The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1913-08-17
PRESENT DIFFICULTIES ARE DUE
TO DEPRESSED CONDITION
OF MARKET.
NAME PERMANENT COMMITTEE
Much Good is Sure to Result From
the Meeting and With Creditors,
Stockholders and Receivers Work
ing Difficulties viii Be DvercOmeS

Z The creditors of the Yaryan Naval
Stores Company convened in this
: city yesterday in accordance wiuS
the call of the Brunswick creditors
committee. A large number of the
creditors were present in person
, while others sent their proxies to
members of the local committee.
} Chairman Aiken called the meeting
to order, and permanent organization
was affected by the election of f. D.
: Aiken as chairman, e. T. Mason vice
chairman and l.. II. Haym, secre-
tary
Chairman Aiken briefly outlined
the purpose of the local creditors in
calling the convention He spoke of
the Importance of the industry, the
very large amount invested in the
plants, the low prices of naval stores
that have prevailed for several
months. the matter of the continued
operation of the Brunswick plant
the fact that the creditors We're num-
erous and scattered in various parts
of the country, and Mat it was es-
sentia that they shoulA be organized
so that there might be concerted ac-
tion taken on all matters of interest
to the creditors and after careful in
yestigation made by a creditors com
mittee appointed for the purpose of
making such investigation and re
ports.
AT the request of the committee
j. s. Bradley, Jr., and e. w. Stetson,
two of the receivers we're present.
Mr.. Yaryan was also invited, but un-
fortunately missed a conneetion at
Cincinnati and arrives today.
General Manager Smith, Sales Man
ager Lockwood, and Mr.. Fowle, { in
charge of manufacturing operations,
+. b. Twitty, aud Max Isaacs, of
counsel for receivers, were also pres
ent Mr., Twitty stated that the re-
ceiVers and their counsel agreed sew
eral weeks since that they would
like to have the cooperation and ad-
vice Of the creditors, who are SO
vitality concerned in the welfare OF
the company and that they had sug
gested to the Brunswick creditors
that in their judgment it would be
for the best interests of ALL parties
concerned for the creditors to effec
an organization.
Mr. Bradley and Mr.. Stetson gert
invited to make such statements As
they deemed proper to the meetiig
and both outlined the policies of tht
receivers and gave much pertinent
information in regard to operations
and sa4es, and expressed their views
as to the future operations.
They assured the creditors that
they were ready at all times to give
them full information as to the bus
mess and that they felt there was
no conflict whatever in the purposes
OF the receivers, and that of the
creditors, 50 far as the operation OF
the plant involved.
General Manager Smith and Che
department managers present, ALSO
made statements at the request oi
the creditors IA the conclusion oil
these talks the meeting voted con
fidence in the receivers, expressed
, approval of their policies and assur
ed them of their cooperation anl
moral support in carrying out these
policies
At the afternoon session the cred
itors agreed to name committee oi
fifteen who were to represent the
creditors at future conferences be
tween receivers, stockholders ant
creditors of the company.
Eleven members of the committee
: were elected yesterday, who in turr
will select the remaining four from
creditors who desire representation
upon the committee
The members of the committee
: named yesterday were as follows:
f. d. Aiken, Brunswick: f. T. Laml
: A. B. & A. Ry, Atlanta; Sidney Steel
DUPONT Powder Co, Wilmington. Del
II. Gardner Gulfport, MMiss,; L. F
Haym, Of Brunswick; e Taylor
Standard Oil Co, Allan j: C. r. Nut
1 ty, Gulf Refining Co, G afpori, Miss
Albert Fendig, Brunswie d. w
Krauss, Brunswick; ]. Rose A
lanta Steel Co. Atlanta nd e. II
Mason, Brunswick
1t was an exceedingly la Emonioui