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Show OHIO RECEIVERSHIP i BR OPPOSIIIDI Committee Appointed to Represent Creditors May Lose Local Claims. HAD NO AUTHORITY If Eastern Bondholders : Foreclose the Mortgage, Heinze May Control. A bitter opposition to tlie actions of the committee appointed recently to represent the local creditors of the Ohio Copper Mining company and their interests in the appointment of an ancillary receiver developed at the meeting of the creditors held yesterday yester-day in the local offices of the copper company. One faction claims that the action of the committee, headed by Melvin H. Sowles of the Salt Lake Hardware company, will result in the local creditors being unable to collect their claims. Mr. Sowles answers that the committee was acting for the best interests of the local creditors. Those opposing him reply that the committee exceeded its authority. The difference of opinion is in regard re-gard to the confirming of Morris J. Hirsch and George C. Austin, attorneys attor-neys of New York, appointed by the i court of primary jurisdiction in New York as receivers for the company, and Colin Mcintosh, representing the local creditors, as ancillary receiver by Judge John A. Marshall. "The committee appointed ap-pointed by the local creditors, however, wishes to have Colin Mcintosh appointed ap-pointed sole receiver. Judge Marshall has taken the appointment of the an- ! ciliary receiver and the confirming of . the receivers under advisement. Some of the local creditors are of the opin- ion that F. Augustus Heinze, through 1 ' the opposition that has developed to J the confirmation of the New York re-! reivers, may again secure control of i thp copper company. j Mr. Austin called a meeting of the : creditors on September 22, and after assuring them that every creditor would be paid in iuii ana tnat tne copper cop-per company would be reorganized, be ' explained that he and Mr. fiirsch were viisinterested attorneys, appointed by ! the New York court to protect all of the interests of the various creditors. i He then suggested that they appoint some third man to aid in the work. Agree on Ancillary Receiver. Joseph H. Silver, president of Silver Bros. Iron Works Co., and one of the creditors present, then suggested the appointment ap-pointment of Colin Mcintosh as the man that the creditors would like to have the court appoint as ancillary receiver re-ceiver to aid Mr. Hirsch and Mr. Aus-j Aus-j tin. This seemed to be the consensus ! of opinion of those present and the ! meeting was adjourned. I j Chairman Sowles called a meeting ; of the creditors at the Commercial club I " the following afternoon and Mr. Sowles I was appointed chairman of the follow-1 ing committee: J. J. Burke, James F.I : . Marshall and F. S. Murphy, which com-; i mittee was to represent the creditors ' ; 1 and confer with a similar committee ' from the bondholders and also to assist in getting Judge John A. Marshall to appoint Mr. Mcintosh as an ancillary receiver. There being no opposition the meeting adjourned. Committee Employs Attorneys. According to the report of the committee com-mittee to the creditors at the meeting yesterday, they employed James In-gebretsen In-gebretsen to look after the interests of the local creditors, and decided to have Judge Charles C. Dcy present a petition peti-tion signed by the committee protest-' protest-' ing against the confirmation of Mr. Austin and Mr. Hirsch as receivers, and praying that Mr. Mcintosh be the pole receiver appointed on the ground. The question came up regarding the amount to which the copper company was indebted in-debted to the various creditors, and it was brought out that the members of the committee had the largest claims against the company. Mr. Pembroke said that he bad been under the im pression that the creditors had decided to ratify the action that had taken place in New York, and that the company com-pany bo reorganized on a harmonious basis and placed iu a condition where it would pay, as it was unwise for the state to lose any opportunity of maintaining main-taining corporations that employed Euh a large number of mpn. When Mr. Austin and Mr. Hirsch appeared before Judge Marshall yesterday yes-terday morning for the purpose of hav- iiig thoir receivership confirmed, and alter they had prsfiited their petition Bsking that Mr. Mcintosh be appointed the ancillary receiver, thev were confronted con-fronted bv Judge Iey who protested t : t r confirmation and the appointment " of Mr. Mcintosh as ancillary receiver, and prayed that Mr. Mcintosh be appointed ap-pointed sole receiver on the ground. See Heinze's Hand. The meeting yesterday afternoon of , fhc- creditors was called bv Mr. Austin tor the purpose, of determining whether ' the a c t i i n of the committee wa s the consensus of opinion of the creditors. After Mr. Auftin ha1 explained what had taken pltn-e and that Judpo Marshall Mar-shall had taken the matter under advisement, ad-visement, it developed that the committee's com-mittee's action was not the consensus of opinion. Mr. Pembroke immediately immedi-ately arose and protested, as did Mr. Silver and otherR. There are those amonc th creditors who believe that they see the band of T. AujruHtua Heinze arousing the opposition op-position to the confirmation of the New York receivers in order that the New York bondholders will foreclose on the mortgage they hold, soli tho copper company out and thus permit Mr. Ilcinzc to 'apain secure control of1 Mr. Austin said vesterdav that the onlv object of callinp tho meutiug of vfsterdav was to present the rae to the creditors, and also to explain to them that now it would be difficult if not impossible to present tho cann to the eastern bondholdrn as anything Iphh than a hostile action on the part of the local creditors. |
