Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1892-02-05
A PROPOSITION.

4 PROIDSlllON'
Messrs. Rosenberger & Smiley are sub
hitting proposition to their creditors
for the settlement of the firms indebted
ness. as far as it is.n their power.
They propose to pay so cents on the
dollar. on or before the first of July, 1892,
(or as soon as possible, prior 10 that date,)
and give their moral obligation for the
remaining 80 per centum. Their PROPOSE
ton sets forth In plain and specific terms,
that the assignment made by them in
December is to stand, as it now exists, for
; months, or until the so per centunl is
maid. when the assignment becomes void,
and Rosenberger Il Shirley are released
from all further responsibility, except
that implied in their moral obligation.
In the event, they fail to pay 80 per
centum in the time indicated, the assign
ment becomes operative, and fully in force,
the creditors, in the mean time, and at
the expiration of the five months, being
as fully secured by the assignment, as
they now are.
Many persons who have been approach
ed upon the subject seem friendly to this
proposition, and readily agree TO it. By
this means, il successful, all litigation is
put at an end, legal fees, advertising bills,
commissions, and numerous other attend
ing expenses will be saved to the credi-
tors. and the matter settled IN five or less
months.
Experience has taught people that courts
are slow and uncertain, and lltigaticni are
expensive, and often do not advance the
interests of the creditors.
This proposition is no doubt deserving
of careful, judicious consideration but OF
course. 1t will be Ineffective unless al the
creditors Join in and agree to it.
The matter will soon be presented to
the individual creditors, for their consider
alton. who can act, as their best iudg-
ment dictates-for themselves.-SheRdn'
doah Vdltey
The above proposition will amount to
nothing, as the deposlters who have been
fortunate enough to secure themselves by
attachments will never surrender a sure
thing for anything as uncertain as prom
Use from Rosenberger & Shirley.
THINKS lie YET OWES MUCH MONEY.
DE Kagey, now of New Market, wrote
/ the HOCktHgfuH AfNto'S ~ Wy @N~'~-
letter, or else his fortunes have most
wonderfully improved since the COLLAPSE
of the firm of d. +. Kagey & Co. II hi
statements in the Register are true it viii
give great pleasure to number of person.
in this vicinity who were depostors II
the defunct bank of d. F. Kagey d Co
We are afraid, however. that "top-loiti
cal" airs wont bring the money back tha
belongs to innocent depOsitors.-Hrah
Of Progress.
"Othello," the Luray correspondent o
the Stanley Herald, says; money mat
} ters are very tight here, business rathe
dull and collections difficult to make, tb
J result--in q great measure-of our ban
failure and the collapse Of our boom. b
T the way, Mr.. Kagey, Of ID. r. Ksgey. q
J Co., says they are able to pay all o
} their indebtedness. Well, why don't the.
: do it 4 Or at least begin to payI AT
: thew able but not willingi The peopl
! of Page used TO belieye Mr.. Kagey bu
: they may be trifs incredulons now
II has been over thirteen months sine
the bank failed and not one cent has bee
! paid to depositors-at least not publicly
:, Time depositors will sell their claims fo
] ten cents on the dollar, Notwithstanding
Q Mr.. KS assertion of their ability to pa
). dollar for dollar"
A. - Uas1 lNaI