The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-19
TRYING TO COMPROMISE
MIR. REYNOLDS's RELATIVES COMING
TO HIS ASSISTANCE.
Investigation of the Grocery Con-
GERMS Affairs TO Be Postponed
Pending Negotiations.

A conference between the attorneys in the
Krag-Reynolds litigation took place yester-
day afternoon in the private chambers of
Judge Allen, of the Circuit Court The con-
ference was precipitated by the affidavit of
Assignee Reagan, filed with the court Mon
day afternoon. requesting that the books
of the insoivent grocery firm be invest-
gated, and the members of the firm, with
preferred creditors and others, be exam
ined under oath as to the alleged fraudu
lent transfer of certain property prior to
the firms assignment.
The attorneys for the Krag-Reynolds
Company were present to ask the court to
postpone the investigation, which was set
down for tomorrow. The attorneys informed
the court that an effort was being made to
effect a compromise with the creditors of
the Krag- Reynolds Company and the pur-
pose in asking a postponement of the off,
cial examination was to give the litigants
time in which to reach this settlement. The
attorney for the assignee and receiver
stated to the court their willingness for
postponement of the investigation if the
creditors were willing to accept compro-
mise He said, however, he would not put
off the investigation unless it was shown
that the creditors would be benefited by
the compromise. AT the conclusion of the
conference it was understood the examina-
tion would not come up tomorrow. Judge
Allen said later in the evening that
the investigation would be put off
until some time in February. Among the
attorneys present at the conference were
John l.. Grittiths, r. o. Hawkins and +. T.
Hord, representing the Krag-Reynods
Company, and VIM. Il. Brown Lewis G.
Walker, Louis Newberger and A. G. Ayres,
representing the assignee and receiver
Among those mentioned in the affidavit
OF the assignee and alleged TO know some
thing about the transfer of property made
by the krag-Reynolds Company was the
law firm of Griffith d Potts and Miss Mary
Brown, a stenographer in the employ of the
hrm Mr. Potts said yesterday evening that
himself and Mr.. Griffiths were not called
into the litigation until several days after
the assignment, and, although they now
representing the insolvent firm, they know
nothing about its affairs at the time the
alleged transfers We're made. Miss Brown,
the stenographer, Mr.. Potts said, had no
knowledge OF the Krag-Reynolds matters
until her employers became the attorneys
for the firm.
1t is understood from the attorneys that
relatives Of Mr.: Reynolds have come from
Dayton, o., with view to assisting in
some kind Of a settlement with creditors.
They are willing to aid the insolvent firm
financially If IL is seen that compromise
can be reached. 1t is understood that
particular effort is being made to look after
the unsecured creditors. 1t was stated yes
terday that an effort would probably be
made to reorganize the Reynolds
Company and revive the coffee branch of
the trade. Wallace Krag, one of the mem
bers of the company, has lately been East
IN the interests OF this plan. His attorneys
say he has met with some encouragement
VIM A. Krag, as vice president of the
hrag- Reynolds Company, yesterday filed a
sworn statement with the secretary of
state, testifying that all the preferred stock
of the concern, amounting to $4,000 face
value, had been redeemed by the corpora
ton on Dec. q, 1897. This is the stock that
was held by Nicholas McCarty Harrison
and A. b. Gates. The statement filed by
Mr.. Krag was not signed by Charles NJ
Reynolds and VIM. W. Krag, the two other
directors of the company.