The clarion. [volume] (Jackson, Miss.) 1883-1888, 1884-07-30
The Committees Plan Of Aaiu,tn.,.
IAeksOz, Mss Jaly ss, 1884.

-~-s - Aoet-
DEAR.
AZ meeting Of the Commits. ,...
81 ~ the creditors Of Grse-ss Fs-S =.
90 anso TIE Affairs Of sid Ba-S. 80 -.
s-sS- .-le proper course 70 Be pzrr-ed. -.
removing resoirtiops we~e ado-.es
1rsts That the creditors az Geo., ~
oe requested 70 unite in advising the Co.
eeilor to direct and order the Recs;~s-
l. Power, to sell all the assets ana ,,-',.,.
| y OF the Bank, to Joshua Cree, II =
green and Joshua J. Green. for fopr -
ered ana SIXTY thousand dollars. psrsbis =
TOUT equal payments. Of SIX, twelve. siybtss,,
and tventy-toar months, with six ,,eS rs,,t
per snnum interest from the tiar 81 -
the instSilments 10 be evidenced hv -
pro1lissory notes OF the purchasers. which
are % oe MED with the report Of the Re-
ceiver, in the Chancery Court 81 - S -. ~
District Of Kinds County.
Second. That in order to secura AZ ~,
per application Of the collectioDs - -
the said proposed purchasers. 10 ne ~.
ment OF the notes given for the purchase
money, d. \. Barrows, ". p. Harris ana q,
A. Pardue shall be appointed a. an Asvis-
ory Committee for the creditors, and shsn
be allowed free access to the books OF he
Bank always. In case Of the death OF either
OF said committee. the Chancellor may sub-
stitute another in his plaee. and 50 con
tlnue until the final payment Of the pur-
chase money. The appointment of this
committee Is upon the suggestion Of Mr..
Josiah Green.
Third, That the Chairman OF this Com
mittee be, and he is hereby reanasts5 =,
forward TO the creditors a copv 81 tha.s
resolutions with a circular presenting The
grounds upon which they are based. and in
NIte their assent; and. to this end. that A
proper note of concurrence be appended 10
the said circular
Fourth, That as soon as a majority in
numbers and amount of said creditors .bau
sign and return such circular and resolu-
nons to the Chairman, the Chancellor shall
oe invited 20 call special term Of the
onAnoery court OF the hrst district of Kinds
county to order said sale: and a. a. -
compensation of the Receiver. for ~ -
vices as Receiver in connection with ~. =.
tate, at not exceeding i've hundred dollar
ruth, That the interest on all the Hahil-
tiles of the Bank, whether by open account
or otherwise. shall be fixed and COMMITTED
at six per cent. from tins date
The Committee desire to say that thew
have given the matter submitted to them
the attention which their limited time
allowed, and, while they think that The
statement submitted to the ereditors TODAY
Is fair and Just, they are persuaded that ~
wlsest. earliest and best polio, 70 he pur-
sued Is suggested in the above resoIutioDs
The price fixed equals all the debts dne bv
the Bank, and the installments We do not
doubt can be readily met Aside from the
security afforded by the lien which the Law
would give the creditors upon the property
sold, they will have in the person Of M.
D. Green such additional security as makes
the payment Of the notes for the purchase
money, We think, perfectly secure. With ne
largest possible allowance for defaults NJ
Green brings into the business assets IN ths
amount of $4,000.
We have not had the time to make a r;gid
examination into the assets of the Banlr ~
to make detailed statements thereof. but va
have made arrangements with the former
cashier OF Green's Bank to afford 10 AIN
creditors the opportunity to examine fbs
books of the Bank whenever they NAV 40
desire. he will be at the Bank each dsv
from . A. NJ. TO 4 p. NJ. to receive ali credi-
tors and afford them the necessary facilitis.
for examination. In his absence tba Re
ceiver will supply his place as well as h.
can. ~
We conscientiously believe that our sug.
gesuons AFFORD the only feasible solution q
the difficulty and will realize the largest re-
suits for creditors. If the settlement i a.
lowed to go into the Courts for litiOation
we fear that disasters greater than that
already experienced viii follow.
There will be four instalIments of NM
chase money to be paid, and as each in.
stallment is paid there will ratable distri.
button among the creditors, each crediso,
getting one-fourth of his debt Creditors
who do not now hold certificates will please
have their accounts promptly adjusted and
the balances due them verified hy the Re-
celver's certificate, so as to entitle them 10
distribution. ~
we invite You to promptly sign the ap-
pended note Of concurrence and transmits
to our Chairman, Gen. Writ Adams.
| WRIT ADAMS.
j. B. HARRIS.
@. A. PARDUE.
w. H. TRIBBETTR.
W. L. NUGENT.
agree to the plan proposed in aboxs
resolutions and Circular, and authorize r.
Committee to act for me. WV
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| Dated Mt