The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1922-12-26
COURT NOTES

ter was included in petition fled
late Thursday in the Knox county
common pleas court In the office of
Clerk Of Courts c. c. Letter by Bar
ton w. Blair, attorney for the board
of directors Of the Fredericktown
farmers Exchange Co. The company
has been operated on the cooperative
basis since February, 1919.
The terse. precise and guarded Ian.
guage in the petition reveals how pre-.
carious have been the affairs Of the
Fredericktown company. The Freder-
icktown Farmers Exchange Co. has
been operating exchanges at Freder.
icktown and Ankenytown since its or.
ganiZation and incorporation in Feb
ruary, 1919. 1t was formed for the
purpose of buying and selling farm
products and supplies. Its capital
stock was $4,000. less than half of
which was subscribed and paid into
the company treasury Even now. a
portion CT the stock as subscribed Is
not fully paid. The par value Of the
stock was 800 per share. The shares
are held by 243 stockholders
The petition further recites that
owing to the inability of the company
to sell large portion Of Its stock, to-
gethcr with the carrying OF many GUS
toners upon its books and upon notes
for thousads Of dollars, It was unable
to secure sufficient capital with which
to operate successfully such business.
Losses. interest in borrowings. sharp
competition and debts have caused
the business to become Improbable,
and il will be beneficial to the stock
holders and creditors that the corpor-
alton be dissolved.
II is recited further in the petition
that authority to make his application
was given by the unanimous action OF
the directors adopting resolution di.
recting this action be taken in the
common pleas court.
With the petition is filed an inven-
tory OF the assets and liabilities.
These are listed in detail The assets
include real estate at FredericktOwn
and Ankenytown valued at $4,000,
cash, notes. etc, totaling $3S ,069.S3.
The liabilities are listed also. includ.
ing notes and other items aggregat-
ing s4S.750. Thirteen persons are
listed shown to have wheat in stOr-
age In the company elevators. There
are few other items Of undeter-
mined liabilities.
The prayer of the petitions Is for
the dissolution of the corporation.
that the assets be distributed accord.
ing to law and the charter surrender
ed. and that receiver be appointed
by the court to take charge Of the
business and wind up the affairs of
the company.
Decree for Plaintiff
In the case OF Robert l.. Carr VS..
Jay Mitchell. an entry has been hled
in the Knox county common pleas
court showing that the defendant. Is
indebted to the plaintiff In tha sum Of
ss29.s3 and that the plainufr Is en-
titled to recover that sum.
o.
Case Submitted
The case OF Cary Whitmore vs.. lie
yada Bailey was submitted before
Judge Blair in the Knox county com
mon pleas court rhursday. The suit
involves a right OF way. Judge DlaiI
took the matter under advisemen,
and said he would announce his opin
ion later.
Appointr,snt Made
Martha Harrison Stofer has bssc
appointed administratrix. Of John 4
stofer by the probate court OF Kno,
county. Bond s250O. with w. A. Kin
ton and Samuel Bryant as sureties
The appraisers are, Daniel Keller
John Kunkie and Christ Keller.
Report Of Sale
In tho estate OF Harry G. Boaton. ,
report ofss sale he's been alsd IN. ths
probate court Of Knox. coupty-
Order Of SALE
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