New-York tribune., 1902-01-07
MR.. LADD TAKES CHARGE.
CRUDE RUBBER RECEIVER EXPECTS
TO HAVE A STATEMENT READY
IN DAY OR TWO.

The order made on Saturday afternoon by
| Judge Lacombe, appointing William w. L.add.
| jr., temporary receiver OF the Crude Rubber
Company, filed yesterday morning in the
office Of the clerk Of the United States Circuit
Court. The order requires the creditors of the
company to show cause January "a why the
appointment of the receiver should not be made
permanent. 1t also requires the receiver to. file
within ten days a bond Of $4,000 for the faith
full performance OF his duties. a requirement
with which Mr. Ladd complied yesterday.
Mr. Ladd went Immediately from court TO the
Office OF the Crude Rubber Company, in the
Broad Exchange Building. and took possession.
The deputy sheriff in charge retired soon as
Judge LaCOmbes order was served upon him.
After a brief consultation with Vice Pres-
dent Earle, the acting president of the COM
pany. Mr.. Ladd said he expected to be able to
make statement for publication within a few
days
Il have only just taken charge" he said "and
have started an examination of the books. From
the apparent magnitude OF the business 1t will
be couple of days before I shall have any
idea of how matters stand I shall be glad to
make statement as know enough Of
the business to be able to talk about it"
Mr.. Earle said he had nothing to add to the
statement made for him by his counsel on Sat
urday
published statement that the net liabilities
OF the Crude Rubber Company would be found
TO aggregate in excess of S7.OOOOOO was declared
yesterday at the office OF Flint & Co. TO be in
correct. the fact being that the liabilities would
not exceed $5OOOOOO. as was set forth in the
bill Of complaint which the application for
a receiver granted. OF the liabilities
S2OoOOO0 Is TO bankers who are said TO be fully
secured by holdings Of crude rubber, and
other 81 OO0OO0 represents Inducements and
guarantees, the Endorsements on the WatkinsOn
paper amounting to $S00.0OO. About the
naming $1.0O0O00 there is apparently some
mystery. Charles r. Flint said on Sunday that
1t distributed among FIVE bankers. who
satisfied and were mot worrying; and to
that statement he declined yesterday to add
anything.
Trenor L. Park, Of Catn & Co. who is a leading
director of the Flint, Eddy & American Trading
Company said yesterday. in response to ques-
tions in respect to the business and control of
that company:
I and several friends OF mine held the control OF
the old American Trading COMPANY, and We now
American Trading Company; This latter company
carrT On the business hereor done by h
American Trading Company, which was engaged
In the commission business with China, Japan and
the East together with the business Of Flint. Eddy
& Co. which was engaged In a similar business In
South and Central American countries, the West
Indies. Australia. III" Cape and olscW here. At the
Consolidation Of the two businesses the owners Of
the American Trading Company took a minority
interest. but recently and friends have
purchased the balance of the company's treas
ury stock and have also bought from the mem
bers of the old Flint, Eddy & Co. a block Of their
holdings in the present company that we now
have large controlling interest in the new com
pany.
The company occupies perfectly Independent
position. 1t is not now and never has been direct
ly indirectly connected with Interested in
the Crude Rubber Company or I'm any other rubber
company. in any outside companies or enter
prises. and IS now doing and has from its organiza-
tion done Il large and successful commission bust
ness. TO which 1t has strictly confined itself