Matheson Automobile Co.
MATIIESON AUTOMOBILE CO. William C. Shepherd Appointed Receiver Assets f 1,000,-000, Liabilities $800,000. Judge Witmer, sitting st Wilkesbarre, Pa., and Judgs Holt at New York, have appointed William C. Shepherd, president of the Matheson Automobile Co., receiver in equity. Reason given for the receivership is that the company is unable to meet its maturing obligations. Liabilities are estimated at about $600,000 and assets as shows by the company's books, about $1,000,000. L. L. Lewis, counsel for the reorganization committee of the Matheson Automobile Co., and J. N. Rosenberg of Rosenberg & Levis, counsel for the Bosch Magneto Co. and the creditors' protective committee, have issued tlio following statement: A plan of financial readjustment was prepared abuul a month ago which has met with the approval of about 60ft of stockholders and 607 of creditors. Pending completion of the plans or reorganization it was found advisable to apply for a short term receivership. Co-operating with Mr. Shepherd, president and receiver for the company, is a creditors' committee consisting of O. Jahn, treasurer of the Bosch Magneto Co.; H. P. Jones, presi-dent of Pblneae Jones ft Co., and E. S. Fretz, president of the Light 4 Foundry Co. The outstanding capital stock is about $2,500,000.