The Montgomery advertiser., 1902-03-11
SELMA MEN
 BUY THE FAIR Will Probably Continue
 Business Here. LARGE DEPARTMENTSORTE Their Bid for Stock Was
 s20.ooo. . Meeting of Creditors Held Yester- day-Expert Will Examine Books of Bankrupt Frm-Mra Hurter's Claim Contested


 The attorneys representing the creditors of The Fair. the large department store that is in the bankruptcy court spent busy day yesterday. < First of all the stock of The Fair was sold in, the morn ing and in the afternoon the creditors held a. meeting at which nothing definite was done beyond naming a committee to go over the books of the concern.
 The sale. if 1t is confirmed by Judge Jones, will result in the stock and fixtures passing into the hands Of Elias berg Bro, prominent Selma firm. In that event 1t is more than probable that the Selma merchants will open big busi- ness in Montgomery. The bid made by Messrs Eilasberg through their represen- tative was $2O.000 for the stock and fixtures. A bid of s2o,OOo was also made for the lease on the store now occupied by The Fair. This latter bid, however. it is said will not be considered. inasmuch as the order from Judge Jones for the sale stipulated that no bid for less than face value of the lease would be accepted. The face value of the lease on the build- ing which is owned by S. Roman is BPS, ,0O0 The $4O000 bid for the lease. stock and fixtures will not go. but the $2o,0oo offer by Elasberg & Bro.. for the stock and fixtures was accepted by the auc- tioner, subject to the approval of Judge Jones.
 The lease feature of the sale complicates matters 2 bit. The offer made yesterday for the lease alone wll not be accepted and its fate is problematical It may be sold again or some arrangements be made whereby it will revert to the owner.
 Directly after the sale a member Of the firm of Eliasberg & Bro.. was asked as to the intention of his firm in the purchas- ing of the stock.
 "well. we have not yet come into pos- session of it," said he. "and I could hardly be expected to outline our plans just, vet Our bid for. the stock was ac- cepted, but the question of the lease is stn unsettled. It is possible that we will open a business in Montgomery. but that cannot be announced positively. In fact, we have had no time to outline plans. Our intention of bidding for the stock was only formed Sunday. the day previous to the sale.''
 At 3 o'clock in the afternoon a meet ing of the creditors was held In the of- flee of Referee Stratton. over which he presided. The room was crowded with attorneys representing the creditors of the big department store. which had filed scehule. of indebtedness of $i1s.ooo. with assets of something over s75.o0o. A disagreement between representatives, of the creditofs arose early in the meeting. On of the attorneys announced that he would oppose the payment to Mrs. A. H. Hurter of any share of the proceeds from the sale of sthe stock. fixtures or any other pnoperty of The Fair. This ques- ton came up when Mrs. Hurter's attor- ney was challenged as to his right to vote on the eelction of trustee. In making the challenge the attorneys representing other creditors said that it was under stood that Mrs. Hurter had filed claims against The Fair amounting to between s30 GO and $4o.00o. The other creditors ex- pected to contest the payment of those claims until every other creditor of The Fair had been paid. They did that be- cause an agreement had been signed by Mrs. Hurter and I. Pollak with the Fourth National Bank whereby the last named parties agreed to waive all claims against The Fair until debts subsequent ly made had been paid in consideration of 5000 by the bank. The attorneys for