Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-12-24
TRlGG SHIP-YARDS SAFE.
PROCEEDINGS In COURT
Receivership Precipitated bya
Number Of Anxious Sup-
ply Creditors ofthe
Concern.

The legal proceedings that placed the
corporation into the hands OF receiver
were precipttated early yesterday after
noon by filing of supply liens by a
number OF nonresident creditors When
1t became apparent that the receivership
was Inevitable through the filing of these
liens. Messrs. S. H. Hawes & Co., of
this city, through their attorneys. N1essrs
Christian 6; Christian, brought the suit
under which the receiver was appointed.
Their claim is for s3,oaS.6b for supplies
Of lime, coal, and cement furnished TO
the shipbuildng company.
Mr.. Hawes did not file his lien until
others had been entered with Clerk Sayille,
Of the Chancery Court, and the receiver
ship could not be avoided. Along with
other local creditors, Mr.. hawes was en-
tirely friendly 10 the shipbuilding COM
pany, and had not the issue been forced
by one Of the nonresident creditors It
would not have come to a head yester-
day. Mr.. Halves asked Judge Grinnan.
Of the Chancery Court, to name Mr.. Lii
burn T. Myers, vice-president of the
Trigg Shipbuilding Company. as receiv-
er, and he was so appointed by the court,
under bond Of $4,000. the Virginia Trust
Company being named as surety. Mr..
J. Jordan Leake counsel for the company,
appeared at court in behalf OF his clients,
and also acted as attorney for the Com
merciaI Trust Company Of Philadelphia,
who are the trustees in the first mort
cage bonus. The Richmond Trust and
Safe Deposit Company. who are trustees
in the second mortgage, were represented
by their counsel This company is SIM
ply a trustee and has no beneficial in
terest
Million First Mortgage.
The Trigg has outstanding 81, ,0o0.0 first
mortgage bonds, placed with the CONNER
cial Trust Company of Philadelphia in
June. 1901, maturing in June, 1871. This
issue consists of 1000 bonds Of 81 900 each,
at per cent. The second mortgage bonds,
amounting to s1.000,0O0, Were executed 20
the Richmond Trust and Safe Deposit
Company, of this city, as trustee. 1nis
issue consis s OF 900 bonds of 1000 each
and 200 OF $500 each. The preferred stock
amounts to $3.50, 900. and the common stock
to s115OO0O. The second issue matureS in
ten years from date of issue. The semi
annual interest accruing on these bonds
this month was not paid.
AS soon as the receiversnip became
known in the city the supply liens were
filed in rapid succession at the office of
the Chancery Court. There were about
thirty of them in behalf of resident and
nonresident creditors. Counsel for the
various creditors fastened to get their
liens recorded as soon as information
reached them Of the action Of the court
in the Hawes suit AS the time that the
liens are recorded gives them priority IN
settlement, the attorneys hurried to the
City Hall. and during the afternoon up
to the hour Of closing the clerks office,
tbs phone was continually ringing to
announce that another lien was on Its
way to be filed. Clerk Saville recorded
the hour and minute when they Were pre-
sented, and they formed several bulky
bundles when they had been finally stored
away for future reference
Aggregate s155,ooo.
The aggregate of the supply liens IS
something over s175,o00 up to this time.
For several days representatives Of non
resident creditors have been at the clerks
office with these liens, waiting the oppor-
tunity to have them entered. but up to
$3.50 o'clock yesterday afternoon it was
thought the appointment of a receiver
could be held off and .he affairs Of the
big concern adjusted without the necessi-
ty of legal steps 1t was learned, however,
about the clerks Office, that the firm OF
C. C. knight. Of Philadelphia, whose
claim is for sS,1G5, forced the issue by
recording their lien; and when the matter
reached this crisis Messrs S. II. Halves
& Co. brought the suit requesting that
Mr. Myers be named by the court as re-
ceiver for the corporation.
List Of Liens Filed.
r~,ed;fors. who have filed liens for sup
CONTINUED ON SEVENTH PACED