The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1928-11-14
Never Recognize Defeat; Says
Clarence Saunders in Comeback
Never Let the World Keep
You Down. Is Magnate's
Success Recipe
Profits Turned Critics Into
Boosters He Tells in Story
Of Regaining Prestige

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let the world keep you down. There
3 success for every man who refuses
10 recognise defeat
With these words Clarence Saun-
eers, chain store magnate, sums up
bis experience in the last few years,
euring which time he made q for
pune, lost it and then staged q come
back to make second fortune more
bpectacularly than he made the first.
just q minute, though, Saun-
Fers doesn't like that word "come-
back"
He admits that he lost 4 for
tune, went through bankruptcy
Ind now has q business that he
couldn't sell for 100000 cash -
but he doesn't like the comeback"
part.
Il Was Never Down
1T is true, I lost money" he says,
but the money wasn't me. I was
bever down. / didn't feel detached
from the proper value Of things"
The story Of Saunders rise, fall
Ind rise again is one Of the most
spectacular in American financial
history, full as that history is Of
precisely that sort Of thing.
Five years ago Saunders bucked
Wall Street in the famous Piggy
Wiggly corner. Today he could sell
bis holdings in the Clarence Saun-
Hers corporation for much more than
be lost in that fight.
A financial deal which he made
bn recent trip to the east has
placed him at the head Of q new
company with . combined wealth Of
Zoo, 000, 600 to back him in q new
hational chain Of grocery stores and
meat markets.
A new company has been formed
10 take over the small chain al
ready established by Saunders. It
is backed by financial interests in
Chicago, New York, Boston and De-
troit. Already it has been an
bounced that the Clarence Saunders
Stores, Inc, will start in with q
nucleus Of 81 stores in Is cities, ex-
banding in six months to nation
wide chain Of $50 stores. And this
will be but the first unit.
Back Of this organization will be
The Clarence Saunders corporation,
} holding company getting its rev.
enue from the stock it holds in the
Clarence Saunders Stores, Inc, and
from the royalties it collects for the
use Of its patented fixtures. Saun-
Hers is to be president of this new
company.
Rir Men Rack Him
An imposing list of big names"
IN the business world is presented
rs backing Saunders. Among them
Pre- Nicholas Brady, copper king;
Fergus Reed, capitalist; w. NJ. Ber-
ties, investment broker; Joseph p.
Day, New York real estate opera
tor, and Wendell Anderson Of De-
troit. All told some 200 millionaires
bre behind Saunders.
Indeed, banking interests in the
north and east that battled Saunders
bitterly in 1924 are now giving him
full support.
''The dollar mark Of profit has q
very swaying effect in changing a
critic into booster" says Saunders
nrily.
In 1924 Saunders tried to corner
the Piggy Wiggly stock in Wall
street. He got the corner all right,
end for moment it looked as if he
would put the screws on the Wall
street operators in unheard-of fash
lon; but suspension Of rules by the
Stock Exchange resulted in break
ing the corner-and Saunders.
He resigned from the presidency
bf Piggy Wiggly, which he founded.
10 wipe out his losses he had to
give up the pink palace" the
Palatial dream home he was build
Ing on the outskirts of Memphis.
For nearly . year the mansion,
three-quarters completed, remained
he'd up in the courts; then it was
hold under the hammer.
Then Saunders got busy. He es-
tablished a new string Of stores.
They prospered; and, as he said,
critics began to turn to friends
when they saw how profitable the
venture was becoming. Now Saun-
aers is reaching the crest again.
City Owns Palace
The pink palace" today belongs
TO the city Of Memphis as a museum
bf natural arts and history. The
city also owns 80 acres Of ground
surrounding it ~ Z park, including
10-acre lake which Saunders had
constructed.
Saunders will not say . great
beal about his newest victory.
II seldom give advice" he says.
n never take advice and while the
bther fellow may listen to it, he
doesn't take it either. Ny ambition
is to have the best and the most
stores in the world. I have found
It the best policy never to ask IA
vors, to battle against all obstacles
regardless Of how high they may
keem, and to live within my means"
This last item-living within his
kneans-will not be quite as difficult
from now on - 1t was in the dark
days following his crash Of 1924.