The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-24
M'NULTA IN CHARGE
ANOTHER SENSATION IN THE CON-
DUCT OF THE WHISKY TRUST.
All Three Receivers Tender Their
cup Continues McNuIta in Control.

CHICAGO. March 23.-All three of the re-
ceivers of the Whisky Trust resigned to-
day. The designations We're presented to
Federal Judge Grosscup. The receivers who
resigned are General John McNulta, John
j. Mitchell and e. f. Lawrence. McNuta
was afterward continued as sole receiver of
the trust.
The proceedings before Judge Grosscup
were quiet and apparently entirely peace
able. 1t had been rumored that Receiver
Lawrence, who had held over from the
original Greenhut receivership, would re-
sign to-day, and Judge Grosscups chambers
were filled with interested f1nanciers when
the matter reached a hearing. According
to the stories af1oai, Mr. Lawrence had be-
come dissatisfied with his treatment by the
other receivers. He had not been consulted
it is said in any of the important moves
and mad been looked on with disfavor and
suspicion by the reorganization commit
tee. His previous connection with the
Greenhut management had rendered him a
suspicious Character, according to rumor,
and it was consequently expected that when
he handed his resignation to Judge Gros-
soup to-day some inside facts and sensa-
tional disclosures would be developed, but
the expectation disappointment
The three receivers of the trust arrived
There was every appearance of cordiality
between them and the proceedings were
conducted without the slightest show of
friction. Receiver Lawrence quietly handed
a folded paper to Judge Grosscup. 'I desire
to present to your Honor" he said. my
resignation as receiver for the Distilling
Company. am very busy with my private
affairs and do not feel that I should devote
any more of my time to business that is
of little personal interest to me-"
And T. said John j. Mitchell, ''also wish
to resign my position. have no time to
devote to this receivership and, further
more would like to suggest that / believe
that three receivers are unnecessary. I am
easily handle the business which develves
ON the receivers and, owing to pressure
of private business, cannot consent to be
one of Them
General McNultas Immediately followed
with his resignation. He said that mas
much as. the other receivers had resigned
he felt that he should follow their example
and leave the court free to dispose of the
matter as 1T thought best.
Juoge Grosscup intimated that he believed
the receiverShip had been in good hands
but added that he belle, ed, with Mr.. Mitch
ell, that three receivers were unnecessary.
1T is my opinion said the Judge that
the affairs of this company can be sue
ceSsfully handled by one man, and wish
a consultation between the attorneys and
other interested parties on this phase of
A lengthy discussion of the matter fol-
lowed, it being generally agreed that but
one receiver should be appointed. At the
conclusion of the conference Judge Cross
cup announced that he would accept the
designations of receivers Mitchell and Law
renee, and that General McNulta would be
continued as sole receiver In explanation
of his action, Judge Grosscup said: 1.-THE
designations were rendered because it was
thought that the business of the receiver
ship had reached such stage that one man
could conduct it without difficulty. There
has been no trouble between the court and
the receivers"
General McNulta not disposed to dis
dessa the oer att fEee simply ten
count OF a question of administration
There has been conflict or disagreement
concerning the conduct of the business
The court and the receivers have been in
harmony throughout. Messrs. Mitchell and
Lawrence said that all the explanation they
could make was made when they handed in
their designations. The question of COM
pensatio,aa ,a OF the two retiring receivers will
turn from California, where he is going on
a brief vacation.
of the trusts affairs, has in reality had
control since the receivers took charge after
the overthrow of the Greenhut receiver
ship. Judge GroSscup appointed him as the
courts direct representative and receiver
in-chief, while Mr. Lawrence was named
agement and Mr.. Mitchell was appointed as
a representative of the stockholders Cen
McNuita is a prominent Chicago LAWYER
and was formerly receiver of the Wabash
railroad
The quick change in the receivership sit
uation caused something of a sensation in
financial circles, and various rumors were
soon af1oat. 1t was the general belief that
u0SplJ0 the dSSSTllOuS Ol the receivers to
the contrary, the designations were the re-
suit of a merry war between the three men.
1t was confidently asserted that to-day's
court proceedings were arranged solely for
the purpose of letting Receiver Lawrence
down easy" and that his resignation was
not wholly voluntary. 1t was common talk
on the Stock Exchange that Lawrence had
been accused by the reorganization people
of working in the interest of the Greenhut
crowd, and that he had been refused insight
into the plans of McNulta and Mitchell.
General McNulta and MIR. Lawrence had
Coid han a. nirtc sir
early days of the receivership, and that
the affairs of the trust would have suffered
had not the trouble been settled by the re-
moval from office of Lawrence. To-day's
affair generally considered as proof
of the supremacy of the reorganization
Greenhut.