The directors of the Milda Theater Corporation held a conference last Tuesday, July 23, at which the following officers were elected: Walter Beinar, president; Julius Nutowt, first vice-president; John Gaubas, second vice-president; J. J. Hertmanowicz [Hertmanavicius], secretary; and Anthony Ambrose, treasurer.

All of the officers agreed to serve during the following year without pay. The office of the Corporation, at 3133 South Emerald Avenue, was donated rent-free for the following year by the secretary, J. J. Hertmanowicz.

A committee has drawn up the bylaws by which the Corporation will operate, and they have been approved by the officers. The Milda Theater Corporation is now fully organized. The commissioners have already sent a report to the Secretary of State of Illinois and in a few days the Milda Theater will be released from the trustee's hands.

In taking over their duties, the officers of the Milda Theater Corporation examined the documents concerning the state of the A. Olszewskis trust. [Editor's note: A. Olszewskis had a bank, a theater, a clothing business, and several other concerns. When he became bankrupt, apparently all of his businesses and properties were put into the hands of the Chicago Title and Trust Company and administered as the A. Olszewskis trust.] It was learned that the Chicago Title and Trust Company, as receiver and trustee, when it took the estate of A. Olszewskis under its supervision, had granted a first mortgage for $90,000.00 to pay out the first part of the deposits, and issued trust certificates of a total value of $297,232.16 to creditors for the second half of the deposits, making a total debt of $387,232.16.

By taking two buildings, the Milda Corporation and the Mirga Corporation reduced the above-mentioned debt thus: $58,500.00 on the first mortgage and $162,550.00 on the trust certificates. Therefore a debt of $1,500.00 on the first mortgage and $134,682.16 on the trust certificates--a total of 166,132.16-- 3is left on the remaining real property. This property consists of eight buildings, including residences, Kulis' Pharmacy building, the small theater, the J. Oloweckis-Store building, the Eagle-Music-House building, the frame building at 3135 South Halsted Street, and the brick building at 3131 Forest Avenue, and an empty lot at 3131 South Halsted Street.

That, then, is the state of affairs which confronts the creditors of the Corporations. Whoever expects to receive all of his money from the trustee should remember that, during the liquidation of John Tananevicius' estate, eight buildings, including his bank building, were sold for $36,000. If the above-mentioned buildings of the Olszewskis trust should be sold in a similar manner, the creditors who hold trust certificates would be fortunate if they received five cents on the dollar.

The officers of the Milda Theater Corporation announce this to all the creditors so that the latter will understand the importance and benefits of the 4Corporations which have been created. All kinds of rumors were circulated about the Corporations when they were being organized. These rumors were lies. If the creditors had not listened to all kinds of liars but had immediately taken the buildings from the trustee after the payment of the first part of the deposits, by now they would have received several thousand dollars in rents, and their property would not have been in danger of liquidation. By heeding untruthful rumors, the creditors have lost rents they would have received during a period of a year and a half. That was the kind of benefit they received by listening to circulators of rumor, who strove to wreck the organizational work but did not accomplish any constructive work. They were not able to injure the organizational work of the Corporations, or to create their own corporations. They were able only to do harm to those creditors who believed and still do believe those untruthful rumors and "explanations."

All of these statements are supported by documents in the Recorder's office, 5which can be seen by every creditor, and by Trust Agreement Number 6940.

At this same time it is being announced to all of the creditors that, regardless of the fact that the total sum of trust certificates collected for regaining the Milda Theater has not reached the required $140,000, the building will be taken from the trustee as soon as the commissioners' report is returned from Springfield with a Certificate of Complete Organization. All of those who have purchased shares of our Corporation will receive dividends on their investment at the end of the year and will be able to sell their shares for a suitable amount. The part of the sum of $140,000 which is not paid to the trustee in trust certificates will remain under the supervision of the trustee, the same as the remaining buildings. The trustee will receive benefits from that sum, just as it does in the cases where it receives all of the rents of the buildings under its supervision. Therefore, it is not important to the members of the Corporation whether more of the creditors take 6advantage of the benefits of the Corporation, for every member will receive dividends at the end of the year. It is not important to the officers, either, whether more creditors join the Corporation.

Having considered all of the above-mentioned circumstances; the officers of the Milda Theater Corporation feel that they are in a position to fulfill their duties with great benefit to the members of the Corporation. Many of the creditors of the A. Olszewskis trust have delayed joining the Corporation for the reason that they did not feel certain that the work would be completed or for other blameless reasons. The officers have decided to give them another opportunity to purchase Milda Theater Corporation shares for their trust certificates. This offer will last until the required sum of $140,000 in certificates is in the Corporation's hands. Then all of the connections with the trustee will be severed.

