The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1910-05-05
LITTLE LEFT FOR CREDITORS
Kenosha Creditors Expected to Go To-
gether in an Effort to Get Something
From Slender Assets Of Former Pub
lishexs

William L. Odett, formerly editor
and publisher of the Kenosha Daily
Journal and before that manager of
the Elgin, (Ill.) Press, has filed vol
untary petition in bankruptcy in the
United States Court at Milwaukee and
within few days creditors of the
former publisher in Kenosha will re-
ceive a notice Of the meeting of the
creditors No statement has been
made of the liabilities and assets of
Odett but it is said that his liabili-
| ties will be several thousand dollars
while the assets for the creditors to
realize on will be little or nothing
The Kenosha Daily Journal suspended
publication early in January of this
year after rather stormy career of
four months and at the time the pub
LEGATION was suspended it was suppos-
ed that Odett had paid practically all
the claims that were out against him
with the exception of number of
claims for labor. Men who had work
ed in the Journal Office remained in
Kenosha and they have since been
making an effort to collect their claims
or a part of them from Odett who,
after leaving Kenosha, went to Mar
quette, Mich, where he was engaged
in getting out especial editions for
Michigan publishing companies.
Nothing has been given out as to
the Indebtedness of Odett in Kenosha,
but since the Journal suspended pub
LEGATION several people have come to
Kenosha to collect claims, but they
were advised that it would be use
less to bring an action in the courts
on account of the fact that Odett had
no assets in this county.
The financial failure Of the Journal
was complete and the sale of the plant
by the orders of the sheriff after a
chattel mortgage had been foreclosed
did not bring money enough to meet
the claims of the people holding the
mortgage and a deficiency judgment
was taken against Odett. At the time
the plant closed down the amount
claimed by the employees of the paper
was more than 5000, but small por-
ton of this was settled by Odett lat
er. Small claims for advertising held
by the Journal company were turned
over to the Workmen, but in most cases
it was found that these bills were
worthless and the men who had worked
in the mechanical department of the
plant were unable to make any collec-
tions on them.
When Odett came to Kenosha he was
associated in business with A. l.. Leo
pold of Chicago, but Leopold retired
from the business within a month af-
ter the publication of the paper was
started and sold his interest to Odett
for $1,000. 1t is thought that Leopold
will be one Of the big claimants against
Odett in the bankruptcy courts as he
held that his claim on the plant was
a lien prior to the claim of other Gre
ditors. AS Leopold had joined with
Odett in the purchase of part of the
equipment Of the office the former
owners of the machinery have since
the sale of the property sought to col
lect their claims from Odett and Leo
pold claiming that both were liable
for them.
Kenosha creditors of Odett and the
Journal have as yet taken no steps
to appear in the bankrutcy proceed
ings, but it is possible that they will
pool their issues and seek to get a
small dividend from the assets that
may remain.