Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1882-05-08
THE sPRAaUE ESTATE.
a sale Which Was Not . Sale.-post-
ponement until Nay 18th.


pas. IL O'Clock Thursday, saws the
providence Journal, the stairway leading n
Lyceum Hall, where the auction sale of tho
oPraRue estates was advertised to no baId
was lined with people. The crowd rece;vsj
..esh accessions constantly, and in a sbor,
time the line of humanity extended from tho
uoor OF the hall down the stairs and ont N ,ho
sioewaik The doors had not been throvn
open' ont It was understood that the Com
miuee OF Creditors and Mr.. Chafee ani his
1ounsei were inside holding consultation.
a. zen minutes of twelve the throng was adj
United and speedily filled the hall to its nj
:nost capacity. Most of the prominent cred
ent. PeS
AT IL O'Clock Mr.. Chafee, who sat with hi.
counsel near the Lyceum President's deal
announced that the time had arrived at " hich
ne was authorized to proceed with the sxle
Mr.. William b. Beach then gave notice
that writ had been issued out of the Su.
preme Court attaching certain real estate in
the town OF Johnston for 500, 600, UPON a suit
brought by Horatio n. Waterman. The
property attached included the Morgan mill
estate, embracing III acres of land. with the
improvements thereon and the water right,
pertaining thereto: the Simmons farm adj
Joining the Morgan estate, comprising about
zoo acres of land, and the improvements
thereon The Carpenter farm, so called. CON
tanning 90 acres of land and the improvements
thereon. The attachment also covered be-
sides the real estate all the capital stock of
the U. 5. Flax Co. standing in the name of
the Spragues
Mr.. Thomas A. Jenckes presented a pro-
test against the sale, signed by himself and
Mr.. Charler A. Wilson, as counsel, in behalf
OF Alfred X. Fiske. The protestants repre-
sent that there is bill in equity in the name
OF said tiske pending in the Circuit Court to
nave the trust deeds and assignment declared
illegal and void, and that they will hold the
estate responsible for any loss damage or in
jury that may occur to their client by reason
of the sale.
MIR. Pa,ten said that he protested against
the sale of the property on behalf of his eli
ents, the A. W. Sprague Manufacturing
Company, and the Spragues individually, on
the ground that the notes issued under the
trust deed have been unlawfully issued for
large amount; that for the balance of that
amount, the trustee has sufficient to pay all
the legitimate expenses and Indebtedness
of the Spragues. He also protested on behalf
OF the heirs of Byron Sprague. large por-
ton of the estate belonged to the estate of the
late Byron Sprague, and it had never been
settled. Also he protested in behalf of Fanny
and Mary Sprague against the sale of the
capital stock Of the Quidneck Co., the legal
title to which was vested in those ladies', and
which could not be sold under this deed.
Mr.. William II. Hall, the auctioneer, then
went into the Presidents desk and read the
decree of the Supreme Court ordering the
sale, and also the terms of the sale.
Here is this property, said Mr.. Hall, offer
ed at an unalterable upset price of $780,
600. Now, will any gentleman start the bid
ding at those figures? A nod or a wink. and
will go on.
There was brief silence; and then Mr..
Hall began to talk up the property in auction
eer style, representing its extent and its value,
millions by its purchase.
Still there was no bid.
Then there was longer silence, and some
but not much.
At the end of five minutes Mr.. Hall again
raised his voice. Where are these parties, he
asked, that have been contentious in the
Supreme Court of this State over this prop
erty, quarrelling about who is to have IL?
Laughter. Where are they? More laugh
ter. If they are here now, let them make it
manifest now. Then the auctioneer again
talked up the property, and prOphesied
boom in real estate which would increase its
value enormously.
After brief consultation with Mr.. Chafee,
Mr.. Hall announced that his orders were to
wait five minutes more for bid. If he re-
ceived none at the end of that period he
should probably adjourn the sale.
Still there was no bid.
Mr.. Z. w. Hopkins understand you have
got bid for the upset amount from Wilbour.
Jackson & Co.
Mr. HALL have not seen any signs of it
since have been here, am very sorry to
say. If YOU have, wish you would indicate
from what direction.
Mr.. Hopkins-Only what l saw in the
newspapers. But believe it was in court
I should like to have them come up or shut
up GApplause and laughter.l
Mr.. Hall-To shut up, gentlemen, indicates
to remain quiet and they certainly are to-day,
as far as manifesting any desire to bid on this
property is concerned.
There was another period of silence, at the
end of which there was a call for "time. AT
the expiration of the five minutes Mr.. Hall
called for bids once more and talked about
the property.
Mr.. Chafee said soto roee to the auction
eer: Don't waste any more time.
Mr.. @. s. Spencer said he desired to say
lew WOTuSs
A voice-Is this prayer meeting or an
auction?
Mr.. Spencer said it was intended for an
auction. but he had few remarks to make
I think, said he, that the counsel for Mr..
Chafee should make some explanation. Mr..
Hart stated publicly in court that Wilbour,
Jackson & Co. would make this offer OF ",
$50. 900 for the property. If l am wrong, he
will tell me so. think this is an insult to
the creditors of this concern. Here was Mr..
Lapham ready to take the property at TINS
figure. We have lost $50, 900 in not making
that sale to Mr.. Lapham. The interest on
the money and other expenses gong out OF
the State is $1,000 each working day MADE
nm nv mind when that statement was made
bv counsel that it was all humbug, and to-day
I am confirmed in my belief. Applause IL
is big humbug. l hope the creditors VIII
take this matter in hand. This property must
be sold so that the Spragues will have some
interest in it. GApplause.] That is where the
people are. You cannot get people 10 oid
outside the Sprague interest. That Is ttue
and everybody knows it. l got up to say ,hat
7 want TO hear from Mr. Hart. He made
s,stement in court and this sale was post
noped for seven weeks on that statement tnat
Wilbour, jackson & Co. would make tn''
offer of the upset price
The auctioneer said he had had some eApe
rience with bids. and had often had men say