The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-01
TO GUST RECEIVERS
JUDGE GRosscUP WILL HEAR Ar
GUMENTs AT CHICAGO SATURDAY.
Order Entered Restraining Grccnhut
Properly OF the whisky Trust.

preventing the Whisky Trust receivers from
taking any action in the proceeding under
which they were appointed will remain in
force until Saturday morning. Judge Cross
cup entered the order yesterday, and sx-
pected to-day to hear arguments on mo-
ton to Dust the receivers. On account Of
the gravity of the situation the court an
nounced to-day that the motion
would not be taken I'D until
ing order entered yesterday to remain in
force until decision is reached on the mo-
ton set for argument Saturday.
The conflict presents the paradox OF the
attorneys for both sides of the COM
bat expressing extreme satisfaction with
the status of the case. Each
party claims it is in the right. and
has received all it asked for. When Judge
Grosscup opened his court to-day there was
present attorney Runnells and BURY, rep
resenting the receivers; Levy Mayer. for
tho petitioning stockholders committed: 0.
Peckham, for the Shufeidt distillery, and
attorney Eddy, for Nelson Morris. Tho
court made the following statement:
Through their attorneys certain stock
holders OF the Distilling and Cattle Feeding
Company represented TO me. in the presence
OF the president and attorney OF the COM
pany, that the company was insolvent, and
that S7,00O,000 debt would soon fall due,
pany was placed in the hands OF a court OF
equity for operation, the funds of the COM
the loss fall on the stockholders. The sit ar
ton as set forth in the bill was one that
demanded immediate action. TO publish to
the world the complaint would defeat its
very object. Apparently the protection OF
the court was necessary. The president OF
the company did not combat the representa-
ton, and the receivers were appointed
"A petition is now on file from other
stockholders. representing that the first bill
IN erf4f
of the stockholders, and claiming that the
president had no right or authority 70 sur
render the company in such manner. 1t
is further stated in the petition that at the
time the receivers were appointed a COM
plan for the rescue of the corporation and
the raising of the necessary funds, and that
this plan was frustrated by the appoint
ment OF the receivers. Under these circum-
stances the petitioners ask that the court
hear them on application for the removal
case the court should inquire into the facts,
and / will set Saturday morning FOR the
hearing of the petitions Of the stockholders
I shall ask the attendance in person of Mr.
Runnells and Receivers Greenhut and Law
renee
Mr.. Runnel1s bowed and attorney Levy
Mayer, representing the anti-Greenhut par
ty, jumped up and asked that an order be
entered restraining the receivers from dis
posing of any Of the property or funds OF
the company. Mr.. Runnells did not object
and Mr. Mayer handed a typewritten order
to the court which he wished entered. The
court glanced over 1t and Mr.. Runnells
asked to see ii. Having read it. he OBJ
jected, and the Judge seemed doubtful
about entering it, but Mr. Mayer wished to
leave 1T with the court. who should modify
it as he saw fit Mr.. Mayer asked that all
officers of the company be required to APP
pear in court the same as the president,
without subpoena. but the court de-
clined TO so order Mr.. Mayer further asked
for permission to examine books and ac-
counts but the court thought no order was
necessary, saying the books of such COM
panieS were always open to stockholders.
The question of the restraint on the receiv-
ers was taken up and it was agreed that
ated as usual Attorney Peckham wanted
to know II the Shufeldt could discount its
paper as usual up 70 Saturday but the
that the receivers did not quit feeding the
cattle that the company has been taking
BURY say their chests are actually the re-
ceivers of the company and that they are
perfectly satisfied with The state Of the
says that Greenhut and Lawrence are re-
ceivers in name only, and that to make
turned over to them formally by deed.
At the conclusion Of court Judge Grosscup
receivers from doing any thing save to to
conserve the property until after the hear
ing on Saturday morning. He further or
holding duly assigned certificates of stock
OF the date of the appointment of the re-
CelVefS una pf1Or thereto snail nave access
to the books, documents and papers of the
Distillfng and Cattle Feeding Company for
INSPECTION, either by themselves or their
counsel under such reasonable supervision
as viii insure the security of such, and that
on The application of such Stockholders or
their counsel for the production of such
books, etc., in court at the 1.ear.ng herein
assigned the same be produced without
furt:ls~ er of this court It is further
order =, the intervenors have such sub
poem m the court as may be neces-
sary 4cure the attendance of such wit
nesse- as they may desire under the usual
conditions relating to subpoenas."
Not only is the Whisky Trust tied up In
the United States Court. but it's books and
accounts are to be made the subject of a
searching Investigation For the purpose
of the investigation two expert accountants
and the New York counsel for the stock
holders tonight left for Peoria, the head
quarters of the Trust. where. by virtue OF
order made by Judge Grosscup they
will go over and check up the reports of re-
ceipts and expenditures since 1893. and fur
Their back if it is deemed advisable. De-
velopments of some importance are expect
ed as a result of this work. The results OF
the investigation will be tabulated and
brought back to Chicago to be used as evil
dence in the hearing for the removal OF re-
ceivers Greenhut and Lawrence, set before
Judge Grosscup for Saturday.
T-A-n nue<s~ nwA~.