The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-08-31
IN THE HANDS OF THE COURT.
RECEIVER APPOINTED FOR CHRIS
TOPPER GRAY & co.

New York Creditors With the Ma
tionaI Bank of Savannah Claim
About $4,000 Ipdebtedness-The
Stock From the store in Augusta
To BE Brought to SaVannah-NIaX L..
Byclx Appointed Temporary Re
ceiver-Went to Augusta Last
Night to Take Charge of the Stock
There.
The stock of dry goods and accounts of
the firm of Christopher Gray & Son here
and in Augusta was placed in the hands
of a receiver yesterday by Judge Robert
Falligant, upon application of II. B. Olaf
lin & Co, of New York and others The
petition was filed by Messrs. Garrard,
Meldrim & Newman, representing the
creditors, shortly after . o'clock.
Mr.. Max L. Byck was appointed tenn
porary receiver of the property and at
~once took charge of that in Savannah, CIV
ing bond in the sum of $4,000. He left
the city last night with the necessary
papers empowering him to take charge of
the stock and property in the Augusta
store, which will eventually be brought
to Savannah and sold here along with the
other goods.
The different creditors in whose names
the petition is brought and the amounts
claimed by each are as follows: H. B.
Claflin & Co, $5,127.91; James II. Durham
& Co, SS992.99; Durham, Buckley & Co..
$l,S242S; Teht, Weller & Co, $lS69.SS; the
National Bank of Savannah, $4,000.
Besides these creditors there are two
other plaintiffs, Robert G. Gray and Louis
Gray, sons of Christopher Gray, deceased,
and brothers 10 those who until now have
been conducting the business. They join
in the petition on the ground that they
have made application to the executors of
the estate to close it up, and they have re-
fused to do so.
The petition is brought against the firm,
against Christopher Gray James NJ. Gray
and Edward Gray, as executors of the
estate of Christopher Gray, and against
them as individuals. and sets forth, first,
the amount of Indebtedness claimed by
each of the petitioners. 1t then gives
schedule of the estate left by Christopher
Gray, as follows: A mercantile business
here and in Augusta, a lot with improve
ments in Augusta, lot and improvements
at No so South Ninth street, Brooklyn,
NJ Y, fifty shares of the capital stock of
the Southern Bank, twenty-seven shares
OF the J. P. King Milling Company of Au-
gusta, and a two-thirds interest in q
large number of other stocks.
The petition states that the stocks and
some other property are pledged in New
York for loans amounting to $4,000 while
the real estate in Augusta was conveyed
to the Planters Bank of that city to Sc
cure loan of 1850. 1t is alleged that
there is also an Indebtedness of 81, $50 to
the city of Augusta for taxes.
Christopher Gray provided in his will
that the mercantile business should be
continued by his executors for five years,
after which time they were to wind it up
to the best advantage and carry out the
terms of the will.
The belief is expressed In the petition
that to continue the business longer would
prove disastrous. 1t is stated that the
executors were asked on this account to
wind up the affairs of the mercantile bust
ness, but have failed TO do so, and have
been running IL for some time at loss.
1t states that they can secure no more
credit and are now wasting the assets.
They are liable to the petitioners indivldu-
ally as well as in the capacity of executors,
1t is ALLEGED. and it is claimed unless some
relief is granted the interests of the credi-
tors win suffer.
The petition asked that permanent re-
cever be appointed to take charge of the
stock and book accounts and dispose of
them for the benefit of the creditors, I'M
der the direction of the court. An order
TO this effect was granted, Mr.. Byck be-
ing appointed temporary receiver. The
case will come up for a hearing on Satur-
day as to whether the recelvership shall
be made permanent.
The order also directed the receiver to
proceed to Augusta and take charge OF
the stock there Ii is stipulated that this
stock shall be brought TO Savannah and
disposed of along with the stock here, the
belief being that better results can be OBJ
tanned in this way In the meantime, the
executors are restrained from continuing
the mercantile business and are enjoined
from interfering with the property in any
way.