New-York tribune., 1907-12-04
EXPOSITION RECEIVER.
Dis.rtct Judge Will Hear Appi'ca-
tiou IT Nrorfol5s. Tc.. Today.

Norfolk. ra. Dec. - decree siS'ieo pS
United States District Judge Waddii was en-
,sros an the federal court here to-day directing
.u ,,ar+ies in interest to appear before MN III
Norfolk tomorrow to hear the application Tor 4
,ecaiver fo- the jamestown Exposition Coii-
1any made by the Con =. Curran trlhllNs Coii-
ranv. Of St Louis. a judgmenl creditor I"'
s2l 273. who is suing in equity in behah OF II
rnlr and all other creditors Of the eNposItio"
similarly situated
The plaintiff alleges that Jonn M"hh' oiie VI
the exposition construction contractors also
t,inp for 2 receivers,ip. is no; Judgment cred
itor and that the court Is without JuIls'''c''"i1
20 appoint a receiver T.. the Monk action. ana
asks :, dismissal Of this and the consolidation o.
Yu litigation Of every description against the
jamestown Exposition Company or trusts Gre
ared in connection thercvitli int" one case and
that a receiver be named % take charge anu
manage the affairs Of the company tor the pres
ervation Of its valuable assets as whole.
The court is petitioned 10 provide a proper
rnethod for the raising of funds necessary Tor
the conduct of the receiyership, and the raising
OF these funds 10y The issuance of receivers
certificates is suggested in the answer fled To
aa,, Inv exposition officials in connection with
the Monk case. This answer is filed by o -
Ratchelder and T. J. Wood. trustees under the
Of all creditors whose claims follow those Of the
original $4,000 first mortgage bond issue
aTessrs. Batchelder and Wool. trustees, ask that
The answer be treated a a cross bill and sllS-
eest the importance of a receiVershlp uhds'
present conditions.
The exposition company, answering the MoHh
suit asks dismissal but petitions the court 20
so modify the optional contracts for the sites of
state buildings etc. requiring that fheN must
he taken Up within ninety days after the close
of the exposition so that those holding contracts
for the sites VIII not he required to act until
they are offered good and certain deeds slNen
under the direction of the court
The Curran suit citing the fact that many of
1be building sites upon which state buildings
and others stand given in the form of optional
contracts were not properly recorded untii
after the SIeo.eo0 first mortgage and the sec
.,ud mortgage for the benefit of ali creditors as
we'll as many judgments and mechanic liens
were placed on record. calls attention TO the I'M
rortance of the consolidation Of the entire htl-
-ation I'm one general cause so that matters Of
every kind can be dealt with and disposed OF
with equity to all The suit calls for close
collection of all DELINQUENT exposition stock sub
crintions for the benefit of the general creditors
The bill fled III the Ctrran application for a
receiver suggests approval Of pending negotia-
ton with the mechanics and supply lien holders
l,y which il is purposed to have these lien hold
ers accent 80 per cent Of their claims, amount
ing TO s225. 600 in first mortgage bonds Of the
exnosition company, in consideration of which
the said lien holders will give the entire S4otoD
lpond issue precedence over their remaining lien
claims This the Curran bill declares to be a
course desirable and beneficial to all
President Tucker Of the exposition company,
when asked for statement in regard TO the
contemplated receivershp. said:
while ] know nothing of the matter in detail.
pres1me it is likely that a receiver will be
appoirted The appointment, however, of a re-
ceiver would in affect the question OF
reoDening the exposition next year-that is, the
receiver under court instruction might be able
20 either operate the exposition next summer
or lease it for such purpose for the benefit OF
t1l, creditors That is all, however, matter for
subsequent determination.
Announcement Is made that the Rhode Island
Kentucky and Missouri state buildings have
l,eln sold but purchasers holding off in clos
ing the deal until the exposition company can
clear the land titles. Judge Blodgett, president
Of tho Rhode Island Commission, has bought
the Rhode Island Building for $500 1t cost
$500 The Hampton Roads Land Company
has purchased the Kentucky Building, consider
alton not given. The name of the purchaser
of the Missouri Building has been withheld. Of
fers have been received for other buildings
known 20 be for sale