New-York tribune., 1921-02-24
Leslie's and
Judge in Hands
OF Receiver
Publishing Concerns Debts
Listed at $2,2lO,OOO i'm
William Green's Involun.
tary Bankruptcy Petition
W Weeklies Will Continue
Sons of John A. Sleicher
Say Cost of Labor and
Paper Caused Big Losses

An involuntary petition in bank
ruptcy was filed yesterday against the
Leslie-Judge Company, 225 Fifth Ave
nue., and, on the petition of William
Green. chief stockholder, Judge Mar
tin Manton appointed Thomas B.
Fielder, of IA Wall Street, to act as re-
ceiver under bond of $4,000.
1t is related in the complaint that
the LcslieJudge Company owes more
than $2,210,000 and is. in the words
of Reuben P. Sleicher, acting president
| of the company, "irretrievably insol-
vent" The company's assets are es-
| timated at 1920, 900, most of which is
said to be sunk IN mortgages.
The petitioning creditors are Will
lian Green, a printer of 627 West
Forty third Street; Edward j. McDon-
nell and Douglas H. Cooke.
In the petition for the appointment
of receiver it is stated that the COM
pany publishes Leslie's Weekly, Judge
and Film Fun. John A. Sleicher, for
merly with the Albany Argus, has
been conducting the business since its
i'll, it is said, and will not be able to
take up the affairs of the company
again.
In Hands of Sons
Mr.. Sleicher's sons, Reuben P.
Sleicher and George Sleicher have been
acting as president and secretary of
the corporation.
Mr. Green, according to the petition,
is the main creditor. He is said to hold
note for 100000 on which payment
has not been made. He also is said
to possess $512,720.50 par value of
first mortgage per cent registered
bonds of the company, as we'll as $780,
600 par value of the same bonds given
as collateral security for the payment
of the note for 100000. In ALL he
holds S642,720.50 worth of bonds, and
431 shares out of total of 400 shares
of the capital stock.
MIR. Mcdonnell is said to hold a note
for $4,000, and Mr. Cooke is a creditor
to the extent of upward of $500.
Other creditors mentioned are:
Doubleday. Page & Co, $4,000; the
Charles Schweinler Press. $130, 900;
Powers Photo Engraving Company,
$4,000; the West Virginia Pulp and
Paper Company, 100000, and $4,000
to book subscribers.
The company's assets are said to be
$4,000 cash on hand, material worth
$500, 900 and furniture and fixtures
worth S60,0J0.
The reason for the alleged insolvency
is reported TO have been the illness of
John Sleicher, poor business manage
ment and the high cost of paper and
labor.
Recent Losses Heavy
In 1919, it was announced, the COM
pany lost $150,o0o; in 1920, 100000,
and in January, 1921. $4,000.
1nio i Z. IL.
ton came as a surprise to him. He
said that due to the abnormal cost of
material and labor for two years and
the falling off in advertising in the
last six or eight months, the company
had accumulated a deficit, but all cur
rent accounts were being met, when
due, with one exception, where an ex-
tension of credit had been arranged
for, and plans were we'll advanced to
obtain such further credits as might
be necessary to put the business on q
profit-making basis.
The bankruptcy proceedings were
initiated by holders of obligations of
long standing" he said, which | had
hoped would not be presented for pay
ment until more opportune time"
He has the assurance of the receiver
that all three publications will be CON
tlnued, with the present staff and en-
ployees continuing in their places, and
IS confident that the company's affairs
soon will be adjusted to the satisfac-
ton Of all creditors