The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-11-30
L. B. GRAY And
7. G. CULVERHOUSE
Appointed to Succeed james 4. Bart
lett as Receiver Of
CORONA COAL & COKE CO.
Decree Was Handed Down by ChanCel-
lOr Carmichael Yesterday.
CORONA COAL & COKE co,
RECEIVERS BOND FIXED AT $75,0 900
Removal Was Made on the Petition of
G editors in the Case of Jaa--
per Town and Lands Co.,
Limited, VS.. Davidson.


Chancellor Carmichael yesterday rem
dered his decision in the matter OF the
Corona Coal and Coke company, ordering
the removal of james II. Bartlett as re-
ceiver and appointing Henry B. Gray and
T. C. Culverhouse, of this city, to succeed
him.
The petition for the removal of Receiver
Bartlett was filed by the McMian-Lee
company and other creditors of the COM
pany, in the case of the Jasper Town and
Land company limited, of London, Eng
land, VS.. NJ. M. Davidson, which was ar
gued and submitted some days ago.
The decision is u decided victory for the
American stockholders of the English cor
poration, who have been at war for some
time with their English cousins, notwith-
standing the AngloAmercan alliance.
The Decision
In rendering his decree Chancellor Car
michael said substantially as follows:
After hearing the evidence the court is
of the opinion that James II. Bartlett is
interested in the subject matter of this
litigation by reason of the fact that he Is
the accredited American agent of the Jas
per Town and Lands, limited, a corporation
existing under the laws of Great Britain
and Ireland, and that said company is the
holder and owner of four-ffths of the cap
ital stock of the Jasper Land company,
which is, or claims to be, the creditor of
the Corona Coal and Coke company to the
amount of about 100000, and that said
claim is sought to be fastened in this cause
as a first lien upon the assets of the Corona
solra
of Wallis & CAREY, representing the
minority stockholders.
THAT James H. Bartlett acting or ella M
ing to act for the said Jasper Land COM
pany, instituted in its name a suit in the
ehancery court of Walker county on April
s, 1898, and by said suit sought to fasten
claim of $13S,000 and interest thereon as
a len upon the property of the Corona
Coal and Coke company and was himself
appointed in said suit receiver of all the
property and assets of the Corona Coal
and Coke company.
Competing With Himself
'It further appears that the said James
H. Bartlett is managing director of the
American association, Incorporated, and
that this association is the owner of four
coal mines in the state of Tennessee and
that the output of said mines last year
charged with directly seeing that said
property is managed and worked to the
best advantage and profit and that said
association is a competitor of the Corona
Coal and Coke company and of the
ceiver of same particularly in the markets
of Georgia, North Carolina and South Caro-
lima.
"It further appears that the said James
IT. Bartlett is not resident of the state
of Alabama, but of Middlesboro, KY,
point far removed from the Corona mines
and that 1t further appears that there Is q
deep antagonism between James f. Bart
lett and some of the creditors of the Cor
ona Coal and Coke company which in the
opinion of the court will cause long and
continued litigation. That Bartletts ac-
counts filed in the court are badly confused
and failed to show whether he has operated
the mines at a profit or loss"
Order of Removal
After reciting the fact that the Corona
Coal company own property to the amount
of 1926, 900 to 100000 against which there
are claims aggr <gating about $229,OOO, the
chancellor gives as his opinion that the best
interest of all parties concerned will be
subserved by the removal OF Mr.: Bartlett
as receiver which is ordered-Messrs.
Henry B. Gray and T. G. Culverhouse to
succeed him. The new receivers are re-
ouired to make bond in the sum of $75,o0o,
which shall be approved by the register
Mr.. Gray is president of the Peoples
Savings bank and Mr.. Culverhouse was for
merly assistant general manager or the
Sloss Iron and Steel company. The new
receivers filed their bond yesterday after
noon which was Immediately approved,
and they will take charge today. Judge
7. 7. Banks, Frank s. White, X. H. FEAR
son and Alex r. London represented the
petitioning creditors.