The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1913-09-17
BIG INTEREST TAKEN
IN BANKRUPTCY
TRIAL
BEACH MANUFACTURING COM.
PANY CASE UP BEFORE A sPE.
cIAL SESSION OF U. S. COURT.
JUDGE NEWMAN PRESIDING

Z WitA ray Of able lawyers and
half hp2drea yitnese in attend.
anee Judge Newn. Ahanta has
opened special ssse sof the Uni.
ted States court in s$sannah to
try the Beach Manufacturing Company
bankruptcy case.
Some of the best legal talent in the
state appears in the case both sides
having retained strong force Of
lawyers and great battle is predict.
ed. II
=. = Edwards, v e Padgett, VIII.
son, Bennett & Lambdln, n. Tai.
ley are attorneys for the defeudants
and Hitch & Denmark, John s Walker
Max Isaacs and A. H Hayward. cesan.
sci for petitioning creditors.
The case was not taken unAM a
jury has been asked for by the com.
pany and yesterday the .,hdge, ,A6pld
only draw the names nd
turn the list over to tH III for
service.
Besides drawing the t14y the only
development in the case was the su
pension by Judge Newman OF an
der he previously signed allowing
sale of certain live stock owng
the company,
Among those drawn for iurv duty
at the trial were three citizens Of
Brunswick, c. II. Sheldon, cashier of
the National Bank of Brunswick; G..
X. Krauss, the baker and A. Lazarus,
a groceryman. of the city, all of
whom were notified by wire ahd left
for Savannah last night to be on hand
Dor opening of court today
The trial promises to be one OF
great interest Besides being the first
instance IN which an alleged bank
rupt has had the issue deter~ined
BY a iiFy there are many other litter
esting phases Of the proceeding. The
Beach Manufacturing company con
tends streneously that it is solvent
and expects to show that its assets
aggregate more than $4,000 whila
the total liabilities are approximately
$225,O0O
1t will be admitted that the com
pany has been financially embarrass-
ed by reason of its inability to borrow
money due in part to the existance of
an outstanding loan of $4,000 secur-
ed by a mortgage on most Of the com
pany's property; but it is expected
the company will show that its finan-
cial arrangements have recently i'm
proved and that it viii be able to
meet its obligations if it defeats this
effort of its creditors to have the
company declared bankrupt
1t is said that the Beach Manufac-
turing company purposes to make a
clean breast of its affairs for the in
formation of the jury. The company
has ordered all of its boks brought
into court. This, it is explained.
switches the burden to the complain
ing creditors and makes it incumbent
upon them to prove the insolvency Of
the company.
That it is to be a stubborn fight on
both sides is evidenced by the array
of lawyers that will appear in the
case. About an equal number of wit
ness2s are on hand for each side,
which is total of fifty, If all these
witnesses are examined and the
trunks Of documentary evidence are
exhibited and explained the hearing
is certain to run through the week
and perhaps into next.
The company has a paid in capital
of 100000 Its contention is that it
is amply solvent. 1t is not denied that
1t was somewhat cramped during the
recent stringency in financial matters.
but has property at fair valuation,
amounting to quarter of million
dollars more than its liabilities.