Omaha daily bee., 1906-05-09
RECEIVER FOR SUGAR PLANT
Trustee Appointed by Court for Stan dard
Beet Company at Leavitt,
OLD COLONY TRUST At BOSTON ASKS IT
Wtlltam ". Ferguson OF Lincoln u
Federal Courrs OfHcer and W.
ID. McHuEb OF Omaha
His solicitor.


Upon application Of the OLD Colony Trust
onpsny OF Boston. Judge Munger Of the
deral court Tuesday appointed a receiver
The Standard Beet Sugar company
.it headquarters at Ames and a large
ut.at Leavitt, Neb. William II. Fergu-
OF Lincoln was made receiver and w.
McHugh OF Omaha solicitor for the
ceivef. The latters bond was fixed at
1000 He was ordered TO assume inn
odiste charge OF the plant all its assets
d property
'Ar application fdr tho receivcrship was
dc in a suit brought against tile STAN
% Beet Sugar company in the United
circuit court through the plaintiffs
''itor Harry p. Ieavitt and Thomas
Perkins Of COUNSEL.
The petition alleges tina the defendants
have practically abandoned the plant and
its business at Leavitt. and If allowed to
Gontiuue-in possession aud control. no beets
. viii be raised for the use Of the factory
during the current year, and that the
business win be lost and abandoned and
the value Of the property practically de-
stroyed' but that by the appointment of a
receiver arrangements can be made for
beet acreage, and that the plant can be
operated at a p.oht.
creditors Threaten Action.
The petition further states that the credi-
tors o., the Standard Beet Sugar company
whose claims are unpaid threaten to in
stitute proceedings by attachment and
otherwise, which will separate aud dis
integrate The property. etc. The petition
then goes on further to give a statement
Of the indebtedness in detail and asks
that the defendants be precluded and fore
stalled of and from any equity of re-
demption in the premises in question and
that the plaintiffs be granted the neces-
ssry relief in that the plaintiffs may be
secured in the operation of the plant and
thereby be enabled to pay the just claims
against it.
The plaintiffs allege they have a mortgage
claim against the property and plant ap-
proximating a large amount OF money.
which claim would he mperiled by the
abandonment of the plant and property and
FOR THIS reason the rcceivership is asked.
Statement by Leavitt.
Hayward G.. Leavitt, president of tile
l.eavitt plant said Tuesday morning.
The plant has been established about six
years and was built at a cost Of 81. 277,OoO,
exclusive of the land, and wac bonded for
over hall million dollars. There is $500, 900
preferred stock and $4,000 common stock.
beets per day equaling 10000 pounds OF
sugar per day. Its original capacity was
for 800 tons of beets per day and has since
been increased to its present capacity. II
vas operated last year at an expense OF
SEQ 900, 5000 tons of beets were worked up
from which 1896 pounds Of graduated sugar
:. were obtained per ton of beets, against 2C
pounds of sugar per ton of beets the year
before. Eighty per cent of the crop of beets
Is now derived from irrigated lands and for
the first time in the history OF the plant the
beets last year failed to ripen and mature
Ia Nebraska. Utah and Colorado because
Of the weather in the fall being warm. moist
and cloudy, instead Of bright and cool. un-
der which latter conditions TIE 'beets best
ripen and mature. Hence the output fol
" the year 1895 was Approximately Is per cent
less than the previous year.
To Save the Plant.
The appointment OF a receiver has beer
asked 10 conserve the property for the bene
MT Of the creditors, to insure the continu
ance of the plant in operation and to secur,
to tho farmers payment for their beet
grown and delivered this year. BY the ap
rointment Of the receiver at this time III,
perpetuity of the plant is assured and tn,
farmers will be paid for their beets and tn,
plant continue in operation. Tt is necessar!
that this he done at this time, the perioC
is now at hand for planting beets ana an!
delay would be fatal.
The receiver can issue receivers certifi
Gates for beets and work which take prece
dencs ahead Of the claims or the bon,
holders!
The plant paid out last year for labo
and supplies t27O,OOO; for beets $4,000 an
for freight sl52,OOO The factory has bee
operated 1T only about 20 per cent Of II
capacity. Tho amount of granulated suga
sold was 100000 pounds, and In a norma
year the fun capacity OF the plant woul
be about 9oOOoOCO pounds OF granuiate
sugar"