The age-herald., 1901-04-24
WANTS II PLACED
 IN BANKRUPTCY The Continental Security Re- demption Company ATLANTA CREDITORS SUIT Alleged That the Company Is insolvent Aggregates About $24oo, and the
 itors-suit Was Filed
 Yesterday. +'

Litigation in connection with the Conti- mental Security Redemption Company took a new turn yesterday when a peti- tion was filed In the United States Court to place 1t in involuntary bankruptcy. On April 19 this company was placed in the hands of J. B. Cobbs as receiver, by Judge Bruce of the United States Court upon the application of George A Blinn, Jr., V. s. Morgan and c. s. Hayden, three officers and directors of the company. In their petition they alleged that confidence in the company had been destroyed 4 by certain recent rulings of the postal au- thorities denying the use of the mails to certain debenture companies and by q de- cision of Judge Davis of the Supreme Court of Ohio holding that certain forms of debenture contracts were unlawful as containing clements of chance and were against public policy. They therefore asked the court to take charge of the assets of the company by receiver In their bill the assets were said to amount to s12S, ,923.79, most of which was repre- sented by notes about S00O0 being ex- pense account notes.
 ne bankruptcy Petltlon.
 The petition yesterday asking that the company be adjudged an involuntary bankrupt was filed by Elmo Massingale, Randolph Rose B. Edgar Frye. w.. w. Willis and Christine Willis. all of whom reside in Atlanta. It alleges that the company has debts to the amount of 5000, and that petitioners have probable claims f,,a of h. sum of $500 They also allege that the company is insolvent and has committed an act of bankruptcy within the next pre- ceding four months lin that 1t did here tofore to-wit, on or about the 6th day of April. 190l in the city of Atlanta, Ga, transfer to Jennie E. Honeycutt W. H. Arnold. w. l.. Ritchey and Joe M. Arnold, large amount in money to said parties, who were creditors of the National De- benture Loan Company, which had been merged into the Continental Security Re- demption Company with the Intent tc prefer such creditors over it's other creditors" ssg
 Character of Claims.
 The petition also goes. into details in regard to the amount and character of pe- titioner's claims, alleging that the na- ture and amounts of your petitioners claims are as follows:
 Fillmore Massingale, consisting of 50 De- benture contracts. series A, numbering from 150 to 199. inclusive, in The Amer ican Redemption and Trust Company of Hogansville, 0a.. to the amount of $1700. That the said American Redemption and Trust Company was merged into The Continental Security Redemption Com pany and said Continental Security Re- demption Company assumed the obliga- tions of the said American Redemption and Trust Company: Randolph Rose. con sisting of Debenture contracts, series A 4. No. 70. of the Southern Debenture Re- demption Company, of the value of s39: H. Edgar Frye. series !. Nos. 26 and 2. $96 in the Southern Debenture Re- demption Company; Christine Willis. se- rfes A 4. Nos. 6 and [ $7e. in The South ern Debenture Redemption Company; w. W. Willis. series A 1. Nos. and [, $7S, in The Southern Debenture Redemption Company. That said Southern Debenture Redemption Company was merged into the said Continental Security Redemption Company. said Continental Security Re- demption Company assuming all the lia- bilities and all the obligations made in the Debenture contracts of The Southern Debenture Redemption Company. with your petitioners"
 The bill is signed by Sims and Harris of Atlanta and Thompson and Thompson of Birmingham.