Evening star., 1947-02-01
Williams Clients Elect
Trustee, Told Of Prior
Claims on Assets

After eleeting a trustee to adj
minister assets of George II. Will
liams and his bankrupt real estate
firm, about $50 former GIs who
gave the real estate man down pay
ments on homes are no clearer today
about possibilities of getting their.
money out of the confused maze
Of Williams finances.
At the first meeting of Williams
creditors held yesterday in the
Municipal Court Building. they did
learn, however, that Williams sales
men may have first chance at the
assets.
This was revealed by John Al.
Bresnahan, District referee In bank
ruptcy, vino presided at the session.
He said priority disbursements OF
| the assets include debts owed sales
men, taxes due and administrative
costs of the trustee.
$l5,26I Due Statesmen.
In his bankruptcy declarations,
williams said $15,261 was owed to
81 salesnen. Mr.. Bresnahan said
he has received only 18 claims from
former statesmen, however, for back
wages and commissions. Total taxes
due, according to the listings. come
to $1,06025.
The creditors, who packed the
courtroom of Justice Bolitha j. Laws.
unanimously elected Samuel M.
Greenbaum trustee of assets of both
Williams personally and his firm,
williams Properties, Inc.
Mr.. Bresnahan said he has re-
ceived 1876 claims for total of
$l53, 3,8i788 for the personal bank
ruptcy. About $50 Of the credi-
tors he had listed were veterans
who had deposited from $500 to
81 900 each with Williams.
Tells of Accounts.
williams said he had maintained
three accounts at the Seat Pleasant
(MdJ Bank-one for the George H
Williams Co., one for Williams
Properties, Inc, and one for the
Williams Lumber Co.
But they were all the same" :"
Williams declared. They all be-
longed to me. If one was a little
snort. it borrowed from another" !"
Later, when John Alexander, at
torney for several of the creditors,
asked whether he considered him.
self trustee for deposits that
shouldn't be touched, Williams said:
4No, we didn't look at it from that
standpoint, unfortunately"
Under questioning by Mr. Bresna-
han, Williams said he had 30 per
cent of stock in Williams Properties,
Inc, but that he paid no actual
money to get the shares. He added
that he had "about $4,000 in the
works somewhere though"
Williams told his questioners he
was a little deaf, and continually
cupped his hand behind his ear to
hear the queries.
Unable to answer questions, VIII
liams frequently remarked that 'it's
all in my books" Asked whether he
had often looked at the books, he
said: mo, that's what paid book
keeper $85 a week for"
He said, however, that a total of
$1O5, 900 was collected from veterans
as deposits on homes, and that his
activities made a profit of $4,000
during the first nine months Of
1916.
Mr.. Greenbaum said more specific
Questioning would be carried on at
the next creditors meeting, which
Mr.. Bresnahan set for 3 pm. Febru-
airy 81, in the same courtroom. The
meeting will be for creditors of both
Williams and his corporation. An
advisory committee of creditors to
advise Mr.. Greenbaum will be
named at that session. a~
Mr.. Bresnahan also announced
that creditors who have not yet
filed claims may do so within the
next six months. He also said that,
unless objection is registered by
March 81, Williams will be declared
| free of debt at that time,