New-York tribune., 1901-01-21
THE RECEIVERS REPORT.

The reports Of the receivers Of both firms with
the statements of liabilities and assets follow:
5iessrs. Cornelius " Bliss. Augustus d. Juilliard
and John Clahin. Advisory Committee.
Dear Sirs: The statements herewith submitted to
you show approximate unsecured Indebtedness Of
the firms of ". L. Strong & Co. and C. H & T. H.
TrOximateiy $500 600 This includes the Indebtedness
ot each firm; and also that for which both firms
are liable. The estimated assets include item
Of sSO5,Ss6 "a. claimed by each receiver to belong
% the estate in his charge, and also item Of
100000 the amount which it is estimated can be
Ieaized upon the Stott mills at StottVie, y Y.
No allowance has been made in these statements
for losses incident delay or expenses of admin
istraton. The assets of " l. Strong & Co. con-
sets Of G H & F H. sfoft consist t''G mainly Of
goods unsod and goods in process of manufacture
al StottVille, y. Y, together with accounts re-
ceiVabe We believe that these assets in the usual
course OF trade could not be made available
basis OF the cash offer hereinafter proposed in
The plant Stottvflle consists of four mills and
IS so arranged that the finishing work for the en-
Tire plant is done in single mill. The receivers
property. although. OF course liable for partner
ship debts after payment Of individual indebted
less OF the owners Two of them were owned by
Of which is The fnishing mill were owned bv F. n
stott and both of them were partners in the firm
Ct c. II. & T. II. Stott
Both Mrs Catharine A Stott and r II. Stott
have died within the last few weeks. and since
the death Of w. J.. Strong. We are informed that
mrs stot left fourteen descendants interested in
her real estate. and that some Of them are minors.
We are advised that this real estate is. Of course,
subject TO any personal Indebtedness Of partners.
We know Of no personal Indebtedness Of Mrs. Stott.
r. n.
oeDtedness is more than $S90, and that he left
no estate other than the mills and his residence
4no ten shares Of stock Of the Farmers National
Bank OF Hudson of the par value of 81 600 and
worth as We are Informed, in the market ap-
sonal debts of which are informed.
ssusnsStantally the whole amount of this personal
.hdebtecness. aggTegating than $4,000 must
oe MADE out of this real estate consisting Of the
e-,- - az. f,oti IealHehce DeIore ihal prop
eiV can be available for tne payment of any part
nership Indebtedness of c. H & F. H. Stott and
this involves PROCEEDINGS for the Settlement Of the
ISSuIt OF Columbia County, and many months Of
We are Informed that arrangement be
eneeted IN by which the sum Of 100000 be raised
s,a 'als LIZ properly Wlthn comparatively short time
tno me made available toward the proposed settlement
Zen tSsn oe raised and, IN view OF the facts which we
Eage stated. we believe that IL Is more than can
Considering the possibility Of realizing more than
ae9eN above all claims against the mill property,
sses aggregating more than s50OO6 in the years OF
oppression following 1892 These losses fully ac-
is record OF disaster and the necessity of spend
necessary standard OF efficiency seem 10 us TO JUS
~ our present low estimate Of the available value
The relations between the receivers have here
ssoiore been harmonious. and We are confident that
Ior ne interest or al concerned that such
.eauons should continue. In case either of us. as
seeelver, should be compelled TO enforce separate
lations would necessarily be disturbed and our re-
terred would necessarily be the subject of itiga-
III, Tor neither Of US would be lustified-in assum-
uon. involving large "A sum. without an adiudi-
s4uon OF the Court. Snch litigation would be ex-
fehsVe and would take considerable time On a
son settlement Of the two estates this question Of
Nerlefship becomes practically immateriai.
- Aue earlier settlement be made unQueS-
ssoiaDy the better II viii be for all interests To
tSSLee the last cent out Of the assets would take
~ greater part OF the year at least. and be-
ri.Le ite irom the information which has been fur
fha fhhso to US that by sacrificing something from
~. value OF the assets shown by the state
s..1s enough can be realized 10 enable Joint
isI Isihent 10 pay " per cent I'm cash by March Is
NOT b,se me expenses OF the receiyerships We do
any saeye that more than this could be paid under
rnsn eninently desirable that the date Of pay
fhs snould not be fixed later than March Is for
underssssoa mat the stock in the hands OF the
ensbie ttiled receiver ot =. H. e. r H. Stott will
II ~ MN 70 run the mills until about that date.
date 4. ssluemeHt cannot bc completed by that
mills eiu pecoMe necessary 20 shut down the
we therefore recommend for your consideration
Continued ninth page.
Jtyn,u.s