Norwich bulletin., 1909-02-09

The business of the special session
of the superior court, held in this city
Monday, Judge Milton A. Shumway,
presiding. was opened with a matter
not down on the calendar. Attorney
A. G. Bill Of Danielson acting for sew
eral creditors. requested that a tenn
porary receiver be appointed for the
International Oil Engine company of
Danielson. Attorney Bill stated that
the application was brought by w p.
Hatch, president and general manager
of the company which at present is
unable to meet its obligations but ex
poets that within the period of one
month it may be able to do so.
Mr.. Bill suggested that the court
name Mr., Hatch as temporary receiver.
The board of directors of the concern
desired that Mr.. Hatch be appointed,
and as the general manager he was
thoroughly familiar with the business
and deemed a proper person to act
during the temporary receivership or
until a permanent receiver be ap-
pointed, an action which may not be
necessary, as there is hope of salts
factorily adjusting the company's af-
fairs with the creditors.
Judge Harry Z. Back, representing a
number Of creditors stated that he
had long delayed action in the matter.
He said he was not hostile to the COM
pany and was DESTROYS Of seeing it al
lowed liberal opportunity to eXtricate
itself from the present embarrassment,
but he did not believe that the cred
itors would be satisfied to have Mr..
Hatch appointed as receiver. He cited
a supreme court decision which does
not deem the general manager of a
company proper person to appoint in
receivership. The creditors would like
some other person appointed. Then If
the corporation could right itself in
thirty days the receivership could be
terminated. Judge Back said he be-
Heved such a course would be ap-
proved by +. A. Jacobs and c. B.
Wheatley, both Of Danielson, whose
claims are important and are secured
by a first mortgage on the factory and
real estate. Allowing that funds could
be raised in thirty days, the business
could then be continued. Judge Back
suggested that Cashier W. D. Prince
Of the Windham County National bank
be named as receiver.
Mr.. Bill stated that he represented
about twenty creditors. all, with one
exception, favorable to the appoint
ment of Mr.. Hatch. Judge Oliver E,
Getty of Danielson, who represents
ten othe~ creditors, told the court
that he had held some Of the claims
nearly year. During this time Mr..
Hatch had been in charge OF the COM
pany's affairs and he believed had been
given ample opportunity to make good.
Judge Getty said his clients were not
willing to wait longer for their claims
and agreed that Mr.. Prince be appoint
ed
Judge Shumway stated that he
thought 1t best to follow the supreme
court opinion against appointing as
receiver the general manager Of a
concern except under exceptionally
favorable circumstances and when all
the creditors were agreeable and there
fore named Mr.. Prince temporary re-
ceiver. A few minutes later word was
received from Mr.. Prince that he could
not accept the appointment and Judge
Shumway cancelled it. The attorneys
agreed in recommending John A. Paine
of Danielson for the appointment and
he was named by the court. A further
hearing will be held before Judge
Shumway at Attorney Bills Office in
Danielson Saturday morning at eleven
o'clock Action was precipitated by
NJ. c. Gould & Co, printers, of Boston.
who hold a considerable claim against
the engine company. The claims held
by Danielson attorneys aggregate
tabout $4,000.