The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-10-08

securities under the abnormal conditions
now existing, but 1t Is our unanimous
opinion that the marked ability and great
energy Of the members OF tho two firms
will speedily bring about the best re-
sults to all creditors.
LARGE SALES MADE.
Since our first circular, several large
sales Of securities have been made at
prices fairly satisfactory under existing
conditions, and earnest efforts are being
made to effect others
We are confident that tho interest OF
the creditors will be greatly promoted
II the time for the payment Of their claims
Is extended and a reasonable opportunity
thus afforded for the gradual and Judi
clous disposition Of the securities. while
the forced sale, at this time, OF collatc-
rails held by the creditors, will further
depress the market and depreciate the
value Of securities generally.
We believe that the liquidation Of the
affairs OF the two firms can be accom-
plished in a reasonably short time. This
liquidation will be pushed under our d.
rection as rapidly as possible, consistent
with the interest of the creditors.
After mature consideration. We submit
and recommend to the creditors the fol-
lowing plan as best calculated to accom-
plish the most beneficial results to all
concerned:
/. That the creditors OF each Of the
firms agree to extend the time for the
payment OF their respective debts for q
period of seven months from October L.
1903, and to hold the collateral pledged
as security therfor during the said period
of seven months, unless sold as herein
after provided; that they further agree to
receive payment in FULL or on account
at any time within said period, and to
deliver any collaterals held by them re-
spectlvcly, upon receipt OF the net sum
realized therefrom at sales to be made
by the owners, with the approval Of the
committee. the payment to be credited
upon the debt for which the collateral is
pledged
q That the business OF the firms shall
be under the general direction and gu
pervision OF the committee, until the liu-
uidation or satisfactory adjustment OF the
Indebtedness Of the firms has been ac-
compished, but the direction and SUPER
vision shall in no event extend beyond
the first day OF May. 1904. The committee
shall have power to MI any vacancies
occurring in its membership.
g. That the acceptance OF the forego-
ing plan shall not be binding upon any
creditor asserting thereto, until and un-
less creditors holding or owning not less
than seventy-lve (75) per cent. IN amount
of the liabilities OF each firm shall have
assented thereto, on or before the 18TH
day Of October. 1903.
people healthfu amuse ment and IT pro-
tors has already given their assent to this
plan, and We trust you will notify US
OF your acceptance at once by signing
the attached form OF assent. and mailing
tie same TO Douglas n. Gordon. secre-
tary, rs East Baltimore Street, Baltimore,
Md.
pohart r. Davidson y chairman: Douglas
II. Thomas, Douglas H. Gordon. John
3. Ramsay, Eugene lowering, Balu-
more; Eppa Hunton. Jr., Richmond,
Va: Frank o. Briggs. Trenton, N. ].
We hereby approve and assent to the
above plan.
JOHN l.. WILLIAMS & SONS.
J. WIN. MIDDENDORF & CO.