The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1908-11-09
CRgVIf EVVRf on IEE UETEl SIlIES
DISTRICT or VERMONT
North Adams National Bank Fcuitv
vs. ~ =,
North Pownal Manufacturing Co.
Decree Authorizing Receivers to Sell
the Property Of the North
POWnal Miq. Co.

Z
hled on October 49, 1903. by Addison r. Cud-
worth ana Henry 4 Warner, Receivers here
toiOre appointed ia THIS cause, and upon
the pc itlOn OF the Receivers that decree
should be entered author 2ing them to sell a.
public auction all the properly ana business OF
the North Pownal Manufacturing Company as
therein act nth and Il appearing that an per.
sons Interested have been duly notified In az
cordanee with the directions OF this Court and
no one appearing In opposition hereto 10 is, up
on motion OF counsel for the Receivers
ORDERED JUDGED and DECREED
as fOllOws:-
]. The Receivers are hereby authorized and
directed TO Oner for sale and TO s., II az public
aueliO at such tine as the Receivers may de-
termue, subject to the tOllOWinp order as to
publication and notice, at the County Court
House OF Bennington County In the CITY OF
b. nnlngtOn, ermOnt, ana as one entire
lot all the property OF the North POwnnl
Manufacturing Company including all real es-
tate and interests In real estate both legal ana
equitable, plants, buildings and water rights,
and all machinery. equipment. supplies. IA
materials. stock In process lni shed goods, pat
ents, secret processes, notes and accounts re.
ceiveable cont acts, orders shares OF stock AID
other securities good Will and all other per
sOnal property of the said Company and the
business AS going concern under the rame
North Pcwnal Manufacturing Company carrie d
on by the Receivers, and all property and lights
Of every n ture real personal or mixed. In the
hands or control Ol the said RecCiA ers eACtpt-
held for or claimed by the Receivers, provided
that the Receivers may In their discretion eX-
clude from such sale the claim OF the North
PownAl Manufacturing Company filed with the
Receivers OF the Arnold Print Worns.
2 Notice OF such proposed SAFE shall be
given 70 all persons Interested by publishing
notice Of the time and pace and conditions OF
such eale and an attested COPY of this decree
together with description OF the real es ate To
be sold, once weea for at least our ~ weeks
Tor 10 such sale In Bennington Ban
ner newspaper published In the CITY OF Ben
nugtOn, Vermont and by publishing notice OF
the time. place and conditions OF such sale and
~ attested copy of this order once o week for
at least four (i) weeks priOl 90 such sale IN the
Boston Daily Advertiser newspaper publish q
In the City Of Boston. Massachusetts, IN the
North Adams Transcript, a newspaper pub
lshed in the CITY OF North Adams Massachu-
sets, an In the journal OF Commerce news
paper published IN the CITY OF New York, New
York, and by mailing a copy hereof 20 all k own
creditors OF the NoUh POWnal Manufacturing
Company he heceiyers may In their disrro-
tiOn adjourn or postpone such sale from time
to time aud without further notice or adYt Ttise-
ment may proceed with such sale al the time
10 which II may have b en- adjourned.
3. Such sale shall be made subject 10 the
confirmation Of III Court and 70 the terms and
conditions OF this decree. and the sald property
shall In no event be sold for less than one hun
dred ard fifty thousand dollars (il5n,OO0). No
bids shall be received "a said sale unless the
bidder shall prior l. the open ng Of the sale de-
p0sit " ID the Receivers, subject 10 the urther
order OF this COuft, cash or certified check
payable TO the Receivers or thel order Oh come
National Bank 10 the city OF OstOn or Ia the
City OF New York 10 the amount Of twenty i've
thousand dol ans (s25,0nJl Any such deposit
made by an unsuccessful bidder shall be re
turned 10 bin by the Receivers at the close OF
the sale. such deposit made by the successful
bidder shall be retained by the Receivers sub
lect 70 the further order OF this Court ana 4
the sale shall not be confirmed such deposit
shall be returned 10 the deposltOr II upon and
after the confirmation Of the sale by the Court
the purchaser shall fail 10 pay the balance OF
the purchase price or IN any respect fan to
comply with the terms and conditions OF tho
sale. or with any orders OF the Court relative
thert 70, SUCH deposit. unless the Court shA.
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 snail thereafter b.
discharged OF all obligations 10 The depOsitor
his representatives or assigns with reference
thereto; but II the purchaser shall comply va b
all such terms ana conditions OF the sale ana
orders OF Court relative thereto, such deposit
shall ne credited as part payment OF the pur-
chase price upon hnal adjustment VITA such
purchaser. Any purchaser who may be en-
titled 10 receive any payments under any order
OF distribution which may be made in this
cause shall be entitled 20 have the amounts of
such payments applied on account of the pur-
chase pflce IN Sucn manner as This Otrt may
determine upon combination of the sale. pro.
yided however that any purchaser mus on or
before tho date when transfer OF lite s, edected
Gay 10 cash 20 the receivers such portion Of the
purchase price as the Court nay order 10 be
app led 10 payment OF Receivers Ger lhcaies OF
indebtedness outstanding. the compensation OF
he Rec iVers. their counsel fees accountants
I, 90 or other expenses Of administration. The
Court reserves the right 20 reject ans aud All
bids and authorizes the Receivers 20 make sucn
Othef terms and conditions of sale not incOn-
Sistent herewith as IN their discretion may
seem wise and prudent.
4 SAID property shall be sold subiec. 90 any
and oil liens Tor unpaid taxes and assessments
~ every nature aud subject 10 an other charges
liens and eucumbrances thereon, II ans, which
may be ouptAnding az the time when transfer
OF title Is effected whether tue same existed
A. the time when a Receiver was appointed .n
this cause or have arisen thereafter, and alsu
subject TO all Outstandi ~ contracts liabi'itlr,
ana obligations Of the Receivers. and the pur-
chaser shall assume and covenant and agree 10
perform the same and TO idemniiy aud save
harmless the Receivers ther from aud said
property snall BE- charged Herewith and With
said covenant and agreement ana the decd of
conveyance shall establish such lien aud
charye Tor the performance OF such obligations
ana for the projection Of the Receivers 10 such
manner and form ana % such extent and Tor
such time "a the Court may hereafter deter
mine
5. The Rece' ers shah continue in the pos.
session control and management Of said prop
erty and may continue the business OF the
Moth PownaI Manufacturing Company TO such
extent as they deem advsth until further
order OF this Court relative thereto and may
use the cash Ia their hands excepted from thr
sale as Aforesaid a. well as any other money
which NAV be receive by them. aud apply the
same TO the expenses Of the business aud man
aSement and prot elton OF the property aud 10
the performance of their Obligations whcthsr
already or hereafter incurred. The said prop
erty aud business shall be conveyed and trans
ferred as they stand on the date when transfer
OF title Is effected and an ad lustment shall
thereupOn BE- made whereby ans excess Of money
received ny tue Receivers after the day OF said
sale other Than payments on account OF the
purchase price, over aud above the m ney ex.
pend, d By them after that time as Aforesaid
shall be paid over 10 the purchaser and ava e1-
cess Of such ex seudlturcs over such receipts
shall be repaid TO the Receivers by the pur.
chaser
6. The Court expressly reserves the right 20
make such further order aud directio. In the
premises as may seem Just snd proper
Al Chambers, Rraltlehor0. District OF Yer
mont, this 2Olh ay VI October, A. d 1908.
JAMES l.. MARTIN,
Judge.
A true eopyi