Morning journal and courier., 1886-06-24
WILL RESUME RUsrNEss.

The R. l.. Spencer Company Property
 At WalI1ngford Sold At Auction Yes-
 terday For About $2O,OOO-A Synd1-
 cate With MT. Spencer Nm Charge
 Will Resume The Business-Mr.
 Hyde of New York Buys The Equity
 In The Big Shop-The Remarkable
 Dispatch Exercised In Bringing The
 Affair To Settlement.
 WALLNaFoRD, June 23.-Hon. N. D.. Sperry of New Haven, receiver, sold at auc- ton this morning the business of the defunct R. L. Spencer company of Wallingford. The terms of the sale were 50 per cent. cash down and the balance within the next ten days. The sale commenced at ii a. m., and the auctioneering was done by MT. B. O. Beecher of New Haven. It was announced that the property would be sold in separate lots with the right reserved to sell the whole combined. The sub divisions were the Wal lingford property, that at Centerbrook, that at Ivoryton and the real estate. Over two hundred gentlemen were present at the sale, representing all parties of the country and including many interested in busin ess con- cerns or invest ments similar to the Spencer. The amount of the inventory as returned by the appraisers was, without the book ac- count, S15 900, and the sale realized about $20, 900. The orders for goods or publica- tions were not cash asset, so to speak, be- ing only available on the completion of the orders or the contracts. These orders and the money accompanying orders were only disposed of on condition of the fulfllment by the purchaser of the contract each order implied, the purchaser to file an accepted bond with acceptable surety for the perform ance of the obligations involved. These orders represented $9,000 in either cash, drafts, money orders, etc. All of the above specified lots were bought by MT. H. D. Watson, of Greenfield, Mass. who was formerly publisher of the Farm and Household. It is supposed on good authority that he bought the property in the interest of a syndicate which will continue the business as before at the several places,
 Wallingford, Ivoryton and Centerbrook, with MT. Spencer in the syndicate as man ager probably. The property reserved from the above was the property of J. C.. Hyde of New York, consisting of machinery, lithegraphic apparatus, etc., and other prop erty belonging to photographic firm in New York city, all of which is subject to the further order of the court. The equity in Wallingford real estate involved, consisting of the factory and lands, which are encountered to the amount of $6O,OOO by mortgages, liens, etc., was sold to Mir. Hyde, of New York, fer $1. The factories in Centerbrook
 
 concern. After the purchase of the separate lots of property by Mr. Watson the property combined was offered at auction, but no bid being received amount ing ssto as much MT. Wat son had offered for the same, it was knocked down to him. The promptness and dispatch exercised by the receiver in the case calls out high commendation on all sides. Every thing depended upon the rapid disposal of intervening obstacles and the bringing of the property into the market at an early date, as in business like the Spencer concern if there had been long delay the value of the business and the assets would have ly important that matters should be brought to such a state that the existing orders could be filled soon, and, in short, it was highly important for the in terests of all concerned that there should be as little interruption of the business as pos sible. That MT. Sperry executed his task with marvellous dispatch is conceded by all, especially when it is considered that the mat ters had to go through various legal pro- cesses. Comprehending the situation at a glance, the receiver pushed matters with un- ceasing vigilance and rare executive ability. The creditors interested were surprised at the very expeditions reaching of the climax in the case. The receiver took hold May 18th last and June 23d brought the settlement, and the sale brought over $3, 800 net more than the appraisal
 Claimants have now four months allowed them by the courts in which to present their claims against the estate. One of the com missioners will be appointed to adjudge as to what claims are proper and can be allowed and what refused, and will present the claims allowed to the court for it's approval. There are look accounts of $3, 800 which are report ed as doubtful. These will be reserved as far as possible. It is understood that beside MT. Watson, who bid off the property, MT. Cur don W. Hull of Wallingford, the New Haven Paper Co. and several others whose names are not generally known are the purchasers and that Messrs. Spencer 6 Rose will con tinue to run the business and will resume it right away.
 CONFIRMING THE DEGREES. MT E. P. Bacon is Initiated into Roger
 Sherman Lodge.
 E. P. Bacon, superintendent of the New England Telephone company, was initiated into Roger Sherman lodge, No. 323, Knights of Honor, last night. The three degrees were conferred on Brother Bacon and big celebration was held in the Knights hall in the Tyler building in honor of the occasion. The degree staff of the McDonough lodge of composed of Colonel Joseph T. Elliott, Superintendent Bond of the Middle town Industrial school, Chief Chapin of the police department and others were present Past Supreme Dictator of the United States, Colonel Frank D. SIoat, and the members of the Grand lodge Of Connecticut were pres snt. After the degrees had been conferred the Knights adjourned to the banquet hall and a bountiful spread was partaken of.
 
 A BISHOP STREET ELOPEMENT. MT. Huffman Searching for his Wife
 The Runaway Couple Probably i'm
 New YOrk-A BOarder EIOPes With
 His LandIady.
 Tuesday night a gentleman who gave his name as Huffman and his residence as B Bishop street called at the police office and aid from the officer in charge to ,elp him find his wife who, had eloped that Afternoon with a man who had been his ,oarder for some time. The required aid vas given and the man himself went to the Steamboat dock to watch for the elopers. When the boat was reached no wife was ound. MT. Huffman is an insurance agent nd is employed by the Metropolitan Insur- nee company, which company has an office yer B. Rogowski's store on Chapel street. Ir. Huffman and wife have resided at 53 Bishop street for the last two months. One oarder named Charles Underwood came with Mr. and Mrs. Huffman when they noved to Bishop street from Boston, Mass. Underwood is an insurance agent also and vas employed by the Mutual Aid company n Church street.
 Mir. Huffman came home from hard days york at collecting on Tuesday and his wife nveigled him into going to Bunnell's Mu- cum to spend the evening and she told him hat MT. Underwood would care for her. dr. Huffman went to BunnelPs. He re- urned home about Il o'clock and found his lome desolate, his two little children, aged our and seven years, motherless and cry ng. MT. Huffman made ina uiries among he neighbors and then found that Underwood nd his wife had gone off together. He forced imself into the belief, though hard one, hat his wife had deserted him and came own town to the police office to invoke the l i'd of the officers of the law in the l earch of the runaway couple with what sue- ess has already been stated. All day yes- ardav MT HuIIman had hea0 aendino ont