The Union times. [volume] (Union, S.C.) 1894-1918, 1906-03-16
UNION COTTON MILLS.
First Meeting Of the Creditors Of the
Bankrupt Concern Held Yesterday
in Union.

| Ill UHl0n. s.-g
Union, March 10. Special:
The first meeting of the creditors
OF the Union cotton mills, re-
Gently adjudged a bankrupt, was
called to order at noon today in
the mill Office by Referee E. w.
Hughes, At the outset, the
referee announced that he was
ready to receive and file any
claims that the -narties dasine .11--sv
present, and a considerable num-
Der of these were presented, the
majority having already been
filed.
The reading of the schedule of
claims against the bankrupt COM
pany was then taken up, these
liabilities ranging all the way
from few dollars to that of
Fleitman & Co., of New York,
for 1915, 900, reaching a total of
So, 3,244, ,S71. The schedule of as
sets was also submitted, showing
an assessed valuation of $2,554,-
221.
There are other claims that
were not submitted today, which
will increase the liabilities by
several thousand dollars. Of
those filed the Union Cotton Mills
Company, recently Incorporated
by the reorganization, committee
owns forty five, amounting to a
little over $3,OO0,OOO.
The matter of electing a trus-
tee to represent the creditors
was next taken up. The referee
announced that all claims pre-
sented would be allowed for the
purpose of enabling the holder
to vote in the choice of a trustee,
but that any and all claims were
subject to attack at a future
time, by anyone interested.
The first question was whether
one, or three trustees, should be
appointed. Mr.. Barnwell, of
Charleston, suggested three, but
this proposition was overwhelm-
ingly defeated, the meeting de-
Gliding in favor of one as more
conducive to satisfactory man.
agement. Edwin w. Robertson
was then nominated. Mr.. BarnA
well, on behalf of h sown clients
and those represented by Mr..
Moses Israel, entered an earnest
protest against the election of
Mr.. Robertson, not on personal
grounds, but for the reasons that
!, MIR. Robertson was president of
the bankrupt mill, president of
the Buffalo cotton mills, in charge
of the Union and Glenn Springs
Railway and the Neal Shoals
Power Company, and that the
relationship was such that deal
ingS between these concerns and
the bankrupt, and Also the deal
ings between the bankrupt and
Fleitman & Co. should be closely
scrutinized. For these reasons
, Mr.. BarnWell did not think Mr..
Robertson could be an impartial
trustee.
The matter was then put to a
ballot, and Mr.. Robertson was
elected, receiving the vote of all
the creditors but four, whose
claims aggregate $88,
Mr.. BarnWell announced his
intention of contesting the ap-
pointment of Mr.. Robertson at
the proper time, before Judge
Brawley. Messrs. Abney and
Townsend, of Columbia, while
not entitled to vote, because
their claim was in dispute, sided
with Mr.. Barnwell.
, Mr.. Robertson was notified of
his appointment and accepted
the trust. His bond was fixed
at$25, 600 and has been furnished.
The meeting adjourned subject
to the call of the referee on five
days notice to interested attor-
neys.
The lawyers present from
distance were: Proctor, of .Bos-
ton, representing the Union Cot
ton Mills Company; w. D. Mel
ton, of Columbia, representing
the bankrupt mills; Messrs. Alb
ney and Townsend, of Columbia;
Nash, Howard B. Carlisle and
S. Il. McCrary, of Spartanburg;
n.a1 Il -