Matheson Automobile Co.
to the Motor Racing Association. C. W. Matheson, president of the Math-eson Automobile Company, the distributers of the product of the Matheson Motor Car Company, with headquarters In Manhattan, made the following formal statement at Wilkes-Barre last night, in answer to the story which waB sent out from Wllkes-Barre yesterday, relative to the Matheson Company asking for a receiver: "The action of the Matheson Motor Car Company In applying to the courts of Luzerne County, Pa., for a receivership, i entirely friendly, and In reality spells but a step in the direction of the expansion of the manufacturing company. "The immediate cause for this step was brought about by the action of a few creditors, who were pressing their claims to the detriment of the company. For the conservation of the Interests of all. the receivership was decided upon as a friendly protection. "The indirect cause leading up to the action was the delay In the Bhipment of materials to the factory, the told, wet spring weather and general slump In the stock market, which affected deliveries j on dealers' contracts for several hundred cars. If the dealers had not been restrained, because of these conditions. In taking the cars contracted for, the neces- I sity for this action might not have arisen, j "The company is perfectly solvent, the , assets exceeding the liabilities By 748.20. The company is rapidly converting its materials Into finished cars, and will continue to do so, in order to execute the contracts now In hand, and in view of these facts, It is expected that the receivership will be temporary only. "The new model, 'Silent Six' Matheson, has proved a great success. It has won first prises In the six successive hill climbing and endurance contests In which ic has been entered, and with these successes the future of the car Is assured. "The Matheson Automobile Company is not In any way affected by the action of the Matheson Motor Car Company, the latter being merely the source of supply of Matheson cars which are marketed by the company of which I am president."