Coeur d'Alene evening press. (Coeur d'Alene, Idaho) 1907-1929, 1908-07-18
FINANCES FOR
THE LEWIS MILL.
Arrangements Made to Start the
Big Plant Next Week.


viii resume operation OF It's milling
plant and the construction work Of
Its railroad from this place through
the reservation country in the early
part Of next week. A satisfactory
arrangement or settlement has been
reached and will. BY the early part Of
next week. be contaminated between
the company and It's creditors. and
at that time the formal announce
ment of this fact. together with the
further fact OF the resumption OF
business by the company win be
made, and 1t comes as tidIng or
good cheer and JOY to the people Of
the city Of Occur d'Alene
The b. r. Lewis Lumber company
Is one of the largest institutions OF
Its kind In the west. u has been IN
existence for number Of years IN
this eity. and up until the time when
the financial depression descended
upon the country 1t was doing an
extensive and successful business, but
like many another business institu-
ton in the west. 1t suffered from
the stringency in the money market,
and was unable to meet rs obliga-
tions In money payments. The man
agement sought to tide the institm-
tion over the hard time period BY the
issuance OF time checks. but the IN
dustTial depression continued, and
when the time OF their maturity came
the company was unable to meet
them. Other obligations Of the com
pany commenced to fall due. aud in
the month OF April suit was institute
ed against Il by the Exchange Ma
tional bank OF this city, and upon a
petition filed by Il the institution
was thrown into the hands OF re-
eeiyer. After the company went In
to the hands of a receiver other cred
itors commenced suits against it,
among them John Cronan with the
view OF setting aside the receiyerahlp.
The case came before Judge Woods,
but HIS decision was adverse to Cro-
nan. and then Il went TO the supreme
court, which reversed the district
judge, and held that In the eompany's
case. under the laws OF the state Of
Idaho, a receisership could not be
successfully maintained, as the com.
pany's resources showed II to be IN
a solvent condition. After this de-
cision a number OF executions we're
issued against the company By cred
itors, but not levied, as those ut
whose instance they were issued were
given 10 understand that the com
Dany had by far more than sufficient
resources to meet all Of its liabilities.
and that II given time Il would sat
isfy all claims held against II by cred
Itors. Under the arrangements the
present management will continue
the business Of the company aud mat
ters in general will be unchanged
The details Of the settlement and
names OF those interested are not dis
closed at present ewing TO the fact
that all the papers are not executed,
but local and outside people are
financing the deal Certain It Is that
the arrangements have been made
and that the early part Of the week
will witness their contamination.
down 70 the execution OF all papers.
and that at that time the whistle Of
the a. X. Lewis mill will again blow.
the buzz and hum Of the mill machin-
cry again be heard and hundreds Of
laborers who have lain idle since the
closing Of the Institution. again be
given employment The scene
about the whole plant will be one
OF industry and prosperity aud
with the resumption Of work by the
company will come the old time
prosperity TO the people Of Occur
d'Aiene.