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Show Came cs a Surprise. New York, Dec. 30. Announcement that the AUIs-Chalmers directors have decidcu not to pay the interest on its first mortgage bonds due Januury 1, 1912, thorebj throwing the company into a receivership, came as a surprise to tho financial district, which has received assurances that the corporation's corpora-tion's difficulties might be tided over There aro two protective committees commit-tees in the field, one representing the bondholders and tho other the preferred pre-ferred stock. James N. Wallace, president pres-ident of tho Central Trust company, is chairman of the bondholders' com-jnittcc. com-jnittcc. No action looking to a receivership re-ceivership can be taken until default has actually occurred. The bondholders will moct todnv. It is understood the company's assets are far in excess of Us bonded debt. air that from $5,000,000 to S6.000.000 as working capital would bolp tho company out of Its present embarrassment. embarrass-ment. As far as can be learned today, to-day, thero. is no disposition on the part of the bondholders to supply the capital. ", P Tt ia reported by officials in charge of the work on the Panama canal that Is now a surplus of labor In the zono. |