The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-14
RICHMOND IRON
WORKS BANKRUPT
CORPORATION FILES VOLUNTARY
PETITION IN UNITED STATES
DISTRICT COURT.
ACTION is FORCED
STOCKHOLDERS COMPEL PROCEED
INGS ALTHOUGH LIABILITIES
ARE CONSIDERABLY BE-
Low ASSETS GIVEN.

Although voluntary petition in
bankruptcy had been filed In the office
of the clerk of the United States Dis
trict Court last Saturday by the Rich
mond Iron works Corporation, the
fact did not become known until late
yesterday, Clerk Joe Brady was So,
busy with his convention plans that
he had utterly forgotten the circurn-
stances. lie oven did not know what
had become of tho papers in the case.
lie looked and his clerks looked, and
they were about to give UP the matter
in despair when the young lady stenog-
rapher suddenly remembered that the
papers were in Mr.. Brady's own desk
" by yes, they actually were, al
though Mar. Brady had clean forgot
ten that he had placed them there,
and was as much surprised as any
body when he found them. In the
storm and stress OF political affairs.
especially Republican political affairs.
such little thing as petition in
bankruptcy case Is apt to be over
looked, even II 1t should be by the
Richmond Iron Works Corporation,
with assets of $111,35l.90 and iiaoili-
ties of s67.577.96.
Doesn't look as If they had any
reason lQE BO1nE lHtu paAhl oPi1Ss 1oNs
it," remarked Mr.. Brady after read
ing out the figures.
His hearers agreed, and ono sug-
Gested that a few remarks might have
been filed In the form of statement
or that statement might have been
iiled in the form of few remarks-
No. Mr.. Brady declared. neither had
been done.
n. o. Eichsibers Receiver.
But II. d. Eichelberg mas been
appointed receiver" suddenly observed
hr. Brady Frightening up with de-
light at the return Of his recollection
which. apparently. had just come in
little worse for wear as result OF
the convention. but still recogniza-
ble.' yes. Mr.. Eicheiberg was ap-
pointed receiver today-and quaiined.
yes, he quattdcd. ~
MIR. Brady's recollection was grow
ing stronger. having taken little light
refreshment. no doubt.
.fEy the way, went on 3fr. BFAdy.
''the petition was filed by Emmett
Seaton. counsel for the corporation.
The secured claims amount to $4s,-
$3.50, and tie unsecured $l4,s29.lS.
The company has real estate valued
at $4,000 and machinery. tools and
so forth, valued at $500. I have no
doubt Mr.. Eichelberg will be able to
give any further information. Per-
aonaliy l am ignorant of the case, but
l believe the concern mado tho Vir-
gilman automobile.
It proved that Mr.. Brady's oefier
was quite right. The Richmond Iron
" orks Corporation u known a. q con-
Germ which has advertised In the To-
cal newspapers. and In Washington
newspapers of building a Virginia
made automobile which was called the
Nirginian. The plant OF the company
is on the North Boulevard. near the
Richmond, Fredericksburg and Poto-
mac Railroad, and has most impress
sive appearance from the outside.
According to the city directory N.
A. Finn ia president, II. A. McCurdy,
vice-president. and w. II. Woody. gem
eral manager. The city directory.
however, Is In error according to Mr..
McCurdy.
In his Office in the Mutual Building
NJ. McCurdy was most emphatic in
denying that he was an officer OF the
corporation. He repeatedly insisted
that no mistake be made by asserting
that he Is an officer.
He Is Not an O6lccr.
II am not an officer OF the con-
Germ" declared Mr.. McCurdy. over and
over again. please do not make
mistake and put me down as oIticer."
His fear that mistake would be
made was very evident. but.he jaunt-
lily refused to discuss the affairs OF
the corporation at length.
TITS old news" said Mr.. McCurdy.
II don't see why you should wish to
print old news. No, ] do not know
why the matter should not have been
made public before. Suppose you ask
Mr.. Eichelberg, he's the receiver, you
know.
"Oh! 1t was I and Mr.. Finn who
brought about the petition As stock
holders we insisted that a petition In
bankruptcy be filed and it was flied.
That's all. But don't make the mis-
take of saying that am one OF the
officers of the company"
Over the telephone receiver Eichei-
berg said:
+. ..Ths. petition. wag due to the &c.
ton of II. A. McCurdy and Monte
Finn, of Petersburg. They evidently
did not have confidence In the man
agement of the affairs of the comnanv
and forced bankruptcy proceedings.
should Judge that the company has
ample assets to cover the liabilities.
The real estate and building must be
worth more than $4,000"
While the Richmond Iron Works
Corporation has announced repeatedly
that 1t was the sole maker OF auto
mobiles In the South. the. work .of
manufacturing has not been carried
on to such an extent that the indus
try has become famous in the city. 1t
Is not on record that manufacturers
Of out-of-town cars ever called their
to see the method pursued by the To-
cal company. Once IN while big.
wallsided car labeled '.Virxinian"
wn,,la he seep IN Broad and other
streets and occasionally demonstrating
car consisting chiefly or hood and
chassis made its appearance.
According. to focal automobile men
the virginia1 was sort OF mule car
and was built on demand. The ad-
vance orders. however. are not report
ed to be so h navy that men were kent
WORKING overtime at the plant OF the
COMPANY.