![]() You can find just about everything inside these grocery stores from cheese to bubble gum. In his last years Saunders was working on an even more intricate mechanism - the Foodelectric. Advertisement You cant go far in the South or Midwest without running into a Piggly Wiggly or two. It was found that the machinery was too complex & expensive to operate. He has been in retail management since 2004 and has worked for Piggly Wiggly since July 2009. After that he started another grocery chair, called the Kedoozle, an electrically operated store. Gil Soley is a retired Army Veteran of 21 years. The depression hit these stores in 1930, & they went bankrupt & he was broke again. Saunders came back, however, In 1928 he started a new grocery chain called the Clarence Saunders, Sole Owner of My Name, Stores, Inc. ![]() This resulted in eventual bankruptcy for Saunders & he was finally forced to step out of the Pigp]y Wiggly Company. At this point the Exchange suspended further trading & postponed the short sellers' delivery deadline. The stock went up wildly, reaching a high of 124. His buying campaign was an attempt at a corner. He supplemented his own funds with a loan of about ten million dollars from a group of bankers. When a group of bears began selling Piggly Wiggly short to force the price of the stock down, Saunders began a buying campaign to support the price of the stock in order to protect his own investment & that of other Piggly Wiggly stockholders. By 1922 the stores had flourished so that its shares were listed on the N.Y. ![]() as the last man who engineered a real corner in a nationally traded stock. ANNALS OF FINANCE about Clarence Saunders of Memphis, who in 1919, founded the Piggly Wiggly Stores, a chain of retail self-service markets situated mostly in the South & West, with headquarters in Memphis. ![]()
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