The San Francisco call., 1904-02-16
WILL RECEIVE
CLAIMS IN FULL
Committee of Creditors of Boil
ton, de Ruyter & Co. Makes
a Very satisfactory Report
ONE HALF READY IN CASH
Members Of the Concern Stand
Ready 10 Personally Make Up
Any Deficiency That Occurs

The creditors Of Bolton, de Ruyter
& Co. will receive 100 cents on the dol
lar Of their claims against the firm If
the committee of creditors that was
appointed TO investigate and report IS
rot mistaken. This announcement was
made al a meeting Of the creditors yes
terday afternoon and il was well re
ceived J. II. Jellett the chairman OF
the creditors committee, read the re
port. which was signed by himself and
s GOldzieher and W B. Fisher, ms
associates on the committee.
Before the meeting was adjourned II
was voted by the creditors in attend
ance that they would accept the report
and also the terms Of the firm, which
were that 50 per cent OF. the total IN
debtedness should be paid in cash at
the counter Immediately; that . per
cent should be paid in thirty days, and
the remaining 25 per cent in six months
or earlier. TO carry no interest.
"Our firm conviction is, so reported
the creditors committee, that the
creditors will receive 100 cents on the
dollar II the matter is settled out Of
court. and We therefore strongly rec
ommend the settlement" Where was
little question among the creditors
present. who numbered a score or more.
They accepted the immediate payment
Of 50 per cent as an evidence of good
faith and of assurance that the re-
naming 80 per cent would be paid as
predicted by the committee.
WILL AVOID COURTS.
While the members of the firm, who
were present at the meeting of the
creditors, made no remarks, Thomas
C. Van Ness, their attorney, spoke
briefly and took the same view con-
Cerning the final settlement as did the
creditors committee. After a few
questions had been asked the report
was adopted and the creditors voted
TO go on as the committee had recon-
mended and not carry the matter into
the courts for settlement.
The creditors committee, going into
details. reported that the assets
amounted TO s109 .351 SO. which we're in
the following items: Cash. $50, ,35S SO;
outstanding accounts and bills receiv-
a bic. So. .9s2 90; office fixtures, $500;
membership in Chicago Board of Trade,
$500; two memberships in Mercha 7ts'
Exchange. $1,000. The Liabilities
amounted 10 $50. .273 g. so that there
was an apparent surplus Of s26,073 d
The committee reported that the firm
had no desire TO compromise with its
creditors. but would pay the entire in
debtedness in three payments, one Of
so per cent and two Of % per cent each,
y
agreement. would realize on the as
sets and the individual members Of the
firm would without delay take steps
10 convert their individual holdings into
cash in order 10 meet any deficiency
that might arise.
BIG PROMISSORY NOTE.
In the outstanding accounts, so the
creditors committee also reported,
there was a prOmissory note falling
due in eleven months, upon which there
was q balance owing Of $50, 713 rs the
same being secured by a second mort
gage on a ranch in COlusa County. con-
sisting of about $500 acres and assessed
for S63,1 100, including improvements; but
this was not Immediately available or
convertible into cash.
The first mortgage was for about
so 500. A portion Of the unsecured out
standings would be slow Of collection
and some would possibly prove of
no value. The creditors, in the opinion
Of the committee. need have no uneasf-
ness, for the reason that the individual
members Of the firm had interests in
real ana personal property aside from
the partnership assets. which should
make Up any firm deficiency, should a
deficiency exist.