The Birmingham age-herald., 1908-02-18
HDW. CO.
 IN BANKRUPT COURT
Petition Filed In Federal Court
 Last Night
ASSETS PUT AT s165,Ooo
Two Disastrous Fires Followed by the Money Squeeze Prove Greater Storm Than We'll Known Com
 pany Can We'll Withstand.

A petition in involuntary bankruptcy with consent of bankrupt, was filed against the Prowell Hardware Co, last night in the office of United States Clerk Charles J. Allison. The liabilities were listed as $93 900 and the assets at sloo,Ooo.
 The petition was filed about o'clock by Attorneys E. H. Cabaniss and $. J. Bowie. counsel for the bankrupt. It prays that receivers be appointed, requesting that ". H. Kettig and c, D. Thomas be named as such, under -slO,O00 bond United States Judge Sheppard of Florida who is presiding over the local federal court during the absence of Judge Hund- ley, gave a hearing to this petition im- mediately and appointed Messrs. Thomas and kettig as requested.
 The petitioning creditors were the Phil lips & Burtorff Manufacturing Co.,, of Nashville, and the Crane Co.,, and Vim berly & Thomas Hardware Co.,, or Blr- mingham. A largely attended meeting or the local and few out-of-tewn creditors was held at the New Morris hotel yes terday afternoon, at which it was de- cided to file the petition. It was stated at the meeting that the Prowell Hard ware Co.,, had previously admitted in writing its Inability to pay Its debts, and at this meeting it consented to the
 filing of the petition. The creditors also selected Thomas and Kettig as the re- eeivers.
 The officers of the company are J. H Hit of Nashville, president, and R. J. ProwelI of Birmingham, secretary. Jem- ison Prowell was president of the com pany until month ago, when his con- nection with the concern was severed, being succeeded by MT. Hit.
 The Prowell Hardware Go. has been in business in Birmingham for several years, during which time to all out ward appearances it has prospered great ly. Starting with comparatively small capital for a hardware concern, it oper- ated a, store at 1917 Second avenue for a few years. The business soon' outgrew the quarters. and d move was made to 2O16 First avenue.
 After a year or two at this location they bought out the Birmingham branch of the Gray & Dudley Hardware O., who operated stores at Memphis, Nashville and here The Gray & Dudley Hardware Go. occupied a large building at 1S2l-zS First avenue, and did a splendid busi- ness After the purchase the Prowell Hardware Co., took possession of this store. and everyone predicted bright future for them.
 About a year ago the building caught on fire and was destroyed with pract- cally all of the contents. Headquarters were again established at 2016 First ave nue and work commenced on another building on the site of the one destroyed. This building was almost completed when fire broke out in it, burning 1t complete ly down and also destroying the Chail- foux building next to 1t.
 Work was started on it again, however, and headquarters established there sew eral months ago. While external appear ances indicated that a good business was heinz transacted, the financial squeeze of last fall had gripped so tight that the comnanv could not recover, and it has been expected for the past several weeks that it would have to go to the bankrupt courts for a strengthening out of it's bus mess. As the assets are listed at about s72 o0o more than the liabilities, it Is be- lieved the company will pay all of it's creditors in full.