Weekly Arizona journal-miner., 1907-12-04
REORGANIZATION OF SHELTER
co. Is PLANNED.

rams looking To the reorganization
Of the Arizona Smelling company.
whereby the indebtedness Of the com
pany may be paid off and operations
nj the Humboldt plant resumed, are
now being worked out and IL II pos.
siblc that the smeltcr city, in the not
distant future, may again become the
scene Of activity It was before the re-.
cent shut down Of the smoltcr.
| AZ present these plans have not been
worked out in detail sufficiently 10 nj.
low Of a definite statement being made
regarding the intentions of those con.
stituiing the company, but il il known
that those in Prescott In closest toset,
with the conditions Of the company
take n very roscate view Of the future.
Yesterday, after delaying the mat.
ter until the arrival Of j: Kearney
Rice, recently appointed receiver for
the Arizona Smelling company, and
the Consolidated Arizona Smelling
company, the latter holding company.
Attorney Norris took up, in the district
court the matter Of the appointment
of Mr.. Rice M receiver for the com.
pany's property In Arizona, 20 facili.
tate the rcceivcrship created by the
New Jersey courts, in which state the
smelling company Incorporated.
| Attorney General clark, represent
ing &. q. fenncll, the Bank Of Arizona
and otncr creditors of the company,
who have filed liens on the property.
said he understood the company intend.
ed fighting the adjudication In bank.
ruptcy, and was preparing to show It
was solvent, and that in the event n
receiver was appointed his clients
liens would be dissipated. lie wanted
time in which TO 60 into the matter
thoroughly and determine whether or
not he would oppose the appointing Of
n receiver. District Attorney Nor.
rison, also representing n creditor Of
the company, said he had been given
no notice 81 the intention To file an
application for n receiver. and he also
asked that the court set the matter
over until next week.
Sheriff Lowry, who wns In charge Of
the property, tnrough the liens upon
IL, asked, through an attorney, that
should the court decide 20 appoint q
receiver, his fees In the case be or
dered paid before the receiver could
take charge ~ the property. The cOur,
responded that the sheriff would hsv,
TO look 10 tnc creditors for his fees
whercupon Attorney Clark declare,
that in this time Of financial stringcnc,
that was serious matter, pleading sIs'
that the court defer u decision unit
Monday.
After making the statement In opei
court that his honest opinion was tina
the appointment Of n receiver woul'
facilitate the company in cffocting IN
proposed reorganization. whereby sui
fcient funds would be obtained 10 pa,
the indebtedness 81 the company nm,
once more place the smeltcr in opera
ton. Attorney Norris asked that tn
matter he not delayed any longer tina
was absolutely necessary, nv ihos
back Of the company were powcrle.
20 proceed With their plans until the
had received word the receiver wa
appointed.
General Manager Oman, 81 IN
smelling company. who Was In cour
favored the appointment o. Rice q
receiver, and ~ told the court. who. NJ
on the showing made. appointed RE
receiver. with bonds Of t75.OOl
stating. however, that the appointner
was tentative, and that II proper show
ing was made between then and MOI
day, or Wednesday. at the latest. VIII
receiver should not be appointed. b
would rcseind his ORDER.
A stated previously IN the Journa
Miner. Mr. Rice had already heon NJ
pointed recciyT for The company bot
IN the New Jersey and New Yor
courts, aud 'ibe application for his NJ
p5iutmcnt as receiver for the con
pany In Arizona was merely TO plaC
him Ia charge ~ all property owne
by the company, here and In New Yor
aud New jersey.
A society girl in Prescott Gid Ieigi