Daily press. [volume] (Newport News, Va.) 1896-current, 1910-12-01
Judge Barham's Appointees Re-
tainCharge Of Able Estate.
FEDERAL COURTS RULING
Judge Wsddiii pecidej That There is
No Reason For Him to interfere
company's cre:itorc Share In Corn
pany's Assets Only.
After hearing lengthy argument of

After hearing lengthy argument OF
counsel for the trustee in bankruptcy
and Tor the receivers named BY the
State court. Judge Edmund Waddili,
Jr., sitting in the United States Dis
trict Court at Richmond. yesterday re-
fused TO enter an order directing the
receivers appointed by Judge Barham
in the Corporation Court TO take
charge of the estate of the late James
T. Able. TO turn over all ofSthe prop
erty of the estate TO the trustee in
bankruptcy OF the Federal court. who
was appointed by the creditors of the
James F.. Able Company, Inc. which
is in involuntary bankruptcy.
In rendering his Gecis ion, Judge
Weddill said that he saw no reason
why he should take the matter OF
the settlement of the estate OF the
late Mr.. Able out of the hands of the
State court and he directed that the
trustee in bankruptcy of the Federal
court be on hand at the settlement
OF the estate to look after the inter-
ess of the creditors of the bankrupt
company.
Sustains Contention OF Receivers.
Judge Waddill's decision sustains
the contention of the State court re-
ceivers-W. b. COlona ana ). A. Mas
sie-that the assets of the Able es-
tate and the assets of the James +.
Able Company, Inc, should be segre-
gated and the estate and the bust
ness settled separately. The decis ion
means that the creditors of the estate
will share pro rata in ali of the as
sets of the estate. while the creditors
of the company will share in only
the assets of the company formed
year ago to continue the stationery
and book business conducted for many
years by James T.. Able.
When Judge Waddill's decision be-
came known here last night, the
opinion was expressed by several that
the creditors OF the company will get
very little if anything after the es-
tate is settled up. II is said that near
ly all of the assets originally listed
as assets of the James f. Able Com
pany are in reality the assets of the
estate
Fine Point of Law.
The point OF law decided by Judge
Waddill yesterday was a very fine
one, lawyers say, and his decision
was awaited here with much interest.
Attorneys Allan d. Jones and j. Win
ston Read, represented Trustee in
Bankruptcy w. c. Stuart, and Attor-
neys w. b. Colonna and J. W. Friend
presented the case of the receivers
to Judge Waddill. Attorney r. NJ.
Lett. counsel for the Able family, also
was pres ent to look after the inter-
ests OF his clients.
This case is one of the most COM
pliCated bankruptcy proceedings in
the history of the city. Last Septem-
Der. Attorney ColOnna, representing
several of the creditors OF the late
James +. Able, appeared before Judge
Barham and asked that receivers be
appointed to close up the estate OF
the late Mr.. Able Judge Barham
appointed Attorneys Colonna and
Massie and they took charge OF the
business OF the James +. Able CON-
pany and operated it.
Thrown Into Bankruptcy.
About ten days later, Attorneys Al
Ian ID. Zones and J. Winston Read.
representing some OF the creditors Oh
the James Z. Able Company, appear
ed before Judge Waddill at Norfolk
and asked that the company be piac-
ed into. involuntary bankruptcy. Judge
Waddill granted the request and at
a meeting of the creditors OF the
company, Attorney W. c. Stuart was
appointed trustee in bankruptcy for
NJ
closed.
After his appointment as trustee,
Mr.. Stuart made a formal demand OF
the State court receivers for the stocs
of goods in their hands and other as
sets alleged to belong to the bank
ruptcy estate. The State receivers de-
clined to do this and counsel for the
trustee took the case to the united
States court and Judge Waddiil ruled
against them yesterday.