Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-01-25
MEN CLEANED BY
VACUUM CO. SEEK
TO COLLECT CASH
Two Hundred Creditors Appear
to Press Claims Against
Bankrupt Firm.

Referee Edwin q. Adams's Bankrupt
cy Court was crowded today when the
! first meeting of the creditors of the
American Vucuum Cleaner Company,
with factory at 90 Madison street, was
held. The American Vacuum Cleaner
Company filed schedules in bankruptcy
in the local district court on January
10, giving total assets of $157, 097.0S, and
liabilities of 5000, S91. %. The property
OF the company is covered by heavy
mortgages in the name of Adrian Riker,
a local lawyer
The election of "a trustee for the
property was prefaeed by an examina-
ton of all the lain submitted by at
torneys representing creditors. The
creditors were divided into two fac
tions, the one led by David Booker
representing the adjustment bureau of
the Newark Association of Credit
Men striving for the election Of
State Senator Johnston Cornish as
trustee, and the other, led by Dewitt
Van Buskirk, representing large cred
itors, favoring the election of three
trustees, Senator Cornish was APP
! pointed receiver previous to the meet
ing.
Mr.. Booker succeeded in having some
$50. 900 worth OF claims disqualified
from voting purposes on technical
grounds. but Referee Adams denied a
motion offered by MIR. Van Buskirk to
take an adjournment. After some dis
| ctission q second motion, made by Van
rJ,,elf,ly that fhraa trnatpeE hQ elected.
was put to a vote and defeated by a
decided majority, The election OF SEN
ator Cornish as trustee quickly fol-
lowed. The bond of 100000 imposed
on Senator Cornish. as receiver, was
continued. Another meeting was
called for Thursday, February II. 1t
is expected that officers of the company
will be examined at that meeting.
The total vote for trustee stood: For
+, Senator Cornish, ia claims, aggre-
eating 1872, 1872. 2S; against, 16 claims.
a~ggregating $10,129.54.
Sor!e of the creditors objected to one
batch of claims a~ggregating $4,000.
David Booker. representing the adjust
ment bureau of the Newark Associa-
ton of Credit Men, was the principal
objector, and the claims were thrown
Out- II 10 DcllSNtd lndt ~ lCihPoioiS
objection of these claims will result in
the s. lection of Senator Johnston Cor
nish as trustee.
1t is said hat internal d%issension
among the officers of the company. New
York capitalists, forced the concern to
the, vail. The officers of the company
are: Edgar T. Wallace, president; Will
lard r. Green, vice-president; c. g..
| n~4a-,-. JkTf1Iio, ~ ,,Arct
treasurer, all live in New York.
On December q the company sus-
pended active work. Wages due its
employees agsresating $4,115.95 had ac-
cumulated for three months previous
and are included in the schedule in
bankruptcy. The summary of the debts
and assets follows: Taxes due the city,
$3.50, 08; wages. $4,115.95; secured claims.
$685. 1926; unsecured claims, $3.50, 900. 01.
Total, 5000, S91. 04. Assets: Real estate,
$100, 600; cash on hand, $5,169.97; bills,
promissory notes and securities. $751;
427.11; stock in trade, $500; machinery,
tools, etc, $1,000; other personal prop
erty, 81, 200. Total, 1851, 097. 0S.
Notices were sent out to 200 creditors
to assemble today for filing claims and
the election of a trustee From the
| SClituulto liz sCltCldi DuSiiiCSo VI liiG
firm appears to nave been of an extern
sive nature; sixteen travelling sales
men, twenty-five general office en-
ployees. forty-two workmen in the
manufacturing department and three
executive officers made up its force
The company manufactured a portable
cleaning device, which was supposed
to ave made a commercial hit"
Among the creditors with securities
Adrian Riker is the biggest figure
Three mortgages on the property are
recorded In his name; n for 10000
on the Madison street property, due
May 10, 1911; another for $1l. 500, on
the Munroe street property, due De-
cember II. 1911, and a third for $2.00).
due December II. 1911. p. ]. Kelly. the
local man. is credited with a mortgage
on the Madison street property, due
August 8. 1912, for $4,000. The main
unsecured creditors are: w. r. Green.
general manager, SIS, 24s. for unfulfllsd
contract with the company: r. Fl
lHealen, sales manager, $4,000, for an
unfulflled contract: American Can
Company. New York. $40. 602. 3S; East
ern Advertising Company. New York
s21, 332.61, and the Faitoute Iron and
Steel Company. of this city. s1,s47.47.
The company was established April
1908. and remodeled the old brick fac
tory at Munroe and Madison streets
Its counsel in the present action is Ed
ward l.. Thompson. of New York city