The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1915-03-25
Many Creditors Unite in
Asking That Refrigerator
Sale Be Confirmed.
HICAG0ATTORNEY LEADS THEM

M. G. Rasmussen of Chicago repre-
senting about one hundred creditors Of
the bankrupt United Refrigerator and
Ice Machine Company, has appealed 70
the United States court Of the eastern
district of Wisconsin not to confirm
the order of Referee in Bankruptcy
Milton Knoblock, in which he refused
to con fim thee sole at auction o. the
assets of the defunct company last
week and directing the trustee of the
estate to conduct another sale in the
belief that more money can be realized
than was offered at the sale last week
At the sale held at Kenosha about
$4,000 was offered to the appraisal,
the assets should have brought a sum
close to $4,000 but for reasons not
quite clear, the sale failed to come up
to expectations. The closed CONNER
cial and Savings Bank in Racine, is
one of the heaviest creditors of the
bankrupt estate, and upon the amount
realized by the sale Of the ice com
pany assets will depend the sum
which the bank will recover. 1t was
confidently expected that the bank
would get fully $4,000 as a result of
the sale of the assets Of the Kenosha
company, but unless another sale is
held, the amount the bank will recover
may be far below the amount estimated.
In filing certificate of objection,
Rasmussen contends that it will be to
the best interests of creditors of the
company if the sale is allowed to stand.
and he goes on to recite that the clients
he represents are interested to the
amount approximating $4,000.
Referee Knoblock, as is customary in
fling a certificate of review of bank
rupt estates to the judge of the federal
court, gives his reasons for not con-
irming the sale, and it is not thought
likely that the judge will reverse the
order of his referee.
Kenosha creditors are divided in their
sentiment in regard to the sale of the
assets of the company. A few of the
stockholders who are still hopeful that
some plan will work out which will
make possible the re-opening of the
plant ARE favorable to resale. These
men are not expecting to get any re-
turn for the amount they invested in
stock in the company but, most of
them are business men in the. city who
are hopeful that the operation of the
plant under another management would
give employment to many Kenosha men.
The stockholders in Kenosha will make
no appearance in the contest against
the confirmation of the sale and if the
court sees fit to order resale the local
men will bend all Of their efforts
toward securing purchaser for the
plant in bulk.
In the past few days many men have
been approached with view of secur-
ing the organization of a company to
take over the plant, but the men be-
hind these movements declare that as
yet no sufficient interest has been
shown to warrant any encouragement
for such a movement
One thing is certain and that is that
the protest filed by Attorney Rasmus-
sen Representing so large a number of
the creditors will probably have the
effect of delaying any settlement of
the matter until late in the summer,
Creditors are not worrying much
over the matter as the possibility of
getting extended dividends on their
claims has long since gone glimmering.