Dickinson Trust Company (Richmond, IN)

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INDIANA BANK CLOSES CINTERNATIONAL NEWS SERVICE] RICHMOND, IND., March 16-The Dickinson Trust Company, ordered closed by Charles Camp, state bank commissioner, following a run of large proportions late yesterday did not open its doors today. Camp declared loss of approimately $660,000 through securiues of questionable character "unloaded" on the bank by Edgar Hiatt. president of the institution, was responsible for the move. That there is no probability of depositors losing money however, was indicated by bank directors today when they forecast is reorganization and re-opening of the bank "within a few days." Stock holders and directors, it was indicated will make good the paper regarded as unsecured. Hiatt, meanwhile, has turned over to the bank all his personal property and real estate, including his home, to cover the losses alleged to have been brought about by his financial operations.

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anapolis today, said he believed their value was "very problematical." The directors have taken no action looking toward the election of a new president or the re-organization of the bank. Reopen in 10 Days. are the Indications, will re-opened however, 10 days that bank be in and will be doing business as usual. Depositors were warned against accepting offers for less than the full value of their deposits. A small crowd gathered in front of the bank building early today, but it gradually dispersed. The sentiment seemed prevalent that the interest of the depositors was being carefully safeguarded and that they would not lose their money. Reports from other banks were that business today was normal. A large number of residents of the rural districts were in the city today to obtain information regarding the closing of the institution. Explains Investments The following statement by Commissioner Camp explains what became of the $660,000, which, he says, Mr. Hiatt invested in questionable securities: "The F. Hollingsworth property, consisting of 14,750 acres of land at other of Samerset, pieces La., property. together Hiatt with traded four for this land and resold the same to F. Hollingsworth of Grand Rapids, Mich, for which he had taken in payment and carried on the books of the is Dickinson Trust company what known as the Magnolia plantation stock, consisting of four certificates of 200-acre units each, carried at $50,000. "In addition thereto he has taken the notes of the Magnolia plantation company, which are personally signed by Dr. F. Hollingsworth, amounting to $225,500, on which is a prior lien of h $345,000. r "In connection with these trades he has taken the notes of A. A. Denslow a and ex-Governor Earl Brewer of Misd sissippi for $10,000 each, which are e charged on the books of the bank at k $14,453.52. The bank held the mortnote of I. M. Allen for $18,900, which a on in gage was mortgage Mississippi, 168 acres S Bolivar county, which was indorsed by McLen is to Clevepaper more, who reported Carrie live in land, Miss. r Bought Chicago Property e "Mr. Hiatt had traded $48,000 worth 1. e of mortgage notes for what is known la as the Sheridan road property of Chicago, on which there is a prior lien of $150,000. the fifty-six apartments the S bank notes of e bury On "For for has $100,000. the John the apartments W. KingsS there is a prior lien of $122,500. On what is known as the Tudor building d of Chicago, the the W. Peters, to 's note property of L. amounting bank has morte, $70,000, on which there is a prior gage of $70,000. e "On what is described as the Cook r of 1,760 acres near Miss., 'other n Greenville, property of real land estate' 5 was charged with $135,000, including e the other real estate account in the rDickinson Trust company, which was oformerly carried at $50,000 to $185,000. e On what is known as the Cook propm erty there is a prior lien of $100,000. "In the combined undesirable assets t turned into the accounts of the Dickat inson Trust company from Sept. 1. be 1921, up to the sixth day of March. te 1922, there were mortgage loans and or property being covered by prior liens 3. and amounting to $787,500." S. INDIANAPOLIS, March 16.-A run by on the of Richmond, the company, depositors Dickinson that of led $200,000 to Trust withdrawal yesterday caused the state banking department to the institution on the ground that of its were S sirable, close $660,000 according to assets the statement W. unde made here today by Charles Camp state bank commissioner, on his re nturn from Richmond. c. He had hoped to have the "undesir ctable assets" replaced, without closing a the company, but the depositors' run a., caused a change of plan, he said. les Stockholders of the company, the he commissioner added, will be required erat once to replace the assets which il" were ordered removed, but the exac go amount they will be required to pro bvide is uncertain. Property surrendered by Edgar F

