OCR transcription — Page 147
BU 92-61 — Printed report page 17
The company employs twenty-four individuals, has fourteen trucks, and operates out of a one story frame building which the company owns.
The 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 $700,000. [REDACTED] further remarked that the investment in equipment [REDACTED] trucks was estimated to be over $70,000, and the inventory [REDACTED] of $35,000. 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 13, 1957, Commissioner WILLIAM PHILIPS, New York SLA, New York City, advised the records of the SLA reflect STEVE MAGADDINO was individually licensed as a beer wholesaler from 1933 to 1936, and in 1936 [REDACTED] operated under the name of Power City Distributing Company [REDACTED] 1113 La Salle Avenue, Niagara Falls, New York. This company [REDACTED] the La Salle Avenue address until December 20, 1954, when they moved to 200 9th Street, Niagara Falls. Commissioner PHILIPS advised that the SLA has been investigating the operations of the Power City Distributing Company since 1954.
On January 24, 1958, [REDACTED], SLA, Buffalo, advised that on July 25, 1957, revocation proceedings were brought against the Power City Distributing Company, Inc., to revoke their wholesale beer license. He said that the Power City Distributing Company had been charged with sixteen infractions of the rules and regulations of the SLA. [REDACTED] stated there is nothing in the charges against the Power City Distributing Company to the effect that STEVE MAGADDINO or the Power City Distributing Company are using illegal or unethical means in the sale and distribution of beer sold by that company.
On March 17, 1958, Commissioner WALTER SCHMIDT, New York SLA, 270 Broadway, New York City, advised that the Power City Distributing Company had officially notified the New York SLA that in view of the revocation proceedings brought against the company by the SLA it was surrendering its license, and asked the New York SLA to sell its equipment and go out of business.
[Draft: covered text and uncertain words have not been reconstructed.]
Uncorrected machine OCR. Verify names, dates,
and quotations against the original FBI scan.