The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-12
COMMITTEE NAMED
FOR MILLS & GLIB
Old Dry Goods House. Meeting
Difficulties. Acts to Guard
Creditors.
ASSETS TO PAY IN FULL
Resources Said to BE Equal to
Sl.302.318.82 Liabili-
ties to Be Met.

worth street and Wall street as well
were deeply and regrettably Interested
yesterday in the information which
leaked out IN the course % the day of
the appointment Of a committee OF promi-
nent bankers and merchants to conserve
the assets or liquidate the affairs of the
well known and important white goods
jobhing and importing house OF Mills
Il iibb. The firm. which was succeeded
by corporation Of the same name,
formed under the laws OF New Jersey in
December, 1892. il one OF the historic
concerns OF the city and operates also
in Boston, Philadelphia. Chicago. st
Louis and San Francisco in this country.
II has branches also IN Nottingham.
England. Paris. Caudry and ST Pierre
Les Calais. France. ST. Gall. Switzer-
land. and Plauen. Saxony. The founders
OF the original house. Philip Mills and
John Gibb. died years ago and none of
their direct heirs are interested in the
present concern. of which William r
Evans. we'll known as a, collector Of
American art. is president. With him az
directors are Frederick A Valentine
William Roescher. Emil F. Griesney
George Randall. Frank I>owal and John
II. Davies. The company occupies a
handsome building Of lis own at Fourth
avenue and Twenty second street and
transacted a large business
1t j. understood tha, Ave members os
the present directorate OF Mills a. Gibb
Will resign iu favor ~ the members %
the committee or others to be selected
ny III" committee in carrying out the
Ichtbiiliatiou or lquidat OF the cor
poriiioi. Until It's affairs have been
thor ,aghly investigated 1t is Impossible
Tor n. committee TO say whether IL will
oe ipsS'ue to continue the business or
nCi. Rushmore. Bisoee a Stern Of 81
=. otdway. counsel FOR the committee.
ucclln.d to discuss the matter IN any
VA last night and President Evans
confined himself to the following brief
stat .n,..t.
For some tim. past II has been in
contemplation To introduce new inter
ests into the business OF this company.
all the original proprietors save myself
having died. The company now finds
itself IN situation which compels IL
to seek some indulgence at the hands
OF those holding its obligations.
The company has abundant assets
10 meet all obligations. Its current
business Is extremely good, a. are also
this temporary embarrassment with
out any susrensloN of business
Mcssrs Joseph II. Martindale. presi-
dent of the ch,mical National Bank.
J. Harper Poor OF Amory. Browne g.
co, Edmund = Twining OF Clarence
Whitman a CO.. Robert Il. Dunn Of
Damn Bros ana J. Chcever Cowdin
of Iiond a Goodwin have consented
10 act as u committee in an oNtcnsion
OF sin months tim" for the company TO
meet its Obligations. with close super
Ntsnry powers meantime owe" the
business These gentlemen have agreed
Ia a't as such a committee" in tho
interest uf all parties concerned and
It L. e>pc' ted that later on they will
enter The board Of directors The ap-
plica'inU Tor HiI extension has alieady
been presented TO large number "f
the principal creditors and has been
fiNorably received.