Perth Amboy evening news. [volume] (Perth Amboy, N.J.) 1903-1959, 1913-11-13
RECEIVER FOR
PACKER HOUSE
lohn K. Sheshy Is Appointed
Temporary Receiver Follow
ing Filing Of Bill.
LIABILITIES 1000
Total Assets Will Amount
to Less Than $4,000 1t
Is Said
LIABILITIES $4,000

Following the fling of bill in the
court of chancery, setting forth that
the liabilities of the Packer House
Company approximate 100000 where
as total assets amount to less than
1000, by Albert Bollschweiler, lar
gest stockholder of the company, a
temporary receiver was yesterday
appointed to take charge of the
affairs of the hostelry. John X.
Sheehy was named as temporary re-
ceiver by Vice Chancellor Howell,
and next Tuesday set for a hearing
of the stockholders and creditors
of the company before the vice
chancellor at the chancery chambers
in Newark. Mr.. Bollschweiler is
represented in the action by Joseph
e. Stricken.
The bill sets forth that the per-
sonal property, stock, fixtures, fur
niture and utensils and good will of
the hostelry were purchased last
February for the sum Of $4,000 in
cash and by the assuming of debts
amounting to about $4,000, then
due against the hostelry. The COM
pany WAS duly incorporated under
the laws of the state last February,
anu thC btOCh ulNluCu Ill IUU budTtS,
which was subscribed to by Mr.. Boil
schweiler, 80 shares; Jean Brivoul,
so shares; and William P. Mallon,
OF New York city, SO shares. The
petitioner states that the company
failed to succeed, and that on Nov
ember 8, Jean Brivoul, stockholder
and manager of the hotel, left the
city and the management OF the
hotel, and as Mr.. Mallon never par
tfcipated in the conduct of the hos
telry, the affairs of the hotel devolv-
ed on the petitioner, from which he
seeks relief.
The bill further states that fol-
lowing the auditing of the books of
the company, the following liabili-
ties were disclosed: To various
creditors for merchandise, $7,453.77
up to October 81; to William P. NAL
Ion on notes due and to become due,
$4,000; First National Bank, on
promissory notes, $4,000, and to the
Pabst Brewing Company, s3,160 on
promissory notes. The notes of the
bank were endorsed by John N.
Peterson, who holds a chattel mort
gage on all the property of the COM
pany. The help Of the hotel up to
November 10, the bill declares, is
due the sum of $1,000. The petit
toner contends that the promissory
notes made by said company, some
of which are past due, are maturing
daily, and that the company has no
funds with which to meet them;
that all the resources inventoried at
full value November II are less than
$4,000. which includes all stock Of
merchandise, goods and chattels in
the hotel. The bill declares that the
company has no real estate assets.
The petitioner further states that
the landlord is demanding rent for
the property in which the hotel has
been conducted which was due for
October and November.
The Packer House has been used
as a hotel for years. December 27,
1909, Peter Floersch, the owner,
sold 1t to g. W. Crawford and J. S.
Taylor, who conductd the hostelry
for some time. Later Taylor sold
his interests to Mr.. Crawford. On
the death Of Mr.. Crawford, Mr.. Tay-
lor conducted the establishment for
the heirs of Mr.. Crawford, until the
business was sold to the Packer
House Company last February.
When John X. Sheehy, temporary
receiver, was asked about the affairs
of the Packer House this morning,
he stated that they seem to be In
such confused state that he is un-
able as yet to make any statement
In reference to them. Mr.. Sheehy
stated that he was only appointed
temporary receiver by the court to
act until 1t is decided to make the