The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-05
Company incorporated Under Vir-
ginia Laws in 1897.
WILLIAM W. LADD, JR, CHOSEN
He Was Appointed by Judge Robert R Prentis
for Virginia Jurisdiction. and by Judge
Laeombe for New York.
Bond. sloo, COO.
tBy Associated Pre,s.)

NEW YORK, Jan. 4.--Odlcial announce
ment was made this afternoon at the
Office of the Crude Rubber Company that
receiver had been appointed for the
company. The announcement was ae-
cop1panied by the following statement:
1.-THE Crude Rubber Company is in tha
hands of a receiver in order to avoid thu
obtaining of preferences by attac..men
or otherwise, and in order that all Inter
ests may be equally protected The In
ternational Crude Rubber Company sue
ceeds to the business of the Crude Rubber
Company, and has taken over the rubber
of the Crude Rubber Company for the
purpose of avoiding any conflict IN seiiins.
This secures to the banks who have ao-
vanced on rubber of the old Crude Cont
pany the highest price for the rubber
on which they have loaned. and' preserves
the largest equity for the creditors OF the
Crude Rubber Company.
The officers of the Crude RUBBER Com
pany decline to make any further state
ment as to the present status OF the
company, the nature of its Liabilities. or
its future prospects
WILLIAM w. LADD. JR.
The application for a receiver for the
Crude Rubber Company was made to
Judge Lacoubs, of the United States Cir
cult Court, by Attorney William Nelson
Cromwell and the Judge appointed VIII
liam w Ladd, Jr.
Mr. Cromwell said tonight:
Upon applica ton of Charles r. Flint
and Company, Judge Robert r. Prentis,
of the Circuit Court of Norfolk. Va, to-
day appointed William w. Laid. Jr., as
receiver of the Crude Rubber Company
in that jurisdiction, and thereupon In
company with Mr.. Hill. of my firm, for
Charles R. Flint and Company. and Will
liam F. Goldheck for the Crude Rubber
rc IN ~ rrpcee1nca p filed
before Judge Lacombe. of the United
States Circuit Court OF this district. The
application was considered by Judge La
combe in chambers early in the day, and
confirmed by him later; when Mr.. Ladd
was appointed receiver for this district
also The bond Of the receiver In Viz.
ginia and New York was fixed at $4,000
in each Jurisdiction.
This action was taken in the interests
of creditors and stockholders of the Crude
Rubber Company TO prevent preference
by attachment and dismembernent of the
property and assets. The bill of COM
plant sets forth the date of the Crude
Rubber Company's organization. the
terms of its charter and gives it, present
officers as Henry Earle .vice-president.
and P. B. Lacy Liberman secretary and
treasurer. It also stated that the COM
parry does a large business in South
America and this country.
/ ME-. Lacy SaSS t1lC SIuuS
| Company now has a stock of rubber and
| bills receivable in excess Of $1,000, 0G0.
nearly ell OF 1f!lich is pledged to hank
ers Mr. Cromwell said also that the
| con1pany's direct liabilities are abou:
| 50. 900, 900, added to which are endorse
ments and guaran footing up another
81 900. 600 or this latter amount about
sSoo.n10 is OF the paper of Georges
Watkinson & Co. OF Philadelphia. whose
failure was announced a few days ago.
When organized ard incorporated in
1897 under the laws OF Virginia the
Crude Rubber Company had an author
| lied capitsliza ton OF one million dollars,
| OF which six hundred thousand dollars
was IN preferred shares and four hun
drea thousand dollars in common shHres.
| Later the common stock was bought IN
| BY the company so that at this time
there is only the $6oa,o00 OF preferred
stock outstanding Mr.. Cromwell is au-
| thority for the statement that Flint and
| Company held 1.22o shares CT the 6eso
| shares now outstanding. Their par value
/ is s10o.
| Soon after it became known that the
| Crude Rubber Company was in dffficut-
! ties. announcement was made that the
/ International Crude Rubber Company.
| In which Mr.. Flint is one Of the leadins
| spirits had acauiretf the business OF inc
t;nsoIycrt company.