Evening journal., 1907-02-20
NEWKIRK'S ACTION
IS DISAPPOINTING
II Was Hoped That Diamond
State Steel Plant Would
Resume

The action Of John b. Newkirk. Of
Philadelphia, in failing to comply with
the order OF Judge Edward G. Brad
ford In the United States Court, which
would have made the sale Of the plant
Of the Diamond state Steel Company
bonifde deal is a great disappoint-
ment to the merchants Of the city and
to the people living beyond Third
street bridge. It was hoped that the
new purchaser would work to the end
that the plant might soon resume oper-
ations, and an encoura ging report to
this effect was freely circulated. Now
1t seems that such thing will not
come to pass for an Indefinite period,
as the settlement OF the defunct COM
pany's affairs appear to be as far off
as ever
Judge Bradford's decree in the case
follows:
And now, to wit. this nineteenth day
OF February, 1907, 1t appearing to the
court from the record IN this cause
that BY the decree and order OF sale
n this cause made and entered on the
twenty-first day Of September, 1906,
as modified and amended on the eigh-
teenth day Of October and the seven
teenth day Of December 1906, certain
pieces or parcels OF land, with the roll
ing mills, machine shops and other
buildings thereon erected, and all Of
the machinery and fixtures connected
Herewith, constituting the plant Of the
Diamond State steel Comapny, were
directed to be sold at public auction
a 4
7. wallace. receivers heretofore ap-
pointed inthis cause. and that the said
property. constituting the said plant
was, pursuant to the said. decree and
order Of sale, as modified and amend
ed, sold by the said receivers to John
r. NewSirk. of the city OF Philadelphia,
State of Pennsylvania. on the elgh-
teenth day OF December. 1906, for the
sum Of FIVE hundred and seventy-five
thousand dollars (s575,0O0), as appears
by the return Of said receivers filed
in this cause on the second day Of jan
uary. 1907: and it further appearing
from the record that the said John r.
NewlSirk has paid to the said receivers
on account Of the purchase price of the
above mentioned property, SO sold as
aforesaid the sum OF fifty-seven thous
and five hundreddollars Cs57.500). being
ten percentum Of the purchase price
bid for the said property when the
same was struck on; and It further
appearing from the record that the said
sum Of ffty-seven thousand five hum
dred dollars 1857 5000 has been Deposit
ed by the said receivers in the registry
Of this court 10 be held subject to its
further order; and II further appearing
from the record that the said John B.
Newkirk presented his petition to this
court on the sixteenth day Of January,
1907. praying, among other things, that
| the return Of the sale of the said re-
oeivers of the said property be ap-
proved and that the said sale be con-
firmed and made absolute. and that the
said receivers should be directed TO
convey and deliver TO him as purchaser
tho property so sold as aforesaid, upon
payment OF the balance OF the purchase
price I'm such manner as the court
should direct; and IL further appearing
from the record that pursuant TO the
prayer Of the said petition this court,
on the nineteenth day OF January, 1907,
on motion of the solicitor OF the said
John B. Newkirk, ordered, adjudged
and decreed that the said John p.
Newkirk should within thirty days
next thereafter pay into the registry
OF this court the sum Of five hundred
and seventeen thousand five hundred
dollars (s517.500). being the unpaid bal
ance in full Of the said purchase price;
provided. that the said John b. New
Kirk should have the right, within
said period Of thirty days II he should
so desire and elect, in lieu OF making
payment OF the said sum OF five hum
dred and seventeen thousand five hum
dred dollars ls5l7,5 5000. unpaid balance
as aforesaid. to pay into the registry
of this court not less than the sum OF
lone hundred and sixty-seven thousand
Ave hundred dollars (s1s7, ,5o0). as a
further portion OF the said purchase
price, ana simultaneously Herewith
to execute and file with the clerk OF
this court a bond TO the United States
Of america in the sum OF four hundred
thousand dollars tsiOO. bOO. with twu
sureties. approved by the court. with
condition for the payment into the
registry OF this court. when and as re-
quired by the order Of this court. OF n
sum Of money which would be equiv
alent to the difference between the
amount Of money which should have