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Show NELDEN DRUG IN RECEIVED BANDS Salt Lake. May 7 The W. A. Nel-den Nel-den Drug company, one of the oldest and largest concerns of Its kind in this city, Is in the hands of a receiver, receiv-er, Judge C. W. Morse yesterday designating des-ignating George E. Ford to assume charge of the company's affairs. A bond of $175,000 Is required of tho receiver. re-ceiver. The receivership closely followed the granting of a judgment yesterday against the drug company In favor of O. R. Peters for $10,598.90. This amount reprcaonts principal and interest in-terest on a note of $9,550 executed July 1 to Joseph Young and payable on demand. The directors of the W A. Nelden Drug company decided, at a meeting held last Saturday, to discontinue the business. Tho company Is said to have a good business but a limited capital. It waH founded In 190J by the late W. A. Nelden. Three years ago a change of management was made, and since then the company has made some good strides toward success, but Its exponslvo location and rapidly Increasing In-creasing business were thought to be too much for its present capital. Advantageous Ad-vantageous opportunities to dispose of the assets of the company without loss to the creditors also had something some-thing to do with the decision to close the business. |
