The Waterbury Democrat., 1941-10-13
McKessor1, Robbins
 Settlement Tinted
Attorney Lewis Included Among Negotiators for Pay-
 nlent of Claims in Excess of $l, 100000

McKesson &. Robbins, Incorporat- ed of 10000 shares of the common stock of McKesson & Robbins, Limited outstanding in the hands of the public at g per share.
 Holders of preference stock are given until November 1st, 194l, in which to deliver their shares to the Bridgeport. City Trust Company as agent for the shareholders in or- der to make the proposed settle inent possible.
 If within that time 95 per cent of the outstanding preference stock is delivered to the Bridgeport-C City Trust Company as agent, 1t Is pro- posed that an arrangement be en- tered into by the Bridgeport City Trust Company as agent and Me- Kesson & Robbins, Incorporated for the payment of the above.mer- toned sums and for the dissolu- ton of McKesson & Robbins, Lirli- tied. This arrangement is to be subject to the approval of the Unit ed States District court of the Southern District of New York, which court has Jurisdiction over the reorganization of McKesson & Robbins, Incorporated.
 As part of the general settlement, all of the assests of McKesson & Robbins, Limited after the payment of Its creditors, including auditors and attorneys and all expenses of dissolution, are to be turned over to McKesson 6 Robbins. Ificorpor- ated. McKesson & Robbins, Limited is thereupon to be dissolved.
 The claims to be settled were originally filed on behalf of McISes. son 6S Robbins, Limited against William J. Wardall, trustee of the estate of McKeSson & Robbins, Inc corporated in the reorganization proceedings in New York early in 1889. McKessori & Robbins, Limited was joined in these claims by The Bridgeport City Trust Company, of Bridgeport, and The R. F. Griggs Company, of Waterbury, who have endorsed the letter to sharehold lders. These two companies, together with McKesson 6 Robbins, Limited and McKesson & Robbins, Incorporated, were parties to an agreement en- tered Into in 1927 under the terms of which McKesson 6s Robbins, In- corporated guaranteed that McTxes- son 6s Robbins, Limited would have a net profit of Si00,000 per year. It was upon the basis of this guaranty that the stock was originally under written.
 McKesson 6 Robbins, Limited was organized in 1927 by the late F. Donald Coster for the ostensible purpose Of trading in the British Empire. The activities of the Limited Company were carried on as part of the business of McKesson &s Robbins, Incorporated. The crude drug business, to which the Limited Company was largely devoted, was under the personal direction of MT. CoSter, who was generally regarded as an expert in that lire. Follow ing his death in December, 1888 it was revealed that the Company, which according to It's books and audited statements had been trars- acting @ profitable business, had in reality done no business at all. 1n- stead of making substantial profits, McKesson & Robbins, Limited had actually used up its entire capital in payments connected with the Cos ter frauds.
 The original preference and part of the common stock in McKesson & Robbins, Limited were sold almost entirely to Connecticut residents and are still largely held within this state. A majority of the common stock has at all times been held by McKesson & Robbins, Incorpcr- ated.