Evening star., 1947-01-04
Veterans 10 Get
Builders PIanon
Homes Tonight
200 Who Deposited
Money With WiIIioms
To Act on Proposal


Money With Williams
To Act on Proposal
District home builders today had
almost completed their plan to pro-
vide houses at reduced cost for vet
Grams who deposited from $500 to
81 900 each with George H. Williams
for houses that never materialized
Edward r. Carr, president of the
Home Builders Association of the
Metropolitan Area, will present his
groups proposals to about 200 of the
veterans at an o'clock meeting to-
might at the Veterans Service Center.
While he refused to discuss details
Of the plan before the meeting, Mr..
Carr said ideas he outlined to vet
Grams two weeks ago have taken
definite shape.
II think they'll be pretty well sat
isf1ed with what we have to OFFER"
he added.
The ideas were that homes could
be obtained either by starting a new
project sponsored by the association
or by purchasing separate homes
from builders at decreased prices.
Cooperation is Praised.
Mr.. Carr also praised District
builders, material dealers and mort
gage lenders who have volunteered
services to make the reduced-cost
plan possible, he said.
Ernest F. Henry, executive secre-
tary of the group, pointed out that
the plan gained additional impetus
yesterday when Williams Properties,
Inc, was declared bankrupt in
District Court. He said the action,
which ties up all Williams holdings
in bankruptcy, will permit veterans
legally to enter other contracts. At
the same time, he added, they will
not endanger any chances they
have of getting back deposits they
made in contracts with Williams.
Mr.. Henry also told of attempts
to complete the Gwynn Park de-
velopment, near Clinton, Md,
project of Williams Properties, Inc,
which Williams claimed was still
solvent. The plan fell through when
full consent of the creditor veterans
could not be obtained, he said.
The plan was to be financed by
the T. B. O'Toole Co. of Wilmington,
Delaware, which granted Williams a
$290,000 loan to build Gwynn Park.
$55,000 Reported Used.
Austin Garfield, attorney for the
Wilmington firm, said about $55 900
of the loan actually was used. The
firm holds mortgage on the project
and intends to see that the homes
are completed, he said. The loan
was to be for construction of SIS
homes.
Meanwhile Williams, through his
attorney, Robert w. Mccullough,
has until Thursday to file lists of
all assets and creditors of Williams
personally and the George H. VIII
liams Co. with John A. Bresnahan,
District bankruptcy referee.
Mr.. Bresnahan said Mr.. McCul-
lough, probably on Monday, will
also be given five-day notice to
file assets and liabilities of Williams
Properties, Inc. The Bankruptcy
Act provides the lists shall be filed
five days from declaration of bank
ruptcy, he explained. But as
courtesy to attorneys, I have been
allowing them five days from the
time the bankruptcy order reaches
my desk" he added.
After the lists are filed, Mr..
Bresnahan said, he would issue 10
day notice of general meeting of
all creditors. At that time, they will
elect trustees to administer the
assets.
Service Center Helps.
To aid veterans with proof-of-
claim forms for deposits they made
on homes, the Veterans Service
Center has offered to fill out and
notarize the forms and make photo
static copies of all contracts. BY
this morning more than 100 veterans
had applied for the free service, ac-
cording to Waldron E. Leonard,
director of the center.
Meanwhile, Henry S. Goodman,
attorney for a number of the vet
Grams, said he intends to move
that all creditors and assets in
volved in the bankruptcies be con-
solidated into one list to simplify
the proceedings. He added he
doesn't intend to take the action,
however, until I have a chance to
see the separate lists that Williams
submits"
Mr.. Mccullough told reporter
he would have no objection to the
consolidation, but that, he was Ger
tain that creditors who are involved
in only one of the bankruptcy ac-
tions would object.
At the same time, Mr.. Goodman
said Mr.. McCullough's statements
in District Court yesterday about at
tempts to complete the Gwynn Park
project looked like an obvious move
to whitewash Williams"
eff Williams Properties, Inc, were
really solvent, they certainly had
ample chance to prove it," he de-
clared. The court hearing was called
to determine whether the corpora
ton was solvent.
In his statement. to the court, Mr..
Met Cullough said that Williams
could get no cooperation from at
torneys of the creditors toward max
ing plans to complete homes" He
stated he would not contest the move
for bankruptcy, but still eontended
Williams Properties, Inc, was SOL
vent.
Brownie Scout Leaders
To Meet in Falls Church
Brownie Scout leaders will meet
from 10 am. to 2::30 pm. Wednesday
at the Girl Scout House in Falls
Church for oon.dav cMIrSa II,