The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-12-26
Pledged Customers Securities
to Meet Obligations


Indications last night, from sourc es
sn authority. were that previous pre-
dictions OF fun payment 70 creditors
OF Houston, Fible q Co, were TOO
optimistic.
No totals OF assets and liabilities
Z or the local brokerage firm have
been announced officially, but ftom
these same sources 81 is estimated
that possible loss to creditors Will be
from 100000 to 100000.
Opinion of creditors and persons
close 10 the firm 80 that the only
hope for payment near the fun
amount of the Indebtedness Is In CO
operation of creditors TO prevent
bankruptcy, with It's waste Of as
scts" in long. expensive process.
Committee Makes "a Statement.
4 j. W. Perry. chairman OF the cred =
itors' committee, who. although not
Ia creditor is serving at the request
( or creditor friends, was silent on to-
itals of assets. liabilities and losses
For the committee. he issued TINS
+ statement
The creditors COMMITTEES of Hous-
son, Fible e. Co. has made every eff
( fort 10 obtain such information as
would Justly it in making state
fnesN as to the financial condition OF
H4he company and the possible return
{ TO It's customers.
The indebtedness In solely 10 Gus
toners az the firm owed no bank
and its obligations on the various
exchanges were satisfied by the sale
Of collateral and closing OF accounts,
The committee has made the un-
firing efforts OF the receiver. mem
bers of the firm and employees OF the
firm In making up the figures cover
ding the firms operations, listing col,
lateral and balancing accounts OF
customers.
z Ask Help In Checking Up.
4 The collateral and assets in pos
session OF tho firm have been tapu
lated and hurriedly valued. The ac-
counts of customers have been made
am as rapidly as the force cou1d
cover the task. A request has beer
made that customers check and re
turn their account record. 80 thai
the committee can obtain a balance
sheet from which to draw some con
illusions as to conditions existing n
the time.
II Is the purpose OF the committed
90 do everything within it's power
first, to ascertain the facts; second
30 work out plans Tor the proserRa
tion OF the assets of the firm. Tn
committee has accepted statement
nlduG DN IlltIAlbNis " tAsN 80 NN''N
their capital had been exhausted AM
that some OF the securities pledge
hy their customers had been sold Z
sneet obligations of the firm
'Some Plan May He Found
Some plan may be agreed upon b
the creditors and others interested
(which will make the assets equal t
the liabilities and save the firm an
tthe creditors from the expense {
Nliquldation incident to bankruptcy
tIf this cannot be done, the creditor
will suffer n severe loss.
The committee can make no state
ment at this time as TO the probabI
loss, but will do so when the figure
are available.
Intelligent corporation OF all II
terested parties will lessen materfa
~ the burden TN the end.
All creditors are requested TO a
tend the meeting at 10 o'oloo
!. Thursday in the Hotel Muehlebach
II "DolIar for Dollar" Doubted.
N The statement by the committe
vcrifics doubts voiced 'in the stree
that the firm could pay dollar 4
dollar. Those familiar with mark
conditions said that forced liquid'
ton of securities on a market that
Just beginning 10 strengthen, wou