The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-12-19
RECEIVER MADE PERMANENT.
DIR. JOHN ID. CARsWELL To MANAGE
THE GUARDS AFFAIRS.

His Previous Temporary Appoint
ment Confirmed by Judge Sea-
brook, Who Vests Him With Large
Discretion in the Management OF
the Corporation-The Penn Mutual.
the Holder of the First Mortgage
Bonds, Acquiesced In the Appoint
ment and wished the Receiver
God Speed-Property to Be Rented
to the Party Making the Most Adj
vantageous Offer.
AT hearing held at noon yesterday,
Judge Paul E. Seabrook appointed Mr..
John D. Carswen, permanent receiver of
the Savannah Volunteer Guards Battal-
ion, with its property and assets of every
description. MIR. Carswell was the tempo
rary receiver appointed in the first in
stance, so that yesterdays order is but
confrmatory and in accord with what had
been expected and desired by the officers
and men OF the corps
The hearing was held in private, in the
Offices of Messrs. G. T. & ]. F. Cam,
counsel for the Oglethorpe Savings and
Trust Company, the trustee for the sec
ond mortgage bondholders, and the petit
tioning creditor in the application for a
receiver. There was no opposition to the
appointment of Mr.. Carsweu as perma-
nent receiver all interests concerned in
the pending litigation being united in the
belief that he is the right man for the
place. The receiver has long been num-
Der of the board of governors of the club,
and is therefore thoroughly familiar with
the management of the property, and the
best available methods of making it
financial success.
At the hearing the counsel for the Ogle-
thorpe Savings and Trust Company SUBJ
mitted to Judge Seabrook a letter from
the Penn Mutual Life Insurance Company,
the holder of the first mortgage bonds of
/, the battalion, in which it was stated that
the company did not oppose the appoint
ment of Mr.. Carswell as receiver, nor the
efforts now being made to place the corps
on firm and satisfactory financial basis
but on the contrary, cordially approved
both the one and the other, and would do
all in its power to advance the scheme of
reorganization, and assure the ultimate
satisfaction of the demands of all the cred
| itors.
The receiver is directed to take charge
VI AAC real piOptItgs COhSlSllilS Ol TIE lois
of land and the building thereon, situated
at the corner of Bull and Charlton streets,
and the personal property of the organiza-
| ton, with the exception of the pictures,
war relics, trophies and the military arms
and accoutrements of the battalion. He is
instructed to rent the property in his dis
erection, on the most favorable terms Of
fered.
A small amount of club supplies, remain
| ing in the hands of the receiver, are to
be disposed of promptly. The club feat
ure of the organization has been for some
weeks discontinued, but at that time some
| supplies remained. These are to be sold
by the receiver He is instructed also to
collect the arrears due by the members.
The fund thus accruing in the hands of
the receiver is to be applied first to the
payment of the premiums on the policies
of insurance on the arsenal property and
TO the payment of the amounts due the
| agents and servants of the club, for their
services up to the time of the application
for a receiver and the temporary appoint
ment of Mr.. Carswel. The receiver is
then to pay the taxes due the city, county
and state. He is generally to have full
| charge of the property of the military cor
poration and is vested with large powers
and wide discretion as to its management
and use.
The answer of the Guards to the appli-
cation for a receiver was filed some time
ago and confesses all the allegations of
insolvency. The corps interposed no OBJ
lection, and as the holder of the first mort
gage bonds was also acquiesceut elaborate
arguments were not necessary to induce
Judge Seabrook to retain Mr. Carswell in
the position to which he had temporarily
appointed him in the first instance The
appointment Of Mr.. Carswell was further
urged by the fact that he has consented
to serve without any remuneration what
ever His bond was fixed in the sum of
$500, to be furnished by some surety COM
pany doing business in the state. The
trust, with its accompanying obligations
has been accepted by the receiver
There are plans afoot that almost con-
clusively assure the rental of the front
portion of the arsenal property for 81 POO
year. If these plans are finally con.
| summated, it Is believed that with the
rental from other portions of the property,
on the ground floor, that are used as
stores the financial condition of the cor
poration will be better than it has been in
years. This opinion was expressed by
Capt. j. Ferris Cam, in conversation with
Morning News reporter relative to the
subject matter of the litigation and the
affairs of the Guards.
Judge Sea brook has been acting in this
matter because of the fact that Judge Fal-
lsgant, before whom the case would natu,
rally be brought, is a life member of the
battalion, and hence disqualified to sit in
the case. The hearing would have been
held some time ago but for enforced alb
sence from the city of the presiding Judge.
who has been making the tour of the At
lantic circuit.