Meeting of Webb Company Creditors
In response to a call of the creditors of the Webb Company, manufacturers of motor fire apparatus at Allentown, Pa., last Tuesday, about 40 representatives were present. The purpose of the meeting was to discuss the affairs of the company and to evolve plans that would be beneficial to both the creditors and the concern. A report of the company’s financial condition showed the liabilities to be $557,844 and the assets $557,204. It was also shown that the company had orders on its books for $373,000 worth of new business, and within a short time would be able to get upon its feet if time is allowed. 1 he outcome of the conference was that Robert E. Wilbur, a business man of Allentown, was decided upon as receiver, if agreeable to the courts. A. C. Webb, former manager of the concern, who owns $50,000 of the $415,000 capital stock, was present To a representative of this magazine Mr. Webb said that he would probably again start manufacturing motor fire apparatus but not in connection with the old firm.