Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-08-07
co.
REORGANIZED BY
NEW DIRECTORS

pers Compress company, one Of
the concerns involved in the finan-
cial difficulties of /R. F. Willingham,
of Macon, was effected at a meet
ing Wednesday morning in Atlanta,
so that, it was stated. it is expected
the company will soon be doing bus
mess usual.
| The stockholders Of the company
met in Macon Tuesday and named
new directors. These directors met
Wednesday morning in Atlanta and
elected temporary officers and a
temporary finance and executive
committee.
John A. Manget, of the firm of
Manget Bros, cotton brokers, was
elected temporary president. A. 2.
Coles, j. j. Williamson, Frank Bar
rett. George Strickland and D. t.
Manget were elected to the tempo
tse: finance and executive commit
At the close of the meeting John
Manget stated that a friend of the
cotton interests had offered $780,,
900 toward refinancing the company,
provided the stockholders will raise
$150,000 and provided that the banks
to whom the company is indebted
certain notes of the company which
they hold.
The $4,000 asked of the stock
holders has been raised, according
to Mr.. Manget, and if the banks
agree to grant an extension the com
pany will continue business as usual
forthwith. said Mr.. Manget.
Headquarters of the company have
been moved to Atlanta, and it's per-
manent offices will soon be estab-
lished here.
STOCKHOLDERS CHOOSE
DIRECTORS IN MACON
MACON, Ca, Aug. 4.-The stock
holders of the Shippers Compress, in
which r. F. Willingham was inter-
noon, elected a new set of directors,
composed mostly of Atlanta business
men and voted to remove headquar-
tiers of the concern to Atlanta. Con-
fidence was expressed in their ability
to keep the company in operation I'M
meeting of the new directors was
called for Wednesday in Atlanta.
The new directors are A. P. Coles,
Atlanta; r. E. Fugate, vice presi-
dent and general manager Of the
Shippers Compress company. Ma
Der of the firm of Manget Brothers,
Atlanta, head of the firm of J. j.
Williamson company; Frank Bar Bar
bearing his name; Frank Inman, At
Howard, cotton exporters; E. A:
Naman, Atlanta, local manager of
the Anderson-Clayton company: ]: B.
Glover, Savannah, Of the firm of J.
K Livingston & Co.; ]. A. Manget
Atlanta, with Manget Brothers; j.
Brothers; George Strickland, Atlanta,
with Strickland-Jordan company; J
P. Woodall, Augusta, with We'll
T. D. McRitchie, of Newman, who
has been associated with the Snip
banker, and B. S. Deaver, Macon law
yer, were named receivers for the
Willingham warehouse as the result
Of the petition filed before Referee
J. N. Talley Tuesday by c.. T; sand
ers, Taylor Iron Works, and the Ma
con Railway and Light company. Inc
claims tota1ed $11, 229.7O:
The Willingham warehouse BOOKS
will be audited by W. .. Martin, VINO
audited the books of the Bank Of
Fairburn. He was engaged over long
distance telephone last nlgnt. count
The receivers plans to get court
order to permit them to dispose OF
large quantity of bagging and ties
which have been made over at the
warehouse for use in connection Win
this years cotton crop.
Mr.. Hart also is one Of the re-
ceivers of the Willingham corpora
ton, owner of the canning plant at
Franklinton. The canning, company
and the Wi1lingham warehouse are
the only concernins in which Mr.. Will
bingham owned the largest interests,
and they are the only ones that will
be seriously involved as a result OF
his dificnltieS it is said.