The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1913-12-10
SAY THAT ATTACKS AGAINST
THE RECEIVERS ARE
UNFOUNDED.
WILL FIGHT BANKRUPTCY
Committee Takes Topeful View Of
the Situation and Believes that Mat
ters Will Be Adjusted in a Short
While.

The proposed meeting Of the receiv-
ers, James S. Bradley and L. w. Ste =
son, of the Yaryan company, the ioc ii
creditors of the company whici. was
scheduled for yesterday mornilg did
not occur, for the reason that the ~
celvers were suddenly called ou. vi
town before the time for the III ,eting.
The creditors Of the company, who
nave held several sessions recently.
have again expressed their rnt9 :t,vn
to fight to the last ditch the proposed
move to place the company into nank-
ruptcy There is now in prep ratio
circular letter which will be sent 70
all the creditors in which a y5.v Oh
tlmlstic view is taken of the situation.
In addition to this there have peen en-
ployed attorneys both in Bruns.4ick
and IN Toledo to protect the interests
OF the local and other creditors, and
to prevent if possible the placing o.
the concern into bankruptcy, wh,1l
those locally interested feel wou.l be
decidedly against their best intet to-,s.
as well as against the best interest
OF the comptny itself.
F. D. Aiken, chairman of the c0u.-
mlttee appointed by the local creGi,
ors, s&id yesterday that the c%4r2ss
against the above named rec 4el
which have been made by those la ror
ing bankruptcy for the corporate.
and especially those against E. "
Stetson, one of the receivers, we've
particularly unjust, and were entirelv
unfounded. we have the hiehes.
regard for all of these gentlemen. not
only personally, but for their alb lity,
| and l feel that that | am voicins the
unanimous opinion OF the committee
and OF the people of Brunswick s7nor-
ally when | say that they have our
full confidence and supr Ort.
AS far as the charSes whica We're
made against the committae are or
cerned | lave nothing to say it Is
so pai mt to anyone wno VIII give,
the subject moments thought that
they are utterly without foundation
that it IS unnecessary for me to make
any defesse for the committee.
The local creditors committee" he
said, ARE taking no part in the fight
lor the management, but are exerting
all their efforts in the attempt to pro
tect themselves and the other credit
ors. The best and only way to do
TINS" he continued, is to do our best
to place the Yaryan plant on its feet,
and this seems entirely possible, with
the present hopeful outlook, not only
in the market situation, but with the
present management of the plant"
Albert Fendig, another member of
the committee, also expressed his en-
tire confidence in the receivers. 1T
is, in my opinion" said he, "extreme-
ly unjust for these men, who have
been lending their efforts to this work
with the sole purpose of giving all
the assistance that they could to the
concern, and incidentally to the city
should have been subjected TO the
nave been made against them. It is
not a question Of their being guilty
OF the charges he continued, for ev-
eryone knowns that they are not. II
is the fact that it has been so thor.
oughly advertised throughout the
state, and the charges have been CIV.
en- such publicity, and possibly wher
they are exonerated, as they will in
evltably be, the press accounts of the
fact will be buried in some obscure
corner of the newspaper if it get in
at all"
Mr.. Aiken was also very much pleas
ed with the outlook and believes thai
the situation will soon clarity.