The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1921-07-23
DOLLEY IS NAMED
VIII Take Charge of Affairs of
Associated Mills.
twenty Elevators in Operation
in Kansas.
PETITION FILED BY BANKER
Liabilities Reported To Be
About 100000.
Assets of Company Said to
Total 100000.
PETITION FILED BY BANKER
lIities Reported To
About 100000.

j. n. Dolley, former state bank COM
missioner. was today appointed re-
celVer for the Associated Mill and Ele-
Vator company of Kansas City. a con-
Germ operating a chain of elevators in
Kansas.
The appointment, which was made
by Judge John Cottrell. sitting for
Judge Pollock in federal court, was
sought in a petition which was filed
Friday by Emery L. Wickizer, Cove
county banker.
The charges contained in the petit
ton were admitted by the company.
thru its president. H. c. Num-, and
consent to the appointment of a re-
ceiver was given. BY the terms of
the courts order, Dolley takes full
charge of the company's property inn
mediately. his bond for 0,00O hav-
ing been approved.
Twenty Elevators In Kansas.
The Associated Mill and Elevator
company has approximately twenty
elevators in Kansas, has number Of
others in course of construction and
has sold many thousands of dollars
worth of stock in the state during the
past two years, many farmers invest
ing heavily in the enterprise.
According to the petition filed by
Wiclxizer he bought $1,000 worth of
stock in the company in 1919 and
claims that in doing so it was agreed
by the company that it would con-
struct a large elevator at Quinter,
Wickizer's home town, in time to ham
die the 1921 wheat crop, and also that
the company would deposit so per cent
of the gross sale of its stock in that
vicinity in the Farmers State bank of
Ouinter, of which Wickizer is cashier,
the money to be used in meeting the
cost of building the elevator. AS a re-
suit OF this agreement Wickizer states
that the company sold about 100000
worth of stock in that community.
Not only has the company failed to
build the elevator and deposit the $780,
600 in his bank, but Wickizer alleges
that the company is in such a shape
financially that it is unable to carry
on its business, and states that If he
was to press his claim for return of
the money which he paid for his
stock. which he alleges is rightfully
due him under the conditions of con-
tract, many other suits of similar ma
ture would arise and that the COM
pany would Immediately become insol-
vent.
No Money in Treasury
Wickizer charges, and the company
admits the truth of it in its answer
filed with the court. that the company
Is without capital, that the elevators
under construction including one by
the Liberty Milling company of Kan
sas City. cannot be completed because
stockholders would suffer financial
loss unless the court will take charge
of the company and it's affairs.
Liabilities of 100000.
1t is stated in the petition that LA
bilities and near liabilities of the COM
pany will total approximately 100000
and that there are assets totaling
about 100000. Among the former it
is stated there there are undisputed
claims against the company of 500
600, in suits pending. S6O.000; in
claims of dissatisfied stockholders and
others about to be filed against the
company, 100000; that it will re-
quire 100000 to complete the plant
OF the Liberty Milling company, of
Kansas City, a subsidiary, and that
100000 is required to complete the
elevators which the company has in
course of construction in Kansas.
The company's elevators in Kansas
are located at Oneida, Bolton, Glare.
Chiffon. Climax. De Sofa, Dwight, Elk
Fails, Home City. Homewood, Jeffer-
son, QLenemo, Melvern, Morganville
Princeton. Sedgwick, Troy. Wiisey and
Tasco. The elevators partly completed
are located at Bazine. Garnett Halls
Summit, ,Larned. Mayetta, Ouinter.
Thayer and Mound City.