The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-04-07

ANOTHER ! ] |
EXTENSION. !. \: |. I.
Williams and Middendorf.
1 Have Year tOLiquidate.
CREDITORS G R, ACTED
sUNANlMUU
Statement from Mr.. Bel11issss:'
Showing More Than Three
Millions Paid, ss
PAY DOLLAR FOR DOLLAR,
DECLARES J. S. WILLIAMS:
Largely Attended and Int Interest rest
ing Meeting Of Creditors Of
Two Firms III Baltimore
Yesterday Confidence a
in Both Is Ex
pressed.
Statement from Mr.. Benliss
Showing More Than Three
Millions Paid.
PAY DOLLAR FOR DOLLAR,
DECLARES J. S. WILLIAMS

Especial to The Times Dispatch.o a
BALTIMORE. Md, Aprl e.-At gem
eral meeting OF the creditors Of the Arms
OF John IL Williams & Sons and j. Wn.
Middandorf & Co.. held here to-day, Il
was decided to grant these firms twelve
months extension from May 4. 1904.
large number Of creditors were repre-
.se,,ted In person and by proxy.
II. G !. Davidson. chairman OF the Ad-
.yisory Committee, made; a statement OF
I the method Of conducting the affairs OF
IStho two firms s.:nder tho supervision OF
the "A iYisory Committee and introduced
r. 4. j.. Bemiss. Of Richmond 4 Va.,3 mem
her 81, the firm OF j ohm r. Williams &:
sons. # Mr.. Bemiss submitted a5detailed
statement Of the liabilities OF the iirH1 as
OF October i. Y 9os. when the first exten-
sion was gra nted and as Of apTll = l9va !,
showing a reduction OF sS,206.0 900. and also
statement OF the value OF their assets
nj the market price OF October !. 9oa
and April ! n 9of si.$&.
Major Dooley Argues. ..s;
m 4 .or, j an,es III; Dooley. OF Richmond,
Va. made n stronH argument to- s6the
creditors In favor Of granting the exte
sion He iRelf at lenEt mon the Hbl III ltS !
\ nd Integrity Of lie two nrrls al nd he To-
suits that had been accomplished ed by them.
II q pointed out to the creditors that the
extension would Insure the continued liza 1
ybllty A Of y the members Of % the firms
and their personal efforts to liquidate their
indebtedness whereas, the failure to grant
the extension would prove very detrtmen-
:tnl to the interests OF the creditors rs We'll
as to the firms. S5 5F 1
Tile menting was largely at TENDED q pv
the representatives OF banks, trust com
ranies and individual creditors from Nv
York, Pennsylvania, Maryland, Virginia
and Kentucky. After a thorough discus
sion OF the whole subject, on q rising
vote 1t was unanimously resolved that y
was to the interest of all of the creditors;
that the extension recommended by the
ADVISORY Committee should be granted
The utmost harmony prevailed and ex-
,presslons OF confidence In the two firms
and in their ability TO pay their obliga-
tions In full. were general. It Is believed
that the assent to the extension VIII pc
ractically una nimous #
Mr.. Williams's Statement.
Mr.. John SHELTON Williams, who attend
ed the meeting. said tonight: If the
twelve months extension. which the gem
eraly meeting OF tho creditors OF the firms
OF Messrs. j ohm IT, Williams & Sons anc
j. VIM. AIlddendorf &. Co., held to-day
unanimously approved. becomes effective
and the assent of those crcdtor not re.
presented at this meeting Is secured, 8
confidently believe that both firms vii
pay their Indebtedness dollar for dollar
and have considerable surplus left over