Ferd Tillman Yard-o-meter
ASKS RECEIVERSHIP SUIT AGAINST ST. LOUIS FIRM JEFFERSON CITY, Deo. 14.- (Special.) State Finance Commissioner Frank C. Millspaugh has requested Attorney General Barrett to institute proceedings for a receivership for the Yard-O-Meter Corporation of St. Louis. Millspaugh charges tha tis has violated the terms of the permit to sell its stock in this state under a license issued under the blue sky law. William K. Wilkinson of St. Louis, a stockholder in the corporation, has filed the principal affidavit on which Millspaugh's application is based. The company was incorporated in 19 20, and in March of that year was licensed by the blue sky department to sell $75,000 of its capital stock. In 1921 it was authorized to sell an additional $50,000. Its total capital stock as shown by the incorporation papers is $600,000. Wilkinson alleges in his affidavit that the company has disposed of $475,000 of its stock and has paid out $25,000 of stock for promotion work. He asserts also that it violated Its escrow agreement in turning over to Ferdinand J. Tillman stock of a value of $200,000 in the face of an agreement this was not to be done until it had been demonstrated that patents turned over to the company by Tillman were practical and the company paid an annual dividend of 6 per cent out of its net profits. A large amount of the stock is said to have been sold in St. Louis. The company manufactures a device for measuring cloth in large quantities.