Show all TO as very worthy suggestions BY A G sutherland attorney for many creditors of dunn co assigned bead his views mr A G sutherland representing a creditors of dunn co assigned has rent to each of hs clients the following letter prevo utah april 1891 on the day of april month dunn company merchants of this city assigned for the benefit of their creditors representing as attorney different firms as against dunn co in amounts aggregating ten to twelve thousand dollars looked the aa sien ment over carefully and found it as toa orm and by law required but found some accounts had not been listed and alt the property of the assigners assignors assign ors had hot been included as per instructions I 1 at once filed suits in attachment but suppressed the issuance until the situation could be fully understood protecting my clients I 1 did not believe they or any of them cared to fight an assignment made in good faith so the papers were left with an officer to berv at once should anything occur to necessitate such procedure at onci I 1 looked the matter over and now find an additional assignment recapitulating the facts in the first and adding the be fore left out indebtedness and putting in all the property of the assigners assignors assign ors dunn co at a meeting representing resenting reo you aud other clients I 1 suggested to let the assignment stand but that the assignee a mr ford should give a bond in thirty thousand dollars and further that as ford although bookkeeper book keeper of dann boand apparently a good man still was comparatively unknown man therefore some bood business men should be selected to take charge of and manage the business and tl at the business under auch management should go on further saying that tifa proper man should be selected belec ted and a bood and sufficient bond given I 1 be liempd my clients would not only give time on a thorough and entire pro raca plan but would assist to carry the business by furnishing from time to time such goods in their respective lines as might be absolutely necessary to carry on the business to a completa and satisfactory paying adjustment thiera are several reasons lor my recommendation of this course first lo 10 break the assignment means not only expense to clients but ruin to the firm whom I 1 believe to be acting in good faith second ered creditors to the extent perli aps of ten thousand dollars would get their amounts others would be left third the business reputation of evera firm in this city would be injured and failures without number might oc cur further looking the situation carefully over so as to arrive at my conclusions I 1 find this state of facts lat year this little city located as it is with a bright future and a solid past had a boom that boom was simply an unloading ot properties upon individual citizens and representative men bufa little outside into taft town the anticipation was such however that makiv merchants zealous as were the traveling men to aall bought wild aiom every house in the country the result wis nil and hence the almost calamity my impression ia I 1 bat the only way to avoid the spread of such affairs is the course I 1 have suggested building and other legitimate enterprises enter prizes alio fairest prospect is before this town so far as to generalities now as to this firm their abets carefully handled will much more than meet the liabilities my so far as necessary have each firm creditor to furnish ruih goods as may be requisite to keep business alive and that such new goods shall be paid for either on receipt of invoice or at thirty days but in any event before any dividend on accounts in the assignment nexhat such times as agreed upon by creditors dividends shall be declared pai dand that the indebtedness i e accounts due the creditors shall bear legal interest from the date of assignment sign ment until paid aliis pro gramme fully carried out every creditor will get in full his account in tho meantime I 1 do not and will not release the hold I 1 have tor my chianta by as in order suits filed the greatest trouble now before me is to harmonize theao who recently loaned casbana cas band wee preferred all must coma in pro rata such gentlemen are my views do you ederae tham if so let me know before may ath 1891 with full power to act for you as attorney I 1 will send you corrected list of liabilities and aa abets the liabilities do not increase to any great extent the increased as seta more than twice offset tho increased liabilities let me know at once your conclusions in th a matter very respectfully A G attorney P S the man mr ed L jonee at present selected is good and thorough and could give any bond asked we can easely trust him hia bond is thirty thousand dollars he ia to manage the business A G S |