The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1904-05-17
.DEED0F TRUST
FOR Sl6U,0OO.
FILED BY THE DANNEMlL-
lERS & co. OF CANTON.
Individual and Company
Property Given Up.
GOLD BEARING BONDS

Carrying Per Gent interest are Vs.
sued for tho Amoupt--Looal Com
pany Is not Affected In Any Way.
Homo Of Augustus Dannemiller ls
the Only Property Reserved.
A deed of trust and mortgage for
100000 was fled at the county re-
corder's Office yesterday by which the
Dannemiller & Co., and the individual
members of the company, turn over
all their property to Austin Lynch,
trustee, to be held as security for the
payment of trust bonds that are to be
issued in order to secure money to IL
quldate the debts of the said company,
amounting originally to over 100000,
but which have been compromised by
agreement with the creditors so that
the amount to be realized upon the
bonds will settle all claims, the ratio
being reported to be about AZ IL cents
on the dollar.
The deed of trust states that the
company is composed Of William Dan.
nemiller, Augustus Dannemiller, Julius
Dannemiller, of Canton, and Edward
Dannemiiler, of Brooklyn, N. Y. The
company is the Brooklyn concern and
has no connection with the Dannemil.
ler Grocery company of Canton except
that certain shares held by the ,Danne-
millers are turned over to the trustee
as part of the security. .,,
The deed sets forth the fact that 1t
was necessary to raise funds for the
liquidation of the. affairs of the CO.
partnership and that they borrow
100000 by issuing their bonds aggre.
eating that amount to be secured by
a deed of trust upon all the real es.
tate of the company and upon all the
real estate of the individual members
of the copartnership except the home
of Augustus Dannemiller, and Glso GER
tain stocks and bonds held by them.
The bond issue consists of % bonds
Of $500 each which are designated as
series A, and are preferred bonds; al
bO OV DOhub VI PlIVOO tdCl, de
series B, which are secondary to the
first. They are to be known as Dame.
miller Co. bonds, are first mortgage,
gold bearing and the interest rate is 6
per cent. The right to redeem Ia re-
served on the first day or February,
May, August and November Of each
year even before maturity.
he IAIn k~
bonds Includes 735 shares OF stock in
the Dannemiller Grocery company of
Canton, 10 shares of First National
bank stock valued at 800 per share;
so shares of Stark Telephone COM
pany stock Of 800 each; also ten
bonds of $500 each of said telephone
company: two tracts of land In the
city Of Brooklyn; all of lot 4148 in
Canton; acres of land and the build
ing thereon on South Cherry street;
ga Of lot No. 1 on East Tuscarawas
3D. Of lot No on Piedmont street;
"a of 100 acres of land In Stark coun-
ty; 3-4 of 30 acres of land In Wayne
county; three-fourths interest in
large number Of lots and outlots In the
city; two-third interest in 81 lots
in the Dannemiller addition; and varI-
GUS other lots and parcels of land in
Canton.
The bonds fall due May 1, 1906,
and they are all made lien upon the
property thus surrendered except that
the lien Of the first series of bonds
Is superior to that of the second, they
being held to secure preferred claims.
The Dannenillers agree to pay the
taxes and keep the buildings insured
for an amount aggregating not less
than $4,000. In case of default I'm
carrying out the provisions of the deed
OF trust, the mortgage is to be fore
closed and the property sold.
The deed was acknowledged by Jo-
seph NJ Blake, notary public of Can
ton, and o. M. HOxie, commissioner
OF deeds OF Kings county, N. Y.
Austin Lynch, who Is made trustee
and who will hold all the property.
iB the senior member of the firm Of
Lynch. Day 8 Day, and has been at.
tornsy for the Dannemillers ever since
the financial trouble began.
II Is expected that the property can
be realized ON from time to time and
sold so as to fully redeem the bonds
when they are due.