New-York tribune., 1908-08-12
CREDITORS TO HELP.
s5,;eoru Committee Viii Hid IN
Onerating PiHsbury Company.

,.,-o1is Aug I1-With the consent and upon
-, -.,or,-1erdation Of the receivers Of the PMS
- vvsshbu-n Flour Mil Company an ADVISORY
-,t--ea q creditors IS 10 be appointed 10
,s- -ha receivers. This course was oecideq upon
: -,-e-inE Of Minneapolis and s.. Paui banh-
:. commercial paper brokers and other credltors
:. =. ,o,,7a7v. held in the Office Of F. A Cham
,.ssir president Of the Security Bank OF Mn
..s,ois late yesterday afternoon A = I'of1ng'
go F77lsh-rv and Albert G Cobb. the re-
- ~ -ha company attended the meeting, as
AZ slzo Charles Hathaway and Charles W Foioes'
= r5.-rgz-sv & Co. New York brokers, and other
interested persons
Two OF three Eastern bankers as vel as repre-
s-+z+ivss of the Northwestern banking interests
sss large number Of individual holders Of PMS
.n-v-7vsshhurn notes who are scattered through
-. -bs East and the Middle West, will compose
+bs committee L is said that the personnel OF
"a committee has been practically decided upon
Int Il vii not be announced until the Eastern
bankers who have been chosen have accepted:
r-o-, statements made yesterday both by the re-
e4--s s7H others interested. II is recognized that
-be Continued operation OF the mills and the sale
4 their n-odr1ct are necessary the preservation
~ -ts --op4-tv Of the creditors and the uainten-
snce q the oornpany,s assets. and bankers hold
e-s ~ the cor7parly's commercial paper and the
other uartes interested purpose 10 aid the receivers
IN keeping the mills going
The busiest time n the milling year is approach
ing a. the fa crop Of grain viii soon he moving 10
ths mills and trade is said to he in healthy con
dfron. Funds can easily De obtained for the op-
era-ion n the mills There are s3.so0,e0 worth Of
ras-chandise bills and accounts receivable. which
have become ca sh asset for the conduct Of the
business under the reoeivership, and. in addition
the receivers are empowered 10 Issue receivers Ger
tfacarss which take precedence over all other
claims
L vas learned today that Alfred F Pillsbury
znd Ralph Whelan intended to leave London to-
dsy and sail tomorrow for America They have
beer conferrng with the British stockholders, and
nothing definite will ne mapped out as to reorgan-
ization ~ the company until their return
AnciIarv receivers for the company were appoint
ed in New Jersey and Massachusetts to-day
On Application Of A c. Loring, Charles s. Pills
bury and Albert Q. Cobb. receivers for the Pills
bury-W'ashhUrn Flour Mills Company. Ltd Judge
Pgrdy fn the United States Circuit Court. to-day
appointed Charles K. Amsden and Henry F Doug
las receivers Of the Minneapolis and Northern Ele-
Tstor Conpanv. 2 subsidiary corporation. Bond
was required in the Of $4,000 The Mime
apolis and Northern Elevator Company operates
the one hundred elevators in Minnesota and North
Dakota that supply the Pillsbury- n ashburn -four
NILS with grain
Boston. Aug 1.-THE bill Of complaint fled here
to-day for the appointment Of ancillary receivers
tos the PilIsbury- -Washburn Flour Company. OF
Minneapolis, alleges that the company has obliga-
tens due this month amounting 10 s9450eo: in Sep
tsnber 3 o00ooo: in October. 2l50oo in November,
Slosa and IN December. sS71c0o- Against this. the
hl states the company has quick assets OF $780,
%, which include but small amount OF cash.