Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-10-27
CHAMBERS TO PAY |
z CENTS ON DOLLAR
Estimated Payment Shrinks
Again-$e2,ooo to Meet S.
100000, Receiver Thinks
CREDITORS MEET TODAY

AS matters look today, the defunct
brokerage firm of Chandler Brothers
& Co. may not be able TO pay more
than two cents on the dollar, according
TO Cornelius Haggarty. Jr., one Of the
receivers. At first ten cents on the dol
lar was predicted, then five cents.
PERSONALLY" said Mr.. HaEgarty TO-
day. st does not look to rue as though
more than two cents on the dollar will
ever be collected. Of course in mats
ters Of this kind the unexpected often
happens. but that is the way II looks
to me. You must remember that these
accounts have been in the hands of able
attorneys for some time, with very poor
results, generally speaking
According to the report of assets and
liabilities of the firm, filed recently with
John NJ. Hill. the referee, assets were
81, ,O5O. 1873. with liabilities of $685.
369 1t is stated in this report there
Is owing to Chandler Brothers 4 Co.
the sum of 81, III ,S2T. Only ten per
cent of this amount is estimated in the
report as being collectible. This. leaves
SAIL, ,7S2 which was supposed to be COL
lectible out of the millions owed.
According to Mr.. IIaggcrty's un6fi-
cial estimate today. however,, something
more than $50. 900 may be expected for
the creditors. with their bills for more
than $4,000
MendenhaIl and Reber Confer
Earl Mendenhall, one of the Phila-
delphia partners and head of the trm,
held long conference today with j.
Howard RCbcr. who was attorney for
the receivers. and will be attorney for
W. b. Barrows, the newly elected
trustee.
II am feeling very we'll again" he
said. "You know, ! broke two ribs
while in the West. There is nothing ]
care to say now, | may have statement
to make later
According to Mr.. Reber, the receivers
are practically through with their
duties. Mr. Barrows is now familiar
izing himself with the situation, he
said, and will take hold soon. =.
az am getting ready the receivers
account" said Mr.. Rcber This is
to be filed after the decisions of tn"
courts on reclamation matters have been
hahGed down. | refer TO all reclama-
ton matters to hlte. There is alsso to
BE fled the account of tn" nnCl!larE
receivers in New IO'k. In this case.
the receivers are tue Stlllt' II ''Bn'I l
must be fled in New York, showing tie
New York assets of the firm. thcE re-
ceivcrs will be officially through.
Account for Confirmation
after these reports are filed the ref
cree will send out n ton-day notice tor
a meeting of creditors, ut which time
the account will be presented for con-
firmation. Mr.. Barrows takes hold as
soon as I get that receivers account
prepared and filed. From this report
he will find actually where matters
stand and will be ready, from legal
standpoint. to proceed
There will be another reclamation
meeting this afternoon in the office of
Referee Hill in the South Penn Square
Building. This will be a small meet
ing" said Mr.. Hill. at will be n con-
tinuation Of the reclamation proceed
ngs that have been going on for some
time. Persons who lay claim to securi-
ties in the hands of Chandler Brothers
& Co. at the time Of the failure. are
filing their petitions for return of these
stocks at these meetings.