Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1873-11-10
THE TRUSTEES OF THE SPRAGUE
PROPERTY.

The trustees appointed to take charge OF
the Spragde property are men of the bes,
qualifications for the trust. They are practi-
cal men, Of undoubted integrity, whose acts
will be governed by the best motives. Mr.
Lockwood is well known to many of our
Maine people by his connection with the mills
at Lewiston. No better man for the place OF
trustee could have been selected. If the trus-
tees appointed accept, good step will have
been made in putting things on sound basis
again in as prompt and equitable manner as
possible. The Providence correspondent Of
the Tribune says of the late meeting and the
trustees selected The result of the pro-
ceedings has been hailed with great satisfac-
ton in this city it had been feared that thel e
would be dissension among the creditors, but
harmony and united action have prevailed
The composition of the Committee of Five
appeared satisfactory to the meeting, and the
trustees recommended seemed suitable to the
creditors and meet the wishes of the commune
ty. The plan of settlement is generally az
ceptable, as infinitely better than forced
bankruptcy, the possible evils of which strike
the popular attention more forcibly than ever
before. That danger seems now past. 1t is
appointment. Messrs. Lockwood and Night
ingale ask time for deliberation. Mr.. Night
ingale promises final answer to- morrow, and
MIR. Lockwood will reply within day or
two. The men named IS trustees have the
confidence of the community; they are men
ofwealth and position, who have shown much
business talent in long and successful lives.
All of them have high repute for integrity and
Iirm devotion to duty, and are earnest Chris
tian men. Mr.. Waterman has been all his
life engaged in mercantile business in Provi-
dence, and is now largely interested in valua-
BILE real estate. His character is unblcmished
and his culture fine. A. d. Lockwood is well
known throughout New England as success
full manufacturer, Of extensive scientific at
tainments and practical information. For
many years he was connected with large mills
in Maine, which were under the control of
extensive houses in Boston, and he has acted
as counselor to many manufacturing compa
MES in New England. He probably stands
at the head of scientific manufactures in this
part of the country. He is now largely in
terested ia the Quinebaug Company, which
runs extensive cotton mills in Quinebaug
Valley. Conn. Prominent men here and
leading creditors express the hope that Mr..
Lockwood may serve as trustee, saying that
he would have the confidence of the entire
business community. COL Geo. C. Nightin
gale has had large experience in connection
with cotton mills and print works in Rhode
Island and Connecticut The house of Geo.
c. Nightingale & Sons runs four mills, with
nearly 10000 spindles, at Hu,nam, Com.
Col. Nightingale has been very successful in
the accumulation of property. One of his
most valuable characteristics, in the opinion
of people here, is his habitual caution. All
three trustees are leading bank officers, and,
by the ownership of bank stock. indirectly
creditors Of Sprague, but not direct creditors
to any considerable extent Not one of them
has ever been identified in any way with the
Spragne interests. The generally expressed
opinion in the city is that they are admirably
qualified to act as trustees of the great
Sprague property.