Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1916-11-10

expected to be announced within a
short time, those who are in a position
to know say. 1t. is positively known
that negotiations are being carried on
in New York for the sale of a great
part of the Thompson holdings, but
no details have been given out. I'm
til the deal has been entirely closed
| it is not expected that any word will
be received here regarding it..
Briefly, the plan of the creditors
committee is this: To sell the Thomp-
son holdings. When q sale is made,
all of the secured liens on the prop
erty sold will be paid. The balance will
be placed in a fund for the unsecured
creditors and dividends upon their
claims will be paid from time to time
until they are all paid off. Under the
agreement with the unsecured credi-
tors committee, its secretary. George
r. Scrugham, of New York and Gin
cinnati, and counsel, are to receive
nothing until the last unsecured cred
itor is paid in full.
To Pay Interest on Taxes
The creditors committee has raised
in New York from $2,500,000 to $3,-
100000 with which to pay the taxes
and interest on the Thompson proper
ties and secured claims.
Receiverships which were appointed
for many of the associates of Mr..
Thompson, following the closing of
months ago, have enabled these. indi-
viduals to readjust their affairs. A
number of them now have little to
worry about. The coal and coke busi-
ness has been better than ever was
dreamed of. The heavens which two
years ago were black with gloom are
now radiant with the flames from 40,-
600 coke ovens. The steelmakers are
bidding high for coke and the mer-
Ichant operators are having a hard
time to fill the orders.
| Several thousand miners and coke
workers, mostly foreigners, were hard
hit when they lost their savings when
the First National Bank, Thompson s
honor roll" institution closed. They
| likewise have forgotten their troubles.
They are making more money than
they ever did before; they are buying
real estate, have bank accounts and
are driving automobiles. Hundreds of
foreigners who were starving when
the Thompson bank closed now drive
to Uniontown on Saturday nights with
their families in automobiles to do
their shopping.
Next month in the United States
Court Mr.. Thompson is expected to be
called to face charges which have been
preferred against him by the Federal
authorities. He was indicted in the
Federal Court early last Spring in
Pittsburgh, and later at Erie another
indictment was returned by the grand
| jury against him. The legality of
these indictments, however. has never
been settled, the question having been
raised in Erietby Federal Judge c. p.
Orr, when the presentment was made
by the grand jury.
Thompson Mingles With Creditors
Mr.. Thompson has enjoyed a pleas
ant summer. He has spent his time
lamong his old friends and neighbors,
the farmers of Greene. Fayette and
Washington counties, his creditors. He
has aSSisted them in their work, and
what feeling there was in this section
against him when the bank closed has
entirely disappeared.
A member of the Thompson cred
itors' committee told correspondent
that there is every indication that Mr..
Thompson's affairs will be speedily set
tied. 1t has been less than year since
the idea of creditors committee was
conceived. Several months after the
failure was spent in looking for aid.
Financial assistance was denied. than