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CLOSES INDIANA BANK FOLLOWING $660,000 FRAUD Official Charges Head of Richmond Institution "Unloaded" Stocks. MOB CLAMORS AT DOORS Women Block Traffic in Street -Hold Edgar F. Hiatt Responsible. RICHMOND Ind., March 15. The Wickinson Trust company of this city closed its doors this after noon on the order of Charles W. Camp, state bank commissioner. A statement issued by the bank commissioner charged that the president of the bank. Edgar F. Hiatt. within the last four or five months had without the knowledge of the directors unloaded upon the company undesirable securities amount ing to approximately $660,000. Commissioner Issues Statement. Late this afternoon Commissioner Camp issued the following statement: "To the public: "A recent examination of the Dickinson Trust company by State Bank Examiner Lowell W. Cox disclosed the fact that within the last four or five months Pres't Edgar F. Hiatt had. without the knowledge of any of the directors or other officers, unloaded on the company undesirable securities amounting to approximately $660,000. To Probe Bank's Condition. 'The interests of the depositors demand that the bank be closed and that it be kept closed until said assets are completely removed and a new president shal be installed. It is believed that the board of direc. tors, who are men of wealth and high standing, can arrange with the other stockholders to take out the bad assets with a view of reopenin gthe bank in a few days. "In any event. the depositors have no cause for alarm, as their interests are believed to be fully protected and no loss is likely to result to them. "Charles W. Camp, bank commissioner." Mr. Hiatt has declined to make any public statement regarding the affairs and closing of the bank. Within a few minutes after a report had spread during the day that the bank was in financial difficulties the institution was besieged with an eager pushing throng that gained in numbers every minute. So large was the crowd that police reserves had to be called out to preserve order. Women Block Traffic. By this time men and women eager to withdraw their savings had blocked street traffic and officers were kept busy opening up the street. The doors werec losed at 3 o'clock but for several hours afterwards depositors blocked the side. walks in front of the bank Even after a bulletin had been bank displayed Camp be announcing closed by Bank that Commissioner the for a few for of the would further examination books, days crowd would not disperse. Several scenes were amorg the doors clased pathetic crowd after the seen and no more money could be withdrawn. The Dickinson Trust company is the the in of 1870 outgrowth under the of name firm J. started DickDickThe inson Inson and and company, Samuel Dickinson. by Joseph original operations were confined to the purchase and sale of mortgage japer principally to English clients living in England and where the Dickinson family Ireland enjoyed a wide acquaintance.

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PRESIDENT OF BANK UNLOADS BAD PLEDGES Depositors of Dickinson Trust Company Said to Be Safe. Special to The Times. RICHMOND, Ind., March 10.-Depositors of the Dickinson Trust Company continued a run on the bank today as a result of its being closed by Charles W. Camp, State bank commissioner. The patrons were not entirely satisfied with Camp's assurance that they would not lose any money. President Edgar F. Hiatt of the company was to be removed from office because he ran $660,000 in worthless securities into the bank without the knowledge of the directors. Those backing the bank are all wealthy, Camp said, and they likely will take up, the securities in question. Depositors of the closed Dickinson Trust Company of Richmond stand no chance to lose, Charles W. Camp, State bank commissioner, said today, and the institution, one of the largest of its kind in Richmond, probably will be reoponed within two weeks. Edgar F. Hiatt, president, unknown to the directors, has unloaded $060,000 in undesirable securities on the trust company in the last six months. it was said. State examiners are working on the books of the trust company, Mr. Camp said, and he will return to Richmond after the examiners finish checking up the situation and put whatever pressure is necessary on persons owning the bank to have the bank reopened with a new president and new officers. A run on the bank was met yesterday afternoon but no announcement of the state of affairs was forthcoming at 3 o'clock, the closing hour. The failure of the Dickinson Trust Company is the fifth in Indiana since the beginning of the fiscal year, Oct. 1. 1921, Mr. Camp said. Three of the total are accounted for in the failure at Corydon of the Corydon National Bank, Trust Company and Elizabeth Bank. Dealings in questionable securities, particularly in Mississippi lands are responsible for the condition of the company, it is said. Examiners from the State banking department have been going over the records for the past two weeks, but no suspicion of the real condition of the affairs of the company exlisted in Richmond. Commissioner Camp issued the following statement: "A recent examination of the Dickinson Trust Company by State Bank Examiner Lowell W. Cox disclosed the fact that within the last four or five months, President Edward F. Hiatt had, without the knowledge of any of the directors or other officers, unloaded on the company undesirable securities amounting to approximately $660,000. "The interests of the depositors demand that the bank be closed and that it be kept closed until assets are completely removed and another president shall be installed. It is believed that the board of directors, who are men of wealth and high standing, can arrange with other stockholders to take out the bad assets with a view of reopening the bank in a few days. "In any event the depositors have no cause for alarm, as their interests are believed to be fully protected and no loss is likely to result to them."

