The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1907-09-19
RECEIVER is NAMED
Milwaukee Man Will Take Charge
of the Affairs Of the Visible
Typewriter Company
CREDITORS TO MAKE FIGHT
Liabilities Of the Company May Be
More Than Hundred Thousand
Dollars and Assets Are the
Plant and Machinery

| The Involuntary proceedings in
bankruptcy instituted against the
Visible Typewriter company in the
| United States Court at Milwaukee
late Saturday resulted in Carroll At
wood, Milwaukee man, being named
| by Judge Quarles as receiver of the
company and it is expected that he
will take charge of the plant and the
business of the company al once. A
great fight is expected among the
creditors of the company for divi-
sion of the spoils and attorneys both
IN Kenosha and Milwaukee have al
ready begun the work of securing
claims against the company in order
to control the appointment of the
trustee who will have charge of the
settlement of the business of the de-
funct plant.
While the company hads been in
| financial straits for many months
it was quite a surprise when the
creditors filed the involuntary petit
ton in bankruptcy as it is claimed as
i AdlC a. AQSb Addy IAdI tAAN LII dIdS CHS
of the company were making plans by
which settlement of the affairs of
the company could be made.
! The petition for bankruptcy pro-
ceedings was signed by the Frost
Manufacturing company, of Kenosha,
of Chicago, the claims of the three
/ petitioners amounting to little over
$500. In the petition it was claimed
that the company had already COM
mitted acts of bankruptcy by the pay
ment Of claims of two creditors and
that it was necessary to ask the
United States Court to sprotect the
claims of the other creditors.
A. E. Buckmaster, the attorney for
the company, When seen today stated
that he could not give out any de-
tailed statement IN regard to the COM
pany, its assets or liabilities, but he
stated that the Court had directed
that the lease of the plant, made to
the Earl Motor company, beipreserved
by the receiver. Mr.. Buckma ster
would not state the exact amount of
the liabilities of the company, but he
admitted that they mig ht be in excess
of 500, 600. He stated that the assets
of the company were thessplant, the
patents and the machinery and that
they are very valuable. 1.-The out
standing accounts owned by the COM
pany are said to be of little value.
There are about $50 creditors of the
company and the amount OF the
claims varies from a few cents to
81, 500. The hearing on the appoint
ment of the trustee is to be held on
Sept. 81 and it is thought that the big
/ fight for the assets of the company
will be started at that time.
The plant has been the one unsuc-
cessfu1 venture in the industrial
world of Kenosha duringsthe last ten
years and in that time more than half
million dollars has beens1ost by the
various people who were managing
the plant.
It was the stumbling block for C.
FL. Sieg, who made large amount in
the bicycle business and then lost it
again in the same business. Then it
passed into the hands of A. D. Meise1.
bach, who had been a king in the
bicycle business andswho lost nearly
all the money he hadSmade in bicycles
in an attempt to make the typewriter
business success. When Meise1bacn
found it necessary to take in new
capital E. I'll. Bottum, the we'll known
Milwaukee layer, became interested
in the plant and i is claimed that he
lost $3.50 before he left the active
management of the affairs OF the
company. The latest man to go into
the company was G. E. Hughson, of
Cedar Rapids, Iowa, who came to Ke-
nosha two years ago and who is alleged
to have put $4,000 into the business.
| Nearly all the money was lost expert
menting with typewriters and the
company never seemed to be able to
reach the point where it was satisfied
with the machine.
! Just what will become of the plant
remains to be seen, but it is pretty
certain that it will never be used again
for the manufacture of writing ma
chimes. It is possible that the plant
will eventually be turned over to the
new Earl Motor Company.
NOTICE