Evening journal., 1907-02-20
NEWKIRK'S ACTION
IS DISAPPOINTING
1t Was Hoped That Diamond
State Steel Plant Would
Resume

The action Of John B. Newkirk, OF
Philadelphia, I'm 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
a bonifide deal, is a great disappoint-
ment to the merchants Of the city and
to the people living beyond Third
street bridge. 1t was hoped that the
new purchaser would work to the end
that the plant might soon resume oper-
ations, and an encouraging report to
this effect was freely circulated. Now
it seems that such a 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, it appearing to the
court from the record I'm this cause
that by the decree and order of sale
In this cause made and entered on the
twenty-hrst day Of September, 1906,
as modified and amended OH 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
by James p. Winchester and Howard
T. 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
b. Newkirk of the city Of Philadelphia,
State of Pennsylvania, on the eigh-
teenth day OF December. 1905. for the
sum Of FIVE hundred and seventy-five
thousand dollars Cs575,0O0). as appears
by the return Of said receivers filed
/ i'm this cause on the second day OF jan
uary, 1907: and it further appearing
| from the record that the said John b.
/ Newlxirk 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 (S57,500). being
ton percentum OF the purchase price
bid for the said property when the
same was struck Off; and It further
apearing from the record that the said
sum OF ffty-seven thousand five hum
dred dollars 1851, ,5O0) has been deposit
ei by the said receivers In the registry
Of this court TO be held subject to IFS
further order; and it 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-
ceivers OF the said property be APP
proved and that the said sale be con-
hrmed and made absolute. and that the
said receivers should be directed tc
convey and deliver to him as purchaser
the property so sold as aforesaid, upon
payment Of the balance Of the purchase
price in such manner as the court
should direct: and Il further appearing
from the record that pursuant to tho
prayer Of the said petition this court
on the nineteenth day Of January, 1907
on motion Of the solicitor Of the said
John B. Newkrk. ordered, adjudgec
and decreed that the said John b
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 (S5i7 50o) 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 hun
dred dollars (s51I500). unpaid balanc'
as aforesaid. 70 pay into the registry
of this court not less than the sum OF
ono hundred and sixty-seven thousand
five hundred dollars (S167,50O, as 9
further portion Of the said purchase
lprice, and simultaneously therewitf
10 execute and file with the clerk o.
this court a bond TO the United States
OF America in the sum OF four hundred
thousand dollars (s400. .00O). with twg
sureties. approved by the court viii
lcondition for the payment into th'
registry OF this court, when and as re-
auired by the order Of this court, OF Z
sum OF money which would be equiv
alsnt to the difference between TIT
amount OF money which should hSv'