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$660,000 ASSETS IN BANK WORTHLESS Richmond, Ind., Company Closed Following Discovery of Undesirable Paper. By the Associated Press. RICHMOND, Ind., March 6.-The opening of the Dickinson Trust Company, which was closed last night by Charles W. Camp, state bank commissioner, who held $660,000 of its assets as undesirable, was planned today by directors of the company, but they said the date was an uncertainty. Depositors, it was said, would suffer no loss. In a formal statement, Mr. Camp asserted that Edgar F. Hiatt, president of the company, had "unloaded undesirable securities" on the company without the knowledge of its directors or other officers. These assets, the commissioner said, were mortgage loans and property amounting to $661,853, which he said were covered by prior liens for $787,500. Mr. Hiatt has declined to make any statement. Run on Bank. News of the closing of the company spread rapidly last night throughout the surrounding rural districts, where the institution had many depositors. Earlier in the day the company experienced a quiet run, but before the doors were closed the crowd had become so large that policemen had to clear the street for traffic. Announcement that the state commissioner had closed the company was not made until some time after the usual closing hour, and it was expected that the run of depositors to withdraw funds would be resumed today.

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DICKINSON GU

TO OPEN AGAIN ON WEDNESDAY Re-organization Regarded as Remarkable by BankerTrust Company in Sounc Financial Condition. COX HIGHLY REGARDED The Dickinson Trust company will for business 29, after having ing, reopen March Wednesday been closed morn since March 15, on orders of Charles W. Camp, state bank commissioner following the discovery of irregular due more than $660,000, of the dent, Edgar F. ities to the totalling speculations Hiatt. rormer presiDuring the two weeks that have passed since the institution was closed, Mr. Hiatt was deposed as president, Lowell W. Cox. the state bank examiner who ferreted out all the un desirable securities, was elected president; all the unacceptable securities have been taken out of the trust com hun assets by the payment of the pany's of thousands of dollars into un dreds company by loyal stockholders; currency an precedentedly large sum the of vault of been accumula mulated in has with which to take care ing. of the all company business incident to the reopen Reorganization Remarkable lo prominent official of another opinion A has stated that in his cal bank speed with which the reorganizathe of the Dickinson Trust company and tion effected, is remarkable, has denotes been very high ability on the part the those entrusted with executing a lo of reorganization. Henry C. made Starr, chair and recently of the cal attorney of the board of directors credited man Trust company, is Dickinson the leadership that has resulted in with in such an early reopening of the stitution The selection of Mr. Cox to be presiof the reorganized trust company mas dent regarded in all quarters as a Mr is stroke of banking strategy ter was the examiner who discovered Cox the extent of Mr. Hiatt's impairment assets. the value of the company investigation is of his leadership the of the Under conducted after the closing eliminawas resulted in the company tion of the that last penny of bad investments from the assets. Long Experience Coupled with Mr. Cox's ability training as an as is his life long famexaminer banker He comes of a banking for a ily that has had prominent part of Indithe banking history years His in election as president regarded of the ana. Trust company is in Dickinson fitting promotion for his work protectas discovering a its condition stockholders and the interests of its ing as well as a deserved and recognition depositors, of his training and ability as bank executive. As a a result of the investigation all and unof the past two weeks. removed work investments have been sound assets of the trust company. from Hundreds the of thousands of dollars have by been paid in to the institution the stockholders repairing absolutely Mr. Hiatt. impairment of assets due to In Sound Position n The large amount of new capital put toin the company by stockholders. in with the severe examination of of $ gether its assets and the elimination places of all all questionable inver ments. in a n the Dickinson Trust condition company and strong o very sound of the trust company The officials repeatedly assured from have been quarters that the loyal company support n by matched d Is of many the stockholders to the the support of in will be members of the community who by other been served so many years Public d have the Dickinson Trust company remains k confidence, in other words, courageously those who have so protectand with at great personal sacrifice loss. ed the public against any is Issues Statement. d W. Camp. state bank state- com11 missioner, Charles issued the following ment, Monday 'e "To the public: e e "The Dickinson Trust company Wednes will o resume business as usual on When the day morning at 9 o'clock. nearly two weeks bank was closed, a statement to the pubry ago. I issued which said it would be kept lic in until all of the undesirable new asas closed had been taken out and a This on sets president had been installed The to greatly y, promise_has been faithfully their kept. credit. is by stockholders, realizing their moral obligations a to vol- the have responded to d depositors, assessment, far in excess result of n untary legal requirement with have been the that all questionable assets replaced with as removed and have been now be questionable assets n, cash. to Said the contributing stockholders trus and long will be liquidated through a m. R tee for their personal now clean benefit. and absoon "The safe bank and is will reopen with and an a lutely unimpaired capital $50,000. of $200,000 trust the surplus fund of Richmond will accept tatement good people of at par and will this official their loyalty to the withdrawals stockholders of r by show restricting further needs. to actual funds W. Cox. chief bank exam "Lowell been elected president. dy he e iner, was not chosen at my unanimously he Cox has own, but was suggestion. Mr nor his by the board of directors uncovering on or drafted his ability in to ed account of which, if permitted a of the continue, situation would have resulted I have in been en he calamity sooner or later. with Mr Cox e ad intimately acquainted during which time he al has examiner, for many been actively years, engaged in and banking with 22 or as a success. bank I sever my official marked relations with bank him reluctantly, and the people but con Ad gratulate in the

