Perth Amboy evening news., 1919-09-05
CO.
IN DIFFICULTY
Permanent Receiver VIII Be
Named for Concern Tuesday

JAMESBURG, Sept. SIN the man,
Ing of a temporary receiver for the
Jamesburg Novelty Footwear Com
pany, ZONES to light officially the f.
nancial troubles of the newest indus
try that promised much for James
burg industrial life.
Phillip d. Elliott, of Newark, was
named the temporary receiver, repre-
senting Newman & Lowry Beef Com
pany. of Newark. A permanent re-
ceiver will be named Tuesday OF next
week when additional light will be
thrown on the financial difficulties that
have entangied this once-promising
concern.
At a meeting held on Wednesday
the three trustees, representing the
score of shareholders, tool the legal
action that would close up the build
ing until more definite action was
taken and Tuesday next was finally
decided on.
In the meantime, there are many
workmen who are wondering where
their wages are coming from. AL
ready n man, Van de Hart, of this
place has already judgment in the
sum of $3.50 for services rendered.
The bright particular star of the de-
funct enterprise is Alley ]. Prell, who
was president of the Novelty Foot
wear Company before its removal to
Jamesburg. He is much sought at
this time but he has taken precau-
lions to make good his hiding place.
There Is no cause for the local
shareholders to worry as the build
ing remains the property of the share
holders and several concerns are at
this time dickering for its lease, prin-
cipal of whom Is Herman Shostak, a
local man. who has a business in New
York city.
President Prell of the company la
been in conference with the trustees
for many weeks cut outsiders have
seen him on many occasions. He
usually came to Jamesburg in a big
limosene and was accompanied with
Capitalists" as he termed them. 1t
now transpires that the men who
usually came out to Jamesburg to
view the bubble were dupes and ru-
mors nave it thai the heads of the
concern gathered in over twenty
thousand dollars from persons who
could ill-afford to lose their savings.
Two parties in Jamesburg have come
forward with the information that
they invested $4,000.
These men have testified that they
have been a hazy recollection of turn
ing over their savings and this tends
to strengthen the theory that Mr..
Prell was a h%ypnotist of no mean abil-
ity.
Many stockholders are wondering If
the men who gave such glowing testi-
monials to the Jamesburg investigat-
ing committee who came back with
their o. K. were not also masters of
the art of hypnotism.
The company had its inception at q
meeting of the citizens called by los
eph M. Perrine, some months ago in
an effort to erect a building for the
concern. The citizens met in borough
hall and also the heads and were
impressed with their promises
to the extent that $4,000 was sub
on the spot. A building was
about 100 x 40 and the con-
Germ moved their machinery in and
made several feeble" attempts to
start. Rumors have been rife of A.
nancial difficulties and these were
Strengthened out when the legal ac-
ton was started by the Newark par
ties that will officially put the con-
Germ out of the local industrial field.
Jamesburg seems to be a rich field
For shoe factories. No less that three
nave been porn and died in this place
a few years and the experience
not seem to phase the innocent
shareholders. In this particular case
they have suffered no loss.