The State Securities Commission of Michigan has suspended the sale of Rickenbacker Motor Car Company stock in that State because the company failed to obtain the commission's approval after the Trippensee Manufacturing Company was merged with Rickenbacker and the shared changed from $10 to no par value. The company contends no additional stock was sold, the exchange of old stock for new being made share for share.

B. F. Everitt, President of the Rickenbacker Motor Company, made the following statement yesterday:

“Action of the Michigan State Securities Commission is a formality.

“About two years ago, Rickenbacker Motor Company sold stock of the old company to the public and obtained the commission's permission to do so. No stock of the old company has been sold under this authority for nearly two years. The new amalgamated company has never sought permission from the Securities Commission to sell its no par value stock. The action of the commission simply cancels the old arrangement.”