Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-08-24
Wyoming Man Buys the Assets
Of the Cattle CompanyWhich
Failed at Dow City
SOME DIVIDENDS TO BE PAID
Failure of the Dow City Exchange
Bank and Green Cattle Company
Was Sensational one-The Property
Brought $4,000 and Included Ranch
and Cattle.
Special to Times-Republican.

Special to Times-Republfcan.
Council Bluffs, Aug. 24,-M. Il. Par
sons, receiver for the Green Cattle
company, yesterday morning sold the
remaining assets Of the company, In
Guiding several thousand head of stock
and the ranch property, located at
Dixon, Wyo, to Ora Haley, of Lara
mic, Wyo.. for $71,000. The sale took
place in the office of the clerk of the
United States court In the federal
building and was approved by W. $.
Mayne, who was some time ago APP
pointed by Judge Smith Mcpherson as
special master for the sale.
There were but two bids presented
for the property, that of Mr.. Haley and
another from L. G. Gould. a ranchman
of western Nebraska, offering $4,000.
According to the order approving the
sale, the money must be paid within
ten days, and upon payment Mr.. Par
sons is Instructed to turn the ranch, Its
equipment and it's stock over to Mr..
Haley.
Filed Objections.
Immediately following the sale Lois
G.. Stuart of Audubon and the State
bank OF Chicago filed objections to the
APPROVAL of the sale. Louis G. Stuart
is a creditor of the defunct company to
the extent of $42,964.0S, while the
State bank of Chicago, which first In
stituted the suit, is creditor for s10,-
539.43. The grounds for the objection
are practically the same In each case
and are based upon the alleged fact
that the receiver, previous to making
the sale, did not take an accurate in
ventory of the assets Of the company.
There being no inventory, each party
alleges that it will be impossible to APP
portion to the creditors of the COM
pany generally and to themselves In
particular their just proportion of the
proceeds Of the sale. The parties MAX
Ing objections, however, state that they
are satisfied with the result Of the sale
and that their objections are present.
ed simply to guard their own interests,
in case legal complications should arise
later in connection with the disposal Of
the property.
Failure in 1904.
The failure of the Green Cattle Com
pany was brought about by the failure
of H. S. Green, banker of Dow City,
This failure took place during the lat
ter part of January, 1904. With Mr.,
Green in the cattle venture were Judge
w. r. Green of Audubon, brother OF
H. S., and several others. Practically
all Of the paper of the Green Cattle
Company was made payable to III. s.
Green and in the course of his banking
business this had been put up as col
lateral security with many creditors.
The question as to whether or not
the assets Of the Green Cattle Com
pany should be used to help pay the
indebtedness of II. S. Green was set
tied in the federal court by Judge Smith
Mcpherson several months ago. The or
der for the sale and application of
the proceeds to the payment of Green's
personal debts was made at that time.
: The affairs of the Green estate are in
such condition, 1t is stated, that there is
little likelihood of the shareholders in
the cattle company realizing any part
of the proceeds of the sale for the en-
tire amount to be used in settlement Of
the Green estate first and the balance.
II there is anything left is to be turned
back to the shareholders Of the COM
pany. The total Indebtedness Of the
Green Cattle Company is estimated to
be between $250,000 and 100000, while
the proceeds from the previous sales
of stock and the final disposition of
the ranch and the remaining stofli
yesterday will be approximately $175,-
600.