OCR transcription — Page 16
BU 92-61
[Continuation from page 15]
the distributing company. The Dun and Bradstreet report reflects that the debts of the distributing company are moderate, the authorized capital is twenty thousand dollars, consisting of one hundred dollars par value shares; and on December 8, 1941, the authorized capital was increased to fifty thousand dollars. The Power City Distributing Company sells Utica Club, O'Keefes, Pfeiffers, and Budweiser Beers under license C903. The company employs twenty-four individuals, has fourteen trucks, and operates out of a one-story frame building which the company owns.
Dun and Bradstreet report reflects that the investigator from Dun and Bradstreet interviewed [REDACTED] on August 19, 1957, and he declined to furnish a detailed financial statement for the company, but said that the annual sales for the company were considerably in excess of seven hundred thousand dollars. [REDACTED] further remarked that the investment in equipment and trucks was estimated to be over seventy thousand dollars and the inventory in excess of thirty-five thousand dollars. He further advised that the debts are reported to consist of moderate trade bills. The Dun and Bradstreet report further reflects that a low five-figure balance is maintained at a local depository where the distributing company does not borrow.
On December 20, 1957, [REDACTED], Niagara Falls, New York, Credit Bureau, furnished the following information:
STEVE MAGADDINO has been on record at the Credit Bureau since 1927. At that time, he was listed as the President of the Empire Beer Distributors. She stated there is a notation on the subject's credit card setting forth that STEVE MAGADDINO is 'reported to be a major racketeer.' There is also the following notation on the credit record of STEVE MAGADDINO: 'Credit rating of company fair to good, but poor risk because of past activities in prohibition era and present outside and including business.' [REDACTED] stated she was unable to explain the above notation any further, and said that the notation had been put on this credit card by [REDACTED] in 1938, and [REDACTED] is no longer an employee of the Credit Bureau. She doubted whether [REDACTED] was still in Niagara Falls.
On December 9, 1957, [REDACTED] of the Alcohol Beverage Control (ABC) Office in Niagara County, [continued on next page].
[Printed report page 11]
Uncorrected machine OCR. Verify names, dates,
and quotations against the original FBI scan.