The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-02-10
FUTURE IS
BRIGHT NOW
Trigg Yards Certain to Resume
II Creditors Agree.
BIG MEETING YESTERDAY
BIG MEETING YESTERDAY
Action of Those Having Claims Infused
New Hope-MiIllon Dollars Waiting
For the Remaining Creditors to
Signal Will Know Soon.

The prospect for the early resumption
of work by the Trigg Ship Building Com
pany were never so bright as they are
to-day.
The meeting yesterday Of the Richmond
creditors and their unanimous action has
put new hope In the hearts OF all con-
nected with the enterprise. and It is be.
lleved that II their example be followed
the opening Of the yards for work may
almost BIO counted on the fingers Of two
hands.
The meeting Of tho Richmond creditors
was held in the Offices OF the company,
and $4,000 out of the 500. 600 owed in Rich.
mond was represented. The plan OF set
Element was explained to be that the
company would pay 90 Ia per cent Of the
claims In cash and the remainder In tho
comm on stock Of the reorganized com.
pany. The creditors were asked to come
forward and sign this agreement, as It
insured the carly resumption OF work at
the plant. The Richmond committee.
consisting OF Messrs. Boyd. Halves and
sitterding. explained to those gathered
there every detail Of the plan and every
ground for the hope OF reorganization,
keeping nothing back. The creditors ap-
preciated their frank manner and saw
that their interests were being protected
At once they signifed their Willingness
to accept the plan OF settlement. and
soon the last one had endorsed it with
his signature.
One gentleman. speaking Of the meeting
afterwards. described It as a "love feast"
IN HANDS OF CREDITORS.
good deal yet remains to be done.
But II the creditors act promptly, Mr..
Boyd thinks that 1t may all be finished
by Tuesday or Wednesday OF next week.
Richmond creditors whose claims amount
to about $4,000 were not at the meeting
yesterday. These are to be reached at
the earliest moment possible Much de-
Ponds on the promptness with which
they agree to the plan of settlement. Two
OF three Of them objecting might have
the effect OF breaking up or at least
grea tly, delaying the reorganization and
the resumption Of work A committee
was appointed to see these creditors, and,
explaining the plan. get them to agree
to- it. The gentlemen of this body are
Messrs. Levin Joynes, OF the Southern
Railway Supply Company: George w,
Bro@a. Of Baldwin & Brown: Ellis, OF
the Smith-Courtney Company, and Lip
hart. Of the Richmond Pattern Works.
They will spend to-day and tomorrow
In doing the work assigned them. AS
soon as the signatures are obtained the
papers will be taken by one OF the direc-
tors of the present company to the North
to get the creditors there to sign them.
The claims of these creditors amount
to about 800 900, and it Is understood
that two-thlrds OF these creditors have
expressed a willingness to accept the
plan. The other third have been sounded
and are believed to be favorable
MILLION DOLLARS READY.
Mr.. Boyd confirmed the recent state
mcnt of this paper that 100000 Of new
money had been subscribed, and said
that the papers were ready to be signed
Just as soon as all the creditors had ac-
copied the settlement. This money would
come from individuals In New York and
not from any trust, he said, and would
be ample for the maintenance of the
yards. He expressed the utmost conf
dence In the success of the yards What,
asked who would be the officers in the
reorganized company he said It was i'm
possible to tell. The new directors would
decide this. He said he was not at lib
erty to give the names of the New York
investors as yet.
1t will not be more than ten days be-
fore the people will know when the yards
will resume work 1t is learned that the
promise of new work has been receiyd.
The all-lmportant thing now Is for the
creditors to agree to the plan of set
tlement.