By 1932 the Corporation had become heavily involved with with banks and trade creditors and was unable to meet its obligations promptly, this brought about a strained condition between the banks and W.M. Hazen who was then President of the Corporation. This condition grew worse and it was decided by the banks that there should be a change in management.
I had taken no part in the management and finances until this time but, by mutual consent of the creditors and W.M. Hazen, I was chosen. An investigation disclosed that the Corporation had never had an audit, and that its records were in-adequate. An audit was made and more adequate records set up in November of 1932.
I had taken no part in the management and finances until this time but, by mutual consent of the creditors and W.M. Hazen, I was chosen. An investigation disclosed that the Corporation had never had an audit, and that its records were in-adequate. An audit was made and more adequate records set up in November of 1932.
