Leadership

FIRE AND WATER ENGINEERING

Issue 4 and Volume 49.

FIRE AND WATER ENGINEERING The unsecured creditors of the Hudson River Water Power Company and its subsidiary company, now in the hands of a receivership, have organized to protect mutual interests. The creditors will be represented in all negotiations by a committee composed of James H. Caldwell, of Troy; Addison B. Colvin, of Glens Falls; John K. Walbridge, Edward B. Ashton and Frank G. Howland, of Saratoga. The power companies have been in the hands of the receivers for two years and the profits under the receivership now amount to $350,000. Several preferred creditors have filed claims and an effort is being made through the courts to have the claim of the National Contracting Company thus classified. The claim of the contracting company, which built the power company’s dam at Spier Falls, is $250,000, and the payment of this would practically wipe out the profits of the receivership. The unsecured…

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