CARR, BOYD & COMPANY CREDITORS GRANTED PETITION TO PUT FIRM INTO BANKRUPTCY
 

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The Jackson Herald, Nov. 21, 1912

Bankruptcy

Carr, Boyd & Co., of Maysville, One of the Largest Supply Concerns in Northeast Georgia Fails. Its Doors are Closed, and Receivers Appointed for the Business.

Carr, Boyd & Co., of Maysville, have failed, the doors of the great concern have been closed, the firm and the members put into bankruptcy and receivers have been appointed to take charge of and wind up the business.

The petition to put the firm into bankruptcy was brought by Colonel H. H. Dean, of Gainesville, who represented several creditors.

Colonels W. A. Charters and J. J. Strickland resisted the effort to put the big establishment into bankrupt court. They said some of the members of the firm represented to them that while their liabilities were $250,000, their assets were $370,000. That if the firm was left alone, and leniency shown by creditors, it could continue to do business, and the creditors would receive their money, for they had plenty of assets to pay every debt. Put them into bankruptcy, and it would bring disaster and financial ruin to the firm, and the creditors would get mighty little, as creditors always get little out of bankruptcy proceedings.

The hearing was had before Judge Newman on last Saturday, and attorneys representing all the other creditors insisted on putting the firm into bankruptcy. The petition was granted, and Mr. W. F. Morris, of Maysville, and Mr. Ferris, of Atlanta, were appointed joint receivers to take charge of the business, together with the crops, rent the lands belonging to the firm and the members to collect the debts, sell the goods and wind up the business.

This failure shook this section, for Carr, Boyd & Co. was not only one of the biggest retail concerns in northeast Georgia, but it brought loss to many others, who had given financial aid to the firm, and wrecked and ruined the fortunes of all the members of the firm, composed of B. F. Carr, A. G. Boyd, F. M. Parks, A. B. Smith, C. L. Carr, H. D. Watkins, D. R. Marlow, F. H. Boyd and H. Lyle.

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