New Piggly Head

The more recent " Piggly Wiggly " corner also had its denouement in the resignation of its President, Clarence Saunders, of Memphis. His corner in the chain grocery store Company really failed, although the price of the stock rose above $120, for in the operation Saunders bought large amounts of it himself at high prices and upon borrowed money. The Memphis bankers who financed his corner have for some months been demanding payment, and have at length compelled Saunders to turn over to them assets valued at $9,000,000 and including his securities, his country estate and his personal property.

The new President, J. C. Bradford, is a 30-year-old Nashville insurance man; the new directors mostly represent the " pool" which financed Saunders' boomerang operations in Wall Street.