Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1919-02-19

WhnrPaS. Il. "A. SOOhs 49, r
" n nnnointment by the Court OF
G TLaro "pp of the Independent Tele-
obona Exchange. has filed with the
PP,,bIic Service Commission OF yer,
n,ont a netition which is in words ana
| figures as follows:
estate OF VERMONT.
To the Public Service Commission OF
the state of Vermont:
petition for Approval of Sale OF the
Indanendent Telephone Exchange.
Comes. E. A Cook, Receiver under
e,--9.l-..ent. by t2e -. - -
- ot the independent Telephone En-
change. and requests Your Honorable
| Rodv to confirm the sale hereinafter
described of the entire assets OF salu
/ Independent Telephone Exchange,
| corporation organized ana eAlSCIis
under and by virtue OF the laws Oh Ihe
state of Vermont, and operating d
/ telephone business IN the countries u
! U41e0l-5 a.. ~.lC~Ol4-d2 Oh,
In Orleans County Court OF Chan.
Gerry petition was brought by myseI
as trustee of certain interests ana
certain individuals who were as trus-
foe of certain interests and certain IN
dividuals who were compelled to pay
q mortgage given by said lndepen-
dent Telephone Exchange to foreclose
said mortgage, and a decree therein
was rendered by said Court OF
| Chancery in favor of myself as Such
trustee against said Independent Iele-
phone Exhange, and all persons
claiming Hereunder, which becomes
absolute on or about the 10Th day OF
March, 1919
In the proceedings in said cause
was amounted receiver of said indie
pendent Telephone Exchange, accept
ed the office, qualified and began oper-
ating the same on April l, 1918, and
have since continued in operation
thereof as such receiver.
In the decree in the above named
cause, l was given authority to sell
the property of said telephone COM
pany, subject to the approval OF the
Chancellor.
The following facts should appear
before Your Honorable Body:
a. The amount of stock held by
the stockholders and paid for by them
in the company is in the vicinity of
Twelve Thousand (S12,000) Dollars,
probably more, but | have been I'M
able to find the Stock Book.
} b. The Indebtedness of said COM
: pany, aside from the stock, is be-
tween $4,000 and $4,000.
c. This Indebtedness includes the
5 amount of the decree in this cause,
A which was about $1,000.
d. I took charge of the property
as receiver April l, 1918, and have
continued the operation of the same
and on the first day of January, 1919
: the income of the company had failed
to pay the expenses to an amount OF
more than $1,000.
+, have persistently tried to obtain q
n purchaser for the same, and in Octo-
v Der, 1918, the engineer of the New
J. England Telephone and Telegraph
IL Company, located at Boston, in the
v state of Massachusetts,, examined the
e. physical property and placed an ap-
praisal on the same, and on the 23c
day of December, 1918. said New En-.
gland Telephone and Telegraph Com
- pany offered me the sum of $4,000
for the same.
E f. l Immediately called a meeting
- of all the stockholders, all the users
- of the telephone, and all creditors OF
st which l had any knowledge, to be hello
at Barton in the county of Orleans
on the 26th day of December, 1918.
" G. At that meeting l placed be
y fore large number of the above de
scrlbed people the situation with re
Is latlon to the Independent Telephon,
Exchange, and tried to enlist SOM
parties interested in an Independent
: telephone line to take some action
n and at that time a committee was ap
pointed to consider the situation an
report at meeting. to be held on tn
9th day of January, 1919.
h. On the 9th day of January
1919, l was compelled to be at Mont
pelier, and the meeting was not hel
for the reason that the committe
who were to investigate the matte
reported to me that they were unabl
to find any personal funds to tax
hold of the venture.
!. In the meanwhile Ihad procure
the consent of the New England TIE
ephone and Telegraph Company I
hold their offer open until the lot
day Of January, 1919.
J. On the 9Th day of Januar,
1919, one John Buckley, who is on
OF the guarantors and parties inter
ested in said decree, notified me tha
he desired to purchase the lines an
IL run them as an independent line. an
notified him that / should he ola
m 70 turn the plant over to independer
~ individuals, but / must have a guar
anty that would be paid the 1900
when approved by Your Honorabl
- Body and the Chancellor.
k. On January 10, 1919, after hav
ing seen John Buckley and learnin
from him that he was unable to oh
,tea tam the guaranty at that time, ac
We, eepted the offer of the New Englan
IDS Telephone and Telegraph Comnanv
Try / am fully satisfied that. aIthono
set the property Of the Independent Teie
eet phone Exchange has cost to date !
23Te the vicinity of $4,000. If
nh not now worth any more thar
ut II as much as, $4,000, as