The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-01-27
MosHER-MrDosALp REcErvEssnIr
Compromise Affected nv Receiver
Furth with Creditor III. G. bond

Proceedings In the superior court yes.
teFday resulted IN an order from Judge
Moore authorizing a compromise settle
ment In the Mosher- Mcdonald receiver
ship case.
Jacob Furth. receiver Of Mosher & Mc-
Donald. fled a petition showing that IN
his conduct Of the business as receiver.
he has borrowed from II g Bond s. On.
issuing therefore receivers certificates
no part Of which has been paid. that prior
70 the receiyership Mosher 4 Mcdonald
we're logging on lands belonging 20 Bond
under contract By waich Bond reserved
purchase money mortgaEe on the tim-
Der for the purchase price viz: sloo. o1o.
With interest. that Bond hy this contract
Vas TO receive 81 per thousand feet % az
bgs cut from these lands by Mosher &
Mcdonald and sold: that during the past
year. continuing operations under thia con
tract. the receiver has cut about lax .eo9
feet Of timber from these lands but Bond
estimates the quantity cut at 500 90 feet;
tAt ont Of the proceeds OF these the re-
esver has paid s. 90. the interest ON pur-
chase money from January I, iSs. 20 JAY
J. 1921. that the Interest for the remain
lng six months OF lSas has not been paid
tat the receiver has now on haad about
100 go feet ~ logs for which he expects
. realize shortly more than So coo. that
Bond has served notice on the receiver de-
Caring the entire principal secured BY
morigage due on account % nor payne
y interest non-payment % taxes
for tSD and non-p8y ~
stgmpage that Bond claims the right 20
take possession % the logs now Ia the
hands % tie receiver. that the receiver
however. Is advised by his attorneys that
Bond IS entitled only 70 81 per thousand
teet for the logs. that Bond should be paid
froIr the proceeds Of fhe loEs the follow
iss sums via for logs remaining s. 200. FOR
iags heretofore sod s. $50 receivers cer-
tncates ABOVE mentioned $ eo. total SCI
30. on which has been paid ss.0oa leaving
balance ~ SIS sN1. that tRoud has made
a Proposition 20 the receiver, ccuseutlng
tal the receiver shat scl The ioes re-
novet from the land and now ln the re-
csfvers hands provided Tire receiver paws
him under court order out II frs money
realized $500 90 os anpicd as follows.
hrst. TO payment II Interest ca sloa ooo the
purchase money from January 1 lss-. sec-
cni. % retiring the receivers cNrtiaca ties;
third. or account ~ principal purchase
money: provided that ere receiver may
Day ogt % she proceeds % tae hogs tae
taxes noN delinquent GA The lard ana al-
- the current expenses ~ TIRE receiver
saip m handling tae legs thar x sh1z ccal-
Promise IS adopted Bond has aErscf 20
Tltaao.3 foreclosure proceedings
ffon tarse statements ~ asse8ra tH2t
iheTe IS difference of s. SEQ between the
two ss3imRtes ~ what "a now tue Eop3
To- TIE logs Receiver FGrth saws In hts
petition that y cn sale ~ tae 1osz there
ssSa be found &c Pc a larger Quantity %
tass tasn BON csfsspsted ant ~ tanks
isere s-.i be tae d{Cerence WI - re-
eace1 20 that oNttRt. ans Will - further
teancae oT tae amount cue for Interest IA
fsrelytr'k ceruaeates. estimated 40 500
ne reQreseats the nas-t or compromise
S Urgent st,aE uT that 2 he becomes fr-
FoiYei te KS cation wltA Bond ere ccrteu1-
pAted sa.e ~ tha ior~ NGl ~ sntsrteTed
VIA He ass states taat there Arw et1e~
ss2eFers ae.s'lss ever ant aoove taose
e2e Rem mounting go abcus SIS 30
IN 8cosrtsrca vita tAe petition Judge
Aeo-e eesf an arS3er tnssract-ns Re
cefer k-r,- to accept Jes eorpf3a1sse
Proposition ses. the legs. ana pay Bovd
sAH" - 30 apnitef as "a tae psU4an.
fieFste3 1855 the receiver before paylng