Hearing Called On Gas Company
YAKIMA, Wash., Oct. 21 (Special)—Financial troubles of the
Northwest Natural Gas company
will be aired in federal court here
November 8, under an order by
Judge J. Stanley Webster, Spokane,
filed today in connection with proceedings for readjustment under
the new bankruptcy law.
Pending outcome of these proceedings all creditors of the debtor
company are enjoined from starting
or prosecuting actions for enforcement of claims.
C. W. Sears, present trustee or
agent in charge of the company's
property and business, was appointed federal trustee. The court approved a petition filed by R. B.
Newbern, president of the company,
who stated wells from which the
company supplies Grandview, Sun-
nyside, Mabton and Prosser are
shallow and may cease flowing at
any time, which would stop operations and render equipment worthless. It is held necessary to drill
for deeper and larger gas supplies
which are believed to exist. Assets
of the company are valued at
$1,000,000, largely in excess of debts.
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