The Birmingham age-herald., 1924-02-25
PIGGLY-WIGGLY'
 HEAD CHEERFUL IN HIS TROUBLES
Clarence Saunders Pre- diets He Will Recover
 From Bankruptcy

MEMPHIS, Tenn, Feb. 4.-"Here goes three million dollars" said Clar- ence Saunders as he signed volun- tary petition in bankruptcy which was filed late Saturday and he added "Iu have it all back again in a year or two"
 Whether Saunders acted for himself or for the Piggly Wiggly Stores, Inc, of which he was president. when he conducted his famous ''corner' in Pig gly Wiggly stock on the New York stock exchange early in 1923 will be determined in court decisions and will have vital bearing on the settle ment to Saunders creditors. In the $3,244,O7O total assets listed as against $1,976,010 liabilities is an "unliquidated claim" for $1 ,SS0, ,56O, which represents the amount for which Saunders is su- ing the new management of Piggly Wiggly. Staores, Inc. Of this amount 1,4OS,000 represents debts largely stock purchases for which Saunders claims in his suit he acted as agent of the Piggly Wiggly Stores, Inc.
 Saunders turns over as assets all of "his worldly goods as he termed it.
 Two Homes Listed This includes his two homes in Mem A phis. One, as yet uncmopleted, is q .s pink marble, suburban residence, which was to cost upwards of $1O00,000. His household goods, automobiles, life in- l- surance policies, toaling S550, ,000, G and number of notes signed by friends and payable to Clarence Saunders, the value of which MT. Saunders on places at 5000, are included in the assets.
 Of the liabilities there is q total of $652,73S secured by 24,531 shares of class A stock of Piggly Wiggly Stores, : Inc. Out of town creditors listed in this classification include Hudson Trust company of New York, $30,0O0; First National bank of Florence, Ala, $20,- GOO; Barnett National bank of Jack sonville, Fla, $20,250; American Trust company of Nashville, Tenn, $35 900 l; Hamilton National bank of Chat tanooga, Tenn. $35,00O; Interstate .,. Trust and Banking company of New Orleans, $91,S75; I. B. Tigrett, Jack son, Tenn, $36,3 ,3SS, mad q number of others to whom smaller amounts are due.
 One Item Of $1,4Os, 1889 The obligation listed in the liabilities which Saunders claims ultimately" l.. must be paid by Piggly Wiggly Stores, AAC.S tOtdAo pls1OO3oOO. HcSC lHGluuc contracts for the famous ''pool' which backed Saunders in his Wall Street drive, as we'll as money secured on con- tracts to deliver class A stock of Piggly Wiggly Stores, Inc. Creditors listed on contracts to purchase class A stock' include George G. Wearen of St Louis, 4OOO, and F. H. Stanwood of Chi cago, $3s,OOO.
 Contracts for commission and in terest on the 'pool' agreements include the following cerditors, among others i: Interstate Trust and Banking compa- ny of New Orleans, $S4, 4,750; American Trust company of Nashville, $62,920 i; Liberty Central Trust company of St Louis, $116,S0O0.
 Under the item headed inducements of Piggly Wiggly investment company on stock purchase notes, against which class A stock is to be delivered" these creditors are listed; American Trust company of Nashville, $10,000 and h. terstate Trust and Banking company of New Orleans, S20O,0O0
 Creditors Aided Him In Drive
 The creditors, who are secured by Piggly Wiggly stock include individuals in many cities who came to MT. Saun- ders' aid during the furry in Piggly Niggly on Wall Street.
 caunuerS, Wno begun as grocery clerk and formed the "self serve" chain of grocery stores, announced that he would launch, at once similar system, starting with a store ill Memphis. Pub lie interest was focused on his busi- ness career during his battle with the ''shorts" on the New York stock ex- change. Still in the prime of life, he smilingly asserted tonight, T am bank rupt as to money and other worldly goods, but I shall start out on a new "a reer immediafelv