The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-03-13
A COMPLICATED CASE
THE CHARLOTTE BANK AND W
w. VASS HAVE LIENS.
Mr.. CHAS. H. BELvN COMMISSIONER
Unless There is an Appeal to the Supreme
Court the Mill Will be Sold in the
Early Summer.

Company litigation. unless an appeal is
taken to the Supreme court, closes It
most interesting legal fight involving
claims to the amount of $4,000, and
some nice questions of law. For year
this case has been before Referee A. G.
Zollicoffer Esq, of Henderson. Al
most every lawyer in Raleigh, and sey
eral lawyers i'm other places have par
ticipated in the hearings. There has
therefore been widespread interest in
the case.
The property involyed-thc magnifi-
cent water power on the Neuse, with
modern machinery for making paper.
and 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
a trust, and as result there has been
a sharp advance in the Price of paper
Well conducted. the plant on the Neusc
would make money supplying no other
markets than those in North Carolina
EFFECT OF THE REPORT AS
CONFIRMED.
The judge overruled all the cxcep-
tons to the report of Mr.. Zollicoffer.
with two exceptions: /. He held that
no judgment should be entered against
j. \. Holding, personally in favor Of
sundry persons who had furnished him
materials as lessee of the mill. because
he was not n party to the action. , He
held that the costs should be proportion
ately 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 SD, 800 and inter
est, a 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. S454.29: L. Il. F0n-
yeille, S15S.0T; Coy Fonveille $59.S4:
Henry McCreath S51.6S: +. ]. May,
Sf9.60: II. G. Holding $3.50, and also
to give prior liens to be paid proper
tionately out of the various properties
mortgaged to the Raleigh National Bank
to the First National bank of Charlotte.
and w. w. Vass. ,Jr., trustee. to Daniel
NJ. Hicks, 1897 SO. and Harrison Bros.
* Co., S251.11. 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 hhe suit
The mortgages to the Raleigh Nation
al hank are adjudged to he 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
gage to Vass, 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 been retained by Holding. lessee.
A sale of all the property is ordered
to he made by Chas. II. Bclvin, who was
appointed Commissioner for that pur-
pose. The sale of that portion applica-
be to the payment Of the debt TO the
Raleigh National bank. and which III
eludes all the real estates and improve
ments, water power, machinery, etc.
Except that covered by the mortgage to
the First National bank of Charlotte,
and W. w. VasS, trustee), 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 moi APP
pealed to the Supreme court, the sale
will take place early in the summer.
Certain creditors, the Pussy d Jones
Company, j. \. Holding s. NJ. Smith.
j. II. Horne x Sons, A. II. Page Mrs. s
V. Purefoy, and w. o. Allen, were
given Judgment against the Raleigh Pa
per Company without any lien on any
of the property. Ellington. ROyster d
Co, were adjudged to have a lien for the
balance due them on the purchase money
for small engine sold by them 70 As
kew, and by Askew to the Raleigh Pa
per Company.
All the other creditors, whose names
arc almost legion were adjudged to have
dealt with Holding, lessee. and not with
the company, and it was held that the
Paper Company was not indebted 10
them.
ALLOWANCES MADE.