The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-08-15
TERMINATION OF LITIGATION
The Property OF the Whiskey Trust
Sold at Public Auction.
The Sale Proved Mere Formally,
No Bids Being Made Other Than
That Of the Reorganization
Committee Of 100000.
Which was Accepted.
BY Southern Associated Press.

BY Southern Associated Press
CHICAGO, august 1.-THE eud of the
most remarkable legal tig BITS in the his
tory of corporations litigutions came
to-day, when The property of tue Dis
tilling and Cattle Feeding Company,
commonly known as tho Whiskey
Trust. WAS sold at auction on the court
house steps III this city at ii 30 O'Clock
this morning. The sale proved mere
formality. rs there were no bidders be
SIDES tue reorganization committee,
whose bid of 81, 500. 600 INCORPORATED in
the decree of sale, was accepted. Geu.
John McNulta, the receiver of the
trust, began the sale at 10 o'clock.
Marshall Arnold and four deputies ac
companied the receiver and stood bv
his side while he read the long decree,
which took an hour and half to read.
at it's conclusion he said: "I am now
authorized to accept bids for this prop
erty. Anybody can buy it, provided
they pay no the interest of $50, 600 IN
cash, as provided by the decree, which
! buyo just read. DO | hear any bid
ders 2"
Levy Mayer, CT counsel for the re. or.
ganiZntiOn committee, stepped for
ward, and OF behult Of the re orgnniZa
ton committee, whom lie called by
name, renewed the bid contained IN the
decree of 50 500, 600.
II renew this bid, said lie, ION con.
ditlon that the receiver prosecute the
suits for over u million dollars, us pro-
vlded III the decree Just rend, and also
on conditiOp that all the other terms of
the decree are carried out to The let
ter
He then handed Gen. McNulta Ger.
titled check for 100000. Three mia
utes wero allowed for other b ds, and
ut the expirGtion of that time the prop
erty was declared sold to the re orguuI-
Zation committee. The property sold
does net include all that owned by the
old trust. Seventeen dlstilleries, the
cream Of the lot, were selected by the
reorganization committee for pur chase,
besides the office building at Peoriu.
Tho dlstIlieries purchased to day were
the Shufeldt, OF Chicago; the Star aud
Crescent DIstillerIes. OF Iu2sweil
county, Illinois, the Central, of ST.
LOUIS; the ST. Paul, the Rlverdale. of
Chicago; the Hamburg, of Tuzewell
county, Illinois; the Northern, OF
Peoria; the Manhattan, OF Peoria; the
Monarch, OF Peoria the Great West.
ern, Woolner and Peoria dis;illeries.
all OF Peoria; the Willow Spring Dis
tillery, of Omaha; the Consolidated, of
Cinciunal: the Madiux Hobart, OF
Hamilton county, Ky. the Wabash, of
Terte Haute, and Latonia, of C!ncin.
natl.
The property is sold ou condition
that 1t shnll be subject 10 trus, lien to
secure tue payment OF $1,000, 900 of
bouds, secured by trust deed to the
Central Trust Company, OF New York,
IN suit instituted by Gen. McNulta
against Jos. Is. Greenhut and others,
which SUIT seeks to set aside the Issue
OF 81, ,OO0,OUO OF bonds. The trust lien
also secures the payment Of such re-
butte vouchers as the court shall finally
order to be paid The reorganization
must pay IL cash only in such proper.
ton IN the sum OF 50, 500, 900 MS tho
total number of such accounts of the
DlstiIling and Cattle Feeding Company
not owned or controlled by the reor-
gnnlHatlon committee bears to the total
capital stock of said COMPANY, but It
must pay the balance OF the purchase
price from time to time as required by
any court having jurisdiction to the OK
tent thnt 1t shall enable tho receiver to
pay in addition to the cost of admiuis
tratIou OF such claims ae Shall, upou
final hearing, be ordered paid by the
court,
Receiver AcNulta rctains a lien on
all the property Of tho trust as security
that the terms of tho sale shall be car
ried out, and the court reserves to
itself tho authority to summarily re.
take possession of the property III the
event tuRt Its assets are being wasted,