The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-01-13

There will he no sale of the Copper
plant and the two groups of mines
controlled by the Salt Lake City Cop
per Manufacturing company, or, at
least, for the next twenty -one days, a
continuance having been granted to I
the 4th day of February. The sale I'M
der the foreclosure of the trust deed
was scheduled for Monday at high
noon, but yesterday, Trustee Hanauer
made a. change in the advertisement
which announces the date of The sale.
and now 1T is fixed at February 4tln as
stated. The postponement was made
ait the request of all parties interested
in the trust deed and the notes whicsi
lit was given to- secure and the indica-
tions are that a settlement is about
to be made This morning President
May OF the company is expected to ar
rive in the city from Denver. When
he left for Utah the gentleman did
not know that the negotiations for a
continuance would reach a suceessful
termination and it was for the pur-
pose of being present at the sale that
ne made the trip. 1t is possible. that
Mr.. May will now remain in me city
thoroughly Strengthened out, or the
sale is made.
One OF the most Important develop.
mentS which took place yesterday, far
oveTlshadoWing the continuance of the
sale, was the payment of the heaviest
note held by the creditors of the COM
pany through the Commercial Ma
tional Bank of Chicago. This paper
stood on record in the name Of Mr.. /
Hanauer, who stood for w. S. Nc
Cornick and others, and called for the
sum of $4,000 and interest Soon
after the opening hour of the bank a.
dispatch received from the CONNER
cial National of Chicago, one of the
correspondents for Mccormick dS Co.,
announced that sufficient funds TO
cancel the note and interest due, had
just been deposited to the credit of
the holders of the note. Just who made
the deposit is, of course, known only to
the people on the inside, but it is
said to have been Mr.. Green. into
whose hands the plant lis about to
fall, if present indications are not at
fault. For the past few days Mr.. Saks,
representing the Sals-May faction OF
the company, has been in Chicago in
close consultation with Mr.. Green and
1t was these gentlemen who fixed up
the deal and subsequent agreement IN
der Whichtlhe sale was continued. 1t is
Shoenberg are to receive their money
back from the Green side of the house
and the latter is to take the works and
convert them into a combination smell
ter Just where Mr.. Singer comes in
is unknown, but those who are on the
inside do not profess that these cham
ges mean anything favorable for that
gentlen1an's interests. 1t was Thought
that Green and Singer were in to-
getner, but such does not seem to be
the case, although There may be some
developments in that direction before
the date set for the sale, With the
payment of the $4,000 note the debts
of the company have been reduced to
about $275,000 and it will require that
much to get the works clear from at
tachments and the action of the deed
of trust. In this same connection the
attorneys of the recent attaching credt-
tors have received instructions to call
off their dogs Of war for the present
and a settlement of all of these claims
seems to be a matter of the near fu-
ture.
For the past three or -four days
Trustee Hanauer has been receiving
long dispatches from Denver and
Chicago, all of the Interested parties.
with the exception OF Mr.. Singer, who
has been silent since his departure
from this city, taking a hand in tho
transmission of intelligence and in
structions. Not until yesterday morn
ing, however, could anything be said
with any degree of certainty and then
the announcement was made that
there would be no sale until next
month, if at all.
The exact whereabouts of Mr.. Sing
err are not known in this city, even
Secretary FULLY of the company being
entirely in the dark. The last report
received i'll the city regarding the gen
tlenan's plans was to the effect that
he would be on deck prepared to make
a healthy bid on THE property, and it
is more than likely that he Will drop
in before Monday. unless he is on the
inside with Green and therefore en-
tirely posted.
Daily. the situation becomes more
complicated, and ASA, result, the peo-
pie of this city and the entire terri
tory, as matter of fact, are watch
ing for THE outcome with no small de-
gree of interest. Very naturally they
desire to see the works completed and
placed in operation, no matter who Sc
cures them in the long run.
, nUyW nav on TNO IONGER