The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1913-08-03
JUDGE SPEER
GRANTS PETITION
RECEIVERS OF THE PLANT ARE
PERMITTED TO ISSUE 100000
INCERTIFIcATES.
COMPANY'S BUSINESS PRAISED
Judge Speer Pays Compliment to Those
Who Have Done So Much for This
Section of the State in MAKING
Waste Products Valuable.

Atlanta, Aug. 2--Judge Speer today
granted the petition of the Yaryan
Naval Stores Company to issue re
ceivers' certificates in the sum of one
hundred thousand dollars. f. E.
Twitty and Max Isaacs appeared for
the receivers, two of them, Messrs
Bailey and Stetson being present.
Judge Boiling Whitfield appeared for
the only objectin:s creditor out OF a
list of 400 creditors.
Judge Speer granted the app1ica-
tion on the following opinion:
This is a case wherein the flexible
powers of a court of equity are IN
Vcked to conserve not only the in
terest of the parties actually before
the court, but great venture which
may be Of irestimable service to a
whole people. 1t would be singrlarly
unfortunate if the court did not have
the power.
Three years ago in that empire
once covered by the majestic pine for
ests of Georgia there was everywhere
incalcuable waste; It was in the de-
caying tree tops which had been left
by the axe OF the lumberman it was
in the millions of stumps which disig-
ured the cleared fields and which in
terfered with the operations of the
farmer and the husbandman, a gen
ius in chemistry. Mr.. Homer T. Var
yam, who has devoted his astonishing
original powers AMI mastery OF that
occult science to the special task of
extracting values from various ma
terials-yalues to be utilized commeri
cially and in the arts for the benefit
of man and has evolved a system by
which all this waste may he consery-
ed-not only conserved but transmit
ted INTO gold, by turning the waste
products into rOsin and turpentine,
known as naval stores The prCbaLil-
ity of immense benefit, not only to
those far-sighted men in the great
state of Ohio, who took rart with him,
but also to thousands of other people
among whom this court exercises rs
jurisdiction, and whose every interest
is and should be dear to its every
motive and purpose 1t is incontesti-
BILE, it is true. that there had been
some loss, indeed considerable loss,
in builting tie plan. il the initial
operations and i. vast experiments
to cheaper ope. alton and augment
production.
ing and fer-s.ghted men. Certainly
there has been the most astonishing
success.
The testimony Of IIr. Bradley dem
onstrates that all of this waste me-
terial belonging to th southern farm
ers is of great commercial value. II
the demon st-ct:on progresses proper
tionately, IS it seems it may do, this
prccoss man lie of scarcely less valde
to the. people Of south Gcor.i& fnd
other southern Gtf ties where pine for
ests grew and are not growing more
than the cotton crop itself. The pro
cess relates only to dead r'aterial. 1t
has no relation to the growing pine
He has an xc3eGingly small regard
for the day and tine n which he lives
who wo.ld 1efuse the opportunity to
men when they wish to pay the pr-H !
lege of exoendilS their own money
for continuirc this demonstration AID
bringing TO profitable fruition the a
bors which tavc tcen designed tv the
eeniss who disco~ered the process.
81 ca4not End it in my acart to dt
this. It is besides the best thing fol
the creditors. This is plain enough
Thee ,ecciver-' ccrtifeatcs, in rlJ
iudgme-t, oaght t. be IS 'uod. Eieht.'
five per r-e1t IF the troc4tors unite II
the purpose of the a.ill. Esgaty pei
cent of t::.2 stockholders agree to n
derwlite the certificates among "a
+ba -rSdit1r- of w ore N rtT, the f'Ul