The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06


which sum was acknowledged to be due
to J. NJ Taylor 4 Co for the services
TO DO rendered and FOR certain prop
erty, including the fish wrapping
process. the real value Of which your
receivers are unable to state"
The principal assets Of the Products
Company seem centred at the little
port OF Rockland, Me. Here 1. nj. Tay-
Tor was hero among the fisher folk.
many OF whom had gone into his conn
panies. He had large suite Of rooms
AZ the hotel. his motor boat dashed
swiftly through the waters OF the har-
bor and no local celebrity had half his
fame.
Rockiand had only about $500 peo-
ole when the Products Company came
into being ii 1919. 50 its village pride
was tickled when 4 building corporation.
capitalized at 100000, was incorpor-
sted BY the Products Company interests
and Rocl1lan6 banking interests 70 pro-
vide housing accommodations for 5000
70 1000 additional people TO be employed
az the big plants there The total out
put az FISH a year was estimated at
150,000.000 pounds.
Business at standstiII.
owing to the amount Of inventory oa
hand and TO the requirements Of the sit
uation. operations at the plant at Rock
land We're largely curtailed," the re-
ceivers remark in dispelling Rockland's
dream OF immediate greatness
The following statement Is made con-
corning another phase OF the Products
Company's work:
salt fish held on the books OF the
company at s442.650 was sold to Q. +.
Mattlage 4 Son for $4,000 the only
bid received for the fish The fish had
deteriorated owing to improper curing.
Because OF its rapid deterioration ii
could not DO held for a more propitious
market Canned fish, however, seems to
be in good condition, fit for sale at good
prices"
Gen Cocktails and his company
Geo w. Cocktails 4 Co. Inc.-which
Is managing tie affairs Of the two COM
panies despite the financial muddle, plan
20 90 ahead in ali effort to continue the
business Of the company. Until March
/ two or three trawlers were operated
but owing to labor costs these lost
money. An effort IS now being made to
develop the chilled fish process This
consists III wrapping fish previously
chilled In brine in paraffin paper for
shipment. 1t is possible to send fresh
fish inland BY this method and on it the
Goethals company banks in its struggle
to revive the two companies. Fish Is
purchased and treated In Boston.
George w. Wickersham, Col. Cornelius
W. Wickersham and Frank III. Towsley
Of Cadwalader, Wickersham 4 Taft. are
the active counsel for the receivers. Mr.,
Taylor was served with papers IN suit
in connection with the fish companies
the day before he left this country. in
the suits TO recover dividends alleged TO
have been unlawfully distributed the fol-
lowing directors and former directors Of
the Fisheries Company are made de-
PENDANTS: Ivan NJ. Taylor. William +.
Birch, Richard Cole. Irving Cox. Fred
ericz O. Bezner William Il, Aughin-
baugh, Mark w. Norman, Walter +.
Wells, l.. Fred Maggie. Otto J.. Schwencke,
William NJ. MacFarlane and Edward II.
Jacob.
In the Products Company suit the fol-
lowing are named defendants Ivan NJ.
Taylor, William F. Birch, Richard Cole,
Irving Cox Frederick o. Bezner. Will
lam r. Aughinbaugh, Mark w. Norman,
Franklin Remington and George Dexter.