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Like Lambs To Slaughter

Like Lambs To Slaughter image
Parent Issue
Day
3
Month
July
Year
1903
Copyright
Public Domain
OCR Text

LIKE LAMBS TO SLAUGHTER

Were These Good Citizens Led and Bled

PAINT COMPANY DEAL

Has Another Day in Court––Answers of Various Defendants in Suit to Enforce Judgment

Sometime ago, as stated in the Argus, Ernest Dieterie obtained a judgement in the circuit court against the Ann Arbor Paint & Enamel Company on a claim he had against that concern. The names of a number of prominent Ann Arbor business and professional men appear as stockholders as follows: Wm. G Henne, Jacob Haas, Louis J. Lisemer, Wm. Aprill, Henry Exinger, Chas. L. Miller, Albert Weimer, C. C. Andress, Otto W. Mast, Chas. Wuerth, Otto Schaible, Thomas Hopwood, Tho. J. Rice, Dr. W. F. Breakey, Wm. Lansky, Wm. Binder, Louis M. Schierle, John h. Gersting, Thomas Taylor, Wm. L. Childs, Fred J. Schleede, Geo. Spatshelf, W. C. Miggett, Louis Weinmann, John M. Naylor, Chas. Major, Michael Schaible, Geo. Schlimmer, Koch Bros., M. L. Belser, J. Fred Wuerth and John Koch. It is alleged that there are various others whose names do not appear on the list.

It appears that the company was organized to work a secret formula which Thomas J. Rice claimed to have prepared which preparation was said to produce a waterproof varnish or coating which could be used upon shoes, clothing, tents, etc., and which was an article of such general utility that it would sell largely and that the manufacture of it was therefore a great money making thing. On the strength of these and other representations various people purchased stock in the concern, to the amount of some $7,00 or more and it is said that some $5,000 is supposed to have been paid in.

But either the man Rice had not such formula as he claimed or the business was not made to go, for after creating various debts, Rice disappeared and the company was in the air with various debts against it and the money paid in on stock gone.

Ernest Dieterie sued the company on his claim and obtained a judgement. As the judgement was not paid he recently filed a petition or bill to enforce the judgement, or to compel the stockholders to pay the judgement. Up to date the following stockholders have filed individual answers to the bill: J. W. Haas, J. M. Naylor, Otto Schaible, L. C. Weinmann, F. J. Schleede, Wm. G. Henne, Chas. L. Miller, Chas. H. Major, Thomas Hopgood and Wm. F. Breakey.

The answers given are varied and various. Some state that no stock was ever issued to them. Others say in addition to the list of stockholders given above there are various others whose names have not been given. Several, in fact, most indicate that the man who promoted the scheme and who claimed to have originated the secret formula, and who is alleged to have gotten away with the "velvet," was a fraud as well as his formula. But all the reasons given in these individual answers would make a book. But it remains for the court to determine whether the stockholders will have to stand for the judgement obtained by Mr. Dieterie. There are said to be other debts likely to be handled in the same way if they are compelled to pay. In the meantime the man of the secret formula is said to have put great remoteness between Ann Arbor and himself.