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HIATT'S NAME NOT MUCH IN EVIDENCE IN

HIS MANY TRANSACTIONS IN REAL ESTATE

W. H. Blodgett, staff correspondent, Mississippi, called at the Brock build- of the Indianapolis News, has made an ing, in Anderson, and informed Mrs. Investigation and E. F. Hiatt's specula- Myrtle Cloyd, agent for the Brock tions. The appended article from the Realty company, that Mr. McLemore News is one of a series: had taken over the building and that the rental was to be paid to him.

RICHMOND, Ind., April 6.-The spe- cial committee that is making an in- vestigation of the affairs of Edgar F. Hiatt, former president of the Dickin- son Trust company, which was closed a short time ago by the state banking department after it was revealed that there was a shortage of $661,000 in the bank and which has now been reopen- ed, has found that Hiatt's name did not appear in many deals in real estate the committee says he made with the money and securities belonging to the trust company. This was particularly true in his methods of handling apart- ment buildings.

Mr. Hiatt's plan, as set out to the committee, was to use the money and securities of the trust company to finance a deal for an apartment, using land dealers to carry the deal through. His plan, it is said, was to organize a stock company for the pur- chase of the particular apartment prop- erty he had in mind. This company would issue common stock to two or three persons in the company that was to take over the particular apartment building that Hiatt was after. Then a certain amount of preferred stock would be issued to the members of the company, but this stock had no voting power.

Payment of Dividends

These shares of stock would be reg- istered through the Dickinson Trust company and the stockholders would have no knowledge of the actual own- ers of the securities that were used in the deal. The investigating commit- tee asserts that not only would Hiatt take money and securities from the Dickisnon Trust company to finance the apartment deals, but he would take money from the Dickinson Trust com- pany to pay dividends on the stock that was to buy the apartment.

Besides this, it is asserted by the investigating committee that Hiatt would use the money and securities of the Dickinson Trust company to repair and maintain the property. At different times Hiatt was interested in the Glass block, at Marion; the Brock block, at Anderson; the Wayne apartments, at Richmond; the Maxim building, at Newcastle. As far as has been learned by the investigating com- mittee Hiatt at this time has no equit- ies in any of these properties from which the stockholders of the Dickin- son Trust company can get returns.

The deal by which Hiatt obtained an interest in the Brock block, at An- derson, was started by Albert Gregg, real estate operator in Richmond. Mr. Gregg said that Mr. Hiatt asked him to look over the building at Anderson, and later told him to take a deed to the building and manage the property. After six months, Gregg says, Mr. Hiatt said that the building had been turned over to the Brock Realty com- pany.

What Records Show

An examination of the records at Anderson by the investigating com- *mittee shows that Albert W. Gregg, of Richmond, bought the Brock apart- ment building from Frank Brock, of Anderson, for a sum of approximately $160,000. At the time of the sale there were two mortgages on the property, one for $40,000 held by the Provident Life and Trust company, of Philadel- phia, and the other for $33,000 held by the Citizens bank, at Anderson.

