The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1908-11-23
CIRCUIT COURT OF TIE UNIFIED STATES
DISTRICT OF VERMONT.
North Adams National Bank Von,,.
vs. ANNsI
North Pownal Manufacturing Co. } No a.
Deere Authorizing Receivers to Sell
the Property Of the North
POWnal MFG Co,


Deere Authorizing Receivers to Sell
the Property of the North
POwnal Mfg. Co.
This cause came on to be heard Oh the report
filed on October 10, 1903. by ADDISON K, Cud-
worth and Henry X Warner, Receivers here.
tOfOre appOlated In this cause, and upOn
the pc itIOn Of Tie Receivers that a decree
should be entered authorizing them 70 sell az
public suCuOn al the property and business Of
the North. pOwnal Manufacturing Company as
therein set firth ana 1t appearing that al per.
sons interested have been duly nOuned In az
cOrdance With the directions OF this Court aud
no one appearing n opposition hereto II IS, up
on motion OF counsel for the Receivers
ORDERED AD JUDGED aud DECRBBD
as tOllOws;-
!. The Receivers are hereby authorized and
directed 10 Offer for sale and 20 sell nc public
auctO. at such tine as the II, ceivers may de-
termine, subject 10 the following order As TO
publication and notice. at the County Court
House Of Bennington County IN the CITY OF
b .umugtOn, eTmOnt, ana a. one euut e
lot all The property OF the North POgnal
tate and interests IN real e,tate both legal ana
equI table. planti, bli diugs and water rights,
aud all machinery, equipment, supplies, raS
materials. stock IN process, finished goods, pat
enis, secret processes. nOtes and accounts re.
Ceiveable cont acts, orders shares OF stock aud
other securities good Will and all other per
sonal property OF the said Company and the
business as a going concern under the rame
North Pcwnal Manufacturing Company carrie
on by the Receivers, and al property and lights
Of Every nature real personal Or mixed. 10 the
hands or control of the said Receivers. except
ing however, carh ON baud aud cash dep 1sitS
held for OF claimed by the Receivers, provided
that the Receivers may In teeir discretion tx
ciude from such sale the claim of the North
POwnal Manufacturing Company filed With the
Receivers Oi The Arnold Print WorNs.
=. Notice OF such proposed SAFE shall be
given 20 all persons interested by publishing
notice Of the time and pace and conditions OF
such iale aud an aitested cops Of this decree
together with "a description OF the real estate TO
be sold, once a wees for at least fur (i) weeks
Tor 90 such sale In bennington Ban
ner newspaper published IN the City Of Ben.
nngtOn, Vermont aud by publishing notice Of
The time place and conditions OF such sale aud
q attested copy Of this order once week for
al least tOur ll weeks prior % such sale IN the
Bost Daily Advertisers newspaper publish. d
ln the City Of Boston. Massachusetts,, m the
North Adams Transcript newspaper pub
lished iu the CITY OF North Adams. Massachu-
,etts ana IN the Journal OF Commerce news
paper published 10 the city OF New York, New
York, aud by mailing copy hereof 20 all X own
creditors of the NOuh pOwnal Manufacturing
Company The Receivers may 10 their discrc-
tiOa adjourn or postpone such sale from time
TO time aud Without further notice or advertise
meut may proceed with such sale az the time
q # D
3. such sac shall be made subject 20 the
confirmation of th Court and 10 the terms and
cOndi IONS Oi this decree, and the said property
shall 100 no event be sold for less than one hun
drod AND hity thousand dollars lti510o0). No
bids shan be received al said sale unless the
bidder shall PRIOR % the open ne Of the sale de-
pOsit " 10 the Receivers subject 10 the urther
order OF This OOuri, cash or certified check
pay able % the Receivers or their order on some
National Bank VA the city Of Boston or IN the
CITY OF New York 10 the amount OF twenty i've
