The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-28
yoLKszEITUNG,s AFFAIRS.
Judge Lewis Considers the Motion
to Discharge the Receivers.

The hearing of the application of AL
bert Scheffer and others for the dis
charge of the receivers of the Volks-
Zeitung took place yesterday afternoon
before Judge Lewis. There were pres
ent Attorneys G. NJ. Nelson, represent
ing Albert Scheffer and the other petit
| tioners; Otto Kueffner. representing
| the receivers, Albert Schaller and
| Hiram D. Brown; Mr.. Taylor, of Hub
| bard & Taylor, representing Edward
| Tietz, one Of the dissenting creditors,
and Walter Chaplin, who appeared In
| behalf Of other dissenting and unse-
| cured creditors.
| Attorney Ne'son stated that the prop
| erty Of the company was mortgaged,
| the bonds being held by various parties
| as follows: Alemannia bank, $500;
Standard Paper company, of Miiwau-
kee, $1,000; Adam Decker's estate, S7Oo;
Brown, Treacy & Co., $500. Mr.. Nelson
| said that 1t was desired to so arrange
matters that the unsecured creditors
| might be paid, which could not be done
| If the chattel mortgage was foreclosed.
1t was proposed by the company to
| either pay the dissenting creditors in
| full, or in case there were any dis
| putes as to the amounts of certain
| claims the money might be deposited in
| court to await adjudication.
Mr. Nelson in support Of the applica-
| ton for the discharge Of the receivers,
said the most valuable asset Of the
Volkszeitung company was its fran
| chise, and that the affairs Of the COM
pany could not longer remain in charge
| Of the receivers with profit to the COM
pany Mr.. Nelson referred to the libel
| suit brought by Edward TietZ against
the receivers to recover $4,000 and
contended that the suggestion that thu
| VolksZeitung company be substituted
| for the receivers as parties defendant
| to the libel suit, could not be complied
with. %l
Attorney Kueffner then read the an
swer Of the receivers in which the lat
ter declared in effect that they objected
! to being DISCHARGED, unless provision
was made to amply secure them agains
any liability arising out of the Tietz
| libel suit or any act or acts heretofore
| performed by them.
Attorney Taylor on behalf Of Edward
| TietZ objected StrenuOusly TO any or
| der of the court discharging the re-
| ceivers on the ground of the pending
| libel suit instituted by his client against
| the receivers. Mr.. Taylor objected to
! any change in the situation that would
| PLACE the parties in q different posi-
| ton or relation than at present exists.
| Counsel read in this connection an aff1-
| dayit by Col Tietz, which reciteS that
an action is also pending in which the
receivers are plaintiffs and the bond
holders defendants to determine the
validity Of the chattel mortgage. which
| is alleged to be void. The affidavit also
charges Col Scheffer with conniving
to secure the abandonment of the latter
suit, and to get himself elected presi-
| dent of the company.
Receiver Schaller informed the court
| that the receivers were not DESTROYS Of
retaining the property and MANAGEMENT
Of the company, but they did insist
upon a sufficient protection and in
IDENTITY in case they yielded possession
of the property to secure them against
any personal liability.
Judge Lewis announced that he would
take the matter under advice until 2
D. m. today. In the meantime 1t is I'M
| derstood that parties in interest will
confer together with view of uniting
upon some satisfactory plan.