Publication: The Kentucky Post
Covington, KY, United States
Of Rude’s Property to J. Weller Company
IS SOUGHT TO BE SET ASIDE BY CREDITORS.
Petitioner Wants the Deed to Operate as an Assignment.
The creditors of James M. Rude, manufacturer of tin cans, at Second and Madison Avenue, Covington, whose business was attached Friday to satisfy a number of claims, are not satisfied with the transfer of property made Thursday night, whereby Covington real estate to the value of $6,000 was transferred to the J. Weller Company.
The Licking Rolling-mill Company has filed suit in the Kenton Circuit Court to set aside the deed of transfer. The plaintiff also asks that it be declared a deed of assignment for the benefit of all the creditors.
Rude’s financial embarrassment came as a surprise to his friends, as it was thought he was in fairly good shape. Last week new machinery to the value of $7000 was placed in his plant, which is one of the most complete in this vicinity for the use intended.
May Settle With All.
Attorney Galvin said Saturday that James M. Rude was now in Chicago, and he received a dispatch from him, to the effect that a settlement would probably be made with all creditors Monday. In that event the factory will start up again, and nearly 200 men will be saved from being out of employment.