Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-09-28
WILL ANY MONEY
Be LEFT FOR Us?
CREDITORS WALL
Continued from First Pnge.)

Osborne, Mr.. Duncan refused to talk
furthe- Bilder & Bilder, counse for
the receiver, were paid s62 for their
services, and Bilder & Bilder, counsel
for the trustee, received SIS. Priority
claims amounted to 800, the referees
expenses We're 1915. and so the cost
of administi atom mounted up 81 the
expense of the creditors.
With the payment of three priority
claims amounting to $142.31, the credit
ors of the International Button Com
pany received but .024 per cent. of their
claims after the defunct estate had
been administered William p. Suth-
erland, ir., clerk in Referee Adams's
office, was appointed receiver in this
case, and he selected Senator Harry V,
Osborne for his attorney. Henry A.
Oetjen was subsequently appointed
trustee. His reports emanated from the
law office of McDermott & Enright, u
Jersey City, also counsel for the petit
tioning creditors.
The International Button Company,
of SO Crawford street, was adjudicatel
bankrupt on an involuntary petition,
November 10, 1909. The scheduled liza
bilities were 81, 935.6S and the assets
$1,120.14. The assets were appraised by
Philip D. Elliot, brother-in-law OF
Referee Adams; Robert B. King and
Andrew Keer at $790.50. Through tn.
sale of the stock on hand and fro,n
other sources the receiver realized
$694.34.
Receiver Sutherland's disbursement
were $121.44, used in expenses. Upon
his discharge as receiver he was al
lowed $77.75 as fee and expenses for the
receivership. His attorney, Senator
Osborne, received $75.45 as fee and ex-
penses.
Henry A. Oetjen was appointed trus-
tee on January II, 1910. His final report
filed November IS of the same year,
shows the sum Of $419.95 turned over
to him by the receiver. Tie trustees
bond fee reduced the balance to $414.9
/ which amount was filed with the trus-
tees report for disbursements and divi-
dends.
The attorneys for the petitionine
creditors were allowed $1,000 for fees,
expenses and disbursements; James d
Carpenter, jr., bankrupt's attorney, got
$50; trustees commissions, $25; referee s
commissions, expenses and disburse-
ments, $7.41, and three priority claims
amounted to $142.31. These sums AM
the filing fees subtracted from the trus-
tees balance left the creditors, with
claims of $2,S27.2S, a balance of S70.4
for dividends.
Summarized. the reports read: Tota'
realized on the estate, $694.34; cost Of
administration, $4S1.55; secured and un
secured creditors received 1912. 10, o,
.024 per cent, for the unsecured cred
itors.
A final report of the trustee, William
Cooper, of the William f. Haege bank
rupt estate, was made before Referee
Edwin G, Adams today by Senator
Harry V. Osborne, counsel for the trus'
tee, in which the senator compared the
criticisms of bankrupt estate admins
trations to the Haege matter. In this
instance a balance of about $50 is left
for the payment of dividends and coun
sci fees.
The allowance of SSH, prescribed by
law to the trustee for his services, wa
termed ridioulously inadequate by the
senator and his own fee should have
been SIS, he declared, while the bal
ance was less than half of that.
Referee Adams ruled that as TIL,
claims amounted to 81, 800 and the cos
of distributing a dividend among thu
creditors would be more than the bal
ance, he would give the $50 to thu
trustees counsel as an allowance.