Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1885-07-09
THE ORE AND STEEL COMPANy
The Duties of the Receivers in the
Courts.

Nothing was mentioned concerning
the proposed lease of the Vulcan Iron
works i'm the United States circuit court
yesterday, although considerable Ore
and Steel business was transacted. Mr.
Ethan A. Hitchcock, the receiver said
on Monday that although the lease was
almost certain to be made, there was a
bare possibility that the negotiations
might trip and fall. 1t is whispered
that a new process steel is to be turned
out of the converter, if the lease is ef-
fected, aud that in the steel to be man.
ufactured the phosphorus will exceed
the carbon. 1t is known as phosphor
steel and is serviceable for all manu-
featuring purposes.
Last week the attorney for the re-
ceiver applied to the court for the refor-
nation of orders heretofore entered,
making claims allowed on intervening
petitions equitable liens, prior in right
to the mortgages. 1t was then said
that the clerk had, through inadvert-
ence, erred in entering the orders rec
commended by the masters report.
The matter was referred to the master,
who filed his report yesterday. In
this report he finds that the clerk has
made no errors, save an immaterial one
of confounding the words funds" and
earnings" This, the master recon-
mends, should be corrected. All claims
entered as equitable liens were report
ed as equitable liens prior in right to
the mortgage sued on, though not prior
to all the mortgages Oh the property of
the St. Louis Ore and Steel company.
AS to whether they should precede all
the mortgages, that is left to the court
to determine. The masters report was
confirmed.
A number of claims for supplies and
labor furnished to the Ore and Steel
company, which did not amount to
over 500 in any instance, the master
in chancery reported last October in
favor OF allowing without the formali-
ty of intervening petitions. No objec-
ton was taken to this report by any of
the parties and il was confirmed yes
terday.
A receivers petition was filed by
Henry Hitchcock yesterday in which
the receiver asked the court for instruc-
tions in regard To a sale of lands in Iron
county, which was to take place by or
der of the st. Louis circuit court to
partition out the interest held In COM
mon, half and half. by the Ore and
Steel company aud John Epes Cowan.
The land is valuable orly as mining
property, and the receiver Is of the
opinion that it is not very valuable for
even whatever ore it may contain.
Counsel for the receiver had appeared
and opposed the order of sale, and the
instructions of the court were now ask.
ed as to what the receiver should do at
the sale.
Judge Treat was of the opinion that
it was very hard for the court to do the
work of the receiver.
Mr.. Hitchcock represented that the
receiver was i'm doubt-as a business
matter-what course was wisest;wheth-
er to let the land go for what it would
bring or to bid upon it.
nWhy does the receiver ask the court
tn make up his mind?" quered Judge
Treat.
..The receiver wanted general in-
structions.n answered the counsel.
"But the receiver as an officer of this
court ought to suggest to the court
what he thinks advisable"
..Then suggest to the court that
the receiver be authorized to attend
the sale and make a bid upon the prop
aI,et that he put in the application"
.eThen will ask leave to amend the
petition by adding that and will file
it again. said the attorney.
The court then said for the benefit of