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MOTION FOR RECEIVERSHIP. Southern States Trust Company Re. quired to Show Cause. Columbia. March 21.-The illfated Southern States Trust Company, of this city, must show cause on March 31, before Judge Prince, why receivers should not be appointed to take in hand the affairs of this company. An order to this effect was obtained to-day by Attorney Alva M. Lumpkin, of Columbia, from Judge Prince, who is now presiding over the spring term of Court here. Only a few days ago this company, following an investigation by the insurance commissioner, was the subject of a special report by Insurance Commissioner McMaster. It was along the lines of the facts pointed out by the commissioner in regard to the company's atfairs that the motion for receivers was made this afternoon. It was stated in Mr. McMaster's report that the company would probably liquidate on April 1, and that the present concern would be taken over by the Barrett Invesment Company, of Atlanta. Mr. Chariton Barrett, prestdent of the Southern States Trust Company, has within the past year moved to Atlanta and organized the new company, which it is understood. has holdings now in the Southern States Company. The effect of Insurance Commissioner McMaster's report was to stop the company from doing business, and it is to show cause within thirty days why this should not be made permanent. The new order received to-day will bring up the question of receiver ship. This is the second effort in the Richland Courts to have receivers appointed for this company. When the matter came up before the prosiding judge stated that inasmuch as people wanted to make contracts with their eyes open as to the proposition, unless some very good reason were shown, he would not stop the company from doing business. Up in Spartanburg also the Southern States Trust Company was in the Courts. It was pointed out in the insurance commissioner's report that few loans were had, and that Mr. Barrett himself had borrowed about $4,000 from the company.
