TOWNSEND PLAN.
. DISCLOSURES' AT INQUIRY. WASHINGTON. April 22. Mr Robert Clements, co-founder of the Townsend movement, testifying before the House committee inquiring into the plan, 6aid that the owners of Old Age Revolving Pensions, Ltd., are directors who can dissolve the corporation a.t 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 more than a year totalling 3250 dollars a share. He admitted, having sold his shares in that property to Dr. Townsend, and that he was paid 50,000 dollars which Dr. Townsend had got as dividends. Neither had paid a cent for their stock.
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Manawatu Standard, Volume LVI, Issue 123, 24 April 1936, Page 9
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110TOWNSEND PLAN. Manawatu Standard, Volume LVI, Issue 123, 24 April 1936, Page 9
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