The Montgomery advertiser., 1904-03-23
TWO RECEIVERS NAMED
Bonds Of Miller and Tan Flx-
 Cd at $20O. .000.
Believed That the Former VIII 0o to New orleans ts Take chargs of the Branch ofacs
 of the Firm.

New York. March ag.--An tavnIppfary petition iia bankruptcy was fiied sod6y N the United States District Court a&atnHk tho irni of panicI J 6tlly & O.. cossz@ posed Of Daniel J Hnlif. s6rnuaI H ~ Morse. ". R Faein and Edwin aadleR. IT.. bf three creditors.
 The latter, Q M Wells & sCo.. having in excess of szso eoQs ]. Temple Gwakhsn&4 C Go. whoae claim fs tn excess Of Ss74s co and Shearnon. HAmniil 6s Go. Wlkh ciaifu in excess of N0e.U09 aileNh f1snS the firm of Eully g Co. also psixoHa<s6 cotton from them. the prices 10 ta 14N and determined March 7D, under tza xniHN of the Cotton Exchange.
 On that day. the petition efat<s. <hek the firm of Snlly e Co. notllfeA th1 K@9tA ton Exchange and the creditors in Qsta6- tion cs iss inability to meet ositakaslalnS The act on the part Of the nfm aan1sfr tuting bankEuptcy is given as the nsszliN ef general assignment on March n
 Judge Holt appointed as receivers p&s vid H. Miller and Henry ". Tbfi nAzI,N their bonds at S1d0.eo0
 Meeting Of Creditors.
 Creditors of sully q GO. met i&ze this Afternoon in the office of th6 Noa;M nz Managers at the Cotton Exenspxa kQ hear further reporta from the Committees bf five appointed yesterday to receive fk4t8 When the c0mFnittee reported khMS Mn M&z ditionaf appropriation had been nlade hN 9ully. the creditors decided ko adjourn without date.
 It Is understood thas if MT. suily han any other propositions to mako. thev will be made through the receivers wio may call q meeting to submit auch offer 70 the creditors.
 David IF. Miller and II " Taft. the new receivers, having filed their bondl and been sworn ins took formal pcsaes- sion of fhe Bully offices tonight The dooEk or the extenetYe suites ef a0iceei vim oiie e4ception were sealed bg tfe expert aecounfant who will under ths nupervision Of the receivers. 60 through the bo0lxs and accounts.
 Messrs Miller and Taft together ntal1 q short statement to the effect that khey had been for such q short time In charge and their knowledge of the firms affairs was SO meagre that they could say noth~ ing that would be Of interest. Mr. Miller. 1t was reported today, would go to New Orleans and take charge of the New 0r- leans ofIiees Of the firm, but he said he had not decided definitely. Mr. Taft snia that the receivers were ignorant aa Co the methods Of bookkeeping In the New Orleans oiHees. and whether or not the situation would require an anclnieHy r9s celver n Lopialnnas He sasds
 Settled Iuguxance Matter.
 About aIl we have done SO far is k0 settle a hard muddle n regard to the m suranee on large amount ag cotton in storehouses here On account of tho transfer of ownership to uH. ths iuanzsnrs on Acrne of the cotton inpnea. On soue oS the other cotton the policies had lanseA without this. 1t bsinz the custom to ses an hour there was large amount ek cot ton without lnaurance
 Mir. Taft was asked # tha arot cote ton in warehouses amounted 70 about 10000 bales.
 s'That ia very likely the 6stst he ualds .'but do not know % q ceHf feintY
 The feeling Of the street over the day'H happenings was that Aullxs5 hopes of settling with hla creditors ard Teemmins had practically been destroyed. and khat the possibilities in bankrupkcy proceed ings were such ae to make lk prabahla that sensations would develop latee
 Section H of the United States banks ruptcy law states that creditors nf eth@ CTS interested may, by oraer. require any designated persons including tho bankrupt to appear and answer auss- tions that lead to the determination ot the bankrupta assets. or to possible aa- sets not tn his possession. but which may be recovered by proceedines.
 It was believed that the Bankruptcy proceedings were brought with the idea of recovering for the creditors from men who were safd 10 have been in pool with sully.