Jasper County Democrat, Volume 14, Number 22, Rensselaer, Jasper County, 5 July 1911 — ORDERS RECEIVER TO REPORT [ARTICLE]

ORDERS RECEIVER TO REPORT

Jtdge Says Engine Company's Affairs Must be Settled. Michigan City, Ind.. July 1. The muddle aidsing out of the receivership of the Western Launch and Engine works was settled when Judge S B. Tuthill of the superior court removed Martin T. Kruegee as receiver and instructed him to make his final report in two weeks and the stockholders to agree on a new receiver wiitic the same time. A petition ny the ptajoiity of stockholders for Kmegee’s re moral was based on the allegation that he was appointed without their knowledge and that he was employed by oie company as attorney to bring the action for the appointment of a receher. Wien Kruegee was appointed a month ago it was the intention to run the plant as a going concern, l*ut in the beariug it was ascertained ihat the company is so hopelessly involved that it can not be placed on its feet by a receiver. It was found that the indebtedness amounts to more than $50,000. The plant is worth $30,000. The court ordered that it be sold at once.