The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-08-04
jsSU|LLY STOPS
HIS COuNSEL
Would Not Permit Appeal ID
Sympathy Of the
Creditors.
STORMY SESSION was HELD.
Finally Decided Tvat Estate
Must Be Administered
By TRUSTEE.
(isy Associated 1rcss.)

. a ftUsf
4 NEW DIRK, August SLATER a some.
what stormy meeting TIT lasted two
hours to-day. the credltorl Of b. j. sully
and Company decided Tit the estate 4
must be administered by 10 trustee ana
that they would wltlldrawthelr assefts
to the composition agreemht. 5 sA
Then they adjourned unit Tomorrow.
when formal action will8bc hkcn to that
end. AZ
Sully Raised Poht.
The failure 10 agree was sbrdght about
by Mr. sully himself. After n counsel.
John r. Dos Passos. had cxplaled to the
meeting OF creditors that snllthc indi.
.vidual creditors OF Mr. suily Id With
drawn their claims. and that, rnajor- Il
ity OF the firm creditors had shed con-
sents to the fifty per cent. a eecment. N
Mr. sully raised the point of the ex-
penses Of adm Illustration. It&wa spn that
point that the two sides split. 8
1 Lawyers for somc OF the credltd asked y
Mr.. -sullygif no was prepared tnput UP
the cash to make good his offe 1T 40 II
per cent? cash. Mr.. Suliys repliel by d IA
statement OF figures which shoW that
the estate In the hands Of the sustce
and receiver Il D ould more than 3rntsh ia
that amount. after allowing ss0.p for
the cost ofsadmlnietering the tn He AZ
explained that he was unable pa ss
more and TINT he was on ly abla pay
80 much because 8of The attitude the II
friendly editors. sS3 J. Sx
Attitude Criticised.
The figures OF David Muller. tharus-
tee, agreed WI IL, those OF Mr. uily. they
showed i cla.nls or s3,511 900, inclsing
claims #of $40. COO filed to-day, VII tn IA IL
able assets of s1.3isO0O. including $1,000,
the assessed valuation OF the seatt on #
Ftllo Stock and Cotton Exchang es, Q We'd n
BY TIC h firm. The Individual credit 8g
whose claims were u o be ia ken from No.
list, w!llPreduce t by $500 og1 nd icaS
IS, $4,000 as the sum Gale for hy n the a N
per cent, fer There was a long d,a
cussi lon. crlticising Mr.. Sul1ys al titude
# .aThe nuestion is simply this. ~ said
Gordon Il Boil, counsel for some. OF hei
creditors. us air. sully ready to- put up
4 certified check for the necessary
q mount to make the 40 per cen T. gooA !!
II ne Is not ready o put up from slgy ],'
to $3.50, o00, VIC are only was Ing g Ine.'
nI;ll do 1t the m omerit you sfiov3 2 :.
Ill Is necessary to mako my offer Eoag ,u.
replied Mr. sully. don tsilS g. Win I
draw my proposition, but it Is 81 ms
possible for me to 81 more mar, Ls have
said, n III s 4 IN 3s
w ouldn't Permit Appeal. ]:
The u creditors represented were g mot
ready to take up any part Of the burden den
.of the administered fees. and n 8. pos 1
Passos tried to appeal to their sym n pa1sh =.
but Mr.. snIy would lot count nance u, ~.
when Mr.. sDos Passos said look az Stttis
nan. He is bankrupt, broken in p.irfFff'.
broken in splri sully inferruptett
with q III orous mot on your y
,Neither side would rccede from he. az.
{tude taken and ID IT. the NEE s1hs ~
tourncd s)until Q-m nrrov' \, h.
"A Counsel for creditors gay m tice I'M ilt !
lie would at chat time fferS AZ " motion
II hat the trustees be instructed TO proceed e'
with the admir- lstratio n Of the es "a lii1