The Paducah sun. [volume] (Paducah, Ky.) 1898-1906, 1905-06-24
Another Body Blow for the
Home Purchasing Co.
The Court Also Decided That the Re-
cent Assignment Was Null and
Void.
CASE BECOMING COMPLICATED.

Circuit Judge w. NJ. Reed this
morning In circuit court announced
that he would appoint a receiver for
the Home Purchasing company, but
did not state whom It will be, or
when he will make the appointment.
He also decided that the assign
ment made by the company few
days ago was null and void, both of
which decisions are victories for the
contract holders.
II is said that Mr.. r. G. Rudolph
will be appointed and that Attorney
Cecil Reed may be appointed to act
Jointly with Mr.. Rudolph.
Attorney Cecil Reed was named as
assign ee in the assignment deed FL
ed day before yesterday In county
court.
The suit asking for the appoint
ment of a receiver was brought sew
eral days ago by Attorneys Crice and
Ross for several contract holders in
the company.
Following this suit the company
sold its contract rights to a Lexing-
ton concern, and on the following
day filed a deed of assignment nam
ing Attorney Cecil Reed as assignee.
Judge Reed in his opinion this
morning stated that so per cent. of
the funds paid in were to go into a
reserve fund to be held in trust for
the redemption of the contracts. and
could not be assigned. therefore the
deed of assignment was null and
void. He stated he had decided to
appoint receiver which he would do
at his earliest convenience.
Attorneys Wheeler, Hughes & Ber-
ry, and Taylor and Lucas, stated that
they intended taking an appeal from
the decision at an early date.
In connection with the Home Pur-
chasing case II is understood that
II. II. Loving, formerly of Paducah.
but now of Atlanta. and J. S. Bor-
deaux, of the city, have been war
ranted at Atlanta for alleged failure
to deposit $4,000 bond required of
all investment companies but the
trial there has not yet taken place
There is now an attorney here from
Atlanta working on the Home Pur-
chasing case at this end of the line,
and he is said to have asserted today
that he expected to land several peo-
pie in the penitentsary before he gets
through.
One story that is told is that some
of the main men in the scheme who
conceived IL. partly executed 1t, and
got about everything there was out
of 1t. unloaded on innocent people
and left them with the bag to hold,
In other words, IL is claimed that
some of those now in the company
were grossly deceived into becoming
identified with it. while others pulled
out and took with them all there was
to take. This, however. is a
mere rumor. II is reported that at
least a few prosecutions will develop
in few days.
A unique point in connection with
the motion for receiver was brought
to light this morning prior to the de-
cision rendered by Judge Reed.
A suit had been filed by Cecil
Reed. as assignee of the Home Pur-
chasing Co.. to attempts to restrain
the court from acting in the receiver
motion.
The motion of Injunction was issu-
ed by the clerk and served In person
on Judge Reed who waived II aside.
saying that the clerk had no power
TO issue an injunction order to re
strain him from acting In any case.
He then went ahead and rendered
his decision.