SAID HE MADE MONEY
Co-Founder of Townsend Scheme (Received 21, 9.30 a.m.) WASHINGTON, April 23. Mr. Robert Clements, co-founder of tho Townsend movement, testifying before the House committee inquiring into the plan, said that the owners ol Old Age Revolving Pensions, Ltd., are directors who can dissolve the corporation at any time and divide the assets among themselves. He testified that the company which publishes the movement’s weekly journal paid dividends in a little mote than a year totalling 3250 dollars a share. Ho admitted having sold his .shares in that property to Dr. Townsend, and that he was paid 500,000 dollars which Dr. Townsend bad got as dividends. Neither had paid a cent, ‘or ‘•heir stock.
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Bibliographic details
Hawke's Bay Tribune, Volume XXVI, Issue 112, 24 April 1936, Page 5
Word Count
117SAID HE MADE MONEY Hawke's Bay Tribune, Volume XXVI, Issue 112, 24 April 1936, Page 5
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