, 1879-04-23
w. W. STRONG & CO.


Pureunut 10 cali the creditors Of the ". w. |
Strong Furniture Company met In the os1scc Of
4. b. Rtch No. 50 la Sa!!e street, at II O'Clock
Yesterday, to hear whatever proposition Mf.
Strong had to nuke to item, Mr.. Carter WAS
chpscn to preside, Mr.. Rleh. attorney for Mr.
j. II. Tbaycr, one Of the members Of TIC Com
pany nnl SECRETARY, read over the list Of credit
ora, and tlose present. were checked OIL, and Tic
Secretary of the meeting nutcl them down, Win
the amounts tln'Y represented. II va lohha
that about &2l, 900 VA reprssehtea IN o'..s PS.
able atMl open accounts, besides FeprUsentat1Ves
uf Judgment notes asd preferred Crct'fss'
Sir. Rlch showed tho following statement re-
gastltng tIse n!fara Of tbs CONCERN: Ltablltties-
Bills payahle, ss44s' 9usu ns, ~ aee9as' $1t-
043.sS'' Nemtnal a.set., sai,s9l.si.
Of the above liabilities. IN The ncfEl1borllood
Of sc, 00o was secured 1y Judgments nnd 1udg.
borrowed monuy, loaned by Mrs. Solomon and
| Alrs, Tlaycr, relatives ot the sefrcsafss Wno
nut the money into tho business nhou thu ts'n
was In distress. with the EXPRESS understanding
ever, Nj. Rich, WHO represented thGse Interests,
stated tat ho Ind authority TO telt tAo credit
s.ys ttnt, should they consent to allow thy ilrtn
70 % e s: .d 3 tra sss st M0aa seseEa
| other creditors, who had obtained judGments
enough % mako up tile balance ol tho ss1,ooo
or s21,0W.
MFs StfonR WIS cAHEA uFolI ~ Aano
STATEMENT,
which he did, uiying full hsstory nf tho organ
ization, The amount Of capital Invested stocks
isnucd. ctc,, ind st1nn of TIT prime causes ot
embarrassment. The Comnany 'fss ,oTEanized
n re- o,9,s Tie tas ss ssf df1sa Ill osy ~ss
wns not drawn out, but was turned over toward
paving up il,e stocks. Tho panic came on in
1919, a''d from tin. time s,,t, to t1s tl,s ",
H. hsa os nsea sa srs had hee ss
,lol1ar drawn nut OF The business except tn
salaries tlat ho knew anything about. lie had
! bucn personally injured to shs extent OF aoo"t
s9 trying 70 s .eep ran m ,n o 5osai2e his frenSs
until t1c could not Eet anything more. Tlle
principal caltscs OF tho prcacnt embarrassment
%f stoeE' M GerFa1 n aesi1aq ,e y ~ -
cont in prices. iIe ntca tl.at there might DOS
siby bu sonlo other cuuscs which helped tic
tning aI0ug, aud desired to haVo committee
9nts to 9os ysf e sncas u @ iGe
NJ, Strong claimed thnt he had not given
Tic representative who called npon him any
!, con,pans which had appeared In print 70 the
> injury Of other parties. Hs said the writer o1
tlic article must have obtained this Information
/ | from sonic Other sourro.
Sir. Strong wns asked uppn what basis ht
: wtsl1cd to settle, a,ld he replied uRon
THE BASIS or Is FER CENT.
Some OF the creditors thought TINT this TOT
!, small, according to tho statement md showsnl
. n,ule, but MIR Strong snfh u iooHra nt r'reson
= as though it would bo impossible for 'liEn to d.
J., | my better.
: Finally. IN motion. . committee Of thrco Q
the largest creditors, conststENE Of Mcssrs. Par
:, sons, Mitchell, ait! Plumncr, was appointed y
next uccti,Ig, which 1t ,.as decided shouu tax
p!ace Thursday Rftcrnoon at U O'Clock. III
z Committee was also empowered to hlre all e1