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R. G. DUN & CO., DEC. 10, 1932.

Rv.
RAINS AUCTIONS ROOMS INC. Auctioneers 
New York City 3 East 53rd Street

Benjamin Brotman, President
Charles Albert, Treasurer
DIRECTORS: The officers constitute the Board of Directors; Cond. 366 1, December 8, 1932.

HISTORY

Incorporated under New York laws December 1, 1931 with an authorized capital of 200 shares of common stock, no par value. Term of existence perpetual. Business at this address was formerly conducted by a concern known as Rains Inc. of which organization Samuel G. Rains who died on September 16, 1931, was one of the principals at interest.

Benjamin Brotman is married, aged 35 and appears as Treasurer of Leo Elwyn & Company Inc., antiques, etc. 23 West 55th Street, a New York corporation dating from October 29, 1920 with an authorized capital of $50,000. Was formerly employed by S. Baumeister for several years as manager of the Motion Picture Department.

Charles Albert, Treasurer, is 35, married and appears as Secretary of Leo Elwyn & Company Inc., antiques, 23 West 55th Street.

METHOD OF OPERATION

Transacts a general auctioneering business, specializing in auctioning works of art, also the appraisal of estates, and operations are entirely in the interest of others on a commission brokerage basis.

FINANCIAL INFORMATION

Since the inception of the corporation a financial statement has been withheld. The bookkeeper interviewed under dat of December 7, 1932 claimed that there was no change in the personnel and added that they do not give any financial details for publication on the ground that there is no credit accommodation being sought.

Occupy a good sized store and basement and all merchandise is shipped here on a consignment basis. Personnel appears well spoken of, affairs siad to be well managed and while no estimate of the concern's resources can be obtained in the absence of a direct statement, are looked up on as possessed for current needs.

FIRE HAZARD

Occupy a large store and basement, situated in a six story fire-proof structure. FIRE RECORD: No fire loss.

PAYMENTS:

As far as learned the concern seeks no credit accommodation.

SUMMARY:

SINCE THE INCEPTION OF THIS CORPORATATIN ONE YEAR AGO, A FINANCIAL STATEMENT HAS BEEN WITHHELD ON THE GROUND THAT THEY ARE DOING NOTHING INVOLVING CREDIT. THEIR OPERATIONS ARE ENTIRELY ALONG THE BROKERAGE LINE AND WHILE UNKNOWN AS CREDIT SEEKERS ARE HELD RESPONSIBLE FOR CURRENT OPERATING EXPENSES.