The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-27
KELLY on HIS FEET
INSOLvENT PIONEHsR~GR 0GHR SEES
HIS OLD ESTABLISHMENT
soUNDLY. REORGANIZED.
ASSIGNEE rs DISCHARGED
AS IS-THE ASSIGNEE OF PATRICK
HI. kEI.LY,S Personal
ESTATE.
FOLEY BROTHERS TAKE. PART
In the Rehabilitation of the Veteran
Grocery .Jobhing. House Which
Failed Last Spring.

The negotiations looking to the re-
organization of the p H. Kelly Mer-
camille company, which have been go
ing on for some time came to, sue
cessful termination late last evening
before Judge Otis. F. B. kellogg, of
the firm of Davis, Kellogg & Severance,
accompanied by P. H. Kelly. Anthony
Kelly, of Minneapolis, and John F.
Meagher, the assignee, held an extend
ed session in Judge Otis chambers
yesterday afternoon, and at $50 O'Clock
the. judge signed the order discharging
John F. Meagher and Walter B. Jor-
dan, the. assignees for P. H. Kelly AMI
the P. HI. Kelly Mercantile company.
respectively. $685.. ..-. 81. s
Mr.. Kellogg stated to the judge that
Il was the intention to turn the prop
erty back to p. H. Kelly, and that gen
tleman, with Michael, John, Thomas
and Timothy Foley, would reorganize
a stock concern. The attorney, in pre-
senting the petition, stated that An
thony Kelly, of Minneapolis, a brother
of P. H. Kelly, had bought up and Sc
cured the claims against the assigned
company to the amount Of over $170, 900
with the understanding that the court
would discharge John F. Meagher and
Walter B. Jordan, to whom the as
s1gnment had been made In March last.
Judge Otis hesitated about making the
order discharging the assignees, but
Harris Richardson, who had been ap-
pointed to go. over the schedules, sub
united report to the court to the
effect that he had carefully examined
the schedules and found that every
thlng was as represented by Mr.. KEEL
losg. Anthony Kelly, who had bought
up the claims of the creditors, also
submitted schedule showing that he
mad settled with creditors to an amount
of over $4,000 and the affidavit Of
Walter B. Jordan, assignee of P. TT
Kelly, together with schedules showed
that the balance of the amounts die
to creditors, Of which he had charge
was also paid. This satisfied the court
that all the interests and claims al
lowed by the assignees had been paid
ana the order discharging them was
signed The schedules and orders will
be filed with the clerk of the court
on Monday, as at the time the legal
evening the office of the clerk had been
closed
At the time the assignment was
lia9e the. liabilities of the concern, in
Guiding the P. H. Kelly Mercanti1a
company; We're 1897 900, and John r
Meagher and Walter B. Jordan vvara
made the assignees, Mr. Jordan heinz
the assignee of p. H. Kelly. The cred
ltors, Mr.. Kellogg stated Iast eveninp.
nave been paid on the basis of sixfv
cents on the dollar, Anthony Kelly. or
Minneapolis, and other friends having
made the reorganization possible. OF
the amount paid the creditors ANTHONY
Kelly advanced $4,000
The Kelly concern is one of the old
est houses in the Northwest and under
the direction of the assignee during
the greater part of this year the bust
ness amounted to nearly a million and
a half of dollars.
Mr.. Kellogg said last evening that
the Foley Bros would put in the re-
organized company a large sum Of
money, and this, together with what
Mr. Kelly would contribute. would
form stock concern. The Foley Bros.
would have-fhe controlling interest in
the company.
The gentlemen who are to be the
backbone of the new company are self
made men and came from Canada. to
Minnesota year ago and located at ST.
Cloud. At that point they began a gen
eral contracting business and are now
counted as among the most substantial
business men in the state. They have
extensive pine and numbering interests
at various points in the Northern part
OF the state. In addition to this line
OF business they are interested in
Touring mills and general stores
throughout the state. Timothy and
Michael Foley live in st. Paul having
removed here from st. Cloud while
John and Thomas are the principal
owners of the German American bank
at st. Cloud, where they reside.