From this day until August 15, the shares of the Milda Theater Corporation 7will be sold for the certificates of the A. Olszewskis trust at the following rate: a ten-dollar trust certificate and fifty cents in cash for each share. After August 15, and until the sum of $140,000 is reached, each share of the Milda Corporation will cost a ten-dollar trust certificate and one dollar in cash.

Notice: The Milda Theater Corporation reserves the right to reject the applications for shares sent in by people whom the Corporation considers undesirable for membership in the organization. The trust certificates will be accepted as payment for shares only until the sum of $140,000 has been raised in trust certificates. After that the shares of the Milda Theater Corporation will be sold only for cash, at ten dollars or more a share, according to the demands of the Corporation's business.

Those wishing to buy shares of the Milda Theater Corporation for A. Olszewskis trust certificates should see the secretary of the Corporation, at the 8Corporation's office, $133 South Emerald Avenue, Chicago, Illinois. Creditors living in more distant localities can send their trust certificates properly endorsed through the mail to the same address. Receipts will be mailed to stock purchasers.

The shares of the Corporation will be issued to all the paid-up members between August 15 and August 30, 1913. Those who have not yet made their initial payments are urged to do so as soon as it is convenient for them, so that everybody can get his shares and the matter will be finished. Those who do not complete their payments by the end of the year will not receive their dividends for the first year, and they will not receive their shares until one year after the other members have received their first dividend.

The secretary of the Corporation will provide more detailed information to those who want it.

After the Milda Theater has been taken back from the trustee, the shares distributed to all stockholders, and all the ordinary matters of the Corporation taken care of, the officers of the Corporation will begin to concern themselves with cultural tasks, in order to better the reputation of the Lithuanian people.

The interests which the Milda Theater Corporation plans to promote among the Lithuanians will be connected with art. There is a plan to create a singing and dramatic organization which will have as its aim the development of Lithuanian professional talent for the stage. The Lithuanians lack dramatic, musical, and other artists, who could uplift the life of our people. Our national group has begun to live, but most of its talents have been left untouched and we are lagging far behind other cultured nationalities. With the help of the Lithuanian public the Hilda theater Corporation will strive to fill all these vacuums in our cultural development. It is certain that its efforts will bring glory and benefit to Lithuanians.

It is true that the goals the Milda Theater Corporation sets for itself will be difficult to attain and we shall have to work hard through many years in order to develop luminaries in the fields of the arts, who can raise the Lithuanian nationality in the opinion of the world and show the world that the Lithuanians are equal to the most cultured nationalities in talent and accomplishments. However, no one could truly say that we lack innate talents. Those talents must be developed until they can gain recognition of their worth on the stage. That developement must be supervised systematically, through special schools, such as those which provide training for the professions of medicine, law, and engineering, etc. We shall not attain our ends by easy or cheap methods.

From time to time the officers of the Milda Theater Corporation will announce the Corporations programs, plans, and activities to the public through the newspapers. The public can be certain that the officers will not lack devotion to attain the most cultural goals nor the will to serve for the benefit 11of the Corporation's stockholders and of the nation. Let this announcement merely reveal what ends are to be attained.

The officers of the Milda Theater Corporation fully realize that they are at the head of the largest Lithuanian concern in the world and that they have the confidence of the public. These officers realize that the largest common property of the Lithuanians has been put under their supervision. This property is dedicated to art. The officers will strive to have the property used and the cultural tasks outlined in the Corporation's charter carried out in such a way that they will create satisfaction among the artists themselves and the public, and bring benefit and honor to both the artists and the public.

In setting such lofty and not easily accomplished ends the officers of the Milda Theater Corporation rely not entirely on their own power, but also on the good will, sympathy, and co-operation of our people--especially of those 12individuals who realize the need for the accomplishment of such ends. Therefore they appeal to the public, asking it to stretch out a hand and welcome them with friendliness.

We feel sure that this first appeal will be accepted in the same spirit with which it is made, and we look to the future with confidence. We expect the Milda Theater Corporation to became be loved and respected by all Lithuanians.

May the Lithuanian nationality flourish! bay all the cultural projects of the Lithuanians be successful!

The officers of the Milda Theater Corporation are: Walter Beinar, President; Julius Nutowt, first vice-president; John Gaubas, second vice-president; J.J. Hertmanowicz [Hertmanavicius], secretary; Anton Ambrose, treasurer.

The directors are: Adam Tubis, Ignatius Kukutis, Frank Eilvitis, Michael Raczkus, Ciprijonas Baltrunas, Anthony Tumaviche, Albert Jokubauskis, Thomas Abromaviche, John Krumin, Stanley Petreikis.