The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1908-11-16
CIRCUIT COURT OF TIE UNITED STATES
DIsTRIOT OF VERMONT.

North Adams National Bank r.,t,r
North Pownal Manufacturing Co. No'n'
Decree Authorizing Receivers to Sell
the Property Of the North
POWnal Mig. Co.
This cause came on to be heard on the report
hled on october 10, 1908. by Addison K. Cud-
worth and Henry X Warner, Receivers here.
the petition Of the Receivers that q decree
should be entered authorizing them 70 sell a.
public auction al the property and business OF
the NOrthsPOwnal Manufacturing Company as
therein set forth and II appearing that all per.
sons interested have been duly notified In ac-
cordance with the directions OF this Court and
no one appearing In opposition hereto It -, up
on motion Of counsel for the Receivers
ORDERED ADJUDGEO aud DECREED
as f0llOws:-
I. The Receivers are hereby authorized and
directed 20 offer for sale and 90 sell at public
auction az such time as the RI cetVers may de-
termine subject TO the following order rs 10
publication and notice, at the County Court
House Of Bennington County In the CITY OF
Bennington, Vermont, and as one entire
lot all the property OF the North POWnal
Manuiacturlng Company including oil real es-
tate and interests Ia real estate both legal and
equitable, plants, buildings and water rights,
and all machinery, equipment, supplies, raw
materials, stock In process, hnlshed goods, pat
EMS secret NlNDNdaElt uubdo GuQ IG-
ceiveable contracts, orders. shares OF stock and
other securities good Will and all other per
sOnal property Of the said Company, and the
business rs a going concern under the name
North Pcwnal Manufacturing Company carried
on by the Receivers, and al property aud rights
Of every nature real personal or mixed. IN the
hands or control Of the said Receivers except
ing however, carh on hand and cash deposits
held for or claimed by the RecelYera, provided
that the Receivers may In their discretion ex-
clude from such sale the claim OF the North
PowuAl Manufacturing Company filed with the
Receivers VI the Arnold Print Works.
2. Notice OF such proposed sale shall be
given TO all persons Interested by publishing
notice OF the time and place and conditions OF
such sale and an attested copy Of this decree
together with description OF the real estate TO
be sold, once a week for atleast four "a weeks
Tor TO such sale In Bennington BAN
ner a newspaper published In the City Of Ben.
nlngtOn, Vermont and by publishing notice OF
the time, place and conditions OF such sale and
an attested copy OF this order once week for
at least four (4) weeks prior to such sale N the
Boston Daily Advertiser newspaper published
in the City of Boston, Massachusetts, IN the
North Adams Transcript newspaper pub
lished In the City OF North Adams, Massachu-
sets. and In the Journal OF Commerce news
paper published In the City OF New York, New
York, and by mailing copy hereof 10 al known
creditors OF the North POWnal Manufacturing
Company. The receivers may 10 their disGrc-
! tiOn adjourn or postpone such sale from time
to time and without further notice or advertise
ment may proceed with such sale az the time
10 which itmay have en- adjourned.
| g. such sale shall be made subject 10 the
confirmation OF this Court and 70 the terms aud
conditions Of this decree, and the said property
/ shall In no event be sold for less than one hun
cred AVID hfty thousand dollars tl50OOo). No
| bids shah be received at said sale unless the
bidder shall prior ~ the open ng OF the sale de-
posit " tn the Receivers, subject 10 the urther
order OF this Court, cash or a certihed check
payable TO the Receivers orthelr order on some
| National Bank In the City Of Boston or In the
! City Of New York 10 the amount OF twenty i've
| thousand dollars (s25,00J) Any such deposit
made by an unsuccessful bidder shah be TO
turned 60 him by the Receivers ~ the close OF
| the sale such deposit made By the successful
| bidder shall be retained by the Receivers sub
! leet TO the further order OF this Court and u
/ the sale shall not be confirmed such deposit
shall be returned 10 the deposition. II upon and
I after the confirmation OF the sale by the Court
| the purchaser shall fail 10 pay the balance OF
the purchase price OF IN any respect fail 70
comply with the terms and conditions OF the
sale, or with any orders Of the Court relatYe
their TO- such deposit. unless the Court Shall
otherwise order shall be forfeited by the de-
positor and shall be retained by the Receivers
| as assets OF the North POwnal Manufacturing
| Company and the Receivers shall thereafter De
discharged OF all obligations 70 the deposit0r
his representatives or assigns with refefencr
thereto. but Il the purchaser shall comply with
all such terms aud conditions OF the sale ana
orders Of Court relative thereto such deposit
| shall oe credited as part payment OF the pur-
| chase price upon final adjustment with such
purchaser. Any purchaser who mas be en-.
