\lr Pierson wrote City Clerk Ryan
on Friday that he would he in Putnam
me next day to meet the highway
committee, but be failed to come then
A Hartford paper lias the following:
It ii- said that the assets of the
corporation exceed the liabilities, not
including profits oil contracts that are
now under way, but tliu corporation
has not tiie money to proceed with the
work on the contracts, and the season
for ouidoor work in the construction
line nas arrived. The corporation is
capitalized at $4.3,UUU, and undoubtedly
the volume of business done by the
corporation has been greater than the
limited capital warranted. To add to
the embarrassment of shortage of
capital, some of the money due the
corporation on contracts has been
garnished and some of its machinery
has been attached to secure judgment
on claims in suits brougut t>y ciedit
ors. li is not expected that there will
beany let up in the activity of the
corporation, for Mr. Holden, under his
appointment, lias authority to carry on
the work, and this authority will he
followed by an order of the court per
mitting the receiver to borrow money.
The hearing on the confirmation of the
appointment will come before Judge
Case in the superior court on May 11.
Mr. Holden qualified as receiver by fil
ing a bond for $20,000 yesterday.
