The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-03-15
RALEIGH PAPER
MILL To Be SOLD
The National Bank Of Raleigh
Wins its Suit.
A COMPLICATED CASE
THE CHARLOTTE BANK .AND W.
". N.ASS HAVE LIENS.
Mr.. CHAS. H. BElVN COMMISSIONER
Unless There is an Appeal TO the Supreme
Court the Mill viii be Sold in the
Early Summer.

The termination Of the Raleigh Paper
Company litigation. unless an appeal j.
taken 10 the Supreme court, closes II
most interesting legal fight involving
claims IL the amount of $4,000, and
some nice questions of law. For a year,
this case has been before Referee \. C..
I~ollicoffer. Esq, of Henderson. Al
most every lawyer in Raleigh. and sew.
eral lawyers in other places have par
ticipated in the hearings. There has
therefore been widespread interest in
the case.
The property ~mvolyed-thc ma-nifi-
modern machinery for nsaking paper,
and Il large track of very valuable land
is one of the finest seats for a manu-
featuring plant to be found anywhere.
Ten years ago the property would have
quickly commanded forty thousand dol
lars. 1t is worth more than that. Near
ly all the great paper mills have formed
Il trust, and rs Il result there has been
- re ddN dItt III tHt IJltt oI pa ItT.
Well conducted, the plant on the Neuse
would make one supplying no other
markets than those III North Carolina.
EFFECT or THE REPORT AS
CONFIRMED.
The judge ovcrrnlcd all the cxccp-
tons to the report of Mr.. Zollicoffcr.
with two exceptions: /. He held that
40 Judgment should be entered against
j. \. Holding, personally i'll favor of
sundry persons who had furnished him
materials as lessee Of the mill, because
he was not ii party to the action. >. He
held that the costs SHOULD be proportions
atcly paid by the various parties to the
suit.
The effect Of the report of Mr.. Zolli-
Golfer, as confirmed by the court, is TO
give the Raleigh National Bank, which
holds a mortgage for so, 800 and inter
est. q lien on the property covered by
the mortgage, subject to the following
encumbrances for labor performed on it
by the following persons: Allen & Cram,
Machine Company. $454.20; l.. +. Fon-
vcillc. $1oS.O7: Coy Fonveille. $:J9.S4:
Henry McCreath. S31.GS; f. J. May.
$4,000: II. G.. Holding, $50. and also
to give prior liens to be paid proper
tionately out of the various properties
m~ortgaged to the Raleigh National Bank
to the First National bank of Charlotte.
and w. w. Nass, IT.. trustee. to Daniel
NJ. Hicks. S33S7.63. and Harrison Bros.
Y Co.. S251.1. These last two claims
were for materials furnished. the claim
ants having procured judgments and
levied executions on the property prior
to the beginning of the suit.
I1,c - -, 30. ~, ~, p,lo;rh NJ ..a,
al bank are adjudged to be prior liens
on all the property of the company, eX-
cept certain machinery covered by the
mortgage to the First National bank Of
Charlotte. and a brick house and an
engine and boiler covered by the mort
gag to Nass. trustee. This machinery
and the house and engine were put on
the property By Holding. lessee, after
the mortgages had been made to the
Raleigh National bank. and the title
had beer retained by Holding, lessee.
\ sale Of all the property is ordered
to be made by Chas. II. Bclvin. who was
appointed Commissioner for that pur-
pose. The sale Of that portion applica-
bic to the payment Of the debt to the
Raleigh National bank, and which IN
cludeS all the real estates and improve
ments, water power. machinery. etc.
teNctpt tnat covered by the mortgage 10
the First National bank Of Charlotte.
and w. w. NaSS. truStcej, Is to be made
for one third cash. and balance ut one
and two years. The sale of the ma
chinery. covered by the Charlotte banks
| mortgage. and the house and engine.
covered by the NasS mortgage, is to be
made for cash. If the case is not APP
pcaled to the Supreme court. the sale
will take place early in the summer
Certain creditors. the Pussy IL Jones
Company, j. y. Holding. S. NJ. Smith.
j. H.. Horne x Sons. \. +. Page, Mrs. S.
Y. Purcfoy, and W.. o. Allen. were
given Judgment against the Raleigh Pa
per Company without any lien on any
of the property. Ellington. Register Il
Co, were ~adjudged to have d lien for the
balance due them on the purchase money
for Il small engine sold by them - AS
kew, and by AskeW to the Raleigh Pa
per Company.
All the other creditors. whose names
are almost legion, We're adjudgedE to have
dealt with Holding. lessee, and not with
the company. ami it was held that the
Paper Company was not indebted to
them.
ALLOWANCES MADE.
The Referee was allowed 5000. Mr..
Bclvin WAS allowed the disbursements
| made by him as Receiver Of the prop
n,t,r Tho ylri,uS Tartias fiI;p,r ri, i,,G