Evening journal., 1913-11-22
WOULD SELL
STEEL PLANT
ON BLUMBERG
$4,000 BID
Stockholders Of Company Pc
titlOn Chancellor Curtis to
Confirm Their Tentative
Sale Of Property
BELIEVE IT IS THE
BEST OFFER POSSIBLE

Chancellor Charles NJ. Curtis has
issued an order directing Register N
Chancery Joseph G loHs to notify
all parties interested in the Diamond
State steel Company that oa Deccm
Der 3. at O'Clock. he will consider the
petition of George $ Capelle aud
John Richardson. Jr TO accept an
offer of Sl1O.O0O for the steel plant.
The offer has becn made by Bern rd
mumbcrg. OF philaiclrhia and is
considered the best which the
trustees have hccn able 10 obtain for
I the property. tn trustees have red
several times to sell this property at
| private sale. hut have been unable 10
do so. Under existing circumstances
the trustees in their petition say they
have reached point nhefc hey can
not carry the property amy longer
land recommend that the oner OF
BlumberR be accepted
Recently the property was cxicn-
siveiy advertised and the best otter
was S15l ,O00. This was considered
Insufficient
The offer Of bernard Blumberg was
Si7OO GOO for entirety 40. l. described
in the catalogue as follows:
Consists Of 5SS5 acres, more or
less, OF land with wharvcs on tide
water and directly connected with
tracks of the Pennsylvania r. r.,
baltimore aud Ohio r. r. and phlla-
delphia and Reading r. r.. upon
. which are erected buildings and
latructurcs for a modern iron and steel
j. plant that consists of nvc 50-ton open
e hearth mrnaccs. 34-nch blooming
1. mill with complete equipment finish
e ling mills. consisting Of seven trains
10 OF rolls running In sizes from 20
'e ches 10 rs in diameter, With tul
l. equipment OF rolls to roll siaudar
GO and many special sizes OF steel an
'e' iron bars. together With an assor
mn mcnt OF angles, fecs channels. ct'
go ,puddlc furnaces and mills, spike
$50 ipartment. rivet department, macN1
T" bolt and nut departmegt ~ topnp
70 galyanizing aud horseshoe Tf5s
'4o 4 ment. machine shop wcll cquipp
~ and an electric generating plant, 81
other necessary minor department.
u. Blumberg also made a further on
NJ. of $1,000 for the personal pfopcrl
consisting of cranes. tools, etc.
, The offer for the property Is mao
conditional upon payment for tb
property BY installments. by Whic
- $4,000 is TO be paid upon the con
hrmation OF the sale and 100000 1
10 be paid every three months there
after until full payment is made. Thu
deferred payments are TO Tear inter
Z est at the rate OF per cent a year
y In case the Chancellor should con
lfrm the sale of Entirety No. mt
should not confirm the sale OF ths
lf personal property. Blumherg agree
"a TO pay S45.000 instead of $4,000 OF
ii the last installment
The trustees report that Blumheri
'n has deposited with them certine
check for $4,000 upon condition tha
OF II either Ofier is accepted and a sal
he confirmed in accordance with Ga
mt terms thereof, the same shall ho fol
be felted in case Blumbcrg should "a
ey to comply With the terms Of the o
fer.
aid The petition says ~fhc-e trustc
ISIS have been able 10 get the above on
me only by great effort aad they believe
IN. is the highest ollei thcy can obtain
ON the property under present condiiio
vas and az the present time. lnasinuclI
Irs the trustees have rcacned the poll
she where il IS impossible for thcm 20 earl
us. tho property longer thcy ctnnot see no
the they can wait for the possibility of be-
rhe ter market conditions iheN lheroio
inc recommend To the chanccllor that
her loonirm the sale of the whole ~ the sal
Continued on Page Three.