Greensboro, May 10—Order by Judge Webb appointing a receiver for the Elmira Cotton Mills, Burlington, pending adjudication in bankruptcy, was received here today at the office of the clerk of the United States court.
This order was made upon voluntary petition and such petition was authorized at a meeting of the directors of the mills company. It is stated in the petition also filed here today that the mills owe $200,000 and are unable to pay it, that the property is worth $600,000 and a receiver was wanted to conserve the assets, not possible if the property should be thrown on the market now.
From page 2 of The Concord Daily Tribune, Tuesday, May 11, 1926
newspapers.digitalnc.org/lccn/sn92073201/1926-05-11/ed-1/seq-2/
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