The times. [volume] (Richmond, Va.) 1890-1903, 1895-12-15


in and 10 the shares or interests of the
Richmond and ST. Paul Land and In
proycment Association, of which Mcssrs.
James IA. Dsoley. Joseph Bryan. and H..
~. Mayo are trustees.
Seventh. Two thousand, one hundred
and thirty-hve shares OF stock Of the
Plantersk National Bank. Of Richmond.
Eighth. An interest whatever in the
Richmond Christian Advocate, or IN the
partnership between James b.. Pace and
j. J. Lanerty in carrying on the above
newspaper
Ninth. All right. title and interest in
and to the following schooners or YES
sells. The james B. Pace" 9-32 parts
the William H. Allison" 1-S2 part the
Warner Moore" 1-S2 part; the Dora
Allison 2-32 parts the Mamie Saun-
dcrs." 1912 parts.
Tenth. All the right. tite and inter-
est in and TO the stock of the follow
ing companies: Virginia and Alabama
Coal Company. 2O5s shares, Columbian
Building and Loan Association 20 shares:
Kentucky Heating and Lghting-Gas
Company. 100 shares: Old Dominion Min
ing Company. -- snares-the certificates
for the last-namcd stock have not been
issued. but the right is transferred TO
the trustees hereunder TO receive said
certificates to the same extent as the
said James B. Pace: Virginia and North
Carolina Wheel Company. ~ shares:
Richmond Chamber OF Commerce, 10
shares Virginia Trust Company. 81
shares. Gray Electric Company. lm
shares. Gray National Telautograph.
Company, 200 shares: Bohls Cigarette
Machine Company, shares: Clifton
Forge water Company. "a shares; Nir-
ginia Mari and Phosphate Company. ---.
shares-the certificates for this stock
hayc not been issued. but the trustees
hereunder shall have the right TO call for
and receive the same; the -. +. johnson
Publishing Company, 10 shares; Selma
Land. Improvement, and Furnace Com
pany 10 shares. Chesapeake Dry-DOck
and Construction Company. 60 shares
Richmond and West Point Land. Naviga-
;ion. and Improvement Company 40
shares. any other shares Of stock belong
ing TO the said Pace. whether above
enumerated or not. II Is, however, eX-
prcssly declared that the trustees here
under shall not Doe bound 10 accept the
assignment and transfer OF any OF the
said stock which may not be fully ana
entirely paid up. But they shall have the
option. if they desire to do so. of paying
up i'm fun any of the stocks hereby con-
Vcyed, If they deem ID beneficial and
advantageous 10 the trust so TO do.
Eleventh. Also the following bonds:
$4,000 face value. Chesapeake Dry-Dock
and Construction Company. all the in
terost of the said James B. Pace in
$4,000 of the frst-mortgage bonds Of
the Seattle. Lake Shore, and Eastern
Railway Company ana the trust certih-
Gates which have been issued for said
bonds: notes of the North birmingham
Land Co. 5000 20. All interest of the
said James =. Pace I'm the West Superior
Land Syndicate. and all other stocks and
bonds. and all chooses IN action belonging
TO the said James B. Pace, whether
enumerated above or not; and all stock
and cattle Of said James i. Pace, either
in or out of Virginia.
The deed, of course, vests i'm the trus-
tees competent authority 10 make such
disposition of the property assigned as
they may deem proper, and also 10
realize by sale. collection, or other means
the proceeds OF the sale of assets with
such speed as may be advantageous ana
practicable TO the creditors
The trustees are further given the
power 10 employ all necessary agents.
employees. and counsels as they shall
deem proper for the execution Of the
trust. and TO fix a reasonable compensa-
tion for them. The deed also prescribes
that as some OF the subjects are pledged
as collateral for the Indebtedness Of Mr..
Pace, or are otherwise subject TO some
prior lien. and as these subjects IN some
or many cases are worth more than
the amount Of the prior lien. the trustees
are given power 10 prevent sacrifice of
the property. and when they shall, IA
their judgment deem II TO be for the
manifest advantage of The creditors mere
by secured so TO do. 10 use the trust
J. ....f
as shall be- iudicious. i'm preventing such
sacrifice by the redemption Of such prior
liens. or otherwise as may be. for the
manifest advantage Of the trust subject. !
Dealing with the matter of the disDO-
sition of the proceeds Of the sale and
NE classification Of the creditors, the deed
says.
CLASSIFICATION OF CREDITORS.
The said trustees shall apply the trust /
fund hereby conveyed, and its proceeds, !
first 10 the costs OF preparing and record /
ng this deed. the COSTS charges, and eX- /
oonses of executing and administering /
his trust. of selling and taking care OF /
he property hereby conveyed. including |
all taxes and assessments and insurance 1
thereon. the proper compensation of the /
said trustees and of all agents and cOun- |
iel employed or engaged by them. in ad-
this trust, and they shall then |
ipply the trust fund hereby conveyed. /
ind ahe proceeds thereof 10 the follow /
ng described debts of James B. Pace, /
which shall be paid in the order of priori-
y and classes hereafter mentioned, and
n so applying said trust funds they shall
iay eacn class OF creditors I'm fun before
layng 10 creditors in subsequcA class
md If the funds applicable TO The pay
nent of the creditors In any class are
iot sufficient 10 PAY debts OF said credi-
ors IN fun. then the debts IN that class
hall be paid pro rata. The order of pri-
rity in which the creditors Of said Pace
hall be paid out OF the trust property
ereby conveyed is and shall be as fol-
ows-namely.
First class: In the first class Of debts
hail be paid the following. Mrs j. r.
Webb of Washington. city, ID. c.. s., ,226.10.
wages TO the servants Of said James b.
'ace. employed at his residence. Rich
lond, Va. and all wages due to his man
ger and employees on the farm I'm Albe-
larle county, known as "Smnyside";
ny salary due to 5. c. Weisiger, book
eeper of said Pace
MANY NOTES ENDORsEDt
Second class-ln the second class shall
g placed the following debts-that is 10
ay, the said trustees, after paying the
ebts of the first class. shall pay in fun.
the funds be sufficient. and ifrnot.' then
TO rata and pari passu. the following
Otes. all of which are endorsed by the
aid James B. Pace, that Is 10 say: Note
ated August ;, 1898, for $1,000 drawn by
b. Pace. Jr.. note dated November
B. 1893, Tor $500. drawn by j. b. Pace.
r.; note dated November Il. 1898. for