Rensselaer Semi-Weekly Republican, Volume 36, Number 88, Rensselaer, Jasper County, 28 June 1904 — Gilman Case In Bankruptcy. [ARTICLE]

Gilman Case In Bankruptcy.

Goodland Herald. Late yesterday [afternoon a petition in bankruptcy in the Gilman bank case was filed. This action was advised by the attorneys after Mr. Oswald declined to qualify as receiver. After studying the legal points involved it was shown that three or more creditors could throw the bank into bankruptcy court any time within the next four months, should they choose to do so, and thus set aside the work of a receiver, and it was therefore considered a safer and more expeditious plan to go there at once. The petition asking for admission to the court was signed by John Hudson, Geo. Thompson, J. A. Wickersham, A. Lardner, Guy Litde and W. W. Gilman It will probably be fifty or sixty days before a trustee is appointed and the work of closing up the business is begun.