The Montgomery advertiser., 1906-03-22
ORDER FROM COURT
POWER OF RECEIVER c. A. STILL
 MAN IS MODIFIED.
No Money Is To ne Borrowed On AccOunt of Lookout Mountain Iron Comnany.--0ther News Of
 Courts.


 James and Company and other credi- tors Of the Lookout Mountain Iron Company in the united States Court, Southern Division of the Northern Dis- trfct of Alabama, Judge Thomas c. Jones yesterday issued an injunction restraining the receiver formerly ap- pointed for this corporation in certain of the powers formerly allowed him.
 By this injunction. the receiver is prohibited from borrowing mone and from issuing or negotiating receivers certificates, except those for which cash has already been received. and from making certain Improvements on the property of the defunct iron com pany, and from selling or disposinR of this property until otherwise ordered by the court.
 Sometime ago, ]. c. Batteile and other creditors. petitioned for a receiv- er for the Lookout Mountain Iron Com pany. Charles A. Stillman of Birming- ham. was later appointed receiver. On Monday, the parties represented by James and Company petitioned that the receiver appointed be restrained in his powers, urging. that If be per- mItted 4o exercise those powers. the unsecured creditors would suffer loss thereby. The text of Judge Jones's order granting the injunction follows:
 Tn the District Court of the United states for the Southern Division of the Northern District of Alabama.
 Tn the matter of the Lookout Mountain Iron Company, In Bankrupt cy.
 to bc creditors of said Lookout Mount ain Iron Company. having on the 18th day of March, 1906, filed their petition herein alleging that said Lookout Mountain Iron Company has committed an act of bankruptry, ana praying for an adjudication of bankruptcy thereon, as more fully appears from said peti- ton and amended petition, and the said creditors having prayed for receiver herein alleging that the same is neces- sary 10 preserve the rights of creditors, and among other things, that the re- ceIver appointed by the United States Circuit Court for the Southern Divis- ion of the Northren District of Ala bama, in the case Of J. c. BattelIe. and others against the Lookout Mountain Iron Company, was appointed on bill which is collusive. and that the power conferred upon the receiver appointed in said cause, if allowed to be executed, will result in great hardship and loss to the unsecured creditors.
 And whereas, the court is not now fully advised as to the exact conditions of the property. or what is necessary to conserve the same. as provided in tho order appointing said receiver and has set down the hearing Of the petition for a receiver in this bankruptcy proceed ing for Wednesday the 2sth day of March 1908, at 12 M. at Montgomery. Alabama, the court Is of the opinion that the receiver heretofore appointed should be restrained and prohibited in the exercise of the powers conferred upon him in the order appointing him in the particulars hereinafter named, and.
 Tt is thereupon, ordered. adjudged and decreed that Charles A. Stillman, the receiver heretofore appointed in the equity suit mentioned. be. and he Is hereby, restrained and enjoined and prohibited from borrowing any money. and from issuing or negotiating any Receivers Certificates, except in eases where he has already received the cash for said certificates before notice of this order. In which event he may ex- ecute and deliver the certificate. and he is further enJoined and restrained until the further orders of the court. from making any repairs or improve nients upon the blast furnace; and he Is further restrained and enjoined from selling or disposing of any of the prop erty which came into his possession as receiver. until the further order of the