Evening star., 1933-05-14
DATE TO Be SET
FOR SALE OF POST
Court Also Likely to Name
Minimum Price for Paper
This Week.

The District Supreme Court this week
Is expected to set definite date for
the sale of the Washington Post and q
minimum price which the receiver,
Benjamin S. Minor, may accept for the
paper.
In his last report to the court. Mr..
Minor urged that this action be taken.
stating that although he had engaged
in numerous conferences with prospec-
tive purchasers of the Post, he had not
received any definite offers and did not
believe any such offers would be sub
mltted until after the final date of sale
ana minimum price had been fixed.
1t was believed these definite instruc-
tions from the court are desired so
prospective purchasers may be assured
that Edward B. Mclean, former pub
Usher of the paper, will be unable to
take any legal steps toward contesting
a sale If one should be made.
$4,000 Already Sold.
Although urging very early sale"
as the best solution of the difficulties
confronting the Post, Mr.. Minor in
formed the court it is imperative that
publication be continued regularly and
that it might be necessary for him to
sci! more receivers certificates to keep
has been authorized to issue and sell
$50. 600 of these certificates
Mr. Minor pointed out, however, that
he has had difficulty in marketing these
certificates and that there is no degree
of certainty that he will be able to
sell more Of them to meet operating
deficits. His report said he has dis
posed of $38,426 of the original lot OF
$4,000.
Despite economies he has effected
and the whole-hearted cooperation Of
the staff, he said, he has been unable
to effect any substantial increase in re-
turns from advertising or other earnings
of the paper. The report listed the
papers assets as follows:
Real estate on street, sl0o,170;
bonds of the Washington Auditorium
Corp, s2,500 par value. and $1,000
Associated Press gold debenture bond.
The receiver says he is informed the
Auditorium Corporation bonds are OF
little or no value. The paper owns
81 700 of stock in the Vasco Products,
Inc, 10 shares of capital stock of the
Town and Country Golf Club, worth
$40 share at par, and so shares OF
capital stock of the Auditorium Corpo-
ration. worth $50 share at par, but
said to be actually of little value.
Other Assets Listed.
Other assets include notes receivable,
| S31 .29346, described as largely un-
collectible; accounts receivable. STA,
013 part of which are probably un-
collectible"; the Associated Press men,
bership, good will and circulation; cash,
2O.747.08 as of April 80. and supplies,
| $971217.
Under liabilities the report said the
paper owed $161, ,70622 to Mclean and
the American Security & Trust Co. for
.. advances out of the estate of John r
Mclean, and two overdue notes to the
trust company, one for $685. 900 and
another for $97,500. The Post, accord
ing to the report, also owed on $50
accounts a total Of $338,954.7 as OF
April 80. Overdue taxes, plus penalties
aggregate $7,114.31, the report stated
The receiver said the Post had con-
tract with the Mcclure Newspaper Syn
dicate for printing the Posts Sunday
magazine section, which was to run for
three years from April 10, 1882. He
said he had terminated this contract
effecting saving of $270 per week, but
that the syndicate has asserted claim
for $2,500 against the paper as a result
of the termination of the contract.