The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1885-01-27
Oliver Bros. g. Phillips.

Pittsburg, Jan. 1o-The creditors O
Oliver Bros. q Phillips and Oliver & Rob
erh Wire company, met here this mornipl
st 10 q %. TO discuss the affairs of the firms
The attendance was large, all the creditor
being represented. 81. w. Oliver, jr., pre-
scented the following statement.
PIrrsBURG, January, 90, 1885.
To Our Creditors.
We submit for your consideration the
statement of our ssseis and liabilities. We
feel certain that careful perusal of this
statement will convince you as il
has convinced US that the allowance al
reasonable time on your part, aided by
careful management on ours, will enable
as 10 pay all our debts. With this end In
view, we propose TO pay all claims against
Us, not secured by mortgage, BY our notes,
maturing as follows: One-ffih on Febru-
ay I. 1885 ) one-6fth on February l, 1887 /;
ene-hfth on February l, 1888; one-fifth on
February 1. 1883; one-6fth on February /,
1880; ezch note to bear interest at the rate
OF per cent. per annum from
dsfe- When the claims are respectively
due parties holding our psper endorsed or
guaranteed By other persons will rec i've
the same endorsement or guaranty on the
extension notes. To secure :hese notes we
viii deliver TO any trustee or trustees that
may be named BY you, NOR gage cover
ing ali our real estate la Allegheny and
Westmorland counties. We also propose
to make semi-annual reports to said trus-
tees OF the condition of our
business and If in their opinion
IT Is possible without interfering with car.
rying on the business to anticipate any paw.
meots above mentioned they are to have
authority to so direct We also REQUEST a
like extension OF our individual liabilities
upon the same terms as above proposed TO
our partnership creditors to secure which
esch OF us will execute and deliver TO said
trustees mortgage covering all of the sale
OF said real estate to be applied FIRST to the
payment of the owners debts and the bal |
ance to partnership debts.
The statements were discussed at length |
and committee of FIVE appointed 10 en-.
anime into them more closely. The COM
mit.ee retired and ter an absence for some |
time returned and reported favorable. 1t
vas then decided to take no final action nm
Ill Thursday the 18th inst, when another
meeting will be held. In the meantime a
borough examination will be made by the
which was continued. The great.
st harmony prevailed at the meeting and
! disposition manifested BY creditors to
rant the five years extension asked by the
irms and it is thought such
lctiOn will be taken at the next meeting.
The assets are considered unusually good.
Dur liabilities aggregate S,508, 338.9S and
'ur assets are $2,319, 352.42. The state
nent OF Oliver & Roberts Wire compsny,
limited shows the total liabilities TO be
'9o2, 1928 and the assets ST. ,259, 5000.
hey say in this statement "our plants are
ut in at cost and the stock at the mills
re estimated as being the same in quantity
on July LIST, last, ct which cur last
ccount of stock was taken with deduc.
ion OF l22 per cent for shrinksge in value. /,
We assume that the mortgages on our
~ estate which are all held by strong I
'arties can be carried rs long a. the inter.