The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-04
Egypt Coal Mine to Be Sold in
September.
APPOINT COMMISSIONERS
COMPROMISE OF COUNSEL Il
CONFIRMED BY COURT.
PRIORITY OF CLAIMS GIVEN
Claims of the Relatives OF the Men
Killed by the Explosion IN
1895 Included In the
Compromise.

The Federal court yesterday ratified
and confirmed the agreement between
counsel in settlement between the Lang
don-Henszey Coal Mining Company and
the representatives of the deceased per-
sons who have instituted actions for
damages in Superior court of Chatham
county, n. c. This compromise was
agreed to by Samuel A. Henszey, re-
ceiyer, the counsel representing the first
consolidated mortgage bonds of the
Langdon- Henszey Coal Mining Company
and of the first mortgage bonds of the
Egypt Coal Company and the holders of
the receivers certificates and of S. =.
Langdon.
The court further ordered that the
receiver sell a sufficient number of re-
ceiver'S certificates to raise S3400 re-
quired..
The documents in this case are very
lengthy but the substance of this i'm
portant compromise is given below:
''Whereas. on the 10Th day of Decem-
Der, 1895, an explosion occurred IN the
mine of the Langdon-Henszey Coal Min
ing Company at Cumnock, n. o., where
by eighteen employees of said company
were killed; and whereas, soon after said
explosion, the respective administrators
of the respective estates of the said de-
ceased employees instituted in the SUI
perior court of Chatham county eighteen
actions for the recovery of dramageS
against said company for the alleged
tates." Then follows the record of the
appointment of a receiver, and the re-
cital of the fact that these judgments
amounted to S1S0,O00.
1t is hereby agree as follows: That in
full settlement of the damages claimed
in the aforesaid eighteen civil actions
pending in Chatham Superior court
against Langdon- Henszey Coal Mining
Company. the receiver shall pay the
aggregate sum of $4,000 and the costs
of said action, as follows: The sum of
$4,000 shall be paid by the said receiver,
Sam'l A. Henszey, within thirty days
after this agreement shall have been
approved by the United States Circuit
court. and the remaining $1,000 to be
paid as soon as funds sufficient to do So,
adjudged by said Circuit court to be APP
plicable thereto shall come into his hands
from the assets of the said company; and
when the said 5000 shall have been
paid, judgments by consent shall be en-
tered against the defendant and in favor
of the plaintiff in the sum of S444 "A
and costs in each case and credited with
the sum paid on each (which shall be the
pro rata of $4,000, or assigned pro
tanto for the benefit of said receiver, if
he shall so demand at that time.
This compromise is signed by Murcf-
son & Calvert, A. p. Gilbert, Black &
Adams. w. A. Guthrie, III. A. London
and W. C. Douglas, attorney for the
plaintiffs, and MacRae q Day and
Womack & Hayes. attorneys for the re-
ceiver.
After reciting the complicated form in
which the cause came up, the court made
a decree by which Messrs. A. H. Taylor,
John W. Hinsdale and Thomas b.
Nomack We're appointed commissioners
to sell the entire property of the Lang
-Henszey Coal Mining Company en-
braced in the deeds of trust of the Egypt
Coal Company for $4,000 and interest,
the Langdon- Henszey Coal Mining Com
pany S265, 800 and interest. The sale
will take place the first week in Septem-
Der, as the trustors have sixty days in
which to redeem, and for the advertise
ment of sale thirty days lis required after
default The order of priority of claims,
as established by the decree, is as fol-
lows
First-Costs and expenses
allowances at from $4,000 to $4,000
Second-Receiver's certificates,
$4,000, to be increased by
now about Ito pay part of COM
promise of damages suits . 3,400
Third-Receiver's indebtedness
to be ascertained by court
probably ;. :. ......... 5000
Fourth-Bonds of Egypt Coal
Company with interest about $4,000
To be paid before damage suits
or claims for supplies or work
ana IaD0r p 81 ,4UU
Fifth-JudgmentS docketed prior
to receivership estimated at. $ 1000
Sixth-Damage suits arising
from the explosion in the mine
December, 1895. balance of
compromise ...... 5000
Claims for works and labor and
supplies furnished to be paid
pari passu with the damage
suits. estimated .......... 10000
TO be paid before Langdon-Hen-
zey bonds are reached 100000
Seventh-Bonds of Iangdon
Henszey Coal Mining Com
pany, principal 900
1t is doubtful whether the property
will sell for enough to pay the Egypt
Coal Company's bonds.
Mr.. LangdOn has been pressing for a
decree of this character since last Jan
uary, since he has desired an early sale
of the property. The decree is the re-
suit of compromise ON all sides.