The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1900-02-27

ny 0AAS SA4@AA @AO
poration can be advantsgeOusly sold
and disposed of and converted into
money under the orders and directions
at chambers or at term time OF the
Judge ~ the Superior Court residing
in che F,ftn Ju1IcIal districr, or Of the
Superior Court Judge holding the
courts Of the Fifth J Idicisl District.
Ant Ia PERFORMING e. cir duties un
der the provial1Ds Of this Act SAID
Trus ees znalt be deemed and treated
il IKE name az il they were ReceIV
ers of tne superior Court Of Durham
county. with power and lrIsdIction
horaDy gwen TO the aforesaid resident
] ,dge and tn the Judge holding the
Courts OF the Fifth ia Ut district TO
ex-TcIse a general supervision over
saId CrustPes, and direct tnem from
time TO time, by proper orders, in the
performance of their duties.
SEC 5 That said Trustees shall have
DO ", r and authority to bring SUITS in
all courts of compett MT jurIsd IcUion
conct rnIng any AM all meGUers effect
ing che property and property rights
OF said corporation, aud toe assets be-
longing thereto, and shall have au
thorlTy to employ n or more aGJOr
neys to aid and as ,isE them m the per
torrance Of their duties under this
Act, and pay out of the funds coming
into their hands all reasonable and
necessary counsel and attorneys fees
and expenses, and ell other necessary
expenses incident to litigation and the
perfor nance of their duties under this
Act
Sec 6. Thet as speedily as is prac-
tIcable, he assets o. said corporation
shall oe sold and disposed Of aud o
verified into money, and out OF the
money coming into their hands said
Trustees shall pay off and discharge
all debts and liabilities of said corpora.
ton, and pay all expenses necessary
and iDcIdent to the performance Of
their duties as said Trustees under this
Act, including an allowance to said
Trustees of their actual necessary per.
sonal expenses and In addition thereto
sucn commIs Siops as may be 6xed by
the r sIdt nC Judge of Ene Fifth Judicial
district, or Oy the Judge holding the
courts of the Fifth judicial district,
no. exceeding I've PR centum OF the
ouooY1pt ponoSvnd ond Nirny1rc.N hu
them, and he surplus shall be dis
CURSED and distributed pro "a a among
Cn- stockholders OF said corporation
according TO their respective holdings
OF The capiral at OK OF said corporation
as shown oy the stock book of said cor
Onration aS che date of the ratification
Of ms act, and by the certificates Of
STOCK died by the holders thereof with
said Trustee 6,
Sec. z. Ina upon demand madeupon
thin Oy said Tru-tees all natural per-
8 ms and cor oorstions having in their
possession or u der their control any
property, books or papers belonging TO
said corporation snail surrender pos-
sea4ion thereof to said Trustees, and
or failure to comply with such
demands shall be deemed q misde
meanOr C which the Superior Court
o. Durham county shall have jurisdic
ton and any natural person or cor
pOrati1n on Indie rment and conviction
thereof in the Superior Court of Dur.
ham county shall be punish ed by fine
or I'm OrisoU ment, or both, in the dis
Of the court, besides being
to attachment and punishment
ss for contempt Of court by int fer
ence with persons a sting as Court Re
Sec s That this Act shall b.. in force
from and after it's ratification, ana all
and clauses of laws in conflict
with this Act are hereby repealed.
Maj. Guthrie Interviewed."His Plan z Z.
planned.
R porter: "Msj Ir Guthrie-The pub.
lie would no doubt be interested to
know some things which are familiar
to you In connection with the history
and present business status of Black
wells Durham Tobacco Company and
the reIa' ions of that company at the
present time with the American To
bacco Company, commonly called the
'Tobec 20 Trust"
Mir Guthrie: Briefly stated,
whaG Is now the corporation known as
'BlackweIrs Durham Tobacco Com
pany' grew out of what was originally
a partnership which was cosen poran
with the founding Of the city of