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MR. BILLING A BANKRUPT Ss Adjudged by United States Court. THE CREDITORS TO MEET Affairs of Josiah Morris & Co. to Be Settled. Schedules of Assets and Liabilities will Be Filed, and Trustee Will Be Selected to Collect Assets. F. M. Billing, who did business in Montgomery as Josiah Morris & Co., and a has been bankers, January, 1901, suspended adjudged business in bankrupt by the United States Court and has been directed to file a schedule of his assets and liabilities with the court on or before August 31. This means that creditors of Josiah Morris & Co., must look to the United States Court for adjustment of their claims and that agreements made between Mr. Billing and the creditors of Josiah Morris & Co. are null and void. January 15, 1903, a petition that Mr. Billing be adjudged a bankrupt was filed in the United States Court by Greil Bros. of Montgomery, the Merchant's National Bank of Cincinnati and the Central of Georgia Railway Company. creditors of Josiah Morris & Co. In this petition it was shown that the bank was due Greil Bros. $2,500, the Cincinnati bank $2,000, and the Central Railway $1,800. Mr. Billing Contested. Mr. Billing contested the petition saying that if given time he would be able to pay his creditors. It will be remembered that soon after the bank failed an agreement was entered into between Mr. Billing and the creditors to pay claims in semi-annual installments. Default has been made on some of these payments. The largest creditors of the bank were the city and County of Montgomery, each of whom had approximately $100,000 on deposit in the bank at the time of its suspension. In their petition against Mr. Billing Greil Bros. and the other two oreditors alleged that he had committed an act of bankruptcy on December 22, 1902, by conveying to Ray Rushton certain real estate in Jefferson County with intent to prefer Mr. Rushton over his other creditors; and that he paid to other creditors whose names are unknown to the petitioners a greater proportion of their claims than were paid to other creditors, with intent to prefer them. Statement by Mr. Billing. The matter was contested by Mr. Billing and has been pending some time. Finally Mr. Billing gave his consent to the adjudication in the following paper filed with the Court, which sets forth his financial condition: "To the Honorable Thomas G. Jones, Judge of the United States District Court for the Middle District of Alabama: "The undersigned, F. M. Billing. against whom a petition was filed on the 15th day of January, 1903, asking that he be adjudged an involuntary bankrupt, respectfully showeth unto your honor: That on account of the changed condition of affairs affecting his estate, and believing that it is to the best interest of his creditors so to do, does hereby unconditionally consent that the court may enter up an order adjudging him a bankrupt. "In taking this action the under signed feels called upon to state to the court and to his creditors that in so doing he denies that he, at any time, committed any act of bankruptcy, nor has he any creditor to obtai nany preference over any other creditor; but since the filing of said petition some few of his creditors have obtained judgment upon the unpaid instalments due on the agreement with all of his creditors, and being advised that an execution issued under these judgments could be levied on his property in the event the petition in this case should be denied, he prefers to be declared a bankrupt rather than allow the impatient creditors to get any advantage over the great number of his creditors who have been so patient. Acted for the Best. "While the undersigned feels greatly disappointed that he was unable to meet the Instalments at the time specifled In the agreement signed by all the creditors, as they became due, he feels that all of his actions up to the time have been to the best inof his his obtained more creditors present terest have creditors, and that by work their it decision to allow him to try to