Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1917-05-06
MAY ISE[Ly.M.C.A.
ON COURT ORDER
To SETTLE DEBTS

~ @ . AD a@ @ @ w. y ~
The Americus Y. M. G. A. building
will be sold under the sheriff's ham
n,er at public auction to satisfy the
demands of the creditors OF the insti-
tuition, if Judge 2. A. Littlejohn of
the Superior Court accedes to the
petition of the Phoenix Planning Mills
of Atlanta which was argued before
him Saturday morning.
The present Indebtedness of the Y
NJ. c. A. amounts to about $4,000 all
told, representing not only the float
ing debt but also the outstanding
bonds, several of which are held by
Americus citizens, with a certain
percentage in the hands of outside in
terests.
At the hearing yesterday morning,
legal representatives of one of the
largest of the local bondholders stat
ed that their client would not press
her claim for payment at this time,
but the Phoenix Planning Mills are
insistent in their demand Their
claim amounts to about $500 for
material furnished at the time of
the erection of the building at the
corner of Church and Jackson streets.
They hold a bond for this amount.
Receiver T. o. Marshall was cited
by Judge Littlejohn, upon receipt of
the petition of the Phoenix people, to
show cause why the sale Of the build
ing should not go forward. Hence
the hearing Saturday morning.
Receiver Marshall answered in his
argument to the petition that he has
no funds on hand sufficient to meet
the Indebtedness of the institution on
account of the fact that about one
half the subscriptions to the Y. M. C.
by Americus citizens have not been
paid. These subscriptions were made
during the campaign in 1894, when
upward of $4,000 was raised in
pledges for the institution
Mr.. Marshall declared that he
could show no cause why the sale of
the building should not be ordered
by the court to proceed, having failed
in every attempt to collect the un-
paid subscriptions.
Judge Lttlejohn took the petition
under advisement, suggesting to MIR.
Marshall that as receiver for the Y.
NJ, C. A. he should proceed to collect
the unpaid pledges made during the
campaign of 1913-14, These pledges
are in the form of notes and can be
made the basis of legal suits to re-
cover the amount subscribed. The
notes were drawn so as to become
payable when $4,000 had been sub
scribed in the campaign. As matter
of fact, about $4,000 was pledged, so
that the notes are absolutely valid
and binding.
AS yet Judge Littlejohn has issued
no order directing Receiver Marshall
to bring suit on the notes. but it is
expected that drastic acton vii be
taken shortly to deal with delinquent
subscribers who have thus far re-
fused to make good their pledges.
Just what action will be taken in
the event the subscriptions are col
lected and the Indebtedness of the Y.
NJ. C. A. liquidated, is not yet decid-
ed. Whether or not the property will
then be sold and the balance left
after paying the debts of the institu-
tion refunded to the subscribers in
the form of a dividend, or whether
the Y. NJ. c. A. will be continued as
such, is a question to be settled.
Some of the directors of the insti-
tuition are discouraged over the lack
o. support that the Y. NJ. C. A. has
been accorded by the citizens of
Americus and are in favor of dis
continuing its operations, while 9th
ers are determined to keep up the
organization, realizing that properly
it is a powerful in
fiuenee for good in the community