The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1914-01-21
TWO PETITIONS
HAVE BEEN FILED
RECEIVERS DIRECTED TO ENTER
APPEAL TO DECISION OF
JUDGE KfLLETS.
IMPORTANT MATTERS up
Future of the Plant, to Great Eek
tent, Depends Upon the Cutome O.
the Hearing to Be Held in Macon
Next Month.

James 5. Bradley, Jr, and e. w.
Stetson, receivers for the YaryaI
Naval Stores company. accompanied
by f. E. Twitty, OF counsel for tn !
receivers, presented two petitions of
Importance to Judge Shepard United
States judge at Tallahassee, Fla, OH
Monday
One of these was for dir 'ction to
the receivers in the matter of enter
Ing an appeal from the decision of
Judge Kiilets, of the Ohio court, .
which he adJudged the defendant q
bankrupt. Upon consideration Judge
the receivers to enter and prosecute
an appeal to the circuit court of ap-
peals for the circuit which embrace
Ohio.
The creditors have already decided
to appeal, SO that the important ques-
tions which are involved IN the bank
ruptcy proceedings will be determin-
ed by the Ohio court 1t Is row tho
oughly evident that the creditors anG
receivers are determined to have the
property of the company administered
to a final conclusion in the Georgll
court rather than in the bankruptcy
proceedings. The creditors and receiN
ers have from the very beginning OF
the troubles of the company worked
untiringly and co-operatively to bring
about reorganization Of its affairs
on a basis that would be p effective
to creditors, and they have made ev
cry effort to enlist the active support
and cooperation of the stockholders
that they might also save their ia
vestment Many Of the stockholders
have shown disposition to leni
their aid to these efforts, bnt a very
active faction seems to have teen an
tagonistic to the receivers and to to
the very large number of creditors
who are represented by the Credit
ors' Protective committee Il is ap
parent, however, that there has been
a change in the tactics of these stock.
holders, as they have requested the
creditors committee to senG repre-
sentatives to attend meeting at Tole
do on Friday of this week f. d. A,
ken, Albert Fendig and H. F. Dul
woody have been selected and will al
tend
The other petition presented tt
Iu6on Shnnard fnY
the sale of the properties AM assets
of the company at an upset price that
will insure the payment Of all it4
obligations. The judge directed th-
receivers to file the petition and tc
give notice to each creditor that il
would be heard at Macon on Feb. A.
All parties familiar with the status
of the legal conflict involved in thu
tendency of the two cases, the one il
Georgia and the other in Ohio, realize
that this petition will determine large
ly which court will complete the ad
ministration. 1t seems to be admit
ted by all parties that the Georgi5
court can maintain possess1o of the
assets which are new in the hand
of its receivers, regardless of the ad
judication in bankruptcy. The receiv
ers of rhis court have worked unt;r
ingly to save the company end they
have had splendid support from the
creditors represented by the credit
ors' committee which has its hea
quarters in this city The .ecejsefs
and others thoroughly informed stat
that the parties in Toledo who brought
the bankruptcy proceedings, and al
others in that city who are aiding anf
abetting these proceedings, have ut
terly failed to give the slightest as
Stance financial or otherwise to ali
the receivers or the creditors com
mittee They were all invited to at
tend the first meeting Of the creditor.
which was held in Brunswick last A
gust, but not one of them was pres
ent When it became necessary foi
the receivers certification authorize.