The Barre daily times. (Barre, Vt.) 1897-1959, 1905-07-10
Receiver Asked for For Conn.
Loan & Realty Co.
MANY MEMBERS in BARRE
Meeting Of Latter to Be Held at Hart
ford, Conn, Tomorrow, to Con-
slider the Condition Of the
Company.

The segenty-odd shareholders ii the
Connecticut Loan and Realty CO... Of
Connecticut, in this city, and smaller
number ii Montpelier, were surprised
last week to receive the following let
ter
Hartford, Conn. July s, 1905.
You are hereby notified that there
viii be meeting Of the shareholders
of the Connecticut Loan and Realty 90.
at Unity Hall, 6s Pratt street, Hart
ford, Conn, Tuesday morning, July II,
1905. at Ill o'clock, for the purpose Of
considering the eondiwon of the com
pany, and, II thought best, To nominate
directors
eWAL Il. JOHNSON, President"
AS none Of tile shareholders had ever
received such notices before and ais they
stated the meeting was for the purpose
of considering the financial condition Of
the company many shareholders began
to make investigation.
A financial paper reaching this city
Saturday afternoon contained this item:
Commissioner of Building and Loan
Associations Of Connecticut, Webster has
asked for a receiver for the Connecticut
Loan and Realty Co, ON the ground
of mismanagement Of the company's af-
fairs. It il not claimed that the COM
pany i insolvent, but likely to be if
permitted to 90 on as at present"
This put new phase on the situation
and there was some scurrying among
shareholders To be represented lit the
meeting and Il. w. Bispee left this noon
with proxies from many Of the local
shareholders to represent them at to-
morrow's meeting at Hartford.
In this connection, one shareholder in
the Connecticut company recently read
an item al another Connecticut company
going into the hands of d receiver and
showed tile same to n. ri Cate. who
receives and forwards the monthly dues
Of Barre members to the Connecticut
Loan & Realty Co. Mr. Cate Immediate
ly began some inquiries into this COM
pany, and among others, wrote To Build
ing and Loan Commissioner Morris G.
Webster for the state 81 Connecticut
Alr. Webster replied as follows
Il am ii receipt Of yours 81 tie Sd
instant in4uifiHg about tile Connecticut
Loan & Realty Co.. of Hartford, Conn.
A44E AA4sAAt&EAAN4AN III t8tAn GglltEAt&X4 Is AM
the present time in the hands of some
New York parties who are also develop
ing tile Columbia Real Estate & Invest
ment company. The interests of tho
Connecticut company should not be af-
feeted III any way by this connection,
and they will not be ii the shareholders
Of the Connecticut Loan a Realty CONF
panY look To the original company for
the return upon their Investment. They
will have opportunities offered them of
exchanging for the bonds Of tie New
York company, very ikely, which In
my Judgment they would do we'll to
refuse. as the assets Of the company
located here promise q return upon tile
investment, not necessarily d liberal re-
turn. but a. much as can be secured
in any way.
MORRIS &. WEBSTER,
Building Il Loan Commissioner.
Hartford Conn
From all the above It would appear
that the immediate danger was from
the onslaught of a New York company
which desires to gobble up the Connecti.
ciit company, and that COMMISSIONER
Webster had asked for d geceiyer to
prevent the present officers Of the Con-
necticut company who are also officers
Of the New York company. from effect
ing such q transfer, and that is probably
what Che meeting viii have to deal with
tomorrow
There are about 70 shareholders III
Barre. holding between 500 and 400
shares, and most of them have been
paying IN 80 cents 4 share month for
between six and seven years. There are
also numerous shareholders il Montpelier
and they are to be represented tomorrow
1t Hartford hy Gen. j. II. Lucia.
General Lucia stated today that the
directors Of the company had been COM
PEELED to resign to prevent the receivers
ship, and that the meeting tomorrow
was 70 elect their successors.