The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-02-04
Millions Of Fresh Ca pitaI TO
Be Spent In Improvements By
Reorganization Committee
TRUSTEES AND APPRAISERS
NAMED IN FEDERAL COURT
All Creditors Were Represented at the
Meeting Observation-Disclosures
All the Properties VIII Be
Kept Intact.

The plants of the Southern Steel COM
pany, which have been idle for several
weeks, will be in operation again at an
early day. At least such will be the case
Aif the plans of the reorganization commit
tee, including large New York interests,
work out, and it is believed they will.
Judge Oscar R. Hundley took up the
matter of the election of trustees and
appointment of appraisers in the Southern
Steel bankruptcy case yesterday morn
Ing, every one of the 600 cerditors of
the bankrupt being represented either in
person or by attorney at the hearing.
Trustees and Appraisers Named.
w. H. Hassinger, John E. Morris and
T. Stonewall Kyle were elected as trus-
tees by the creditors, which election was
confirmed by Judge Hundley. J. w. Nc
Queen, w. NJ. Drennen and George Shir-
ley were also appointed as appraisers of
the company by Judge Hundley late yes
terday afternoon.
These six men are well known for their
business abilities Mr.. Hassinger was
formerly vice president and general man.
ager of the Republic Iron and Steel COM
pany interests in the south. Mr.. Morris
is associated with the Tyler Grocery COM
pany. Mr.. Kyle is well-known business
man of Gadsden, where some of the bank
rupt concerns most valuable property Is
located. Mr.. Mcqueen is vice president of
the Sheffield Steel and Iron COM
pany. Mr.. Drennen is a former mayor OF
Birmingham and prominent in business
circles. Mr.. Shirley was formerly with
the Sloss company and is now a we'll
known mine operator.
Asked For Postponement.
Special Master Sterling A. Wood presided
over the meeting of the creditors during
the election of the trustees, after Judge
Hundley had ruled that the election
should be carried on over the protest of
Attorneys Lee Bradley and Leo Ober-
dorfer, representing certain creditors.
Messrs. Bradley and Oberdorfer asked for
a postponement on the grounds that the
bankrupt company had not been thorough
ly examined and that some of the cred
itors had joined together in an effort to
run things their own way.
The election took up all of the morning
session and Judge Hundley announced
his confirmation of the election at the
afternoon session. The appointment of
the appraisers, as provided for under the
bankrupt law. was also announced by
him, Judge Hundey giving this matter
patient and careful consideration before
naming them.
One of the features of the hearing was
the motion made by w. PIG. Harding.
president of the First National bank, and
who represents a large block of the cred
itors, which motion was seconded by Au-
gustus H. Benners, attorney for the petit
toners named in the first petition, and
which was unanimously passed, indorsing
the work of the. receivers. This motion
was as follows:
THAT the thanks of the unsecured cred-
itors and ali parties in the interest of the
Southern Steel company, are due to and
are hereby rendered to 7. G. Bush, Ed
gar L. Adler, J. o. Thompson and Elijah
G. Chandler, as receivers of the said COM
pany, who were appointed by United
States Judge Oscar r. Hundley, for the
prudent, careful and able management
of the trusts Sonfided to their keeping"
Courtroom Well Filled.
The federal court room was full of
creditors, attorneys and different repre-
sentatives of creditors when court con-
vened at 10 o'clock yesterday morning.