Greensboro News, Nov. 21
The Byrum Construction Company of Oxford went into the hands of a receiver yesterday on petition of Leo E. Byrum who holds the majority of the capital stock.
Walter M. Gray was named receiver by the court, and he gave $5,000 bond. This company has constructed several of the new consolidated schools for the Guilford County Board of Education and until yesterday it was thought that the company was financially sound. Mr. Byrum claims that his company has assets worth $24,000 and liabilities of approximately $22,000. It has a capital stock of $50,000.
The first hint of the break came yesterday when a lien was filed by the Vance Plumbing and Electric Company against the construction company and the board of education jointly on the Rankin and Greene township school buildings. The Vance company claims that $1,850.31 is due them on a contract of $3,000.
From the front page of the Oxford Public Ledger, Nov. 25, 1924
newspapers.digitalnc.org/lccn/sn92073078/1924-11-25/ed-1/seq-1/#words=NOVEMBER+25%2C+1924
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