New-York tribune., 1908-12-27
GROWING ACTIVITY AND VERSATILITY OF THE RECEIVER

81, . o+io- ~ the court A referee was
4naIIv appointed to look into the es'a li'l'.'
and IN his report the business was ~Ouno 1p gu
-. ground that II -onfIicted with public rao1ais-
-. c,.,---s, = prohfbirionist. used 70 be not
fit+ta. s+77bsrra~xed when his court was called on
7o manage saloons and brewer1es- He uspa'F W.
s-ruc+Ad the receivers To sell out such businesses
IN 4 hurry
We've been CONCERNED IN the Management '-
--,s-,- s-+erorises said member cf the law nr07
Of Myers & Goldsmith. everything from 4 holT'
TO Z women-s tailoring shop We 'ad = note u
F--,e-s-t House and also iron fou1dT- plTli4
-be last vaar Ue br4nChed out as q coTstrHc ,i'i
company and Quilt several hreakvat9rs T27 ne
--7i+A5 states government n Point judith tfp-
MAY and Cleveland. We borrowed St'-''' on
reca1vere. certificates and collected half million
dollars pay from the government. thousands on
men we're employed Many businesses Ja' i.i
lack of ready cash but the receiver can issue 'Nr-
tffcatez which are good as gold s7d carry on
the business 4 lot OF anarchist srIptoyes "-'
refuse accept the promises or in4 ooSS anu
begin 10 carry ~ goods in leu of unpaid wages
zrj1f generally listen 70 the receiver. who mas
court authority Sometimes We have 20 call IN Ine
police 10 curb riotous employees and more often 10
hold hack p mob of customers from advertised
sale The great thing for receiver 20 do is TO
keep the business a going concern for the good
Will * generally the most valuable asset
James y. Rosenberg. of No. no Brosdway- aye-rNd
that the enterprises he had helped 70 UFanaE- b.
court order included
Sho ing
And cabbaEes and sings
There vas an undertak kers' supply house Brook
Ivn which had among IT'S assets sample corpse
preserved by a secret process The receiver vas N
= guaudary the disposal OF this asset. Toneer-
ing whether he should advertise it with ? job lot
or fixtures OF offer II museum Even more
embarrassing than a corpse vas the problem Of
continuing Croatisn daily neVspape-- the "Nsrodni
List" All asset remaining from the Frank ZottI
banking and steamship ticket business The re-
ceve~ decided however 70 publish the paper, and
is now non1inauy running IT. while unaware Of its
rra..se t-roatian contents He has depend rhe
good taith oS the editor Most receivers would shy
at a newspaper published in the English language.
regarding it as an extrahazarGous enterprise. like
dynamite factor or the jungle beasts lefr over
from a Wild West show. \ chain Of 3 and 70 cent
stores and chain OF bucket shops located through
out the countrr have been managed by court of
aciais Tt is said the court discontinued tile ~am-
bling feature of the business.
The fees Of federal receivers are said to svera.e
less than those IN state co'--ts- A record bill %
$4,000 for about i've months work was put in by
the three receivers for the Westinghouse COM
panies To ex-Mayor Hugh Grant H00Go3
awarded bv the state Supreme Court for his
organization OF the ST. Nicholas Bank An agree
ment was made between counsel and Deputy At
torney General that the three receivers OF the
Knickerbocker Trust Company should receive
$4,000 each and their lawyers $4,000 additional
About i've months work involved. Justice
Gaynor reduced the ceceivers fees TO $4,000 apiece
and said that the amount allowed was $50 grossly
excessive as amount to suoliation or the assets
OF the trust company" Lawyers argue that their
Office expenses are great and that private practice
Yields better returns tHsa the sums the courts
usually allow. The receiver OF large business
must practically give up all other work
The Metropolitan Street Railway has been man
aged Ter about fifteen months by Circuit Court off,
cials Judge Lacoube Is anxious to clean up the
A tl,a -r,. Eg III
der but the plaintiff 5ondhoders hang back in
hopes or realizing larger prices IN the future.
There are several classes OF creditors all OF whom
are eager 20 conserve tneir own interests regard
less OF the rest and the result is an interesting
taugIe = library OF testimony has been taken. and
the receivers are kept busy fencing With state
authorities trying 70 extract a few millions
from the former owners of the system The Sec
ond Avenue. Third Avenue and Fulton street lines
are also conducted nv court representatives. The
employees or ali these lines hardly aware 10
chanE~ ia management. while the travelling
public cliags To the familiar strap and is satisfied
except when 1t thinks about ths cuttIng OF OF
transfsLN