Titled 70 receive any payments under any order
OF distribution which may be made In THIS
cause shall be entitled 10 have the amounts oil
such payments applied on account OF the pnr'
chase pice in such manner as this Iourt may
determine upon confirmation OF the sale, pro
yided however that any purchaser must on OF
before the date when transfer OF tile Is enected
pay 10 cash 70 the receivers such portion OF TIT
i rtrfaa na the fiUmrf mi order To lIf
app led 10 payment OF Receivers certificates ol
Indebtedness outstanding. the compensation 81
he Receivers their counsel fees. accountant
fees NJ other expenses OF ADMINISTRATION. Iht
Court reserves the right 10 reject anv and al
bids and authorizes the Receivers 20 make sucf
Other teruls ana conditions OF sale not ineOn
sistent herewith as IN their discretion may
seem wise aud prudent.
4. SAID property shall be sold subject 90 any
and all lieus for unpaid taxes and assessment
of every nature aud subject 20 all other charges
liens and encumbfances thereon, II any, which
may be outstanding az the time when transfer
% Title Is effected whether tine same existed
~ the time when Receiver was appointed II
this cause OF have arisen thereafter and ais,
subject to all outstanding contracts liabilities
ana Obligations Of the Receivers. and the pur
chaser shall assume and covenant and agree u
perform the same and TO idemnliy and saw
harmless the Receivers thcrefrom. aud sad
property snall be charged herewith and VIII
said covenant and Agrrement and the deed o
conveyance SNAIL t1hANliHn oNN0 AltA aAl
charge for the performance OF such obligation,
and FOR the projection " the Receivers IN snel
manner and iOim and ID such extent Ano 10
such time a. the Court may hereafter deter
mine.
s. The Reeei, ers shah continue In the pos
session control and management OF said prop
, eTty and may continue the business or IN,
North POwna Manufacturing Company 70 sucl
, extent a. they deem udVislbl until iurthe
order OF this Court relative thereto ana ma
use the cash In their hands excepted from al
sale As aforesaid as well as any other none
which may be receive by them. and apply thi
same 20 the expenses VI che business and man
cement and prot elton OF the property and \
the performance OF their Obligations whcthe
already or hereafter Incurred. The said prop
erty ard business shall be conveyed aud trans
ferred As they stand on the date when uansie
OF title is effected and an adjustment shal
thereupOn be made whereby any excess OF none,
received by the Receivers after The day OF sal
sale. other than payments on account OF M
purchase price, over and above the m ney e1
pend, d by them after that time as aioresai
shall be paid over TO the purchaser and any 81
cess OF such expenditures over such receipt
shall be repaid 20 the Receivers by the put
chaser
G. The Court expressly reserves the right 3
! make such further order and dlrectlon In th
| promise as may seem just and proper.
~ Chambers, BruitlehOrO. District OF Vel
T mont, this 30lh Jay OF October, A. ID. 1905
JANIS l.. MARTIN.
Judge.
A tue copy,
ANNIE N. BROWN.
Deputy Clerk.
Under and pursuant to the authorit,
J and direction OF the above decree an,
, subject TO the conditions therein Sc
Il / sl.IU