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Show AGENT TELLS ABOUT RADIO STOCKDEALS Federal Operative Testifies In Baldwin Case Hearing at Helena SAYS FALSE DATA CIVEN Plant Foreman Says Portable Sets Never Made batted Pfmt HELENA. Mont. Feb. S Agents ot th Baldwin Radio corporation old 1910,000 worth of snare In th company, making glittering promise ot profit, when th company actually wa losing money, J. R. Sloan, apaeial agent of the U. 8. department of ius-Uce, ius-Uce, testified today. Sloan' taatlmony wa th flrnt to be taken aa the aecond day'f trial of 17 defendant, charged with tuinf th mail to defraud In selling th Jtock, opened. Th entire (roup, headed by Nathaniel Na-thaniel Baldwin, president of the corporation, cor-poration, were Indicted on 11 count in connection with th tock sale. Sloan (aid 275,000 aharea had been sold in atate extending from Pennsylvania Penn-sylvania to California. Thirty -seven per cent of thta total waa old In MonUna for t4M,ioa, at $1 to S4.80 per ahara. The net loaa of th Baldwin company com-pany In 12 wa $117,401, and $23,-414 $23,-414 in 1830, Sloan declared. It waa in thea year the stock-eeUing campaign cam-paign wa at It height A aurphi sis waa claimed of II,-701,000, II,-701,000, while th company book showed deficit of $flllO, th agent aid. No caah dividend are recorded on the company book, th federal agent aid, but a stork dividend of $115,000 wa paid In 11)23, he teaUfied. , discrepancy seen A discrepancy exulted In at lament la-ment Uaued a tock holder regarding the value of Baldwin patent, Sloaa aid. The book valued thea patent lOeaUnee en Pace Teal AGEIIT TELLS ABOUT RADIO STOCK DEALS (Oeatlased tress rase Oasl at J3.0O0, while public ststetnents placed their value at $1,000,000, he is id. Albert Oeguthorp. Salt Lake City, foreman of the Baldwin plant there, testified no radio seta were completed com-pleted there, but parts were shipped to Los Angeles for assembly. A portable port-able rsdio set advertised by the concern con-cern never was made, be said. A. W. Emldorf, Los Angeles, a "contact" "con-tact" man for Gilfillsn Brothers Radio Ra-dio company, said the Los Angelas plant of his company had assembled 3M2 Baldwin sets, and tha Wauke-gan, Wauke-gan, 111., plant. SOW. N. R. Monroe, Newark. M. J., testified testi-fied be was the owner of a plant In Bloomsburg, Pa., which ha turned over to the Symphonic Radio corporation cor-poration for stock. No rsdio sets ever were made there, he said. The Symphonic Sym-phonic Radio company assertedly was a stock aubsldisry ot the Baldwin Bald-win company. Ha testified a Bsldwin sign shown on the building in advertisements ad-vertisements never existed. George Robinson, Portland, Ore., and R. J. Goodwin, Salem, Ore., told of efforts of the corporation to obtain ob-tain stock selling permits in thst state. Goodwin was state corporation commissioner of Oregon whan the applications ap-plications were made. BALDWIN LISTENS ' Nsthsnlel Baldwin, "inventive genius," whose discoveries led to formation for-mation of tha company, listened closely as each witness told his or her story. Dressed plainly, wearing a blue denim shirt, his thick auburn hair unkempt, Baldwin wsa almost indistinguishable indis-tinguishable among tha It other defendants de-fendants and IS attorneys seated before be-fore Judge Bourquin, But his talents and -his achieve- menu played a leading part in the proceedings. "The one-room shack in East Mill Creek" in the Wasatch mountains : nesr Sslt Lake City, where Baldwin was ssid to nave perfected his. Inventions, In-ventions, his method of work, his hsbits sll csma In for mention. An advertisement purporting to tell how he conceived his inventions, through which the company hoped to realize millions, wss promiently displeyed. It related how Baldwin, attending services in the Mormon tabernscle at Salt Lake City, wss impressed by the need ot sound amplification am-plification even in that structure, fsmed for its acoustics. From thst dsy he worked until he perfected bis devices, the advertisement stated. I the frst day of the trial three Great Falls, Mont, witnesses played a leading part, Victor Ario, for U yeara a resident of that city, testified testi-fied he Invested and lost 113,000, his Ufa ssvings. In the company. Ario ssid he wss offered a directorship in the concern when he visited Sslt Lake headquarters. His letter accepting accept-ing the offer was used to promote sales in Montana, he said, but later he was denied the position. TELLS OF LOSS J. W. Crowder, a court reporter In ureal raits tor sa years, ioio ox losing los-ing 11S00 in the company. Joseph Green, one ot tha defendants, told him Baldwin hsd sold 400.000 shsres in the corporation to business associates asso-ciates for 11.000.000, Crowder testified. testi-fied. Dividends of 11 to 14 per cent were promised, he clsimed, Loy J. Molumby, Greet Falls attorney, at-torney, told of Inspecting the corporation corpora-tion orgsnixation for the Montana state auditor at the time, George Porter. Molumby said he conferred with Daniel Alexander, who died of a gunshot wound in Butte, Mont, the night be and IT others were Indicted in the esse, on the corporation plsn. Alexsnder, prominent Salt Lake City attorney, assured him a contract for the company's entire radio production produc-tion for five years had been signed, Molumby said. Advertising of the compsny was ssid to hsve included pictures of plants the company actually did not own, located in Los Angeles; Wsuke-gsn. Wsuke-gsn. 111.; Bloomsburg, Pa., and Salt Lake City. The pictures allegedly were used to prqmote stock sales In those states. |
