Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-12-24
FOR
RECE|VERSH|P IN
SCARLETT'S FIRM
RoseviIle Trust Director Or
dered to Appear in Cham
Gerry Court.


John b. Scarlett.s director of the ill
fated Roseville Trust Company and
president of the Greylock Land Com
pany, is directed to appear before
Vice. Chancellor Stevens on December
80, to show cause why a receiver
should not be appointed for the land
company,
! FlsErafsb chargeH against the Of
ffcials Of the land company are con-
tained in the petition for receiver
presented today in Chancery Court.
One charge alleges that a land pur-
chaser was given a deed to property,
apparently unencumbered, but which
was heavily mortgaged and subject
to eight liens by reason of Judgments.
A petition in bankruptcy was filed
against Scarlet by Nathan Bilder, of
the firm of Bilder & Bilder, on De-
cember IL, and Spalding Frazier, OF
RilSer e. Rilxer. was appointed re-
ceiver by Judge John Rellstab in the
United States District Court in Tren-
ton. His liability to the looted Rose
vile Trust Company. of which he was
director. is said to exceed $4,000.
The three complainants in the action
today are Joseph @. Perkins, George
whom bought two lots from the Grey
lock Land Company. The petitioners
for a receiver are represented by
Charles TT. Walker.
King contracted for the purchase
of his two lots in September, 1910. lie
has paid the company $3.50 on account
for property located on Belmoree
street, Belleville, in which town all
the property mentioned in the present
suit is located. King asserts tnat a
title search showed there is a mort
gage against his tract and on this
claim there is balance of $3.50 unpaid.
This mortgage was not disclosed TO
Fin at the time the sale was nego-
tiated, says King.
The mortgage on the King tract is
held by the Clinton Hill Building and
Loan Association. The original amount
of the mortgage was for $4,000. hlng
states that the interest on this mort
gage is Ave months in arrears, and the
property is in imminent danger or be-
irg subjected to a foreclosure suit.
To release the property from these In
cumbrances King declares he would
be obliged to pay 1882 outside of the
purchase price agreed upon in the
contract between himself ana the
Greylock Land Company. Kings bal
ance on the amount due the land COM
pany is $40.
The three tracts of land mentioned
by the complainants are all subjected
to eight judgments entered against
the land tract, of which their portions
are a part. The amount of the eight
judgments and dates on which they
were entered are as follows:
g tx.. kha nI%o NQf10nA
Bank-$4S0.64 September IL, 1913;
s321. .2s, same date; $164.1S, october 26;
$375.13, october 2s; $52964, November
26: s5156. same date; $16742, same
date. and one judgment secured by
Charles M. Griggs on December 2
last for $236. 10. Total amount of
judgments against the property. all
legged to have been sold as free and
clear, 50, ,326.55.
Perkins states that he paid the full
amount of the contract, $675, and
that he was given deed to his
Belleville property by the Greylock
Land Company on October %, 1911.
Subsequently he discovered that the
Clinton Hill Building and Loan AS
sociation held a mortgage against
the property and this mortgage was
found on record in the county regis
ter's office. To release his tract of
this claim Perkins would be obliged
to pay out s184, and in addition his
land is subject to the eight judg-
ments.
Osmer c. Rose contracted for the
purchase of two lots on the east side
of Smith street. Belleville. for S678.
The balance due from him on this
contract Is said to be but $22, but to
secure releases from the Clinton Hill
Building and Loan Association and
the Fidelity Trust Company, who
hold claims against his tract, Rose
would have to expend 1901 more. His
property is also subjected to the eight
judgments
The lots contracted for by Rose were
later sold to the Belleville Board of
Education by the Greylcck concern.
The latter company then offered Rose
three other lots in lieu of his original
purchase. but would not release him
of the $501 encumbrance on his orig
inal purchase, declared Rose.