Smyrna times., 1923-08-29
DOLLINGS stockholders IN
DELAWARE UNITE FOR ACTION
NAME A COMMITTEE TO PROTECT
INTERESTS BEFORE RECEIVER
Will Join With Maryland In What
ever Legal Proceedings are Nee
essary an the Coming Fight

CSSdAS al tuC OOAAnAS 4ASAAt
Former Mayor William G. Taylor
of Wilmington, and R. P. Davis, a
Milford attorney, were selected as a
committee to represent the Delaware
stockholders of the R. L. Dollings
Co., and their subsidiaries during the
receivership proceedings, at meeting
of the stockholders held in Century
Club in Dover last week. The build
ing was crowded to capacity during
the meeting, which lasted more than
two hours. The committee represent
ing Delaware will serve with a like
committee representing the Maryland
investors, consisting of George w.
Woolford, of Cambridge, president of
the Eastern Shore Trust Co., and w.
B. Cordrey a lumber dealer of Snow
Hill. It is estimated that more than
S4,OOO,OOO has been invested in Dol
lings' concerns by residents of the
Peninsula, and $1,000,000 of this
amount was invested by citizens of
Kent county alone. The meeting was
called to order by w. T. Maloney,
formerly district manager for the
Dollings Co., and who has greatly aid
ed in the work of getting the inves-
tors to work together. He introduced
Mr.. Woolford, who explained the pro-
posal to get the voting power of all
the stock owned on the Peninsula in
the hands of the committee of four
for the purpose of being represented
OF Akn r.ooasr7o1.cl, hao a,,1
tect those concerns that are solvent
from being forced into receivership
and have receivers appointed for
those concerns that are insolvent. An
attempt will be made to have the vOt-
ing power placed in the hands of the
stockholders and some of the COM
panies reorganized. The plan sub
mitted to the investors last week is
similar to the one accepted by the
investors in the Maryland counties
and was started by the investors of
the State of Ohio.
To Protect Delaware Stockholders
Following Mr.. Woolford's address,
he introduced Mr.. COrdrey, who ex-
pressed his interest in the matter as
being based on an effort to secure the
return of the money to the investors
Of his home county. He stated that
he was unfamiliar with the condition
of the Dollings Companies affairs but
| expressed a willingness to devote
some time to assisting in solving
problem. The assistance of the Farm
ers' Bank was offered to the investors
by James H. Hughes, a Dover attor-
ney and director of the bank, while
the same offer in behalf of the Della
ware Trust Company was made BY
Mr.. Taylor. All four of the speaker;
laid particular stress upon the cam.
paign being conducted by banks al
through the State of having their de
positors consult them before making
investments. G. NJ. Freeman, secre
tary of the Salisbury Chamber o
Commerce, explained the work tha
had been done in WicomicO count,
and urged all of the investors to hol
on to their stocks, as there were sew
eral fraudulent attempts being mad
to secure the stock from the investor
Committees to Look After Investor
At the completion of the speakin
the following committee was name
to select the committee of two to re
present the Delaware investor
Z Thomas P. Kirby, of Milford; S.
Taylor, of Dover; James Fennimor
of Leipsic; DIR. Carlyle, of Harringto
and R. P. Davis, of Milford TT
committee met and selected Mr.. Ia,
lor and Mr.. Davis whose selection W;
accepted by the investors.