Show RECEIVERSHIP ASKED ASKE FOR THE UNION BAG I I AND PAPER COMPANY T TOK X N. J. J Feb 18 Chancelor 18 Chancellor 1 Walker alker In the time court of chancery toda today fixed March S for Cor a hearin hearing hearing- of ofa r ra a petition petton fol for foi the tIme appointment of t f a r re receiver re- re ceier tot for the Union Bag BaS Paper company compan a New ew Jersey corpora corporation lol with o of Authorized capital tal stock engaged In time the manufacture e and sale alc of paper bags paper and amid pul PUi pulp and andwood andwood n wood with branches In various wih sections sec see tons of the country and Canada Tho The petition petton which was presented by b- Sarah S S. Aldrich ldrich of or Glenns Falls Y I i I and others does not allege h Insolvency ol I but charges charge that the company compan lg Is beInG be be- be lUg InG mismanaged through h incompetency on time the part Of or its Is directors anti and further fur fur- ther that the assets of the time company compan h by 13 reason of Its Is mismanagement are gradually gradual diminishing I It i In is charged chars that Edward Edard T T. T Bartlett Hartlett Bart Bart- I lett lct president of the company compan has his had md no practical training qualifying him for the position he holds an and It I is cited as evidence c that the company is being mismanaged that while hUo the business gs In which the company compan Is engaged engage has 1158 doubled in this country countr In the thc past pait few ew years ears the thc company with Wih splendid fa facilities fa- fa duties cites has made no pro progress ress It I is f further charged that through the tho establishment df sif d sales agencies and the thc payment of these agencies of or large o commissions tile the company Is sacrificing ing large dividends ends and is su suffering ln to such an extent through h mismanagement mismanage mismanage- ement e- e ment meat that it Is no longer lodger able to pa pay dividends upon Its is preferred stock Further It I Is charged that from Its Us conception the defendant company compan has hs been manage managed upon an Improper fraudulent principle and ansi its s has been conducted for tOI tho the benefit of ot otIs Its Is directors or some hone some of then them at the thc o of time the company compan i Itself if It I Is 18 also charged charSe that the tIle directors of or the tile company compan have hare practically no financial Interests In the aHa affairs Irs of o the concern for the tIle board boar of directors In Including In- In eluding the thc officers own 1 0 only about i t per cent of or the tile capital stock |