The age-herald., 1899-11-05
SALE WILL TAKE
 PLACE TOMORROW
Assets of EIyton Land Company
 to be on the Block.
NO MINIMUM PRICE FIXED
Reorganization Committee the Probable Purchaser-Will Make Extensive I'm provements-Mrs. Noble Failed to
 Press Petition for Postponement

The real estate, buildings. stock and other assets of the EIyton company will be sold at noon tomorrow to the highest and best bidder. No minimum price has been fixed by the court.
 As stated in The Age-Herald yesterday Mrs. Ida S. Noble had filed a bill in the chancery court praying the chancellor to issue restraining order postponing the sale. A hearing of the cause was set for 10 o'clock yesterday morning. but at that hour neither the complainant nor her attor- neys were in court and the case was passed.
 No further obstacles to the sale now exist and is is very improbable that any new ones will arise between this and noon tomorrow. The sale will take place in front of the court house door.
 The EIyton Land Company
 The Elyton Land company was the pio- neer factor in the upbuilding of Birming ham, having been organized back in the days when Birmingham was a struggling village. With the growth of Birmingham the company prospered and at one time it's stock was quoted at $6 400 per share, its par value being only S100. The financial condi- tion of the country in the early 90's had its depressing effect on stocks and properties in Birmingham, as well as elsewhere and the Elyton Land company found it's assets gradually depreciating.
 Six or seven years ago the Elyton Land company transferred all of it's assets and liabilities to the Elyton company, the lat ter company having been chartered by the legislature of 1923, with an authorized standardization of $1O,O0O,OO0. This transfer was opposed by some of the stockholders, who contended that their interests would suffer by reason of the Elyton company's absorption of the Elyton Land company.
 The Dowdell case, growing out of the transfer was one of the most bitterly con- tested suits ever tried in the courts of Birmingham and was taken to the supreme court two or three times It was finally dis posed of three or four years ago, the court holding the transfer of the Elyton Land companys assets to the Elyton company to be legal and equitable.
 Receiver Appointed
 Next came the appointment of recover, F. M. Billing of Montgomery being named for uht position.
 This gave rise to new litigation certain holders of stock alleging that their interests ir the company would suffer under the ar rangemenf The complaints filed by Mrs Ida $. Noble, a pondholder, and Mrs. Susie Martin Morris a stockholder, are familiar to the public the decree of the chancellor having been rendered last Wednesday and referred to in The Age-Herald of Thurs day.
 Friday morning Mrs. Noble petitioned the court to order a postponement of the sale advertised for tomorrow, but, as stated above. failed to appear at the designated hour yesterday to press her suit, and the case was therefore passed.
 Will Make Improvements
 Whether there will be more than one bid der at the sale tomorrow is not known, but it is almost a certainty that the successor to the Elyton company will be company composed of stockholders of the present Elyton company In fact, according to in formation obtained by an Age-Hcrald rep resentative from an official of the Elyton company, the leading spirits of the re- organization scheme have already agreed upon a policy. of improvement and liber- ality According to this official the re- organized company will have ample capital dor every need and will begin at the earli-