thousand dol AIS tlA. 0u) Any such deposit
made by an unsuccessful bidder shall be 70
turned 10 him by the Receivers az the close OF
! the sale. such deposit made by the successful
bidder shall bee retained by the Receivers sub
| ieCt tO the further order Of this Court ana i
| the sale shall not De confirmed such deposit
| shall DE returned 10 the deposition. IL upon AID
after the Confirmation OF the sale by the court
| the purchaser shall iail 10 pay the balance Of
/ the purchase price or In any respect tail W
/ comply with the terms and conditions Ot the
| sale, or with any orders ol the Court relative
| thert 10, such deposit, unless the Court shA
! Otherwise order shall be forfeited by the de-
/ po,lt1r and shall be retained by the Receivers
/ as assets OF the North rOwnal Manufacturing
! Company anu the Receivers shall thereafter BE-
discharged OF all obngauoHs 10 the depOsitoI
| hs representative or assigns With references
/ thereto, but u the purchaser shall comply VIII
an sucn terms ana conditions OF the sale and
| orders Of Court relative thereto. such deposit
! shall Je credited as part payment OF tue pur
| chase price upon dual adjustment wHSsuc
/ purchaser Any purchaser who may be en-
| Titled To receive any payments under any order
| OF distribution which may be made In I'M.
cause shall be entitled 10 have the amounts Of
| such payments applied on account ui She put
! chase Ice boz such manner as This Court may
] determine upon confirmation OF the sale, pro
/ yided however that any purchaser mus on OF
| before the date when transfer OF tile Is Effected
nay 10 cash 90 the receivers such portion OF N,
| pur,hus" price rs the Court may order 10 b,
/ idrhtc, nr,s outstanding, the compensation OF
| he Receiver. their counsel fees. accountant
| I ~ or other expenses nf administration. IN,
! Court reserves Tue right On reject ani aud al
| bids aud authorizes Tie Receivers 70 make snct
uihc terms and conditions OF sale not lncou
/ slsient herewith as IN their discretion may
seem wise aud prudent.
I sud property shall be sold subject 20 anJ
and nll lepe Tor unpaid taxes sud assessments
90 every nature aud subject 20 AL other charfe'
liens and eucumbfances thereon, v any, whIcl
may be outstanding ut The time when transfer
of title Is effected. neither tue same utlstet
! 30 the time when a RecyiVer MAS appointed "a
/ this caIsC or have urlsun thereafter, and alst
subject to al outstanding contacts liabilities
aud obligations NJ tho Receivers. aud the par
| chaser shall assume and covenant and Arfee q
perform the same uud 10 idemniiy and save
/ harmless the Receivers thrrrirum, and said
| property sual Dc charged herewith aud VIII
said covenant and Rgrecment and The deed u
| conveyance shall establish such lien AM
charge Tor the performance OF such obligation
| auu iur The protection OF the hpceNefs IN suct
manner aud torn aud 10 such extent aud iol
such time AZ the Court may hereafter deter
mine.
81 rhe Receivers shilI continue ia the pos
/ session control and management % said prop
pfty and may continue The business ~ thi
/ North poWna' Manufacturing Company 10 sucl
| extent AZ they deUm advisable until iufthel
| order ut this Court relative thereto and MAJ
use the cash ln thclf hands executed from th'
sale AS aforesaid AZ well AZ any other mune'
/ which mas be receive by them, and Apply hl
| same 90 the expenses 81 thu business aud man
/ a cement and prot elton 90 the property aud u
The performance Of ihelf obtgailnns uhethe
/ already or hereafter Incurred. The said prop
| erty aud business shall be conveyed aud trans
| ierred as they stand on the date when uanstc
| Of title is effected and an Adjustment shal
ihercupon be- made whereby any Excess VI mune'
received by The Receivers after the da1 OF SAT-
| sale other than ptYmenn on aecount on tll
purchase price. ever and shove ne n1asI 81