Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-07-05
A BIG FORECLOSURE
Judgment Asked Against ottunwa
Opera House Company.
AGGREGATES MORE THAN $4,000.

j. w. Garner az Trustee for Stock.
holders Says That Bonds Are Past
Due and Unpaid-Jo ohm w. Lewis
giles Case Yesterday. |
From Fridays Daily.
Bonds to the amount of $2O,6S0 will |
be foreclosed on the Ottumwa opera
house, according to the tenor of pc
tition filed yesterday by John w. Lew
Is attorney for j. w. Garner, trustee OF
the Ottumwa Opera House company,
against that company and several other
persons who hold Junior mortgages.
The plaintiff alleges that since about
April 10, 1880, the Ottumwa Opera
House company has been corporation
duly organized under the laws of the
state of Iowa, with its principal place
of business in Ottumwt. That it owns
lot 2S1 in block 81 on which is situated
a building used as an opera house.
That on or about the 2nd day of De-
cember, 1889, the corporation desired
to procure loan upon said property
and made and executed to j. w. Ed
gerly, trustee, thirty-four bonds of
$500 each and thirty bonds of $1D0
each, due December 2, 1899; that for
the purpose of securing the payment of
said bonds, the company executed n
mortgage upon its property to said
trustee who sold the said bonds to
the following named persons in the
following amounts:
G. N. Greenleaf ........ $685.. $4,000
CITY Savings Bank ...... $500. 5000
S. =. r. Despaux .............. 1000
j. Il. Merrill & Co. ...... 49,. 5000
Lizzie D. Chambers ............ 1000
Sarah Edith Des Meyer ........ 500
Tlaintiff states that all Of the above
named parties with the exception of
Lizzie d. Chambers still own and hold
the said bands. Plaintiff says that the
principal of said bonds is past due and
wholly unpaid and that the interest
coupons in the following payments are
unpaid
Greenleaf bonds 1855. $50. -. $3.50
City Savings bank bonds ........ 210l
Union trust Company bonds, pur-
chased from the estate OF Liz
zie d. Chambers 80. ..... 1901
Plaintiff says that on October 10,
1894, the Ottumwa Opera House COM
pany, by resolution of the board OF di-
rectors, designated j. W.. Garner as
trustee in place of j. w. Edgerly, de-
ceased, and that he is in fact, the sue
cessor Of J. w. Edgerly. Plaintiff fur
Their states that he has in writing, le-
manded payment of the principal OF
the bonds and of the interest coupons
and did on the 2sth day OF June, 1900,
MAZE a written demand for the posses
sion OF the premises Of the company
and OF the rents and profits arising
therefrom.
Plaintiff states that still another
mortgage exists which was given May
9, 1892, by, j. w. Edgerly, trustee, 70
secure the payment of bonds to the
amount of $500 in favor of the fol
lowing named persons:
j. w. Edgerly ......... $500. $4,000
e. Mahon ........ ........... 1880
j. 81. Merrill ........ .. 500
w. A. Jordan & Sons, ...... 80. 1900
All of these amounts are made a
second lien upon the property of the
company by the terms of the mort
gage.
Plaintiff alleges that the Ottumwa
Opera House company is insolvent:
that a majority OF the holders of said
bonds have made demand in writing
for payment and have placed the said
bonds within the reach of the COM
pany for surrender in case they were
paid, and that said payment not hav-
ing been made the plaintiff prays first,
that the action of the board of direc-
tors in appointing ]. W. Garner trustee
may be ratified and confirmed and
that he have Judgment against the
Onera House company for the sum OF
$20,6SO and an order for sale of the
property to satisfy the same. 1t is
further prayed that the mortgages in
favor OF the estate of J. w. Edgerly
and q. Mahon, J. Fl. Merrill and w. 4.
Jordan g. Sons be declared junior to
that of this plaintiff which was exc
cuted December 2, 1889.
Other Petitions
McElroy & McElroy have filed four
petitions in the clerks Office, three %
them asking that the title to certain
real estate named in each be quieted
in the plaintiff and the fourth asks
judgment for failure to pay costs on
a bid made at sheriff's sale.
George E. Jenkins VS. Amanda Gibbs,
ct al, it the title of the first petition,
while the others are: George w.
Thayer VS. A. j. Davis, ct al, and e. L.
Peterson VS. Elizabeth c. Blackman,
ct al.
The fourth petition is entitled Philip
Duffy and E. E. McElroy VS. George
Godfrey and relates to the troubles of
the colored church of which Fred Lo-
max was at one time pastor. The prop
erty was sold at sheriff's sale and was
bid in by George Godfrey, who paid
all Of his bid but $3.50, for which these
plaintiffs demand judgment, they being
entitled to that amount by reason Of
being prior lien holders and judgment
craditnrs when the sale was made