"The bankrupt condition of this incipient corporation threatened it with a cessation of existence, unless somebody came to the rescue, for the 'originals,' who had received a harvest by the sale of their 'free stock,' would not now give a dollar to save the concern. They were all fixed, but what of the innocent stockholders who had purchased this stock? They should not be allowed to suffer, as they must if the company went out. So Mr. Keely came to the rescue, and consented to the following scheme, which was prepared by schemers, as the sequel proved. He had two inventions besides the motor, and they could be handled to advantage in this emergency. These Mr. Keely assigned to the company, and the stock was increased from 20,000 to 100,000 shares. The 80,000 new shares were to be divided equally: 40,000 to pay for the inventions, and 40,000 went to the company without one dollar of pay. So, Mr. Keely received no money in this transaction; and of the 40,000 shares which he should have received, not 5000 ever reached him; fraudulent claims having captured the rest while in the hands of the 'trustee.' Of the 5000 shares also, much had been obligated in advance by the inventor to carry forward the work which otherwise must have been delayed, so that he had less than 1000 shares left when all claims were settled. This grand act is called the 'consolidation,' which took place in 1879, and since which all moneys raised by the company have come from the sale of shares out of this 40,000, which Mr. Keely then gave to the company. By some mysterious operations in the 'management' this 'Treasury Stock' has shrunk away very rapidly, bringing at times only a fraction of the price which other stocks of the same kind were selling for in the market, while the little cash which it has brought has only in part been used by Mr. Keely, and that has been served out to him in a sparing way, which would be shameful even if he had not furnished it all to begin with. The company now owe to Mr. Keely fifty thousand dollars loaned outright in its early history. To this indebtedness considerable has since been added. The public statements that Mr. Keely has been supplied with large amounts of money from the company are untrue, while it is true that of those who are regarded as his dupes a half dozen or more have made on an average at least $50,000 each from the 'enterprise.' The money with which Mr. Keely capitalized the company, in the first place, was obtained from the sale of territorial rights to men who have formed other companies for the purpose. "If Mr. Keely deserves prosecution by any parties, it is those who bought these rights, and not the ring who now control the company with stock which has cost them nothing.