Middlebury register. (Middlebury, Vt.) 1886-1937, 1893-06-09

CREDITORS CALLED.
The schedules of assets and liabilities of
the Orwell firm of Hammond, Bush q
Co., which lately has become
insolvent, were fled in the insolvency
court here yesterday. A meeting of the
creditors for the purpose of choosing an
assignee or assignees has been called for
Thursday, June %. AT this meeting
only the unsecured company creditors
can vote.
The firm was composed of Charles E.
Bush and VIM. b. Wright of Orwell and
Thad NJ. Chapman of Mddlebury. The
insolvency proceedings involve, of
course, not only the settlement of
the affairs of the company as
such, but also of the private affairs
of each of the three members of the
firm, making the administration in fact a
four-fold one. The assgnees of the
company will also administer the indi-
yidual assets. Private assets will be APP
piled for the payment of private debts
and company assets for company debts.
Any surplus in the private assets after
paying private debts will be transferred
to the company assets for the benefit OF
the company creditors.
1t appears from the schedules that the
Indebtedness of the company is, in
round numbers, S450,000, of which
amount about $4,000 is secured
by collateral. The company creditors
number about $50, located mostly in this
part of Vermont and in New York. OF
the Indebtedness the entire amount except
about $4,000 is represented by notes.
The company assets are nOminally
about S542.0OO. They consist of about
Nf Il nst tA aul fof re
mortgages, about $1,000; contracts taken
for lands sold, about $4,000; loans and
discounts. about $4,000; book accounts
about $4,000; stocks pledged as col
lateral, about $l30,000; stocks not
pledged. about Sl60.000. 1t is naturally
expected that in the liquidation there
will be a great shrlnkage in the value OF
these assets, especially in view of the
financial condition of the country.
Coming now to the private debts and
assets of the several members of the firm.
we will first take those of Mr.. Wright
His total indebtedness. as shown by the
schedule, is about $4,000, of which
100000 was incurred for the company
and was included in the above state
ment of the company liabilities. His
whole indebf fedness except about $1,000
is secured by collateral. Mr.. Wright's
assets, as appears from the schedule, are
nominally about $4,000, and are made
up of stocks ro the amount of about
1000; cash, $1,000; vehicles and pro-
duce. about $1,000; accounts, about
$4,000; real estate, about $4,000; live
stock. about $500; sixteenth interest in
the store of w. B. Wright & Co., estima-
ted at about $4,000; notes and mort
cages, about S42, 900. The notes and
mortgages are very largely on Eastern
property.
Mr.. Chapman's schedule shows debts
to the amount of about 100000, of which
sum $4,000 is secured by collateral
His creditors number 81. Mr.. Chap
mans assets, also shown in the schedule
amount, nominally. to about Sl9S,000
They consist of stocks of the par value
of S92, 600, about $4,000 of which are
pledged as collateral bonds. 1000
pledged as collateral; real estate, abou
$52, 900; lumber, about $4,000: bills anC
accounts receivable. about $4,000; life
insurance, $500; other personal prop
erty, about $4,000, and cash, about Sll00
Much of Mr.. Chapman's property, like
that of the company, is in the West, ant
is quite certain to suffer from the de
probation of values there.
Mr.. Bush's private schedule will b'
filed today.