The Transfer of the Publishing Interests to Washington
By Arthur G. Daniells
ANOTHER very important step has been taken in the removal of our publishing work from Battle Creek, Mich., to Washington, D. C. As announced in last week’s REVIEW, the court of Michigan has taken the affairs of our old publishing association out of the hands of the board of directors, and placed them in the hands of a receiver. This legal step was necessary in order to transfer the business from the State. The law requires that four months’ notice shall be given for a hearing of the claims of all creditors before the property can be disposed of, and settlement made with any creditor. At the close of this period, a full settlement can be made with all the creditors as soon as the property can be sold. If any surplus is left after the creditors are paid, it will be divided among the shareholders according to the amount of stock they hold. We are grateful to our God for delivering us from the complications that might have obstructed the progress of this business. From the first, we have been determined to take an open, straightforward course in every step required to make the changes that seemed best. We first sought the counsel of the General Conference at the session held in Oakland in 1903. We next obtained an expression of the wishes of the stockholders at a regular annual meeting held in Battle Creek. From that day to the present we have gone forward with the business in perfect harmony with the counsel of the General Conference, the vote of the stockholders, and the legal requirements of the State of Michigan. We propose to continue along this line until the business is entirely finished. We appreciate the friendly co-operation we have received from so many of our people, and from business men of the world with whom we have been brought in contact. Now there are two ways by which our brethren and sisters can help us very much in finishing this task: First, in assigning the stock they still hold; and second, in transferring the notes they hold against the old corporation at Battle Creek to the Review and Herald Association of Washington, D. C. Every share of stock that is now assigned to the Washington association will simplify the situation, assist the new enterprise, and give the one who assigns it a membership in the new association. But all this must be done before Dec. 31, 1904. It should be done without delay by every one who is friendly to our plan. The transfer of notes from the old corporation that has been dissolved, to the new corporation of Washington, D. C., and accepting the notes of the new corporation in their place, will simplify the work of the receiver in winding up the business, and will not imperil the interests of the creditors. We expect to pay each creditor every dollar due him, and we counsel the creditors to take the steps that will aid in carrying out these plans. The officers of the General Conference have been kept well informed regarding the plans and progress of this business, and so far as they understand the situation, heartily approve of the course thus far pursued, and of the suggestions for the future. We sincerely hope that our brethren and sisters will not delay to take any steps possible to aid in the speedy closing up of this business. It should be understood that as long as it drags along, it causes more or less loss. How grateful we should all be for the excellent progress that has been made in one short year, and for the great economy that has attended the management thus far. Under ordinary circumstances we would have had a very different record. Let all now take prompt steps to close up these affairs during the next few months. Write to either the Review and Herald of Battle Creek, Mich., or the Review and Herald Publishing Association of 222 North Capitol St., Washington, D. C., for any information you may desire. A. G. DANIELLS.