New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-03

and efforts will be made 70 collect as
large Il portion of the notes from the
makers as possible, thus reducing the
contingent liability of the indorser.
The committee will proceed against
each Of the makers on behalf of all
noteholders holding obligations of that
maker and will obtain information
about each OF the corporation makers,
and will transmit such information to
the parties interested
"The policy of the committee will be
that the assets of each maker should
be separately held for the benefit of
that makers creditors and not con-
fused with the assets of other corpora
lions"
The following list of Clafin stores
which, the committee is Informed, are
already in the hands OF receivers is
inclosed:
Bedford & Co., of Brooklyn; J. Bacon,
& Sons. Of Louisville; the Catsner-
Knott Drygoods Company, of Nash
Vile; the VI. J. Connell Company, of
Butte; the Defender Manufacturing
Company, of New York; the Fair Com
pany, of Cincinnati; the Joslin Dry
goods Company. of Denver; Kline
Brothers, Of Altoona; Lord & Gage, of
Reading; the Lion Drygoods Company,
of Toledo; the George w. McAlpin
Company, of Cincinnati; the Mont
gomery Fair. Of Montgomery; the Peo-
Piles Store Company, of Tacoma; the
Root Drygoods Company, of Terra
Haute; the Spring Drygoods Company,
of Grand Rapids; the Whitehouse
Company, of Spokane; j. B. White &
Co., of Augusta; II. Batterman Co..
Of Brooklyn; Waite, Rettew & Clay,
Of Norfolk; Thomas c. Watkins, Ltd,
of Hamilton, Canada; the Hennessy
Company. Of Butte; the McDougall &
Southwick Company, Of Seattle, and
the Jones Store Company, OF Kansas
City.
Plans for the Capitalization Of all
merchandise creditors claims against
the Clahin company were formulated
yesterday by a subcommittee of the
Merchandise Creditors Committee and
J. Harry Tregoe, secretary and treas.
urer Of the National Association OF
Credit Men. II was agreed that the
two bodies should cooperate, and
messages to that effect we're sent TO
the 1903 branches of the National AS
ISOLATION Of Credit Men.
Guard Merchandise Claims.
This cooperation will mean that all
merchandise claims can be gathered
into the hands of the Merchandise
Creditors Committee, through the
various adjustment bureaus of the
National Association Of Credit Men.
On the subcommittee which conferred
with Mr.. Tregoe were Frederick w.
Wakefield of Cheney Brothers; Robert
T. Fowler, o. the Alexander Smith
Carpet Company, and c. Morton Whit
man, Of Clarence Whitman Company.
Resolutions recommending co-opera-
ton in the II. B. Clafin failure matter
were adopted yesterday by the board
of directors of the Creditors Audit and
Adjustment Association at its meeting
at Al Union Square. Harry A. Gordon,
counsel for the Cotton Garment
Manufacturers Of New York, creditors
of the II. B. Clafin Company, said
Yesterday that the organization had
confidence in the ability Of the mer-
chandise creditors committee and
would cooperate with it in every pos
sible way.
Judge Hand in the federal court
yesterday gave the receivers for the
II. b. Claflin Company until July IA
TO send out their notices of the first
meeting of creditors. Ten day. notice
by the receivers is required, and when
the receivers were appointed July 4
was set as the date, when the notices
should be sent out. The accountants
reported that their preliminary report
would not be ready by that time.