The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-04-25
RECEIVER WANTED
Charles Baker Com
pany in Meshes of
Litigation.
CREDITORS STEP IN.
Banks Take a Hand in
Fight With Baker
Ricketson Co.

Charles Baker Company, one of the old
esq business establishments of
the city, was asked for in the
superior court before Judge Hop
kins. yesterday afternoon. The petit
toner in the case was the City National
Bank which, with the Citizens Nation
al Bank and the Mechanics National
Bank, are interested in paper Endorsed
by the Charles Baker Company.
After the petition praying for the re-
ownership had been read, the Charles
Baker Company, through it's counsel,
gave its approval of the action sought
of the court and the fate of this old
company hangs upon the decision of the
court. which will be announced this
morning. The liabilities of the COM
pany are set at 100000; its assets at
$150.000
The tide of fortune against the Chas.
Baker Company came yesterday, when
the Baker Ricketson Company placed
an attachment upon the Charles Baker
Company's property for $25, 900, and in
stalled a keeper there. This attach
ment was upon a bill in equity filed at
the superior court in the morning, to
secure an accounting of the business
transactions between the Baker Ricket-
son Company and the Charles Baker
| Company.
The banks which held the paper of
the Charles Baker Company immedi-
ately got wind of the predicament, and
late in the afternoon the City National
Bank as first petitioner filed the bill
in equity in the superior court pray
I ing for the receivership to secure the
/ interests of creditors.
! The trouble began some days ago,
! when the Charles Baker Company
placed a heavy attachment upon the
! property of the Baker, Ricketson Com
pany, to secure rent of premises occu-
pied by the latter, and for materials
/ furnished the concern by the Charles
Baker Company. Charles Baker is
/ treasurer of both the Charles Baker
Company and of the Baker icketson
Company, of which E. B. Ricketson is
the president.
The bill in equity as brought by the
City National Bank against the Chas
Baker company, is to recover money
borrowed until the affairs of the COM
pany could be Strengthened out from
the bringing of the suit by President
E. B. Ricketson of the Baker Ricket-
son company on a claim against the
Charles Baker company but as to which
the latter concern states that there is
no foundation. With the legal diff
culties to contend with, arising from
the attachment upon the property and
the placing of a keeper in charge to
the interruption Of business, the con-
Germ has been unable to meet its obll-
cations as they became due. 1t is
claimed by the firm that if a receiver
is appointed, the business will be con-
Quoted by him until the affairs can be
Strengthened out.
The three banks mentioned hold the
company's paper to the amount of $780,
600, while other creditors bring the LA
bilities to about 100000 The other
creditors outside of the banking insti-
tutions of this and other cities, who
hold the Charles Baker company's own
paper, are people who have furnished
stock to the company. Blackmer &
Vaughan, counsel for the company,
stated that the assets are about $780,
900. The particular note on which the
suit is brought is for a small amount.
The name of George A. Smith, cashier
receiver. was opposed by Law
yer Mellish as being one of the in
terested parties, and he proposed the
name of Charles A. Vaughan, as being
familiar with the lumber business.
President Dewey, for the Mechanics
National Bank, approved the appoint
ment Of Mr.. Smith, and then the court
LUX the case ulOeI amusement, an
nouncing that he would reserve his de-
cision until this morning.
The case Of the Baker Ricketson
Company brought by Lawyers Frank
P. Goulding and William C. Mellish
against the Charles Baker Company,
which was the beginning Of the legal
battle of the day is q bill in equity to
secure an accounting of the dealings
between the Baker Riketson company
and the Charles Baker company. The
Baker Ricketson Co. was incorporated
with a capital stock of $4,000 in 1898
with Charles Baker of the Charles
Baker company as treasurer, and E. B.
Ricketson as president. This company
has furnished builders finish to the
Charles Baker Company. The attach
ment to secure the claim of the Baker
Ricketson company was for S25OOO
and a keeper was placed in charge
Another phase in the case was the
serving of two replevin writs upon the
Boston and Albany railroad by Deputy
Sheriff James Early, upon stock con-
signed to the Baker, icketson Com
pany. one writ being in favor of the
Handy Bent Spring Company, and the
other in favor of the Pittsburg Plate
Glass Company. On the first writ Dep.
uty Sheriff Early secured whole car
load of goods, which had been ordered
by the local concern of the Handy Bent
Spring Company, and the other writ
covered window glass alone.
Frank p Goulding, William c. Mel
fish appear for the Baker Ricketson
Company, Blackmer & Vaughan for
the Charles Baker Company, and T.
lot r,ran