Although prior to his founding of Galahad Press his annual earnings aggregated from $5,200 to $40,000 a year, he invested only ten dollars in the organization at the outset, William Dudley Pelley, anti-Semitic Silver Shirt leader, testified as his cross-examination ended here today during his trial on charges of violating the North Carolina “blue sky laws.” His earnings dropped in 1929, he said.
Albert H. Blake, certified public accountant, witness for the defense, declared it is not “good accounting” practice to carry capital stock as a liability. Removing the capital stock from the liabilities column, Galahad Press had assets in excess of $12,830 over liabilities, instead of $100, as charged by the prosecution, Blake said.
On cross-examination R. R. Williams, special State’s attorney, questioned Pelley regarding financial affairs of the Galahad Press. The State also attempted to introduce several ideas attributed to Pelley, but was overruled by Judge Warlick.
Shortly after the cross-examination began Mr. Williams asked: “Have you ever been dead, Mr. Pelley?” Defense counsel objected and was sustained. Thomas J. Harkins protested, saying: “Your Honor, this man’s book, ‘Seven Minutes in Eternity,’ in which he says he died and came back to life, is among the assets of this corporation and we think this question has a bearing on its value.”
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
