Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-01-04
HARwOOD's STOCK.
Incidents tin he First Days Sale Under
the Sheriff y Hammer.

Incidents tin he First Days Sale Under
the Sheriff y Hammer.
The sheriff sale of Harwood's stock which
has been the chief topic of conversation in
this city for the past month, came off yester
day The sale was announced to come off at
10 o'clock, but as early as $50 O'Clock the fun
commenced, At that hour number Of the
Interested creditors and delegation
of LAWYERS put in an APP
rcarancc at the court house
TO listen to the ruling of the court on an APP
rlcation made by Morrison Il Fitch, on be
half of certain creditors, to restrain the sheriff
from selling he stock in a bulk. The sheriff,
through his attorney, j. NJ. Shaw, endeayored,
in long argument, to show the court that,
after consulting the attorneys OF the creditors
and also number of the parties who expected
to buy more or less of the stock, that larger
amount could be realized from the sale
of the stock in bulk than by parcel. His at
toIney stated that minimum of per cent.
would be realized by selling in bulk, while
by selling at retail or parcel Il portion OF the
goods would have to be sacrificed, and
would not, in his judgment, bring anything
near the above mentioned amount However,
the sheriff did not intend to take upon him.
self any responsibility in the mat
ter, and desired simply to sell
so as to realize the largest amount. lie would
under the present circumstances, if the court
felt competent to direct the manner in which
the sale should be made, proceed under such
direction. 1t would be proper to state here
that the court was alive to the delicate stu
alton in which it was placed. While suggest
ing great number of ways
in which the sale could be made so as to
be satisfactory to all parties,
concerned, no particular directions were given.
The sheriff, through his attorney, desired to
know the minimum price at which the credit
ors would be satisfied to see the stock start
cd at
Attorney Fitch, who represented the last of
the Judgment creditors on the list, stated that
hr would not consent to the sale in bulk unless
the minimum price of seventy cents was real
lied, which figure would be just large enough
TO reach his clients.
After long discussion, the sheriff, through
his attorney, proposed that if the restraint
was dismissed he would go on with the sale,
either In bulk or parcel, as the creditors might
agree. Upon the attorney of the Judgment
creditors agreeing to this proposition, the re-
etraint was dismissed.
Shortly after 10 O'Clock Sheriff Thompson ar
rived mt the store to conduct the sale or post
ponc it as the creditors or buyers might'agrec.
The sheriff stated the stock, based upon the
inventory of July / 1880, was valued at $780,
GOO.
motion was made that the sale be ad-
iourned until O'Clock and the creditors adj
iuurned to the Nicollet mouse
At the creditors meeting, the object was
stated to affect an agreement or basis upon
which the sale was TO be made. After the
hour and half of talk, there being no signs
of any agreement, the meeting adjourned.
The sale commenced at o'clock with
slim attendance the goods being sold in small
parcels.
The buyers were present in large numbers
and the bidding was very spirited. The buyers
were principally home merchants and the
goods, cotton dress goods and domestcs
brought good prices.