Fitzgerald enterprise. (Fitzgerald, Ga.) 1895-1912, 1905-10-21
I'LL CUEOVl kECE|vERSHIP.


the city this week in the interest of certain
to have the work of the Receivers reviewed by
an auditor.
The Enterprise, it's editor and it's readers,
or at least large majority of them, very nat
ura1ly feel an interest in the matter since large
number of them, who are in distant states, were
originally stockholders of the Company. and as
the Colony Company has always been considered
an object of common interest to all the people OF
this community.
The reviewing of the acts of Receivers is
not an unusual proceeding in matters of this
kind, it is following the usual policy OF the law
and what has become the general practice with
banks and other Institutions; county officers and
others, acting in fiduciary capacity. We are
not willing to believe that majority OF the Re-
ceivers really object to careful scrutiny OF
their acts but there seems to be hidden resls-
tance that amounts to strong opposition.
The Enterprise and its readers would be
glad to see that the Receivers have done their
work properly, and the only way to satisfy the
public on that score, since so much has been
said on the subject pro and con, is to have the
whole of their transactions reviewed by the
court or some proper officer, ana 1t appears
now that that will be the outcome unless the
Receivers stubbornly resists the application of
these stockholders who, it is alledged, have
really not been represented since the receiver
ship was allowed by the court, neither by their
counsel nor by counsel employed by the Com
pany.
The several papers filed in the case from
the very day of the temporary recievership make
interesting reading and we regret that we can
not publish many of them verbatim, but they
are entirely too lengthy, would fill many issues
of the Enterprise completely.
The first paper that made its appearance in
court after the editor of this paper and Sidney
Clare were appointed temporary receivers, is
one of the rarest in the long record that has
been made in the case, or in any case that has
come before the courts of this county, and &C
cording to the contention of the attorneys apply
ing for an auditor it may be said to be prophetic
as they claim that the final outcome sustains the
prophesy to the effect that the property has
been sacrificed to persons very close to some OF
the Receivers. The paper was filed at the
January term 1902 and is largely an assault on,
Temporary Receiver Clare. The paper is an
answer to the bill applying for receiver, and
drawn after the editor of the Eenterprise and
Sidney Clare had been appointed temporary res
ceivers.
The first six paragraphs are denials of
the allegations contained in the application for
Receiver. Then follows short resume of the
history of the Colony Company and how we hap
pened to be here in the piney woods of Georgia,
and how the Colony was started off, particular
ily how the directors were or were hot, selected,
or elected, and how they managed affairs before
the municipality was established or the city
chartered. Then way down in paragraph XIII
(the supposedly fatal number) the paper takes
up the petitioners, or applicants, for receiver
and tells the court who they are, who they rep
resent and their purpose in the application for
receiver 1t is boldly charged that "one Sidney
Clare, the bitter enemy OF WEIGH and Taylor,
and who has but little love for WISE" seeks by
this method TO secure lands that he has made
futile attempts to buy from these directors and
managers of the Company (which offers said d.
rectors have steadily declined for the reason
that the prices offered were insufficient, and in
order to satisfy Clare's craving land hunger"
The paper pays its complimentary to Chas.
A. DeLang and Danl Mahoney and other dam
aged" shareholders.
Then paragraph XIV, follows in FULL
Defendant alleges that the allegation
that it is insolvent is false, and that it
was known to petitioners to be false
when made. That the assets of the
Company exceed by many thousand dol
lars the total amount of its liabilities,
even including the total amount of its
outstanding stock. Defendant shows
that the total amount of its liabilities