News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1904-04-27
WRIT OF SEOUESTRATlON.
STATE OF VERMONT,
LAMOILLE COUNTY Deer Term 1903
COURT OF CHANCERY.
b. r. BLAKE

sThe New England Canadian Asbestos Com
pany, Francis K, Hathaway, James b.
Warning. Wallace l.. Wilcox. G. Frank
Allen, erjamln F. Riddell, Clarence D. In
grahm, Mmott A. Steel, c. S. Ramsey and
Fred l.. Smith.
WHEREAS, B. B. Blake of Eden in the County of
Lamollle and State of Vermont. has filed in the
Ofilce of the clerk of the Court of Chancery and
did cause the same to be entered on the docket
OF the Dec Term thereof, 1903, his Bill of Com
plant against the New England Canadian AS
bestos Company. a corporation organized and
existing under and by virtue of the laws of the
State of Maine. and owning and operating an
asbestos milling and mining plant at Eden, in
said County of Lamoille and Francis E.
Hathaway, James Warning, Wallace L. Will.
cox, and q. Frank Allen, all Of Fall River, in the
County OF Bristol and State of Massachusetts
arence B. Ingrahm of Hartford IN the County of
Hartford and state of Connecticut; Fred J..
Smith of Providence in the County of Providence
and State Of Rhode Island Benjamin f. Riddell
of said Fall River MinOt A. Steel of Ports
mouth IN the County of Newport and State of
Rhode Island and C. S Ramsey O.
in the State OF Massachusetts ard therein set.
ting forth in substance -
That the New England Canadian Asbestos
Company is a Corporation duly organized and
existing under the Jaws of the State of Maine,
with an authorized cap tai stock [ one and one
half million OF doll rs, divided into shares of the
par value of one dollar each. and there are at
least five hundred and twenty stockholders,
holding 397.39I shares of said stock that YOUR
orator owns three thousand shares of said
stock further that said corporation property
situated in the town of Eden in said County Of
Lamoille to the value of one hundred thousand
dollars, which saidprOperty consisted of valuable
real estate having large quantities of asbestos and
machinery for mining and milling the same.
And further setting forth that all of the men
above mentioned, excepting G. S. Ramsey, are
directors of the corporation, and said parties
are all non residents of this state, and G.. Frank
Allen is president Fred L. Smith is Treasurer
and Wallace L.. Wilcox is manager of said cor
pOration, and all the business OF said CORPORA
ion was under the control and management of
said board OF directors.
Further setting forth that on the 9th day of
March, 1903 all of said directors and said officers
of SAID corporation contriving and fraudulent
ly intending to get the control and title of all of
said property of said corporation located at said
| Eden into their power and hands and to fraudu-
| lent deprive said corporation and its stockhOld-
| er5 and creditors of said property assembled in
| The city of Providence and County of Providence
| and State of Rhode Island and then and there
SAID corporation by its said president and treas
urer duly executed and delivered to said Fran
| els Z. Hathaway, James IL. Warning, Wallace
L. Wilcox, &. Frank Allen, Clarence B. Ingram,
| and Fred L. Smith, all of whom were then and
there directors and officers as aforesaid of said
corporation, certain mortgage of all real
and estate, property of said corporation in said
| Eden. Said mortgage covering all of the real
| estate owned by said company in said town OF
| Eden. said mortgage was and is conditioned
as follows: The conditions of this deed are such
! that il the said corporation shall upon demand
| pay TO each OF said grantees his executors
| administrators, or assigns, all sums of money
which he shall have actually paid to. for or in
!
