The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-03-22
;SU'DLYPL.,..AI'NS
SETTLEMENT : !. \
But Creditors Have NOT Yet ct
,s N a greed W II, His Pro- Pro- 4. .8s
W POSITION
STATEMENT 10 10: THE | 1 E: PUBLIC Y q:
fFot.tllcr Cotton King says Only,
n. Legal rcchni tiles Stand ia'1i;1tdl ",
83in the Way.
(By Associated press,)

tqi N I1yY 81 DIRK; March 2l..-After confer
scrces IL creditors Of tho assigned firm q
Daniel II. Silly and Company, lasting
several hours this afternoon and eve
ming, II wa ANNOUNCED Tonight that no
definite aottlemert had been arrived at,
but that things wero III d fair wa 9 Z q T.
srangelnent. saIt was said that Mr.. Sullv
5 l,ad smnde al proposition to his creditors
to settle contingent upon the acceptance
#of which ho had offered to- give Thorn
Their choice of 'nssgnces but that y his
proposal failed Sor Immediate approval,
gandgthat another meeting would be held.
Late Tonight MI sllly,s fter a CONSUL
5tation wltlRfhis counsel, issued the fol-
lowing statement: n
me Eh$committ tee Of the creditors
/ of Daniel J,3 fSully and Company this aft
8ternoon n,11fsubinltted to them a propo--s
3siton for the settlements OF fairs Of that
$ firm, which,, IL carried out, will. rvo be-
tlievt, sec,irof I'd Stl1e creditors paynlentEof
theit.3 claims i'm full, and offered II that
settlcn1er is should be accepted III by the
oditors, Stos@ cooperate with them 83illS
|Iplacing tho affairs Of tho firm In the
Hands of$persons admittedly nccoptabe to
all intercsts.s We have Heard this propo-S
sitlori was received In q favorable spirit,
and that If certain legal tcchnlcalltiesE
can bo arranged 1t will probably DO ac-i
6cepted, At tliG moment we are della ylngs
action. aWaitingf;I solution Of these legals
questions by the counsel representing the
various&interosts concerned" IT a 9S.
M i1' ARMAMENT AssIGNl0Es.
II Il vas understood that ut the after
noon meeting Of creditors the numes of
David AIlllorS ard Evans II Dick had
been considete as permanent gassgnces.
Mr. Houdley, Suly's assignee, did not
withdrew and was not at his office all
day III St s;sE Stfsf siJ IA {$ \ XII s
AT tho creditors meeting fully eighty
g Gsn weGS john G. Than Pslng
Soils. WEI Springs, Of j. II Parker and
Comp vi hes latter said to be the largest
creditor q. Snlly g firm: Henry llentz am,
was announced that a comnltteeao Of five
had been named to confer with Sully to
find out whatshe had to say to tho cred
after the committee had reported all pres;
cnt declared that they had been pledged
TO secrecy. President McDougall said
that there would be. another meeting, but
II Il was ndarstood That tho conference
| had $sreceipedanh Offer. from Snlly " for
settlement Y Il tho terms being reported as
forty per cent. II cash..on claims and md
years, ana that, there was a. ference &
ppinion regasG e asGfepan Sene
to resume very shortly Mr. Cutcheon.
counsel \ fm ]. Sullyrt said a,5statement4. OF
assets mud lsbil being pared
doubtful fifI t''toull DO flushed to-day.
s. SCOTTON TsK rs.IIIGHER
Tlle#cotton marke ruled higher to day.
ty-five points higher thar Saturdays
close. May and b July cottons In which
sullY had been dealing, showed advances 'a'
80Therc vas 4 Isllghthrecession from these
7 figures, then another ADVANCE followed
I BY a slump and a subsequent rally, which 3
closed the market tn; prices about MD. !,
Saturday and the highest. Of the day.