St. Paul daily globe., 1885-04-14
SALTWATER NEWS.
The Northwestern Manufacturing and Car
COmpany-Petition For Sale
Argued.
The Matter Taken Under Amusement
by Judge McCluer-Other
News.
North,reste,7. Manufacturing q Car Conn

Northtrester1t Manufacturing d Car COM
pGny.
Before Judge McCluer yesterday morning
the petition of the creditors for the sale Oh
the property of the Northwestern Manu1ac-
turing & Car company was heard. Inc
petition, which was from the new Minnesota
Thresher Manufacturing company, was ar
gued against by number of the creditors,
who were represented by counsel. Among
other LAWYERS who took part in the arguments
we're Senator Spoouer, Hudson; Ciapp, Still
water; Warner, Sanborn, Lightner and Heard
of st. Paul; Judge Shaw and Secomoe OF
MINNEAPOLIS, and Flanders of Milwaukee, all
opposing the sale, or if the sale was ordered,
that an upset price should be fixed, under
which amount it could not be sold. Mr.. ID.
R. Bigelow of ST. Paul represented the Min;
nesota Thresher Manufacturing company,
and had Mr.. A. B. Stickney, one OF its direc-
tors. at his elbow The new company repre-
sents 81. 100000 of the liabilities, and cred
itors holding 81, 900, 900 more it is claimed
have expressed their Ereadiness to give the
same company the right to settle Tor them.
A motion was made by Mr.. Clapp that the
petition be dismissed, as the thresher COM
panv did not file their claim as ordered by
the state laws, neither had they given proof
that the claims they held were bona tide. He
was followed by others on the same side, ask
ing the Judges ruling upon them.
Judge McCluer said the law in the case was
most crude, and dfound only three things pro-
yided for in the law, viz. The sequestration
of an estate and the appointment Of re-
ceiyer: what shall be done when
final Judgment is obtained, and
the parts to be given to the various claim
ants. His opinion was that if the general
interests shall be conserved by the sale it
should be done, but if these interests shall
be both protected by a receiver then he
should remain in charge. The matter was
of importance not only to the stockholders
and the creditors but to the state at large
He wished to hear the matter discussed by
the business men so that he might have a
full understanding of it in all its bearings
He would, therefore, overrule the motion of
Mr.. Clapp to throw out the claim Of the Min
nesota Thresher Manufacturing company.
Judge Shaw, Mr.. Flanders and others
made answers to the petition, some advocat-
ing the retention of Receiver Brown, who
was running the works so successfully,
Others that if it was the order of the court
that the property should BE sold there would
be due time taken, that the property should
be valued by experts, and upon their report
the Judge should place an upset or minimum
price, below which the property could not be
sold, thus guaranteeing to the creditors and
stockholders a certain percentage.
It is understood the Minnesota Thresher
Manufacturing company does not wish an
Immediate sale, but merely wishes to have the
matter put in the way of a settlement, and it
s not likely that the affairs viii be taken out
of the hands of the receiver before the close
of the present season, if even then.
The matter was discussed fully and taken
under consideration by Judge McCluer.