The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1901-02-13
THE HOPKINS FAILURE.

Last Monday ev ming G. w. Hopkins &
Son of North Aitleboro, Mass the contrac-
tors of the new school building, an
nounced to the building committee of
the school board that they would be un-
able 20 complete the contract because of
financial difficulties. In the contract it is
stipulated that il it was found, during the
progress of the work, that the co tractors
were unable to complete it the work could
be continued b. the building Immittee
after giving the contractors three days no
tice, and this work would be- paid for from
the per ceutage OF the contract price re-
served by the committee.
The balance left of the contract price is
$500 aud it il estimated that il will require
from $500 to 1000 10 comp ete the work on
the building,
The contractor informed Chairman j. III.
Lucia last Friday that he was going to leave
for North Attlebo5o and that he should
probably go into iasoly cncy. GIN. Lucia
has not seen him since aud does not know
whether or not he has gone into insol-
vency.
1t has come OUT that Chairua Lucia has
accepted orders from the contractor in IA
vor OF certain parties with whom the con-
tractor was doing business in connection
with the new school building. Some of the
orders were accepted under conditions, one
under practically no conditions.
This fact has aroused considerable discus
to contract its work without bond and re.
serve certain per cent OF the price of the
work finished as the architec. rendered his
cestiticate.
is held by some that under the present
circumstances, il Hopkins x Son 90 into in
solvency the city will not only have to pay
the contractors the balance due them but
also pay the amount OF the orders accepted
by the committee to the parties in whose
favor they are drawn. II this theory is
true the city will have to pay about 50 500
twice. 1t is also held that TX the orders
were paid before the contractors entered
insolvency proceedings, the city would only
have to pay the difference bet cen che
amount of the orders and the balance due
| them
JOURNAL reporter and asked as to the out
look. He said he did not care TO specul ate
| upon the legal aspect OF the case He W uld
| leave that for the courts but no asserted
that the city would OF ha o to pay any
bill 8 connected with the building twice. He
said the committee would pay no more
money TO Hopkins & Son acd their credit
| ors until after the completion of the school
| building; then 1t WAS his opinion that tue
balance lett on the contract price would, IL
Hopkins kept oul OF bankruptcy, be dis
| tributed 10 the parties TO whom the orders
were drawn and in the order issued. He
said that he had not complete lisr OF Hop
| kins' creditors but that the Berlin mill ,
company OF Portland Me-, which furnished
the finish for The building, was the largest.
The orders accepted by Chairman Lucia
| and now unpaid are Is fOlows Drury
Brick aud Tile Company, Essex functions
| $500, given and accepted January IT. K.
Van Noorden & Company, Boston, 1928 for
metal work; gwen January 8, and accep ed
January IA. Murdock Parlor Crate Com
| pany, Boston, 1872 90; give January Is and
accept Jsdusry % ID. p. Clarke, Mont.
pelier, $3.50; given and accepted Januarg
| 81. These orders were accepted under
practically the same conditions, namely,
accepted, payable from funds due or to
become due, on completion of new school
building, or in settlement thereof"
There are two orders in favor of the Cap
ital Savings Bank aud Trust Company OF
this city OF $500 each, hut accepted under
di similar conditions. Tue first order wa,
given aud accepted Nov "a, 1862
The condition filed on this order provides
that IL is Accepted to be paid out of next
payment on controct for new school build
| ing after the one payable November o. 1880 >
This Is the order respecting which, it is
held, the condition is no condition. The st C
ond order was issued November 27 and ac-
cepted November 20, 1900, and the condi
tions are Accepted payable out OF funds
! due on contract for new school build
ing"
One of the officials admitted today thai
these orders were accepted by the bank AT
collateral to secure notes given the institu
tion by the contractors.
The last order is for S224,94, in favor of E
E. Davis OF this city, aud accepted without
condition three days after the contractors
announced they would give up work on h,
building
A gentleman from Attleboro, who wal
staying In town over Sunday, in speaking
OF the affair said he was surprised when b,
learned that Hopkins & Son had secured
the contract here, for he had never known
OF the fl m having any large 1ntract before
Chairman Lucia said that Hopkins told
him he had never taken such heavy con
tract before, his largest being a schoo
house az North Attleboro, which he bull
last year.
As yet there has been no meeting OF tn
school board held to determine what action
Il any, will DO taken In regard to these OF
ders.