The Birmingham age-herald., 1913-04-04
Trustee to Continue Business


bankrupt is to be continued by the trus-
tee in the usual course under the orders
of this court as heretofore until the de-
livery of said deed; the purchaser by
accepting such delivery, in addition to
the payments hereinabove mentioned, ac-
cepts, assumes and undertakes to pay
and perform all the debts, contracts and
obligations of the trustee and of the re-
ceivers existing at the date of such de-
livery of which claims for wages of en-
ployes yet unpaid by the trustee. earned
within the three months prior to bank
ruptcy, amounting to twelve hundred and
sixty-seven and 17-100 ($l267.1D dollars.
shall be considered and treated part.
The sale shall include all money. prop
erty and assets of every kind of the Ala
bama Consolidated Coal and Iron COM
pany, and of the trustees in bankruptcy
of the said company, including all cash
in hand and all rights and remedies un-
der and by virtue of any contracts made
by the said trustee, and be subject to all
of the liabilities, contracts and obliga-
tions of the trustee and of the receivers,
duly incurred. for further security for
payment of which this court in this pro-
ceeding reserves the right, on 20 days
notice by the referee to the said pur-
| chaser at It's postoffice address. care of
Observation-Disclosures & Co., Baltimore
said purchaser any or all of said prop
erty upon default in payment as and
when due of said liabilities contracts and
obligations of the trustee and of the re-
ce1vers. including the trustees certifi-
Gates of Indebtedness of the trustee, ag-
gregating at the present time one hum
dred thousand (s100000) dollars of prin-
cipal, with accrued interest
8. The purchase money received and to
q nd Il ,o1I
under further orders Of this court In this
proceeding be applied to the payment of
the costs of administration in this pro-
ceed1ng, and to the payment of prov
able claims, now or hereafter filed within
the time allowed by law, to the extent
and amount that they may be now or
hereafter finally allowed, upon objection
or other contest if lnterposed, after ap-
peal, review or other APPELLATE proceed
| ings as provided by law which objections
may be made in the name of the trustee
| for the benefit of the purchaser, upon
| terms to be fixed by the court. and the
| remainder of the 100000 shall be applied
to pay such debts and liabilities of the
bankrupt which may be filed within the
time allowed by law and finally allowed
| in this proceeding as above set forth as
would have been enforceable against it,
save for the bankruptcy, and which are
technically known as non-provable claims
/ in bankruptcy, including the claim or the
Empire Coal company. or the National
Surety company, its surety. In the event
| that the claim filed in this cause by Dress
| er, williams & Carey shall hereafter be
finally allowed. as set forth with respect
| to other claims, in any amount as an OBJ
litigation of the bankrupt, the purchaser
| shall and will pay to the trustee in addi-
| ton to the purchase price hereinbefore
| mentioned. and as part Of the purchase
price, under this decree, the amount IL
| any, so finally allowed, provided the pur-
chase price herenbefore mentioned is in
| sufficient to pay all of the creditors of
| the estate herein provided for including
the said claim of Dresser. williams &
| Carey.
Time Limit of Thirty DAYS
| -. 1t is further provided as one of the
| terms and provisions Of this sale and
purchase that the committee shall accept
subscriptions to its existing plan from ali
] preferred stockholders of the bankrupt
! CORPORATION who have not heretofore sub
| scribed thereto. and who shall, within &c
| DAYS from the date OF this decree. make.
enter into and comply with the preferred
stockholders subscription agreements the
Aame a heretofore made BY subscrib-