The New York herald., 1879-02-15
SOLD AT A SACRIFICE.

PBOPEhIx BALD ~ BE WOhIh pCOO,OOV Dis
POSED OF FOR $325-A "REMINISCENCES OF
THE FAILURE OF THE INTERNATIONAL LUM-
BER COMPANY.
sale in bankruptcy by order Of Alfred Wilkinson.
trustee, took place yesterday at No. Ill Broadway,
that is of more than usual interest to the lumber
trade of the country. recalling does the failure
in 1873 Of the heaviest lumber rm in the country,
doing q business of about six million dollars per
year. 1t in 1868 that the International Lumber
Company, composed Of Eli C. Clark and Samuel
W. Barnard. Of this city; Z. Clinton Clark
and Douglas L. White, of Albany. and
Assemblyman A. s. Page, Of Oswego, was
established. with timber lands and mills at Belle
vile. Star Island, Byng Inlet and other places in
Canada. and stock yards in Albany and New York.
The company owned many barges. tugs and canal
boats for the transaction of its vast business In
1871 the Mcssrs Clark sold their respective in
terests to the remaining partners, starting separate
business. while the remaining partners associating
with them Mr. Anson q. Phelps Dodge son OF Will
lam f. Dodge). r. W. Adams Co.. Orson Richards
and number of other large Dealers formed a COM
bination to control the lumber trade. In attempt
ing this they were obliged to indorse heavily
for each other resulting in May, 1S73 in of the
largest lumber failures known. amounting to
nfore than $9OO0.0 900 and involving some ten or
twelve large lumber dealers until then in good stand
ing and repue. Upon the faith OF q circular signed
by William 4. Dodge and Others the greater part Of
TO six. twelve and eighteen months. William f.
Dodge had advanced about $500 0OO and taken mort
gage on some OF the mills as security.
SALE
On the so oundng of the gong at noon there was n
rush TO the stand of Auctoneers Wnans a Davies
Prominent among those present were William f.
Dodge, Trustee Wilkinson and many well known
lumbermen One of the auctionecrs read the descrp-
ton OF the property and the terms OF sale. which
provided that ten per cent should be paid at once
and the balance before three o'clock in the after
noon. The property, which the auctionecr an
IN he Ia dose had fol.
DESCRIPTION OF THE PROPERTY.
s5d; n. vie % sa%.. Barnard Arr !. secure the sum
S stsrsed the & the Of ns s7
spectve counties IN which the property therein described
= q Ssrssss., ST. fEs.sIIn ssa.y ESs.
m ps ssg @ II R ~ !" c %
Morigarcs page ys+; Hamilton county in Lber
Of Mortgages. IN page $40.
& Ii. I'd II os''S %sa:SS and sd sD4s s
Peters rus,ee. Of samuel Bar.ara TO secure te
si day May 1879 .ad recorded in the Offices q
property ss.erSsd in said @sr.saee .,aa.sd to
say. in Washington county, L,ocr a OF Mortgages,
in ESSEX county ISo Is MoSsSses page pug:
:ssSa sSan sSanas @ Of Mortgages sl
Also an instrument in writing and under seal. bearing
0rson Richards and Julia Richards. wife Alfred
ssrn"rd and pSrporins 70 grant 70 The parties of the
second hs ish. % tho so.ses.Sn Of tho properly
Office Clerk or Saratoga Ia Lbcr 1874 Of
Deeds g3 of Mortgages and duly recorded the
Offices Of the clerks of the counties In which tho
property therein described Is situated.
seal made by the said Orson Richards Julia Ann Rich
ards his wife, and William H. Boomingdalc TO the said
trustees bearing with the
aud covenants relating TO the mortgages
said.
Also certain other instrument in writing and under
seal bearing with said last
aud the parties. having refer
ence the settlement OF accounts between the parties
thcrcto.
Also a certain othcr instrument in writing and under
even said last named instrument In writing
being general with reference TO the
control and preservation OF the property
and In the mortgages aforesaid described and
fcrrcd to-
Also q certain other instrument in writing and under
seal purporng to be in the nature Of lease made the
NJ day Of May. 1919 between Alfred Wilkinson and
George c. Peters trustees of Samuel w. Barnard and
William H. Boomingdae and having relation TO the same
property.
And all the right title and interest Of nature
Of the trustee aforesaid Of In and
lands mill properties logs timber lumber numbering
privileges and other real and personal property referred to
or described or embraced In said instruments
signed aforesaid in and 10 the covenants
nents and obligations In the several Instruments
tned and be performed by of tue parties thereto
other than the said trustees
And also Of in and to all due and payable, or 70
due aud payable to the Undersigned by Of
any covenant or agreement therein contained.
And also OF, In and to all other obligations Sc
cured thereby and aud all rights OF action IN favor ot
against person or persons Wy reason OF
his interests aforesaid.
THE BIDDING
| AT the conclusion Of the reading the auctioneer