Evening star., 1897-03-30
UNITED PRESS ASSIGNMENT
Action Taken by the Directors in New
York.
Ii Was ID -cided 10 Enter Into Nolun-
tary Dissolution and Go Out Oh the
News-Gathcring business.

The United Press, an association en-
gagged in furnishing news to daily papers,
made an assignment yesterday in New
York to Frederick 6. Mason Of orange y.
]. The papers were signed by Charles A.
Dana, as president of the corporation.
The New York World publishes today
the following story OF the action taken by
the directors:
The directors vi the United Press met at
No. l95 Broadway, Vice President W. NJ.
Laffan, general manager OF the Sun, in the
chair. The withdrawal from the associa-
tion of the New York Herald New York
Tribune, New York Times. Evening Tel
egram, Philadelphia Evening Telegraph,
Philadelphia Record. Philadelphia Ledger,
Boston Herald and sixty other newspapers
in New England was discussed, and II was
seen there was nothing left of me United
Press.
motion was made and carried TO enter
into voluntary dissolution. maxi an as
signment and go out OF business. IL was
agreed to make Cashier r. q. Mason,
cashier of the United Press. the assignee.
In accordance with this resolution. as
signmeut papers were duly drawn up AID
filed among the county records. The as
slgnment provides:
This indenture. made the twenty-ninth
day of March. one thousand eight hundred
and ninety-seven, between the United
Press, corporation created by and
ganized under the laws of the state of New
Broadway, in the city of New York. and
hitherto doing business at No 135 Broad
way. il the city of New York, in the col
lection and distribution and sale Of news,
and Frederick q. Mason, residing at No.
81 Hawthorne avenue, in the city OF East
Orange, New Jersey.
'Witnesseth:
':Tha, whereas the United Rress is justly
indebted TO sundry persons in divers and
sundry sums of money, and being unable
to pay the same ia full, il desirous of max
ing an equitable distribution of its prop
erty and effects among its creditors:
Nov therefore:
'First-rhe United Press in considera-
ton of the premise. and of the sum of one
dollar tSl, TO IL and in hand paid by Fred
erick q. Mascn. the assignee, the receipt
thereof is hereby acknowledged, has
granted, bargained, sold. assigned, deliv-
cred and conveyed. and by these presents
does grant, bargain, sell assign. deliver
over and convey unto Assignee Mason. his
successors and assigns, all and singular
the estate and property. real and personal.
of every kind and nature. and wheresoever
the same may be, of the United Press,
which is held or owned by it.
To have and TO hold the same and every
part and parcel thereof with the appur-
terances, +. q. Mason, his Successors and
assigns in trust, nevertheless, for the fol-
lowing uses and purposes.
''Sccond-F. G. Mason shall forthwith
take possession Of all and singular the es-
tate, properly and effects hereby above as
signed. transferred, conveyed and set over
or intended to be. and shall with all rea-
sonable diligence sell and dispose of the
same and convert the same into money,
and shall collect any and all bills, promis-
sorry notes. bonds. accounts, chooses in ac-
lon claims or demands and money due
or owing the United Press. SO far as the
same shall prove collcctable.
Third-Out of the proceeds of such
sales. collections. estate ana property +.
q. Mason is authorized to pay and retain
all reasonable costs, charges and ex-
penses Of making, executing and carrying
into effect this assignment in this behalf,
including lawful commission for his serv-
ices in executing and carrying out the
trust created in this behalf in this assign
ment'
Assignee Mason is directed TO pay out
of the residue. If there should be sufficient
therefor, to each and every of the creditors
the full sum that may be justly due and
owing to them respectively without any
priority.
Thus ended. formally in this legal shape.
the contest between the Associated Press
of the United States, 4 purely co-opera-
tive association. controlled by all of the
newspapers of the United States, and the
United Press Association, which has been
controlled by four papers. the New York
Herald, Tribune, Times and Sun. under
the personal management of Charles a.
Dana as president. and w. NJ. Laifan, bus
mess manager OF the Sun, as vice presi-
dent.
The chief thing of value about the United
Press was its good will. There Were no
other assets. save some Office furniture
and leased Western Union telegraph
wires the latter being more than offset as
an asset by money due the Western
Union on telegraph tolls. The debts are
said to exceed S3W.000.
The articles of assignment of the United
Press do not state the Liabilities OF the
corporation. 1t will be one of the first
duties OF the assignee to file with the su-
preme court a schedule. showing In detail
all of the assets and debts of the associa-
tion-
Boards. l2-in.. 1c- per foot. Libbey & Co.
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