Business & Finance: $18 Million Mystery

After four months' investigation of Tucker Corp., auditors appointed under the reorganization proceedings last week estimated the loss to investors at $18 million. For $25 million collected from the sale of stock, dealer franchises and auto accessories, the auditors could find assets of only $7 million—just half the amount listed by Preston Tucker and company directors when they petitioned the court for trusteeship last March. Where the $18 million had gone was a mystery. The auditors held that a "further investigation" was needed because "certain expenditures [were] of such an extraordinary type and amount."

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