, and with | me and others outside Wall Street | we have honor and honesty as we'll" was another quip in tonight's state ment.
 Mir. Saunders did not indicate when 1 the legal action which he forecast | would be filed. but made 1t plain that all the stock delivered today | would be closely checked as to when it was acquired by the brokers mak- ing the deliveries.
 liars PeddIer.
 T don't object to the stock peddler buying or selling as peddler" Mir. | Saunders said in a statement issued earlier in the day. but do object to taking delivery of such stock against my contract with the exchange mem- Der, as l have no contract with him | on the basis of being a peddler."
 "'Stop, look and listen'-then fight, | show no quarter, ask none. and may the black flag be the sign between | usf until the American flag reigns | supreme. with a law full of teeth. | over Wall Street and it's mamma, the | New York Stock exchange" was one of the concluding declarations of to- nights announcement of MT. Saun- ders avownG his intention to take | the fight into the courts.
 Five southern cities-Mempl pllis, | Nashville. St. Louis, New Orleans and | Chattanooga-wer contributors to the $10.000. .00o Piggly Wigsly pool | it was announced today. Memphis 1 led the list with s55O0.000: New Or | leans was next with $1.700.o00: Nash vile was listed at $1.600. .000; St. | Louis. sl.900,00D, and Chattanooga, | $140.000
 LA GARZA NOMINATED