The Barre daily times. (Barre, Vt.) 1897-1959, 1905-11-24
IA RECEIVER
IS ASKED
For the Milford, Mass, Pink
Granite Quarries Co.
NORCROSS IS CHARGED
Petitioners Are the Franklin Trust Co.,
Trustee Under Mortgage, and Vic
tor /. commock, New York
Stakeholder.
NORCROSS IS CHARGED

Boston, Nov. 24--In an intervening
petition in which he joins with the
Franklin sTrust Company of Brooklyn
n. Y, in its prayer for the appointment
of receiver by the United States cir
cult court, to take charge of the prop
erty Of the Milford Pink Granite quar-
ries at Milford, Mass, with authority
to continue the business, Victor ]. Com.
mock of New York, a director of the
company, alleges that Orlando w Nor
cross of Worcester, the well known build
er, contracted, in behalf of the Nor
cross Bros. Company, TO deliver to the
Pennsylvania, New York & Long Island
Railroad Company granite necessary fof
| its terminal for s1,425,o00, and that al
about the same time he executed a con
tract between the former company and
| the Milford Pink Granite quarries for
the same quantity of stone to be de-
livered at the same place for 81 ,254,450.
The difference is $4,000 in favor III
the contract between the Norcross Bros
Company and the railroad company. Mr.
Norcross is president Of both companies
BY reason of this contract, the petit.
toner saws, it became necessary for the
respondent corporation to enlarge its
plant and provide for more machinery
and tracks, with the result that the
assets, resources and credit have been
50 far depleted that the corporation is
now without resources to provide for
its assets or borrow from its credits suffi-
Gent money to pay the weekly pay rolls
| from time 10 time.
The intervening petitioner joins with
the original petitioner, the Franklin
Trust Company, in asserting that the re-
spondent company, the Milford Pink
Granite QuarTies, is entitled to the pro-
ceeds and profits from the contract be-
tween the Norcross Bros. Company and
the Philadelphia, Long Island & New
York Railroad Company.
The petitioner sets forth that he is
the owner Of 500 shares Of the stock az
the Milford Pink Granite Quarries and
was one Of the active forces in bringing
about the organization Of this corpora
ton, which has extensive interests in
the Milford quarries. John L. Hall APP
pears for him.
The suit Of the Franklin Trust Com.
pany Is against both the Milford Pink
Granite Quarries and Orlando w. Nor
cross. Appearance have been entered
Tor the respondents by Smith, Gage &
Dresser of Worcester
The matter Is likely to come up to-
day when counsel win make further
effort to secure the appointment Of a
receiver.
Mr.. O. w. Norcross Of the firm Of
Norcross Bros, and president Of the
Milford Pink Granite Quarries, was in
Worcester yesterday morning, where the
head offices OF tie Norcross Bros. Com
pany il located. At his Office nothing
could be learned as to the affairs OF the
Milford company, or whether receiver
ship would be necessary.
The petition for a receivership which
was filed Wednesday in the United
States circuit court named as respond
ents, besides the Milford Pink Quarries,
q. w. Noreross and the firm of Norcross
Bros.
It alleges that on March 20, 1905, In
consideration of mortgage for $780,
600, the Franklin Trust Company of
Brooklyn was made trustee OF the prop
erty of the corporation, also that accord
ing to the terms Of the agreement there
was an issue of mortgage bonds to the
amount Of the mortgage, the bonds be-
ing for $1,000 in United States gold coin
and with interest at per cent
1t is alleged that the company agreed
to keep in repair and maintain its va
rious properties and that the complain
ant believes that the respondent com
pany Is without sufficient cash capital,