Crystal Glass Co. to be placed into hands of receiver

GLASS COMPANY TO

SEEK RECONSTRUCTION

New Westminster, May 6. -- After many meetings and much waiting on behalf of the employees who were brought here under contract, it was decided at a meeting of the shareholders of the Crystal Glass factory held in Vancouver yesterday, to place the concerns of the company in the hands of a receiver.

The plant of the glass company is worth $75,000 whilst the liabilities amount to nearly $50,000, Messrs. Gilley Bros. and Evans, Coleman & Evans being the principle creditors. As it is impossible that in the event of a sale of the plant would realize anything like its estimated value, a meeting of the shareholders will be held at an early date to endeavor, if possible, to reorganize the company and arrange to take over the business from the creditors. If this arrangement can be carried through additional capital will be introduced and the concern will then be placed on a more satisfactory financial basis, the lack of funds being the only preventative to the concern having been a big success previously.