Show NEW LE co TO ami at a 1 I meeting of the friner former stock holtti s of the caronan Pa roan equitable held last saturday in the court house a motion carried to lo the effect that ten davs be given former stockholders e r ot that concern to voluntarily a assess s b e s themselves them seles wes in an all amount equal to at la fifty per cent of the stock owned in by thern before the institution went into the hands of its creditors tvr lor tile the pm pill pose of redeeming title to the property propel prop eity ty involved with a view L to nning a anew new company com piny the file leport submitted atthe illg showed ll oWed thit that at time the compall went into the hinds hands of its cred iguls it vas HAS aing about 4 2000 or thit that since that time that indebtedness has been reduced t to tj tanni gh tile the sale of property the of accounts and profits on oil the business conducted tha ani lus has been paid on the of the day mercantile co since that property and its obligations were assumed by this company au an I 1 that the combined debts of the two tivo institutions which are all under tle cie one management at present are about 43 ur or approximately the same as the debts of the equitable in 1922 it wt was pointed out that former r of the equitable have no lagal claim on oil any property for malv owned by that company but in is as much as the assets are estimated to be considerably in excess of liabilities it was asis felt by the commit teu in ch charge irge that ar forma aj stockholders P hillo durs should have preference of investing to the amount of at least fifty per cent of their former holdings N mth ith the tc idea that if that much mich amid in title could be to tl them and that the store eventually wo would redeem itself mr Mais deil ot of the committee epla inel however that a new kompany would be imperative because corporation taxes had not been pail paid and the companas comp anys license to do business i evoked revoked it is mors more than probable that less than ten tea pet per vent of the old stockholder will pay the assessment so viat a new company will undoubtedly be formea to take over the busic is s |