The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-08-15
PUT IN A RECEIVERS HANDS.
SENSATIONAL CHARGES AGAINST
CHARLES II. DIXON & co.

Judge Speer Upon Application of
f. BOrda & Son and Charles ID.
Norton & Co., Coal Dealers of
PhiIadeIPhia-The Receivership
Against Assignee Law, Mr.. j. VI.
Dixon, Mrs. Amelia Dixon and Mrs.
Mary j. DixOn-The Case to BE
Heard Before Judge Speer Sept. IL.
Mr.. Albert WILLY has been appointed
receiver for C. H. Dixon & Co. The re-
ownership Is under proceedings brought
in the United States Courts by E. Borda
& Son and Charles d. Norton & Co., coal
dealers Of Philadelphia and Is the result
Of suits against Dixon & co in the City
Court some time ago TO recover for coal,
and the subsequent assignment of the
the firm. The appointment of receiv-
er was made by Judge Speer at Mount
Airy.
The application is against c. H. Dixon
& Co., Mrs. Amelia Dixon, Mrs. Mary
J. Dixon and Mr.. C. F. Law. who was
Dixon & Co.'S assignee, and contains
some pretty sensational charges.
AS a result of the suits in the City
Court judgments were rendered against
Dixon & Co. inNfavor of Borda & Son for
something like S12, 600 and in favor of Nor
ton & Co. for about $1,000. When the
sheriff endeavored to collect the judg-
ments he could find no property to levy
on.
1t is charged that Mr.. c. H. Dixon, who
was ne sole member of the firm of Dixon
& Co., disposed of his property in such
a way as to place it beyond the reach of
his creditors. Two years ago, it is stated
in the application for receiver, he SUBJ
mitted to Bradstreet's an inventory and
valuation of his assets and liabilities.
His assets at that time were put at $50,
600 and his liabilities at $780, leaving his
net worth $4,000. A similar statement
was made to Dun's.
At the time of his failure last spring
Mr.. Dixon's statement to his assignee
showed $4,000 assets and $55 900 liabilities.
From this it appears there was a loss of
| nearly 100000 in two years. This loss, it
is claimed was not through the accumu-
latton of bad debts, nor through stock be-
coming unsaleabie or deprecialing in value
nor through fire, nor from any extraordl-
nary cause. 1t does not appear to have
been through business reVerses. At the
same time, it is stated his stock was ac-
cumulating, and the presumption is reach
ed that his sales must have been large,
since the stock was considerably smaller
at the time of his failure than at the time
his statement was made to Bradstreets
and DUn's. The loss occurred during the
year preceding his failure. 1t is charged
that the entire business done during that
time was not much larger than the Joss
of assets.
1t is charged that prior to his fall
ure Mr.. Dixon transferred all of his real
estate and loan association stocks,
amounting 10 about $40 0C0, to various peo-
pie. His Wilmington Island property he
transferred to his wife in consideration of
love and affection, three lots, valued
at $3.50, he transferred to his brother. Mr.
). NJ. Dixon, for an alleged consideration
OF $500; and also his wharf property, val
ued at $4,000, for $4,000. His residence. on
Ian street valued at $23, GEO. he transfer
red TO his mother, Mrs Mary ]. Dixon.
Tor $3.50 and the assumption of a So, 600
mortgage. lie Is also claimed to have as
signed to his wife $4,000 of life insurance
made payable to his estate An exanina-
ton OF his books, It Is claimed, shows that
! none or the returns from the sales of prop
! erty ever went into the firms business. or
| II Il did, it was Immediately taken ont
! ana disappeared, so that in effect the
4 transfers of property caused the dtsan
4
| The payment of money alleged 10 have
! been made by relatives in consideration
| Tor property transferred, it is charged
| dld not go to pay off bills and did nor In
any way reduce his debts, but only served
! tHe purpose of putting one asset after an
| otner, out of reach of his creditors. I'M
| III all OF his property other than his stock
! OF coal and his business equipment was
! absorbed and entirely disappeared The al
| leged loans of money by his relatives it
Is charged, were at time when his sales
! OF coal were the heaviest, his cash receipts
largest ana the necessity of borrowing
money least apparent.
IL is charged that during the year pre-
/ ceding his failure Mr.. Dixon's purchases
/ OF coal were three or four times larger
! IMAM IN any previous year. These Dur-
! chases, II is claimed, were made within
| SIX months preceding his failure and dur
/ ing that time and for some time before the
| greater part Of his purchases were made
on time aud remained unpaid at his failure.
| 1t is also charged that within The six
months before his assignment Mr. Dixon
! sold soal at considerably below what il
| cost him. His sales at these low figures de-
4 moraliZed The market-not only i'm Savan-
nah, it is claimed. but in neighboring cities
! where he operated. In this way he ran up
accounts with his creditors to over 500
! 600 These he turned into cash which. It
is claimed, totally disappeared from the
] business. inns was on anthracite coal
/ alone His purchases of other coal on
credit, ran up 10 over $4,000, unpaid fer
! at the time he failed. The profits on this
coal, it is also charged. disappeared
II is charged by Borda & Son ana Nor
| ton & Co. that exclusive of the money
| claimed by Mr.. Dixon TO have been re-
| ceved by him as the consideration for
the transfers of real estate, he has now
in hand unaccounted for $4,000, or there
abouts, the exact amount being unknown
| by reason of the fraudulent manner in
which he covered up his transactions. 1t
is also charged that he so changed his
method of bookkeeping during the year
before his failure that the entries do not
show the true nature of his transactions
In their application for a receiver.
! Messrs. Borda and Norton charge that az
| ter establishing his credit through state
ments 10 the commercial agencies and in
other ways, Mr.. Dixon determined to
make a short cut to fortune by making
use of his credit to purchase large
lr,.,, 90 aIe