The Brock Realty company, of An- derson, was organized with a capital stock of $225,000, which capitalization was later reduced to $200,000. The stockholders and officers of the Brock Realty company were Albert W. Gregg, president; Robert J. Buck, sec- retary, and Edgar F. Hiatt. The $33,- 000 mortgage held by the Citizens' bank, at Anderson, was released in July, 1921, by an Indianapolis bank. The understanding is that Mr. Brock in disposing of the property accepted about $60,000 worth of notes for the building and that some of those notes have later proved to be of doubtful

As to Rental Money

This rental money, it was under- stood, was paid to Mr. McLemore up until February 1, of this year, and since that time the rental money has turned the building back to Mr. Hiatt account because Mr. McLemore has turned the building bac kto Mr. Hiatt. The Dickinson Trust company was the depository for the funds of the Brock Realty compnay. The Brock Oil Products company, of which Frank Brock was president, is in the hands of a receiver, the former stockholders of the concern having had the Ander- son Trust company appointed to that position.

The Wayne Apartment company of Richmond was originally formed by John W. Mueller, Turner W. Hadley and Wilfred Jessup, with a capital stock of $50,000, but a few days later the articles of incorporation were changed to provide for $100,000 of common stock and the same amount of preferred stock. Edgar F. Hiatt was a stockholder in this company and the claim of the investigation com- mittee is that the property was really bought by Hiatt with the money of the Dickinson Trust company, that the expenses were kept up by funds of the Dickinson Trust company, that div- idends on the preferred stock issued by the company were paid from funds of the Dickinson Trust company, and that the rentals of the Wayne apart- ment went to Mr. Hiatt, and that Mr. Mueller, Mr. Hadley and Mr. Jessup received no benefits from the deal and, as far as has been ascertained, received no money or securities that was the property of the Dickinson Trust company.

Hiatt in Background

The same way of obtaining control was used in getting the Maxim build- ing at Newcastle, it is said. The in- vestigating committee has not yet gone far enough into the Newcastle end of the deal to determine whether or not Hiatt still has an interest in that building or whether there is any chance for the stockholders of the Dickinson Trust company, which was reorganized and the bank reopened last week, to be reimbursed for the money the committee says Hiatt put into the building.

The committee has found few in- stances where Hiatt appeared promi- nently in these real estate deals. He did not appear to any great extent in the real estate deals of Indianapolis and for that reason he did not pay any taxes in Marion county on the property in which he was interested.

It has been reported to the investi- gation committee that on the Chicago properties Hiatt received about $92,- 000 a year in rentals, and that none of this money was turned in to the Dickinson Trust company, although the money and securities of the Dick- inson Trust company were used ac- cording to the committee's statement in financing the Chicago deals. Be- cause of these things, members of the committee believe that Hiatt still has resources that have for some rea- son not been turned over to the stock- holders of the Dickinson Trust com- pany, and a probe will be made to ascertain whether this condition real- ly exists. Friends of Mr. Hiatt say that bad trades and general conditions in the real estate market is the cause of the failure, and Mr. Hiatt to a friend said that he felt satisfied that if he had not been interferred with he would have been able to work out all of the deals and no one would have lost any- thing. It is understood that Mr. Hiatt does not deny he used the money and securities of the Dickinson Trust com- pany in financing certain of these deals, and will, it is thought, in a short time make a public statement setting forth all the details of his participation in affairs that caused the failure of the Dickinson Trust company.

