Jasper County Democrat, Volume 11, Number 83, Rensselaer, Jasper County, 24 March 1909 — IRON COMPANY RECEIVERS [ARTICLE]

IRON COMPANY RECEIVERS

Bethlehem Corporation Hae a Claim Agalnat Cornell Conoern. New York, March 22. —Receivers were appointed by the United States district court for the J. B. A J. M. Cornell company, two manufacturers of this city, with a plant at Cold Spring, N. Y. An involuntary petition in bankruptcy was filed against the company by the Bethlehem Steel corporation an two others, whose claims aggregated $46,375. The company has a capitalization of $2,000,000. The papers say the company has unsecured liabilities of $500,000, with uncompleted contracts of $1,000,000 and outstanding bonds, secured by a mortgage on the plant, amounting to $600,000. Preferential transfers are alleged in the petition.