March, 1903, OF total sum not exceeding $4,000,
and also interest upon Zach sum from the date
OF loan or paymen at the rate OF ner cent. per
annum TO be compounded semi-annually then
this deed to be void, otherwise in force. 1t is
further provided that at the expiration of ten
days ter said written demand hts been made
for the payne of part of the debt specified
in the condition above written which part shall
amount to at least $1,000, and sad amount so
demanded shall not be paid as aforesaid the en-
tire amount then existing OF SAID indebtedness
| shall tDprpuDOn become dine and D9VHblp
And further setting forth that on said 9Th day
of March, 1903, at SAID Providence and as part
of the above transaction said corporation by its
said President and Treasurer executed and de-
livered to the same parties and Id addition said
Benjamin +. Riddell and said MnOt A. Steel all
of whom were then and there directors and off,
GERS of said corporation as aforesaid, certain
other mortgage of the same property and said
mortgage was to be subsequent to the eceed~
ing mortgage. The mortgage provided that all
property except the land and buildings should
be called personal property. The conditions of
this mortgage In substance is as follows: That
if said corporation should pay said grantees all
indebtedness VIII CHI iB might owe them by lea
son OF endorse ment or otherwise or in any other
manner whatsoever NOT eTceedIng $4,000, also
interest at per cent. ON each sum to be COM
pounded Seml-annuallv, also further provided as
In the last section of the first described mort
gage. And further setting Iortn thar on the 9th
uay of july 1908 at Eden aforesaid, all OF the
p Operty ., said corporation at said Eden eX
cept the lands and buildings thereon, was sold
by George E. Town deputy sheriff at public
auction, unuer said last banned mortgage as a
chattal IN Irlgag'. And at sad Shertf'S sale
one c. :. Ramsey purported 70 bid off property
to the amount of S455}. and Wallace l.. Wilcox,
property TO thu amount OF 1924, and others prop
erty to the amount of S3U3, total S5,OSO.SO.
That the due of all said property was at least
$4,000. turther SIT ing fourth that all of the
above transactions ar fraudulent on the part OF
said din &c tors, and that said Ramsey and said
Wilcox hav- not paid any money for the prop
erty so purchased by them.
And further setting forth that the grantees of
the first de Crib5d mo- tgage have brought their
petition to this Honorable Court to forcloSe their
mortgage amt have asked for short day of
redeml ii m, and your orator Will ask leave IN
behalf Of said cOrport tlOi and behalf OF HIM
self and all other stakeholder, to enter as
pa ty deendeht in said foreclosure suit to
answer the same setting out the facts herein
specified, and with the permission OF the c uTt
to file a cross bin, asking for affirmative relief,
and tnat the atUre aid mUItgs ges he declared
null and void ami that tue Same be Cancelled.
And further setting forth that.on the , tn uaY of
November, 10 3, writ OF Sc questration was
granted by W. r. stafford, Chancellor, whereby
all OF tn property OF the above corporation OF
every name and kind was seque tered and at
tached
And it being made to appear that the said
The New England Canadian Asbestos Company
Francis T. hathaway, James w. Warning,
Wallace l.. wilcox q. FRANK Allen, Benjamin
r. Riddell, Clarence ID. lrgrdhm, MinOt a. steel,
G. !. Ramsey ana FRED l.. Smith, are without
this State, 50 that citatI II cannot De served
upon them. Therefore, it is ordered by the
Court at The December Term, that notice of the
tendency of said writ OF sequestrati, n be given
them by publication of sub, lance thereof, togeth-
er with this order, In the NEWS AND CITIZEN, a
newspaper pup ished at Hyde PARK and Nor
risyille in the Cou ty of LamOile, three weeks
successfully, the last OF which publications to be
at least twenty days prior to tue first day OF the
next term of the Lamoille County Court of Chan
Gerry, to be held at Hyde Park, in the County
of Lamo1lle, on the first Tuesday oi June A.
ID. 1904, at which time the said The Eep England
Canadian Asbestos Company, Francis r Hath
away, James ii. WarriDg, Wallace Ii. Wilcox,
Il. Frank Allen, Benjamin f. Ridde Clarence
d. lngrahm, Mnott A. Steel, e. 5. Ramsey and
Fred l.. Smith, be ordered to appear and to
make full, true and perfect answer to all and
singular the matters and things set forth in the
foregoing bill of complaint OF B. 3. Blake and to
stand to, abide and perform che further order
and decree OF said court ia the premises.
Given under my hand at Hyde Park in the
County of LamOihe, this goth day, April, A. d.
1904. S. b. WAITE. Clerk.
W. E. TRACY,
r. w. HULBURD, Solicitors
j. W. REDMOND, y