Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-05-15
THE CRITICS SUSPENSION.
Newspaper Goes Out OF Business and
Into . Receivers Hands.

THE CRITICS SUSPENSION.
A Newspaper Goo. Out of Business and
Into . Receivers Hands.
AFTER ISSUING THE PAPER MANY MONTHS At A
Loss THE PUBLISHERS DECIDE TO WIND Up
AFFAIRS RATHER THAN INCUR FURTHER m
pEBErEDNEss-wHAr THE DOCUMENTS SAT.
The Washington Critic suspended publica-
ton last night and the property held in the
name OF the company passed into the hands of
q receiver appointed by the Equity Court on
the application Of Mr.. Richard Weightman,
the editor of the paper and one Of the stock
holders Of the company. The statements made
in the papers filed in court tell Of what seemed
to be . hopeless effort to make the paper pay.
few months ago money was raised on bonds
issued to the amount of Sl2, 200 TO carry on the
paper.
As publication has been continued at loss
Of about q, 900 a month . crisis was reached
when 1t became necessary either to issue new
bonds, which would jeopardize the interests of
other creditors, and especially Of Mr.. Weight
the company, or else suspend publication and
have legal steps taken to settle the affairs Of
the company.
At a meeting Of the stockholders yesterday
afternoon the latter course was decided upon.
Dir. Weightman's suit was fled late in the af-
ternoon, together with the answer of the COM
pany. Mr.. Henry E. Davis was appointed re-
ceiver by Judge Hagner, and his bond of
S250OO, with Messrs. Robert o. Hoffman and
William Gait as sureties, beinSapproved, he
at once took charge of the property. The
action was somewhat sudden and created con-
adorable surprise, especially among the
employees OF the company. forty or fifty in
number, who suddenly found themselves out Of
employment.
Mr.. Davis will simply take charge of the prop
erty and not continue the business II Mr..
Davis had any desire to experiment in journal
ism with the paraphernalia at his disposal he
would be restrained from carrying it into effect
by an express provision in the order issued by
Judge Hagner appointing him as receiver.
MR.. wEIGHTMAN's SUIT.
Mr.. Weightman's bill, filed in court BY Mr.
h. E. Davis, as his solicitor, names the Wash
ington Critic Company and Messrs. Brainard
H. Warner and William E. Edmonston, trus-
tees, as defendants. Messrs. Warner and Ed
monston are the trustees named in the trust
deed given to secure the bonds of the COM
pany.
The bill says that on July o, 1890, stilson
Hutchins recovered in the Supreme Court of
the District against the defendant, the
Washington CRITIC Company, a judgment
for the sum of ss,s2s.7S, with interest
from January %, 1890. upon which
Judgment q credit Of $1,000 was entered
on the 18th day Of November, 1890, as of
the 10th day Of November, 1880; that thereafter
the Judgment was duly entered to the use of
the complainant, who is now the lawful holder
thereof, and that after the complainant be-
came holder OF said judgment on the 8th day
| OF May, 1881. he duly caused to be issued the
writ OF herl facias upon the Judgment, which
was on the same day returned "nulla bona"
and the said judgment, subject to the said
credit, remains unsatisfed.
That on January 26, 1891, the defendant, the
Washington Critic Company, in order to secure
20O registered bonds Of the said company of
the par value Of 500 each, payable in ten years,
with interest at per cent, duly conveyed to
Brainard H. Warner and VIM. Z. Edmon-
ston, trustees, one Hoe press and other
personal property in the office of the company,
and also one share in the capital stock of the
United Press" so-called OF New York, state of
New York, and q franchise described in a GER
| tifcate Of THE United Press and all personal
property that might thereafter be acquired by
the Washington Critic Company in lieu of
OF trust mentioned, which was duly recorded;
that OF said 200 bonds there were before the
Issuing OF the writ OF feri facias on the COM
piainants Judgment actually Issued for moneys
loaned and advanced to the Washington Critic
Company and used for or in the payment
Of the current running expenses thereof 1871
OF the value of S12, 200, each OF which
bonds is still outstanding and unpaid and that
by reason OF these bonds issued before the
issue Of the writ Of feri facias the bonds are
lien upon the property of the company su-
perior to the lien OF the compliments judg-
ment
That besides the property in the said deed of
trust, aforesaid mentioned. and save and ex-
cept some open accounts, small in amount and
uncertain il value, the company has no other
property of what kind soever and no property
or estate out OF which the complainant can
have satisfaction OF his Judgment at law.
That since the 18th day of November, 1890,
| the company has been publishing an evening
newspaper in the city of ashinston at loss
of about $4,000 month, and is now being is
sued at about the same rate of loss; that on
the I'd day of May, 1891, a further Judgment
for the sum of S772.72, with interest from the
| 18th day Of July, 1890, was recovered against
the defendant company in the Supreme Court
OF the District Of Columbia at the suit of Smith
Dixon Co., and the company is otherwise
| indebted to various persons and corporations,
and that the entire property and assets of the
company are insufiieient to pay and discharge
its just debts and liabilities-
That the company SO being wholly insolvent
and utterly unable to meet its just debts and
liabilities II 1t be permitted to continue the
conduct of its affairs as at present the entire
value of the franchise in ''1he United Press
will be expended in meeting the current ex-
penses Of the company, and the losses
heretofore indicated will be made good. if
at all, by further issue Of the bonds.
thus impairing, II not wholly destroying the
value Of the compliments Judgment and ex-
GLIDING all other creditors Of the company than
the holders Of the bonds from the realization
Of anything on account of their several in
dedtednesses.
The bill then asks the appointment of a re-
ceiver of all the property, effects and assets of
the Washington Critic Company, whether COW
cred by deed Of trust mentioned or not. and
that the affairs Of the company may be,wound
up under and by direction and order of this
court, and its property subjected TO the pay
ment and discharge Of the cOmplainant's judg-
ment and the other indebtedness of the COM
pany.
TIE CRITIC ooMPANy's ANSWER.
The separate answer Of the Critic Company,
signed by Samuel Maddox as president and
John @. Poor as secretary and treasurer of the
Washington Critic Company and dated yester-
day, admits the Averments made in Mr. Weight
mans bill as to the Judgment recovered by
Stilson Hutchins and the trust deed to secure
the bonds.
''Said bonds 30 issued, /" the answer says, "are
held a. follows: John T. Arms, 50 800; George E.
Emmons, $500; Mrs. A. L. Weightman, 5000;
Richard Weightman, 81, 400; William Il Webb,
500; George A. Mcllhenny, $500; Samuel Mad
dox, $500. The remaining bonds intended to
be secured by said mortgage are unissued and
now In the hands Of this respondent.
'This respondent further admits that since the
18th day of November, 1890, it has been pub
fishing an afternoon newspaper In the city Of
Washington at q loss Of from 81, 500 to %, 600
per month and that the feasibility OF longer
continuing said publication was discussed at