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BLODGETT DECLARES HIATT INDICTMENT MADE BECAUSE HE HELD OUT PROPERTY if not in the state, the stockholder After an investigation here, followpaid $345,000 in money and made othe ing the indictment of Edgar F. Hiatt, arrangements that brought the ban former president of the Dickinson to a sound financial basis. Had thi Trust company, by the Wayne county not been done hundreds of poor per grand jury, W. H. Blodgett wrote the sons in Richmond would have lost a following article which was printed in they had, more than $500,000 in trus the Indianapolis News: funds would have been dissipated, an RICHMOND, Ind., July -Seven (Continued on Page Three) men and one woman are the only persons who know in detail the testimony on which Edgar F. Hiatt, former presJAPANESE ROYALTY ident of the Dickinson Trust company, of this city, was indicted here recently RECEIVES DENBY AND by the Wayne county grand jury. These are the six members of the grand jury, Paul A. Beckett, prosecutVISITING AMERICANS ing attorney, and Elizabeth Krueger, confidential employe of the banking (By Associated Press) company. Others know in a general way or TOKIO, July 5.-Japanese royalt in specific instances only. Thirteen today received Secretary of the Nav indictments were returned against Denby, and visiting members of th Hiatt. He is charged with overdrawAnnapolis class of 1881 and the ing his account as a director and offiwives in an audience at the Imperia cer of the concern, he is charged with perjury in making a sworn statement palace. as to the financial condition of the Charles Beech Warren, America bank while he was president of it and ambassador to Japan, presented M he has several charges of embezzleDenby, Senator O. E. Weller of Mar ment against him. land, Admiral Joseph Strauss, con Hiatt practictllyy grew up with the mander of the American Asiatic fle Dickinson Trust company and finally and 36 other men to the Regent, Crow became its president. He is charged Prince Hirohito. The Empress Sadak with using the company's funds to then received wives of members of th speculate in real estate, and because party, 30 in number who were pr of these speculations Charles W. sented by Mrs. Warren, wife of th Camp, state banking commissioner, ambassador. was compelled to order the bank's The audience was quite formal. Th suspension on March 7, 1922. The regent exchanged a few words wit stockholders came to the rescue of the Secretary Denby and Senator Well depositors and an organization, headand the Empress spoke briefly to Se ed by Henry C. Starr, put the bank retary and Mrs. Denby and to Senate back on a sounder basis than it ever Weller. The others simply approac was and with a surplus with which to ed the royal personages in the usu do business. way in accordance to their rank an To accomplish this feat, which was backed away without speaking. one of the most remarkable financial After the imperial audience me transactions in the history of this city, bers of the party were entertained

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130 to Attend Dickinson Trust Banquet Tonight

One hundred and thirty persons, most of them stockholders in the Dickinson Trust company, will be the guests of the directorate of that institution Friday night at a party at the Forest Hills Country club in celebration of the return of the company to dividend paying basis. The party is of unusual import for it signifies the repayment to shareholders of a total of $334,920. plus interest, at six percent, which is the amount advanced the bank by them five years and six months ago to replace undesirable assets discovered by state banking officials. The bank was closed March 1922, after a three day run. On March 6, Lowell W. Cox, chief examiner of the state banking department had started an examination that led to the discovery of undesirable assets to the amount of $737, 000. Further examination on the closing of the bank developed they on ceeded $800,000. Through the efforts of the directors and the state banking depart ment the undesirable assets were taken out and by utilization of the company surplus and a voluntary as sessment of $204.97 against each of 1,634 shares of stock, which raised $334,920. the bank was able to reopen after being closed two weeks. Banking circles considered this feat in itself to be considerable of an accomplishment. Faced with the repayment of this large sum over a period estimated at from 10 to 15 years, the directors of the bank at a meeting prior to the reopening voted that no dividends should be paid upon the capital stock of the company until the full amount of the assessment be repaid the contributing stockholders together with interest. Trustee Appointed For the purpose of handling the undesirable assets of the company trustee was appointed who was able convert into cash about $225,000 worth of these which were in the form of southern plantation property, apartment buildings and Indiana farms. Favors at the party will be in the form of checks which aggregate $21,192.98, representing final payment on the $334,920 voluntary contribution made by shareholders. Not only has the company been able to meet a program originally set for from 10 to 15 years in five years and six months, but at the same time it has accumulated a surplus in excess of $75,000. Mr. Cox, who is now president of the institution, in speaking of the accomplished program Friday said, "I believe this is an unusual accomplishment in the history of banking. Four times the capital stock has been taken out as loss and yet the institution fully saved. He pointed out that had been made possible only by the utmost co-operation by all those who were associated with the institution. The dinner will begin at 6:30 o'clock. addition the shareholders and bank officials, guests will also include representatives from each of the other banks of the city, together with representatives from banks in all of the middle west. Luther state banking commissioner, will also be a guest. Officers of the company are Lowell W. Cox, president: Everett A. Wiechman. vice-pres.-treasurer; Robert H. Wiechman, assistant treasurer; Elizabeth Krueger, assistant secretary. The board of directors is com-