Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-26
NO STATEMENT YET.
Directors of the Standard Plate Glass Com
pany Meet-No Definite Arrangements
Made-sale Of the Schmertz Property In

Directors of the Standard Plate Glass Com
Made-sale Of the schmertz Property in
Progress.
The meeting of the Board of Directors Of
the Standard Plate Glass Company was held
yesterday, as per announcement. This
meeting was called at the instance of At
torney j. Scott Ferguson, who found it
necessary to have a detailed statement Of
the Standard Company's affairs before he
could complete the statement of Mr.. Cham
bers' financial condition which he Is prepar-
ing, and on which an extension will be asked
from Mr. Chambers creditors. A number of
tie directors and creditors of the Standard
Company and of Mr.. Chambers were present,
Dut no decisive action was taken owing to
the absence of Judge Kennedy and several
other large creditors and stockholders. A
Willingness was generally expressed by
Gnose present to agree to allow the
standard plant to remain in the re-
ceiver's hands and to grant Mr.. Chambers an
extension. conference will be held to-day,
and matters brought to such focus that
maj papers can be prepared h SHOWING the
and that of Mr.. Chambers.
MrSChambers said yesterday that If things
turned out as they desired and expected,
there would be no doubt that the extension
would be granted. He added that from
present appearances Mr.. Chambers assets
and liabilities would be about equal, and in
the neighborhood of 100000, but this he
could not affirm positively as yet, for Mr..
Chambers affairs were SO identified and SO
intermixed with those of the Standard Plato
Glass Company that everything depended
on the showing of that company and the ac-
tion taken by its directors and creditors.
Mr.. Chambers is on the paper of the Stand
ard Company, as indorser, to the extent of
500, ,0OO
Mr.. Ferguson said that he had no doubt
now that the Standard Company would be
able to pay out if left in the hands of the re-
ceiver, and If this is conclusively shown,
Mr.. Chambers affairs will be placed in such
light that his creditops will be well pleased
to grant an extention of five years, in which
event every debt will be paid, dollar for
dollar, as Mr.. Chambers has large amounts
invested in various enterprises of large earn
ing capacity, such as the Jeannette glass
plant, the Birmingham Traction Company,
and others. Some definite arrangement
will be made today
One hundred shares of Standard Plate
Glass stock were sold yesterday for the
Farmers National Bank at s21 share. The
stock at this time latt year brought $l05.
The many friends of Mr.. Chambers will be
pleased to learn that he has completely re-
covered from his recent indiSpositiOn.
The Sheriff's sale was in progress yester-
day at the shoe store of w. E. Schmertz &
Co., on Fifth avenue. Assignee E. NJ. Quimby
and Attorney W. F. McCook were in the Of
flee and stated that the bidding was fairly
lively, but that the prices obtained were
very low. The stock was offered in lots, and
None OF the Eastern parties or their repre-
sentatives were present. Mr.. McCook said
that the sales yesterday would amount to
about $50, 0OO