Greensboro, Jan. 26—Forty-eight officials and stocks salesmen of the Bailey Brothers defunct Winston-Salem tobacco firm went on trial here today charged with using the mails to defraud.
The indictment charges that they knew the firm was insolvent when the stock selling started, paid dividends when the firm was not making any money, made false statements regarding the fund to guarantee dividends, and sent unfaithful advertising thru the mails.
Judge Webb overruled three motions to quash indictments against the 43 defendants who appeared. One defendant is in the State Hospital and four failed to answer present.
From the front page of The Daily Advance, Elizabeth City, N.C., January 26, 1925
newspapers.digitalnc.org/lccn/sn92074042/1925-01-26/ed-1/seq-1/#words=January+26%2C+1925
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