Evening journal., 1899-09-27
SINGERLY MILLS SALE.
Efforts TO Prevent Conhrma-
tion of the Transfer.
A BElTrR PRICE NOW OFFERED

BIDDERS WE'RE MISLED BY A SUP
POSED LIMIT FIXED FOR THE
PRoPERTY-PLKNTs COST ST.
$4,000 AND WE'RE SOLD FOR
$685.
EllSton, Sept. 27.-The attention OF
the Circuit Court for Cecil county was
occupied yesterday with the Singerly
Pulp and Paper Company case. The
bondholders and James S. Mccartney
administrator of the estate of the late
William NJ. Singerly, protest against
the court affirming the sale TO Thomas
II. Savery. Of Wilmington. and Phila-
delphia syndicate, as made and re-
ported by the trustees, and yesterday
they produced witnesses, who testified
that they would make much larger bids
for the property il the court will order
it again put up at public sale.
To show their good faith in the mat
ter they produced certified checks for
sums ranging from $4,000 to So 900.
The testimony offered by the except
ants went to prove that the price OBJ
tained for the property, including the
paper mill at Providence and the pulp
mill at Elkton, was grossly inadequate,
and that had not the court placed the
amount to be received by the trustees
for the property at not less than $780,
600, large number of bidders would
have been present and offered larger
sums for the property; that after the
modification of the decree by the court,
not enough notice was given, the ex-
ceptants' lawyers claiming that the
property should have again been put
up at public sale and advertised.
Among those who testified were Ben
jamin Woln, wac stated that Wolf
Brothers would bid s13O,OOO, and pro-
duced a certified check for $4,000 as a
guarantee Of good faith. He did not
attend the sale Of the property at Elk
ton, owing to the restrictions being
placed upon the property by the court.
Walter Z. Bradley, OF No 1902 North
Fifteenth street, Philadelphia, testified
that he would bid for the mills $l23,-
$50; that is, s43,250 for the pulp mill
and sS0,200 for Providence mill. With
his bid was certified check for 81, 900.
Mr.. Bradley also stated that he had
been authorized by ex-senator Charles
A. Porter to say that he would bid
s150,000.
James S. Mccartney, administrator
of the estate of the late w. NJ. Singerly,
testified that since the Incorporation
OF the Singerly Pulp and Paper Com
p9ny, in 1890, he had been its treas
urer; that the Providence mill prop
erty had cost Sl,0S0.000. and that the
pulp mill at ElktOn had cost S492. .OOO
and that he considered the price for
which the property was sold by the
trustees (S1O5,O0O) greatly inadequate.
He knew people who did not attend
the sale at Elkton, because Of the limit
of price fixed by the court. and that
Il was not generally known that the
limit had been removed when the sale
was made by the trustees. Charles NJ
Stoeyer a paper manufacturer Of
Philadelphia, stated that he did not at
tend the sale owing to the limit OF
price placed upon it by the court. but
would have been a bidder had the limit
been removed, and that he would pay
more than the amount the property
brought at private sale.
Alexander BalfOur testified that he
would have attended the sale OF the
property in Elkton had he not known
that the limit had been fixed at $780,
600. He would bid $4,000 II the court
refused to confirm the sale, and ppo-
dueed a certified check for $4,000 as
guarantee.