The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1915-04-15

The long expected petition in bank
ruptcy on behalf Of Charles r. Car
penter. cashier of the defunct CONNER
cial and Savings bank of Racine was
fled in the United States district court
in Milwaukee on Friday by his attor-
neys, Quarles, Spence & Quarles.
In his petition Carpenter claims as
sets of 1929, 151.17 and liabilities OF
$314,994.24.
According to the petition, it appears
that Carpenter IS assets are greater than
his Liabilities and sufficient to meet his
indebtedness. However, and examina-
tion Of the petition shows that Of his
claimed assets is Aote of 100000 held
against the bankrupt United Refriger-
ator and Ice company of Kenosha. The
assets of that concern were recently
sold at auction and brought only $685.
600. The court has since issued an or
der directing the trustee of the bank
rupt estate to hold another sale In an
effort to realize more for creditors, but
even if the defunct machine company
is sold for the whole amount of the APP
praised it would only bring $4,000.
Among the assets claimed by Mr..
Carpenter are loans to the Domestic
Manufacturing Company in the sum Of
$4,000, which recently went through
bankruptcy. He also lists his stock in
the Commercial and Savings bank in
the sum of $4,000 as part of his assets.
Stock in the following companies is
given among the claimed assets.
American Timber Holding Co., 49,
600; Southern Timber and Colorado
company, $1,000; Arnold Electric com
pany, $4,000; Racine Manufacturing
company, pledged to Commercial and Sa7
wings bank, $4,000.
There is a large list Of smaller sums
included in the assets, some of them
notes and others accounts against vari-
rus individuals.
OF the liabilities $109, 1928 is in
secured claims and $S,218.12 in unse-
cured claims
Lists Notes and Bills.
He lists notes and bills in the sum
of $149,687.96 that ought to be paid
by other parties thereto, he says, and,
accommodation paper, $4,000.
Other asets in addition to those al
ready named are real estate in the
amount of $105, 33O95; cash on hand,
$1,0O0.31; bills, promissory. notes and
securities, $3.50, 267.72; household goods,
$500; carriage, $1,000; debts due on
open accounts, $14613.17; stocks nego-
table, etc, $12S,911.0s; unliquidated
claims, $19, 1854.
Among the Creditors.
Among his creditors the following
are listed:
First National bank, Fond du Lac,
$4,000; First National bank, Marsh
field, Wis, $4,000; Seaboard National
bank, New York, N. Y, $4,000; E. A.
Reddeman, Milwaukee, $4,000; w. H.
Carpenter, $4,000; E. o. Hand, So 900;
J. S. Hand, Elkhorn, $4,000; E. 0. Hand
$4,000; Racine City bank, $4,000; J. S.
Hand, $10,500; E. B. Hand, ST. 900;
Dyckman & Co., $1,000; B. R. Jones,
Racine, $4,000; j. Kennedy, $500;
First National Bank, Marshfeld, 3d.
900; Northwestern Mutual Life Insur-
ance company, money borrowed on pol
icy, $1,000; j. E. Dodge, Milwaukee,
$4,000; Farmers and Merchants bank,
Milwaukee, $4,000; Bank of Water
town, $4,000; to T. H. Spense, trustee as
endorser on paper in the sum of $4,000
of the United Refrigerator and Ice Ma
chine company along with B. Hinrichs,
the paper secured by accounts assigned
to Henrichs which is also security for
Carpenter s paper in the sum Of $780,
900 held by the Commercial and Saw
ings bank.
In a notation he states that he is
liable as endorser on "a notes for a
total of $4,000.
The petition states that of the $780,
600 in paper against the United Refrig-
orator and Ice Machine company he is
not sure whether the company is liable
to the bank or to him, but he lists it as
one of his assets.
Owns Much Real Estate.
There is long list of real estate
which he says he owns in various sec
tions of Wisconsin, idaho, South Dako-
ia and Illinois.
The filing of the voluntary petition
by Mr.. Carpenter is the result of the
meeting of creditors which he called
about two months ago in an effort to
straighten out his affairs 1t was felt
by some of the members of the com
mittee appointed to untangle the assets
and liabilities that the best and most
equitable method of coming to decis-
ion regarding Mr.. Carpenter 5 affairs
would be through a petition in bank
ruptcy, and the fling of the paper to-
day is the first step which will lead to a