The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-03-23

s-.. sutsers.c statements regarding
1870 Affairs OF lie Spring Hi
- ..yrnoaay. is organization and sale
49,. nroeerty 60 TIE city, we're rna1e
- ne public yesterday upon the
- ~ ~. superior coart OF the FIRST re-
- raeesvsy Trsmyer. who, after stat
- sxaet condition Of affairs as be
- s...nd tnez since assuming charge OF
= s..,xs. etc, Of the company, asks the
- "a authorize hiIn 70 enter the s1it
- by sae Puget Sound National
80 -. ne spT.1g Hi Water Company
!. Al. s1z esfsnc the same he also asks
- rscrt 10 empower him TO levy an as
- OF - per cent OF the unpaid
- .. me company, amounting 10 tl15.-
ss report Receiver Trenper states
- hs has investigated the affairs Of tha
l.msuny and sought cut its assets, SO far
!. L. ass been abe 60. and haas that Inc
..rsxny vas Incorporated on or about
luga.; q. issl. with a capital stock OF a.
- IA; about July T. 1875. the capital
80 gzs Increased TO s1go.0oo. and again
= Fesrsasy =. 1854. 70 $4,000. The irst
rss:iaazation. s2S.seo. gas paid IL foll. and
- call az assessment OF - per cent.
ga made on the $40 90 increased capital
g Il.
- Acrsase 10 80 GO two calls or assess
rss.s Of 10 per cent. each were made by
sss company upon It's stockholders. each
sneustlng 70 81. go. and so far as he has
kaen s0le 10 determlne there stii. remains
tEA Of the capita stock unpaid.
TIE following named persons are the
,sscx holders Of the company. representing
s,asslAer the total number or snares Of
- ssfiisl stock, 2.59 % the par value OF
re eaeh: Estate Of Bailey GAtzeri, as
shsrss. estate Of +. r. Minor. s: John
Lar, iss. J. :. Goldsmith. 8: Jacob
rzrta. -: sehwabacher Bros, $50: stet-
ss-Posf NIL Company, 60. First National
ssAk Es. al Of SEATTLE: estate OF Martin
sRAs 100. eSsate OF Louis Sachs. 100. II.
n Walker. 10 s. W. Rosenstock, JOG: TX.
u MfwIiiams. IS: Jacob Haas, 90: s.
0x@nbsam. 100; Il. s. Heller. 100: 3. w.
He.Isr. lss James 4. McWilIlamg, s, al
e saa Francisco.
he receiver states that he is Informed
tssi On or about January q, 1896. the
sWng Ill. Water Company. In conside-a-
tas u 80 Sc. entered into a written
ssnETact with the city OF Seattle for the
sac Of The water plant to the city. and to
execute good and sufficient conveyance
& he property free from encumbrance
aaa hens On October q. the city paid
ts eenfany the fun purchase price. the
ta=p4sy executing 70 the city rs deed.
ffsr 20 the execution of this deed the
ssir- company executed to the Puget
s9sad Material bank. as trustee, its deed
Of al The property and rights in trust to
seesfe TIE payment OF It's $4,000 worth OF
fo14s ard Interest This deed has been
AID q noE lisn and sncumorance on the
ffsaerty conveyed 10 the city by the water
tsn5eay The Spring Hin Water Com
faay AID eondholders. secured by tia
trsa eeed. have caused the Puget Sound
sasonal bank to institute proceedings for
- foreclosure Of the lien created by thu
Tvs deco, and Il has commenced an action
snich the Spring HIN Water Counpany
al he city are defendants
kzNivx Temper states that as far "A
ss able to learn the water company has
fasta 10 protect the city in It's title 20
- property. There Is IN the hands OF the
stsssFsr, az the property OF the water
san1any. two promiSsory notes executed
y z l. Terry and wife. bearing date OF
seT ! 1871. and payable on or before three
izr after date to the order Of Jacob
f4fsa enc being for $50 600 and the other
~ Noa The endorsement on the hack
zach shows that the Interest has been
Fsh up 70 January ? 1898. The receiver
40 aas IN his Possession the mortgage in
. security for the payment OF the notes.
Fae property consists OF lots In Terrv's
ssaicate and Boren and Maynard's aaiI-
u.as 70 TIE city. There are no other as
- property rights OF outstanding cred
" aoe or belonging 20 the water company
sT nan the unpaid stock and the
Try noFtgage. that IL. SIS far as the re-
ever has yet discovered. The receiver IL
ais'Ined though. that the Terry mortgage
: hFst mortgage and lien on the lands
NJ Temper states that ne has not yet
s'roFsrec all az the corporate bonds and
.3tas and books Of account OF the water
enFaay but from thu books that he has
sAahained !; Is apparent that there Is AZ
-, y PEE cent. remaining unpaid on the
s9sk or each % the stock holders named
'ln. ard that the stockholders are, with
~ esesruoas responsible and well able
~ Sotwffhxtanding the existence OF
= encuForanse upon the properly s.oga
Ie water company 20 the city. ard
- 70 sncing taat none OF the stock
.--ses bad not paid IN fun for metz -'Arx.
- mercy PAID BY Tire city FOR ne convey
-. ~as divided up among the aiockAoid-
fsee taking bis pro rata according 40
~ .unasr ~ shares held bv him. re
.soak nsmet as plaintiffs in the CON-
s..sA N IRA aetion in which the report
: aasas are stockholders n the water com
sV. Trey are p : Heller. s W. Heller
- Ahrsaam Schw sbacheT. who - one os
Nahacaer Tros.. named "a stock
-. naV'aS faily reported. the receiver asks
-. "aI to make an order authorizing
directing him. A. receiver fer
spring Hii Water Cornpany.
enter BIS srnoarsace IN the
- " re f3rct Sound Nstiorsi bank
= " TIE Spring Hn water Company
80, 50 aefeaa TO same ~ court He
more requests the court 20 ernrow-
ara direct hlEn 80 make. levy ara cail an
ssi'ent % - per cent. on TIE unpaid
-. q re ws'er company. sn. 10 hiring
'ssSier ceart. - '''N
hI.ML con d 4 MIT-rIII