The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1904-09-27

company by Judge Wing, of the United
States court at Cleveland last evening
about o'clock Atthe same time Ernest
A. Pflueger- of Akron was appointed
pany which is separate and apart from
the Aultman company, but for which
the latter company manufactures it's
ice-making machinery The stock
holders of the Arctic company are all
Cleveland men.
The Aultman whistle will blow this
morning and the shop will be operated
under the direction of the receiver
This will mean that the four or five
hundred men employed there will not
be thrown out of employment. 1t is
stated positively that there will be
NO SHUTDOWN.
Reports have been quietly circulated
for several days throughout business
circles of the city in which the name
of the Aultman company was men,
toned as being in possible financial
dfhculty. AS is usual in such cases,
the stories differed widely, some going
to the extent that the company had
made an assignment.
Those whom the rumors had reach
ed felt relieved when, on Tuesday the
Goth, the companys half-monthly pay
day, all employees at the companys
factory were paid in full, and the
works kept steadily in operation as
usual on Wednesday and each sue.
ceeding day.
Pursuing the rumors carefully, the
Morning News learned early in the
week that the company, owing to fail |
ure to sell all its output of threshing
machinery, and on account of slow.
ness of collections because of
a. .... ... CROP FAILURES
in several sections of the country and
the general lateness of the harvesting !
and threshing season, was finding diff,
fculty in meeting some of it's obli.
cations which it had given so as to
fall due in the middle and latter part
Of September, at which time 1t is usual.
ly In easy circumstances because of
large collections.
II was learned, however, that the
president OF the company, with some
others in interest, were making every
effort to relieve the situation and tide
the company over for a short time,
when its income would assure its
ability to meet every obligation as it
fell due, as always heretofore. So I
long as these efforts were being made t
with any prospect of success, all re.
Trained from giving publicity to the
rumors, knowing that the best inter I
ests of all would be served by giving
to the company every encouragement /
possible, and refraining from men A
tioning what was hoped might prove j
to be groundless reports. S
-. PRESSING CREDITORS.
The company has not been able to q
make entirely adequate arrangements s
to insure its safety, although it re-
ceived many assurances of assistance
In and outside of Canton. A few
rather pressing creditors, being unwil-
ling to wait longer, threatened to
bring suit. In this situation of affairs,
1t transpires that other creditors hold.
ing claims of considerable amount
while not disposed to press the COM
pany with undue haste, felt that all in a
terests would be best served and equal t
protection offered to all creditors by G
a temporary receivership. o
Application by creditors was there =
fore made late yesterday to Judge i
Wing, Of the United States Court at a
Cleveland, for a receiver, they con- L
sidering this very much preferable to Il
bankruptcy proceedings, as it will give
the company and creditors tine and q
opportunity to arrange for such I,
EXTENSIONS OF DEBTS. h
as will enable the company to continue a
Its business without interruption, and u
1t is hoped in short time to restore =
its financial position and credit. d
Judge Wing appointed as receiver
Hon. J. j. Sullivan, of Cleveland, one
of the ablest fnanciers and business
men OF that city and thoroughly ,'
known throughout the state. and, in .. o.
!act, man of national standing In W