The Washington times., 1923-04-23
COL DE.NC|l
UNABLE
TO PAX
Court Names TWO Receivers
With Consent Of Officers
Of Corporation.

A suit filed in the District SUI
preme Court today by the Inter-
national Finance Corporation
alleges that On April 18 Golden
a CO., 922-2 Louisiana avenue,
gave he cor poration q check for
] SO, I6O 90, drawn on the Cont
mental Trust Company; but that
upon presentation of the check
at the bank the next day it was
ndishonored for want of sufficient
funds
It was on April 10 that William
Golden Carter, president Of the
Golden Company and its direct
ing force, committed suicide at
his home in Chevy Chase by
shooting himself in the head.
Two Receivers Named.
After the filing of the suit and
upon the application of the Inter
national Finance Corporation, JUS
tice Siddons of the District Supreme
Court today appointed William FL.
Sholes and Arthur N. Murphy re.
ceivers for the firm, with directions
to take charge of the business and
to wind up its affairs.
The plaintiff company, repre-
scented by Attorneys Douglas, Obear
and Douglas, declares that MIR.
Carter was in charge of the finan-
cial affairs of the firm of which he
was president.
The statement is also made that
the defendant firm transacts a
large business, handling six cars of
perishable goods. eggs and vege-
tables every day. The bond Of the
receivers was fixed at 100000.
Immediately after the petition of
the International Finance Corpora
ton was put on record, A. N. Muir
ply, treasurer of Golden & Co.,
filed his answer in the District SUI
preme Court admitting the con-
Germs Indebtedness and inability to
pay.
Murphy, represented by Attorneys
Walter A. Johnston and Fred s.
Swindell, also stated that the board
of. directors of the firm held a meet.
ing April 90 last, at which it was
unanimously agreed that 1t would
be best for the creditors and stock
holders of the commission firm il
receivers were appointed by the
court.
It Is understood that a similar
suit in the Alexandra county court
house will be filed later by the
international Finance Corporation
against the Rosslyn Packing Com
pany, branch Of Golden & Co.
The directors of Golden & Co. is.
sued the following statement today:
IAN application was today filed
by one of the creditors of Golden
& Co., Inc, Of Washington, asking
the appointment of a receiver for
that corporation.
This action was due to the sud
den death on Thursday last of Mr..
William G. Carter, it's president and
active manager of the business,
which is and has for a long time
been considered probably the largest
commission house and food dealers
in the District.
while this action was taken nv
creditor, it is understood that the
board Of directors will not onpose
appointment of a receiver. as the
directors are all actively engaged in
other lines Of endeavor and lack the
experience and time to conduct SO
large a business.
"Mr. Carter had grown I'm with
the house of Golden, had been its
active head for many years, and
its president for the last nine
years, and the board of directors
had no one available as his sue.
cessor to Immediately take up the
management of the business, and
the nature Of its stock on hand.
partly consisting of more or less
perishable food commodities, made
1t necessary for immediate action.
THE death of Mr.. Carter not
only removed the companys active
head. but its principal owner, and
In the interest of creditors and
stockholders it was thought best to
liquidate.
The house of Golden maintains
accounts with several local hanks.
and II - understood that ali are
practically occurred"