Evening journal., 1896-04-10
HEALD CREDITORS MEET
Report Of Committee on Ex-
animation Of Securities
SHOWS THE WRECK TO BE ABAD ONE

Tho Indebtsdn ess OF the Firm over Three
Hundred Thousand DoiIars-Assests. In
elusive OF Equities, Twenty Thousand.
General Debts, one Hundred and rhirtr-
seven Thousand-The Property Not
self-supporting.
An adjourned meeting OF the creditors
Of tho la'e irm Of Heald & Co., was held
at 2 30 o'clock yesterday afternoon In the
assembly room In the Heald building,
Seventh and Market streste, with John
IS Russell In the chair. Ga motion
George s. Elliott was chosen TO act as
secretary.
The chairman stated that, acting under
authority OF resolution passed at the
last meeting, be had appointed as
special committee from the creditors, to
examine the report presented bv the
asslgnees the following: Allen Hilles,
lAndlsy O. Kent. Joseph A. Richardson
and Howell \. England
The report OF this committee wa1 sub.
mitted as fnllows:
To the creditors OF HeRld q 90.
The undersigned, committee appointed
pursuant to resolution'adopted at your
meeting on April A, 1896. beg leave to
report az follows.
The committee has examined the
several statements prepared by the
assignees showing the condition Of the
accounts OF the late firm. aud has advised
fully with the assignees respecting tue
estate, its condition, and prospect Of
keeping Il together aud managing IL for
the benefit OF the creditors
The entire ascertalned indebtedness
OF the firm appears to be $201 532 49,
It Is estimated that this amount will bs
augmented by loss through contingent
liabilities, OF at least fiS 900, and inter
est is acorulng on the greater part OF the
debt. 30 that it will doubtless excsed
1910 600 In round numbers before final
settlement.
.''rhe total appraised and estimated
valuation OF property OF the frm pleged
Is $lS2 600 From this amount there
would probably arise about fli 600 In
equities. In specific cases. which would
be applicable to general debts The
assets OF the firm. inclusive Of the above
equities, which may be converted to meet
the general debts, are estimated at
SEQ. 600.
'rhe general debts amount to about
/ 1922 600. 90 which must be added tue
insufiisiency OF collateral This would
make the total debts. particlp atlng In
the distribution Of tho above mentioned
$50 600 about fl37 600. IL Is OF course
doubtful whether the equities will be
fully realized aud 10 must also be borns
ia mind that the above amount Of SEQ
600 Is subject 20 deductions for charges
and espsuees In settling the estate
tn regard TO The advisability OF car.
rylng some Of the properties In the hops
OF realizing better results In the future,
the COMMITTEES is unanimous IN the
opinion that Il would be to the ad vantage
OF the creditors TO close the estate as
soon as the assignees deem 10 practicable
% do 20. The property, as a whole Is
not self supporting. aud the fixed charges
would make 10 necessary TO raise a con-
siderable amount OF cash II the estate
should he kept open
Respectfully submitted,
'JoHE s. RossELL,
IT. ALLEN HTLLEs,
"JosRPH a RICHARDSON.
HOWELL 3. ENGLAND,
Committee
April o, 1896
This report was read and a discussion
followed as to the securities
Lindley y. Kent said that the interests
In the Gordon Heights property could
not be realz on 40 present
o ho Nowiand. on behalf OF the as
sRnees, reported having investigated
the claim against L Il Taylor q Co and
reported that the assignees Of L. a Taylor
& Co were asking for time TO make
settlement Also that not more than
per cent could bs made out Of the claim
n settled st once. The report was
adopted.
William NJ. Candy moved that the
COMMITTEES be requested TO continue its
work, for The purptsl Of advising with
the assignees aud calling a meeting Of
creditors when necessary. William w.
CANDY was added TO the advisory COM
mlttee 10 place Of James p. Winchester
who bad declined TO act
A ID. Warner suggested that In case a
public sale be decided upon, notices OF
such sale and a complete list of proper
ties b mailed to each creditor. This
was adopted aud the meeting adjourned
sui sot to call Of the committee.