The Montgomery advertiser., 1905-08-22
MIR. BILLING
 A BANKRUPT $ Adjudged by United
 States Court. THE CREDITORS TO MEET Affairs of Josiah Morris & Co.
 to Be Settled. Schedules of Assets and Liabilities wm Be Filed, and Trustee VIII
 Be Selected to Collect
THE CREDITORS TO MEET

F. M. Billing, who did business in Montgomery as Josiah Morris & Co.,, bankers, and suspended business in January, 1901, has been adjudged bankrupt by the United States Court and has been directed to file a schedule of his assets and liabilities with the court on or before August 31.
 This means that creditors of Josiah Morris 6 Co.,, must look to the United States Court for adjustment of their claims and that agreements made be- tween MT. Billing and the creditors of Josiah Morris & Go. are null and void.
 January 15, 1903, a petition that MT. Billing be adjudged a bankrupt was filed in the United States Court by Greil Bros. of Montgomery, the Mer- chants National Bank of Cincinnati and the Central of Georgia Railway Company, creditors of Josiah Morris & Co. In this petition 1t was shown that the bank was due Greil Bros. $2,500, the Cincinnati bank $2.000, and the Central Railway $1,so0.
 Mr. Billing Contested.
 MT. Billing contested the petition saying that if given time he would be able to pay his creditors. It will be remembered that soon after the bank failed an agreement was entered into between MT. Billing and the creditors to pay claims in semi-annual install- ments. Default has been made on some of these payments. The largest credi- tors of the bank were the city and County of Montgomery, each of whom had approximately $1O0.0O0 on deposit in the bank at the time of its suspen- sion.
 In their petition against Mr. Billing Greii Bros. and the other two creditors alleged that he had committed an act of bankruptcy on December 22, 1902. hxr fn fn pox DnS fFl real estate in Jefferson County with intent to prefer Mr. Rushton over his other creditors; and that he paid to other creditors whose names are un- known to the petitioners a greater pro portion of their claims than were paid to other creditors. with intent to pre- fer them.
 Statement by Ar. Billing.
 The matter was contested by MT. Billing and has been pending some time Finally Mir. Billing gave his consent to the adjudication in the fol- lowing paper filed with the Court, which sets forth his financial condi- ton:
 ITO the Honorable Thomas G. Jones.
 Judge of the United States District
 Court for the Middle District of
 Alabama:
 "The undersigned, F. M. Billing. against whom a petition was filed on the 18th day of January, ltO0, asking that he be adjudged an involuntary bankrupt. respectfully showeth unto your honor: That on account of the changed condition of affairs affecting his estate, and believing that it is to the best interest of his creditors so to do, does hereby internationally con sent that the court may enter up an order adjudglng him a bankrupt.
 'Tn taking this action the under signed feels called upon to state to the court and to his creditors that in so doing he denies that he, at any time, committed any act of bankruptcy, nor has he any creditor to obtai many pref erence over any other creditor; but since the filing of said petition some few of his creditors have obtained judgment upon the unpaid instalments due on the agreement with all of his creditors, and being advised that an execution issued under these Judgments could be levied on his property in the event the petition In this case should be denied, he prefers to be declared a bankrupt rather than allow the impa- tient creditors to get any advantage over the great number of his creditors who have been so patient.
 Acted for the Best.
 While the undersigned feels greatly disappointed that he was unable to meet the instalments at the time spec flied in the agreement signed by all the creditors, as they became due, he feels That all of his actions up to the present time have been to the best in- terest of his creditors, and that his creditors have obtained more by their decision to allow him to try to work it