The Churchill county standard. (Fallon, Nev.) 1908-1920, 1916-01-12
Indications Point to a Speedy
Reorganization and opsr-
alton This Season

The closing scene IN the ILL
starred history of the Nevada Sugar
Company was enacted last Friday
afternoon, when the property of the
stockholders, real, personal and
mixed was sold to satisfy the pur-
chasers of the 100000 bond issue
that had been fioated to finance the
company in its early efforts to es-
tablish the beet sugar industry in
Nevada. However. the crowd or in
terested spectators who assembled
at the courthouse to witness the fin
al chapter. and which included a
number who had invested their say
ings in the enterprise, realized that
this was but the prologue of better
things to follow. All realized that
although they had ventured and lost
in the preliminary effort TO estab-
Iish a great enterprise in this State
and that 1t was not ordained that
they should directly reap the reward
that Il Is predestined that the re-
suits of their pioneering should be
far-reaching and that indirectly, at
least, they may confidently look for
ward to return for the sacrifice
they have made.
Property that cost In the neigh
borhood OF 100000 passed to the
control of the holders of the bonds
for $245,s16.13, which represented
the accrued interest and costs OF
foreclosure. The sale was conduct
ed by Sheriff Coniff, who had been
appointed Special Master by Federal
Judge harrington. After reading
the decree of the court Sheriff Con
If stepped to the front and called
for bids for the property which
opened at 100000 and was success
siyely raised In amounts of $4,000
until finally disposed of to Walter
T.. Oxtoby attorney and representa-
tive OF the Detroit bondholders. for
the amount of the Indebtedness.
There were but three bidders, Wal
ter Il. Oxtoby. J. Z. Duffy. repre-
senting the Hawley interests. and
Judge l.. ". French, representing
the wingneld interests through the
Reno National Bank. which holds
portion of the bonds.
II was plain that the bidding was
friendly and prearranged and had
no significance In the final outcome
of the intention to reorganize the
company and open the factory for
the manufacture of sugar. As ex-
planned by Judge French after the
sale. these proceedings were neces-
cary to perfect the legal closing up
of the affairs of the old company,
preliminary to passing perfect title
to the future purchasers or operat-
ors of the property. whoever they
may prove to be.
Rumor has persistently connected
the name of George Wingheld in
connection with the reorganization
and he has admitted that he has the
matter under advisement, and that
his participation In the enterprise
Is contingent upon the association
with himself of certain practical
sugar manufacturers of California.
While any announcement that he
will certainly be identified with the
reorganization at this time would
be premature, there Is every reason
to believe that such will be the case,
unless some untoward event should
transpire TO upset present calcula-
tions. At all events, 1t can be con-
fidently predicted that the factory
will run this year and that as soon
as the necessary steps can be taken
for a reorganization the fact will be
publicly announced. in order to give
the farmers of this and adjoining
counties every possible opportunity
to prepare their lands for the rails
ing Of sugar beets.
While 1t Is to be regretted that
the settlement of the legal entangle-
ments of the Nevada Sugar company
>~s~~~~e-~~~.~~-~s-s ss~~~-~s~s-~>c-~~o-~-~~
oooooooooooooo ooooooooooooo