New Britain herald., 1928-04-25
Alcorn, Shipps and McCook Appear Today to Tell Of
 Their Investigations
WATKINS COMPANY NOW
 IS IN RECEIVERSHIP
This Firm, With Offices in several Cities About State, Placed In Charge of Recciyer-Is One of the Houses With Which Present ln- vestigatiOn Is Concerned-AnOther Session Next Monday.

Hartford, April 25 Up}-State Bank Commissioner Lester E. Shippe testi- fled today before the extraordinary grand jury summoned at the request ot States Attorney Hugh NJ. Alcorn to investigate certain investment companies and their subsidiaries in the state. The jury met for their second session in a suite of rooms on the third floor of the county building. It again called on Mir. Al corn to lay before it some of the matters he recently investigated.
 Shippcc Questioned
 Following MT. Alcorn's presence before the jury. MT. Shippee was called in before noon and was eX- ;,mined as to his experiences. pre- sumably with the National Associat- d Investors, Inc, to whom he re- gently refused a license permitting them to do any business in the state.
 McCOOk to Testify
 Anson T. McCook, who represents directly, so stockholders of the Ma lional Associated Investors, Inc, and is also counsel for the Investors Pro- 1ective committee of the Hartford Chamber of Commerce, called at the srand jury rooms this morning and made known that he would be avail able as a witness during the day. He said he would tell the interesting
 l. ioy, S1tn Q activities of R. W. Watkins and com rany, underwriters for the issue of the National Associated Investors. Clifford B. Wilson of Bridgeport, former lieutenant governor and president of the company, has placed responsibility on Mir. Watkins for the financial difficulties of the company
 After MT. McCook had testified for some time the grand jury adjourned to next Monday morning.
 Receiver Named
 New Haven, April 25 Pl-While the grand jury ill Hartford was 1n' auiring into operations of invest ment trust companies in Connecti' cut. the announcement was made
  Burroughs had signed an ordel placing the firm of K. w. Watkins x Company, with offices in New Ha ven, Hartford, Waterbury. Norwich and New London in receivership.
 The application for involuntar! bankruptcy was signed up on thu plea of Samuel Campner. of the firm of Campner and Pouzzner, counse for the Darlington Publishing com pany, Francis J. Mulvey and Rob ert s. Carter.
 Henry Rabinowitz. New Havel lawyer, qualified as receiver by posS ing . bond of 310,000 and immedi ately took possession of the severa offices of the Watkins company.
 Anson T. McCook who represent the stockholders of the National AS sociated Investors, Inc. and who also counsel for the Investors Pro tective committee of the Hartfor Chamber of Commerce offered to tel today the Interesting results" c his investigation into the activitie of the R. w. Watkins and compan! Clifford B. Wilson, Bridgepor former lieutenant governor an president of the National Associate Investors. Inc. speaking on tn question. said that the trouble of hi concern lies in the shortage ( Roger w. Watkins who owes tn company $375,000.
 'Mr. Watkins was the fiscal ager of the company and authorized sell the stock. He maintained market. He bought the stock fe the company on the money recei, ed for the sale but owes a big ba ance that he has not settled up Wilson said.