Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-14
In A RECEIVERS HANDS.

| New Move of the standard Plate Glass
Company-Brought on by the Failure
of W. e. schmertz, Who Was Treasurer
| of the Concern.
The STANDARD Plate Glass Company, OF
Butler, of which W. Z. Schmertz, Of this
city, was Treasurer, is in the hands of a
receiver. 1t was said that this condition OF
affairs has been brought about by Mr..
| Schmertz's failure The receiver, d. f.
Wheeler, has been the manager of the CON-
| pany 1or some time, and is thoroughly ac-
| quainted with the affairs Of the concern,
and enjoys the confidence of the stockhold-
ers and creditors.
A call WAS made at Mr.. Schmertz's resi-
dence last night in regard to the matter, but
Mr.. Schmertz is still to ill to be seen or to
have anything to saw in regard to his bust
ness affairs. His assignee, f. NJ. Quimhy, how
ever, stated that the report from Butler was
correct, and that a receiver had charge of
the standard Company's plant, upon which
extensive Improvements have been made
making this one of the finest and most COM
plete plants in the plate glass trade
Mr. SchmertZ was treasurer of the com
pany, and became personally responsible
for large sums of money which it was
necessary to borrow in order to make the
improvements which were required to place
the institution on its present money max
ing basis. Mr.. SchmertZ's failure Just at
this time necessarily involved the glass
company and brought about this temporary
embarrassment, consequently q receiver
was appointed TO protect the creditors and
enable the company to recover itself with
out serious loss.
Mr.. Quimby said the plant would be con-
tlnued in operation without interruption
and that arrangements would be made for
:he issuance of additional capital stock, the
net earnings justifying such step. and the
stockholders being perfectly satisfied with
the same.
James A Chambers is President of the
company and ii. Sellers Mckee Vice Presi-
dent Neither of these gentlemen could be
seen last evening by a DISPATCH representa-
tive, who called in quest of further informa-
tion, Mr.. Chambers sending down word that
he was seriously indispoSed and unable to
talk in regard to the matter
Two more executions, were issued against
Mr. SchmertZ yesterday, one by William f.
Morgan & Co. for SO, ,S53 81 and one by Charles
". Lee for So 047 90.
There was rumOr afiOat Yesterday that q
number of Mr.. Schmertz's Eastern creditors
were dissatisfied with the manner in which
they were being Disseminated against they
alleging that Mr.. Schmertz had confessed
Judgments to his friends and members of his
family for the purpose OF defrauding
them of their claims. 1t was said
that three of these creditors had
retained Attorney, w. S. Pier. and
empowered him to file a bill in equity in
their behalf against Mr.. SchmertZ and others
in whose favor judgments have been con-
fessed. call was made on Mr.. Pier yester-
day afternoon, for the purpose of learning
the scope of the bill in equity which he was
affable, was not communicative. merely say
ing that he could not make a statement as it
might be detrimental to his clients. Mr.
Quimby, when asked about the matter said
that he had not heard of it, and had nothing
TO say. as he did not believe any such steps
had been taken.