The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-06-22
NEW COMPANY IS
NAMED THE DIXIE
Insurance Merger Per-
fected Yesterday Evening
AN IMPORTANT DECISION

dtAY 1AStA ~ IN
Circuit Court Of Appeals Rules That
Unregistered Chattel Mortgage is
Good Against Trustee in Bank
ruptcy-Rcverses Judge PurnelPs
Ruling-Other Items.
Greensboro, June 18.-Th:s after
noon the merger Of the North State
and Dixie Fire Insurance companies
was perfected. The Consolidated COM
pany will be known as the Dixie.
After electing members Of the board
of directors adjournment was taken
to June 25th. when the officers will
be elected.
The directors Of the consolidated
Dixie ire the following representa-
tive business men from all sections
of the State: John F. Bruton, George
Hackney, James P. Sawyer, W. 3.
Blades, J.. P. Council A. L. Brooks,
r.. H. Wright, j. S. Bowers, w. l..
Grisson, William Calder, W. f. Holt.
Jr, Fl. L. Hopkins, G. M. Nanstory.
j. H. Little. Ashley Horne, j. B.
Blades, Sol. Veil. NJ. @. Elliott, r.
=. Dalton. John F. McNair, L.. S.
Blades, w. s. Thomson, Oscar McMul-
II, &. j.. HeNDOW. X. H. fkoeF oS, "A.
D. Ward, Charles J. Harris, r. M. Mil.
Ter, Jr., Henry Redwood, p. D. Gold,
Jr, J. w. Stewart. w Blades, c. b.
Cheatham, J.. E. Latham. H. r. Bush.
Officers Elected.
The action postponing the election
Of officers until June. % was recon
sidered and the-neW directors, in ses-
sion tonight. elected the following Off
GERS: President Ashley Horne; First
Nice-P~resident, H. f. Bush; Second
Nice-President, George Hackney; Sec
rotary, L. W. hockey; Assistant Sec
rotary. +. NJ. Garner. The election Of
treasurer was postponed.
An Important Decision.
The Circuit Court Of Appeals has
just handed down a decision of far
reaching Importance in the case of
Wood Machine Company, of Green's
boro, bankrupt. About $4,000 worth
Of machinery was involved The case
was hinged on two points, and the
our held Cd the fact that an agent
is allowed to purchase part oil the
property that is stored with him does
not convert a contract which the par
ties intended to be one bailment into
an absolute transfer Of property; (2)
an unregistered chattel mortgage is
good against a trustee in bankruptcy
and creditors who nave not perfected
a len by seizure under legal process,
Both of these points were decided In
favor of the Wood Machinery Com
pany. A leading lawyer here says
that the Importance of the decision
can hardly be overestinlated. 1T
opens wide the door of fraudulency in
bankrupt proceedings because under
this construction of the law a debtor
the day before going into bankruptcy
may execute q mortgage to a confden-
tial friend and date it back more than
-four months. and unless he or his
confidential friend admit that the
mortgage is fraudulent, there is no
way to upset it. and the State regis
tratlOn statute is to that extent multi
fed The opinion overrules several
OF Judge Purnells decisions and fol-
lows closely the decision of the Uni
ted States Supreme Court in Hewitt
against Berlin Machine Company.
David Sterne and John Parker rep
resented the Wood Company and King
and Kimball. T. S. Reall and Scott and
Mclean represented the trustees.
Opera House Condemned.
City Build ng Inspector r. H. Mil
ton has posted notices Of cOndemna-
ton on both. OF the door Of the Grand
Opera House, and this theatre sis
closed for public uses unit the City
Council provides fire escapes. The
building has been condemned for sew
eral years on account Of i~nadeuuate
fire escapes but shows have been held
as heretofore. The Board Of Alder
men have been rrang 'ng for the
erection of fire escapes for more than
a year past. but so far nothing hos
been done.
At present the Opera House is or
the city's hands. the lease held by Mr..
H. H. Tate having expired June l.
AS far as is known no one has ap-
piled for a lease for the next theatri-
cal year. and now it cannot be used
until the fire escapes have been put
into place. Even though the Alder
men award the bid. al the next meet
ing it will take several n to get
the escapes into place. At. the EARL
est it will be the middle of September