New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-04-24
ENNIS & STOPPANL PLAN
NezC Counsel at York on Scheme
Examination Postponed.

r., -o-,L,a ohsnca IA being given to the bank
runt firm OF Ennis & Stoppani to work out 1aVoEa-
bic terms settlement with the creolloIH 40 Ia
end the examination Of witnesses WHICH we" y
have taken place before United States Counls
sioner Alexander yesterday afternoon was PoS'-
poned until Tuesday. at p m
Lindsay Russell receiver; Ralph Wolf his coun-
sci and representatives OF some OF the creoltoFs
aaa tba+ they would have a much better chance
to get I'm the assets OF yhe firm II the neInoers anu
others who have a knowledge OF is A4lSiAS
not subjected to the publicity OF eTsIninAnoh unN
oath. So long as the receiver continues 70 ser a4I
the information he asks the eAa-l4l-4~N00 '
will go over indefinitely
Irving L. Ernst Of the law firm OF OIeott' 1EuOel
Rouyuge & McNanus. the new couhsel ioE tHo
hanlrurt firm is at work q scheme under Whlch
the firm might be able TO resume business ne
homes 10 be able to present Il TO the creators Oy
Monday Under the law a bankrupt cohoeIA CO..
be taken out OF the hands OF receiver II tne Gun
sent OF q majority OF the CREDITORS OO'h HS ~
amount and number. Is obtained
The plan OF Mr.. Ernst is 70 onor me CTe"ito's
small cash paynent say. 10 Is per cent. and give
than for the balance OF their claims STOCK IN tho
concern which would he incorporated 20 the Ainoo'
NJ the creditors claims These certificates OF STOCK
would be exchangeaoie TOT Ger "
be paid In instruments -,
we believe" said Mr.. Ernst last night ulA'
~ the firm could resume II would De aoIe 10 re4@'
much more its assets than couo tne s l
because there are always people VINO Tou4d NOT
,aus the trouble to pay receiver when they might
settle I'D with the firm on account OF past business
connections. The plan l am WORKING GU. "Out
mean that all the assets would be turned PACK %
tho Arm or CORPORATION which wouLd Dc IoIIueN
-. .ho -,onav needed to mako the cash pay
r,ents have not been able TO Work OUT tle a.
tails but hope to do so in time to submit the pA'
for the consideration OF Mr. Ennis and MI STOP
pant on Sunday. II they agree TO II We VIII
Il 10 the creditors on Monday
r5.-hart A Hem, OF Heyn & Covington couns7'
for some Of the creditors. who was sppolh'eo %,
man OF the creditors committee YesteroAy % -
ceIyer Russell said he could not talk ABOUT sne
scheme OF Mr. Ernst unIn BUILD
was made - -. IN
NJ stocJx brokerage firm has ever been put o..
fla feet again by such plan, but II Is no" -
IN be working successfully in the reorsah'@N'1
of large manufacturing concern 49,, -.
Other members OF the creditors commute ,
E-r.st Surfern Of Surrern & Son. the account
who have been at work on the DOORS u N'o -
rrpt firm; Augustus H sklen. lawyer -
sentinE number OF creditors FRANK ~ -
g banker and broker. and Charles SihCeIe' 40
raoresan+s other creditors in addition 10 hSeiA'
The committee held a short meeting lot OF sd"'10
ton and adjourned until to-day at noon
Neither Mr.. Ennis nor Mr.. otoppanl 10 Co.
have his whereabouts known. Mr. Russeh oe-
-. he can dssl with them better II they are
nrotected from the individual creditors ne Hau
a long talk with them over the telephone SeS'-1
day afternoon ,-. ,r,I,
y, Mr. Russell at 1920 o'clock this morning AHIS
represents the cost OF $500 shares OF ANA
Copper 1000 Brooklyn Rapid Transit ana ~ [NuOoo
first preferred a the time in 1914 "hei 0eili
1rCo-rar xvas s,1nposed to have bought the STOCK
according TO blind account No SSS. MI. huSsei,
would not say whether he had actually iounI
stock bought for the Senator at that uIne OF No.,
gone into the market and purchased II al P
nrtcas In either case the transaction VIII repre-
sent a clear gain of $4,000. as present prices Oh
the stock are that much below what they "ele
when the Senator gave his order to ouy MI
Russell has stipulated that the money the oel@''l
,s 10 nav shall be in form of certified cnecA-
r w Graves OF the New York Stock Exchange
firm, OF f. W. Graves & Co, who was unoer
subpoena to appear before Commissioner Aiexanoer
IN the Federal Building yesterday. had shsht
operation performed at a private sanatoIluI- 20 :,
g. soid IN hs aware OF some OF the methods OF
the bankrupt firm