The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-07-14

The Receiver Makes Sale r she I.aa
of the ~Asscts-The Trust t he wound
lie Next month-A Last sDsvidend of
one Per Cent 20 be Pal
According to advert aseraent, the Hon.
Homer J. Clark, Receiver of the failed
First National aank of Wilmington,
sold yesterday. morning at 10 o'clock
at public auction, at the Front
street entrance of the government
building 700 acres of lands in Bladen
and Moore counties and two judg-
ments and a claim, constituting the
last Of the assets of the failed bank
to be disposed of.
Receiver Clark real the notice OF
sale and the terms and started the
auction, but his voice failed nsm on
account of a. cold, so Z T.. Bryan, Esq,
acted as a~uctioneer.
The following tracts of land in Moore
county were put uo AMI were bid off
NV Mr. 7 Blue al the following prices
ner tract: Tract No. 1, 143 acres, IS;
tract No. 2, 1863 acres, SIS; tract No. 3,
GAO acres, $50; tract No. 4, Il acres, 80,
tract No. 5, 10 acres, 81; tract No. 6,
IL acres, S.; tract No. z, 100 acres, $40:
tract NO. 8, ~ acres, $Ao' tioSe w. %
100 acres, SIS; tract No. 10, 100 acres,
500. tract No. IL, 100 acres, $40; tract
No. IL, 100 acres $50. 80,
The lands in Bladen county were bid
in by E. K. Bryan, Esq, as follows:
One tract on the east side OF cape rear
river. known as the Daniel M. sutton
place, and one tract on the a $ slde
of the Cape Fear, known as the DOC
tor O.. Smith place., $50 for the two.
The entire amount of the bids for
the lands in both Moore and Bladen
counties, aggregating 2,070 acres, was
s257. Under the terms of the sale, al
ter the several tracts been onered
separately, the several tracts In eacn
county were offered as a whole. There
was no bid for the Moore county lands
as a whole, but Mr.. Bryan increased
his bid to $57 for the Bladen county
lands. The lands in both counties were
then offered in a lump. The oldolng
started at 1884, and the fourteen tracts
were finally knocked down TO Colonel
+. w. Kerchner for $1,000.
A Judgment for $4,114.26 was then
offered and was bid in by Mr.. J. Blue
for $3.50. Another judgment for $l5o
was bid in by Mr.. Sam Bear Tor 81. A
claim for $500 for stock assessment,
was bid in by E. K. Bryan, ESQ., for
500. Both Judgments and the claim
were then offered as a whole and were
bid in by MI. Sol ear for 500.
All the lands, the two judgments ana
the claim were then offered as d
whole. h bidding was started at
81, 100, and finally the auctioneer knock
ed down the whole to Colonel +: w.
Kerchner for 81, 154. Colonel Kerchner,
therefore, was declared the purchaser.
Receiver Clark tells us that this
closes out all the assets of the failed
bank as the only other outstanding
item of the assets, a claim against
a Florida party, was compromised yes
terday by the receivers lawyer IN
Florida. Mr.. Clark says he will conse-
quently be able to a the final dlvi-
dend to the creditors the latter part
of August and be discharged from his
trust. The final dividend, he thinks,
will be / per cent more or less or the
liabilities as proven and
With the previous dividends paid, thls
will make 81 per cent. which the cred
itors of the bank have gotten out Of the
wreck.
The bank failed November "a, 1891,
and the liabilities as scheduled by the
receiver amounted to $3.50, 600. Some
claims were later cancelled, cutting
down the liabilities to 1855 900. About
s375. 900 were realized from the assets.
The cost Of winding up the affairs OF
the bank has been necessarily large,
owing to the large amount OF litigation
necessary to collect the assets.
Receiver Clark Will leave mere To-Day
for Lancaster, KY, to settle a claim
for the Second National Bank OF Co.
lumbia, Tenn, Of which he is also re-
ceiver. From there he will go to his
home at Pontiac, ILL.,, and there will
send out the checks for the dividends
to be paid to the %depositors and other
creditors of the First National Bank OF
Wilmington. He requests that all
creditors who have changed their post
office addresse since 1896, notify HIM
self at once by postal card containing
their present address. He can be ad-
dressed at Pontiac, Ill.