The Portland daily press., 1900-01-24
Insurance Policies Now
in the Schedules.
Seine Sarcasm Crops Out During
the Discussion.

There VA, nothing prosaic or out-snd-
dried about the proceedings at yesterday q
meeting Of creditors of the bankrupt firm
of Woodbury. s. Moulton. Not much was
accom- plished beyond the election OF
trustee, hut some of the heaviest creditors
and lawyers armed with Instructions
| from their clients improved the oppor-
tunity 60 vent their feelings In manner
more forcibls than might have been at
tempted In oren court.
The meeting was held In the Office OF
Lewis Pierce, Esq the referee. On his
ofiio, table lay two big books from Wood
| bury & Moulton's bank. while snn ante
| room was filled nearly to overhowing
with letter tiles, books, records, station
cry, typewriter equipments and office
fixtures that were In the firm S possession
the day the notice OF the assignment was
pasted on the Office door.
About % citizens, quite number OF
them attorneys, were present at the
meeting, every chair in MIR. Pisroe's
front ofllos being taken. and the line OF
creditors extending out into the conn ect-
ing room. MIR. York Of the bankrupt
| tirm was present at the beginning Of
the session, but wns not there when the
liyeliest part OF the proceedings were In
| progress.
Referee Pierce informed the creditors
that hs had been working night and day
on the list Of claims, and there are quite
a number yet to come IN. He explained
the purpose for whioh the meeting was
called, and suggested that the creditors
| prooaed to the election of trustee.
| First, however, 1t was thought best to
settls the question of how large a bond
should be required of the trustee. Hon.
James II. Mcmillan moved that the
rustee be required to give o bond In the
sum Of 100000.
Epen Winthrop Freeman. Esq. moved
to amend Mr.. McMullan's motion, by
increasing the amount to $500, COO.
| He said that. In view Of the statement
of assete, az shown In the schedules on
| file, he thought s20o, 900 was not too large
an amount of indemnity.
"who Is to pay for this bondf' Mr..
Mcmillan asked. Somebody replied hat
tho cost of earring the bond would come
out Of the firms assets. whereupon Mr..
MCMILLAN addsd that TO increase the bond
to 500. COO would bring . needless OK
pense on the creditors.
Mr.. Freeman said he was Of the opinion
that the trustee would have to pay for
his own bond.
"Thsn how can he realize anything
tor his seryices?" continued Mr.. sMchul'
Ian.
The referee explained that he had talked
| the matter over with the court. and he
could not definitely say whether the
court can require the pay ment Of the cost
of the bond out OF the assets Of the tirin.
Mr.. Freeman's amsn,lment not having
been seconded. the original motion wal
put and carried, the amount OF the bond
being tn US fixed at 100000 Then th'
creditors prooeeded to ballot for trus'
tee, Asssrs. Larrabes and MCMILLAN be-
ing chosen q committee to assist the
referee in counting the vote.
The balloting was soon over, but the
committee was engaged from ll.S0 till
i2 O'Clock In tabulating the vote. Mean
whils, nest Of the creditors left the office
but returned In season to be present when
the vote was declared.
Artion W. Coomps, Esq. was announced
as the choice for trustee. he having re-
csivsd rs votes, representing si2s, 1877
while Gen. O. p. Msttooks had been
voted for by .6s creditors. representing
claims aggrOsating s6o.7is.
The referee said he should prefer not to
have an afternoon Gession, but would be
reSdy to proceed with the examination OF
the bankrupts this forenoon. Mr. Nc
Muilan moved to adjourn till 10 O'Clock
today, but p. J. Larrabss. Esq, waved
his nand and asked chs privilege Of say
ing a few words before the motion Il
adj ourn was voted on. His rsmarkI
started a debate that slasesd about On
hour. He said he hoped the members Of
the firm OF Woodbury. g. Moulton woule
see At to voluntarily furnish the creditors
with q eomplsts statement Of all tn,
sdattnA hank A aual