The Birmingham age-herald., 1924-08-30
Forum, Of The People
Mir. Reid Makes a Statement
Editor of The Age-Herald:

To the Editor of The Age-Herald:
 l would appreciate the use of your columns in a somewhat different usage from recent appearances therein to that the position l occupy relative to existing circumstances which have made for me considerable unde- sirable publicity. In the first place, l en- joyed during my business career from the summer of 1917 when I entered business OH my own account, after a service of five years time with R. A. Brown & Co.,, until about the first of January, 1021 splendid record bank credit of over $20000 and general all-round desirable mercantile credit rating. During the close of the year 1920 my bookkeeper created an overdraft of some thing like $16,000 on two separate occasions, discounting obligations that could have been carried indefinitely. Through this unfortu- nate affair I was forced into bankruptcy, gave up my every possession and that of my wife to my creditors, and asked for time to pay my just debts. On February 1, 1921, after short absence from Birmingham. I re-entered business with no capital, only be- lief in myself and a determination to come back I enjoyed the most prosperous condi- tion for the succeeding three months, and perfected satisfactory settlement with my creditors, made new my past obligations, that were eliminated through bankruptcy, and took a new lease on life, and regained pos session of my property.
 I very foolishly made every creditor note for my past obligations, thinking that time would be allowed for a readjustment of my affairs, but, alas! time was short, and l found myself in two years time unable to realize on my property used by creditors, many carrying their troubles to the criminal court as a process of collection. With all of my litigimate source of capital gone, l was forced to go to the loan sharks and squeez- CTS, where in the last three years time have paid enough usury with my operations to pay my creditors in full and have ample left for an income But beggars cannot be choos- CTS, and although during this period of time I have seen prosperous times, l have now awakened after having taken care of many thousands of dollars to friends whom l thought were friends, to find myself harS rassed, embarrassed, double-crossed, bounded and with revelation that outside of ones immediate family and few friends, that the almighty dollar rules the day. Many men who have had misfortunes have laid down the shin, but being a young man and having enjoyed an honorable name l could not listen to the ones who said they put you there let lem have it. have been the victim of too much energy combined with a surplus of en- thusiasm, with motto that determination was and is most. of the battle, and with the will to try there was way.
 Carnegie said That it is better to try and fail than not to try" have not as yet been able to appreciate the truth of the asser- tion, but am willing to await better day. l am perfectly willing for my acts to be scru- tinized by any jury of twelve men, where facts and not hearsay go, and l sincerely regret that most people adjudicate one guilty on mere suspicion. The statement that pleaded guilty to federal indictment is errO- neous JOHN B. REID.
 Rirmingham. Ala. August %. 1924.