The Birmingham age-herald., 1907-09-22
SETTLEMENT MAY
 BE REACHED SOON AtIanta-Birmingham Insurance
 Company's Affairs ASSETS MAY BE DIVIDED Mandamus Is Filed Against Monteom- cry Traction Co.-Franchise Pro.
 vides for Free Passes, Says
 the City Attorney.

Montgomery, September 21.-(Spe-
 cial )-There is now in prospect a set clement of the affairs of the Atlanta Birmingham Insurance company. ac- cording to a statement made here to-
 day by Receiver A. c. Sexton, who has | just returned from Atlanta, where he conferred with the attorneys repre- senting the creditors.
 1 MT. Sexton says that he is hopeful
 now of having the creditors agree upon a division of the available as sets, and thereby secure an order from | Judge Newman ordering the payment of the claims upon whatever basis Is agreed upon. If all of the claims are contested the litigation will amount to such an enormous expense that there will be little left for the creditors. There are about 10000 claims, and all of these would have to be heard sep arately.
 The liabilities of the company are about $1,000,000 in round figures. Of
 this amount s750,0o0 is due for fire losses in San Francisco during the
 earth quake, s20o,0o0 for unearned
 premiums paid in. with $5o,0oO miscel- laneous indebtedness.
 The assets of the company are now | about s4oo.00O. and the question now to be settled is whether or not the unearned premium creditors are to be paid fin full before there is division of the assets. This class of creditors are holding out for a hundred cents | on tho dollar, while the fire loss credi- | tors are asking all the way from 80 to | TO per cent Equally divided 40 per | cent would be the largest dividend pos | sible to make.
 MT. Sexton said that all of the se- l curities of tn ecompany are fiilt-edge, and that the income from this source now amounted to about s16.0o0 per an- mum. The operating expenses of the office in Atlanta have been reduced to a minimum, only two rooms being in l use for offices. and only three employees of the very large corps formerly em- p1oyed being retained Book accounts are being collected rapidly. and every thing Is in good shape for a final
 settlement in the event an agreement | can be reached. A conference of the
 
 be held in Atlanta some time within | the next few weeks.
 Creosoting Wood. Demonstrations made at Maplesville | of creosoting wood of all kinds to pre- pare it for resisting the ravages of age fungus recently prove that the treat ment can be applied without the aid ,foI hat bar Of considered absolutely necessary. nec-
 essltating the use of very expensive machinery
 Clerk c. H. Billingsley of the de- partment of agriculture and Govern ment Expert c. l.. Hill returned from Maplesville this morning, bringing with them samples of wood treated by the cold water process. MT. Hill stated that he believed that this Is just as effective as the steaming, as the posts were entirely saturated. Further ex periments are to be made, and if the plan of having but one tank with only cold oil in it Is found feasible farmers will find it within the cir means to pre- pare all of their fence posts, shingles cts, with the creosote mixture, and increase their life by twenty years. During next week demonstrations will be made at Huntsville and Selma, and the actual cost of preparing posts will be definitely determined then. New Hotel Planned. . new ten-story hotel is in prospect here now in connection with the new theatre which is nearing completion The plans are to erect the hotel in the vacant space between Dexter avenue and tn thatre, which sets back ninety feet from the street.
 The location is an admirable one and prominent hotel men of Montgomery blieve that the space is ample for an up-to-date hostelry. The owners of
 the theatre are now considering an of
 fer for the privilege of contracting the h otel on this lot.
 The new theatre will probably be finished by October 20, according to statement made by Manager Jake Wells He claims that 1t will be one of the finest south of New York, and no expense is being spared to make it luxurious. The Bjou and Mont gomery treatres will be closed when the new house is opened.
 May Close Offices. A movement is on foot at the capitol
 to close ell of the state house offices