Lexington, July 28—Craver Brothers, of this city, who operate the Dollar Store in Lexington, a store near the Lexington Chair Company plant on the edge of the city and also a store in Thomasville, have gone into the hands of a receiver. Attorney L.A. Martin, representing the petitioner, and Attorney J.C. Bower, representing the Messrs. Craver, went to Winton-Salem Monday and appeared before Judge Walter E. Brock, who signed the order in the appointing (of) Attorney H.S. Olive, of this city, as receiver.
Mr. Olive has been out of the city for several days and until his return the three stores will remain closed. He will determine as to what method shall be used to dispose of the several stocks of goods so as to realize the largest sum possible.
Liabilities are said to be about $15,000, with the assets of an undetermined amount, but estimated at $10,000 to $12,000. One firm in Baltimore is creditor for $14,000 of the total amount owed.
The stores were operated (by) Messrs. Walter C. and Lacy L. Craver, two young men of excellent standing in the community.
The action for appointment of a receiver is a friendly one, the proprietors consenting to the procedure.
From The Western Sentinel, Winston-Salem, N.C., Aug. 1, 1922.
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