The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1913-08-23
TEXT OF CIRCULAR LETTER BE-
ING SET OUT BY CREDITORS
COMMITTEE.
WILL WORK WITH RECEIVERS
Brunswick Believes That the Cred-
tors Committee is Doing a Good
Work in the Endeavor to Conserve
the Best Interests of All Concerned

Brunswick is deeply Interested in
every move made by the Yaryan Ma
val Stores Company at this particu-
lar time and her people believe that
the recently organized creditors com
mittee is doing a good work.
In the endeavor to conserve the best
interest of all the creditors the local
committee sent out to creditors gen
orally, yesterday, the following let
ter, in circular form:
To the Creditors of the Yaryan Ma
val Stores Company:
Pursuant to the call issuel on the
9Th inst, a good number of the credi-
tors met in Brunswick on the 10Th
inst, and there being represented
more than four hundred thousand dol
lars of claims, a permanent organiza
ton was perfected by the election
of MR. f. d. Aiken, chairman; Mr..
E. H. Mason, vice chairman and Mr..
l.. H Haym, secretary
A very full discussion of the situa-
that their interest would be best serv
ed by not having the assets of the
company sold under present market
conditions and to that end all state
ments and figures that were supplied
by the receivers were fully discuss
ed.
Receivers !. S. Bradley, Jr, and E
w. Stetson were requested to make
statements verbally, giving the credi-
tors all the information they consist
emily could, which they did, and seem
ed to have satisfied the creditors pres
ent, land although they were bpe-
rating the plant at loss, based on
present market for rosin, they be.
lieved they could reduce the manu-
featuring cost to such an extent that
If permitted to operate through the
month of October, they could make a
showing that would satisfy not only
the creditors, but which would invite
new capital to re-finance the company
in which case every creditor would
be paid in full.
The meeting then voted to put the
creditors interests in the hands of
a committee of IS, twelve of whom
were elected as follows:
Frank d. Aiken, president Bruins
wick Bank & Trust Company, Bruins
wick, Gaa.
E. Fl. Mason, president National
Bank of Brunswick, Ga.
e. II. Lamb, receiver, A. B. & A.
Railroad Company, Atlanta, Ga.
J T Rose, Atlanta Steel Company,
Atlanta, Ga
S. E. Taylor Standard Oil Company
Atlanta, Ga.
Sidney Steele, DUPONT Powder
Company, Wilmington, Del.
II. Gardner, attorney First Nation
al Bank, Gulfport, Miss.
G. r. Nutty, Gulf Refining Com
pany, Pittsburg, Pa.
Albert Fendig, Albert Fendig &
Co., Brunswick Ga.
d. M. Krauss, attorney, Brunswick,
Ga.
L. H. Haym, A. Kaiser & Brother
Brunswick, Ga.
The duties of this creditors commit
tee is to keep fully informed as 10
the operation and conduct of the bus
mess of The Yaryan Naval Stores
Company as well as any phase Of The
situation that may present itself OF
interest to creditors, and they shall
be prepared to submit from time TO
time statements of such operations
and conditions with their rscc mmen-
dations thereon.
The members of the commit os who
were present, organized by the cleo
tion of Frank d. Aiken, chairman:
Albert Fendig, vice chairman, y. II.
Mason, treasurer and l.. II. Haym,
secretary.
The committee agreed to send out
the above letter as synopsis Of the
meeting, AMI now request that all
creditors who were not pres ri or
represented to join by signing
the enc'os. blank so that the. in
tere3t, Ike her editors, can .,e
looked after by the committee, all Of
whom ,rc to s,rye without c>.rpcn
sation, and the sense of the nit et;ng
appointing them was that a volun-
tary contribution on the basis OF one
dollar per thousand of each creditors