Newspapers / Watauga Democrat (Boone, N.C.) / Dec. 28, 1922, edition 1 / Page 4
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Page FoWr ' NOTICE OF. PUBLIC SALE -nnk:-.j 11 VVWUUCU page bUlCC Trustees, by deed and contract of September 1, 1920, the time to cut and remove which timber ' expires . N September t, 1925 E. The 'following tracU o! land, aggregating approximatly 109S cores in fee, described in the Indenture as ' Parcel !iumbe Six", hovcby . iif--it hed by neJ'crenc? t' the deeds rider which s.i:d land. wer acquir id, all right title and interest of the rrm'ees being l ew in tho Cr-ripM!;, 1. Deed, 'J nomas Miilsfcps an J ' Wif.t io Bep.h Mountain LuMbur L vu nny, appwsimatly 10'..7r acrer, i.-.ti-d May 13,1020, ar-.l registered in "h Regis': ;:' office - Wwiga in 'lr.oK No. of deeds, page 247. ;. T't-ed, TA'. ,fil;r ai J" wife .j I inch Mo Lumber Cci'-.-vr'-y- npprox'u;-.i:y 22 acres w:4 J I. r, Js, da f i April 30,101', and Kf-.iidvd in ::i;i! Roeif tc's u:fie, irt't'Kk No. "r. f ilvi! pat."- 217; 3. Deed, J. C. Prcsnell and wife to Beach Mountain Lumber Com pany, approximately five acres, dat ed March 12,1919, and registered in . said Register's office, in Book No. 22 of deeds, page 308; 4. Deed, Lee Presnell and wife to Beach Mountain Lumber Com pany, approximately 31 acres, dated April 27, 1920, and registered in said Register's office, in Book No. 26 of deeds, page 226; 5. Deed, J. F. Phillips and wife to Beach Mountain Lumber Com pany, and undivided half interest in approximately eleven acres, dated September 29, 1919, and registered in said Register's office, Book No. 24 of deeds, page 1GG; G, Deed, A. D. Reynolds and wife to Boone Fork Lumber Com-j . pariy, approximately four hundred : sighteen (418) iicrc.j. dated Fcb-j irfcry 2, 1020, and registered in said Setter's office, in Book No. 27 of 3eoc!. pa 74; 7. Deed. C. A. Farlicr and wife to Beach Mountain Lumber Company approximately 70.7 acres, dated December 17,1920, and registered in the oilice of the Register cf deeds for Avery County, in Book No. 13 of Deeds, page 114; 8. Deed. N. A. Presnell and wife Bca:h Mountain Lumber Company, approximately 42.73 acres, , dated April 25, .ls)21, and registered in said Register's office for Watauga County, in Book No. 28 of Deeds, pagj 72; 9. Deed, Eugene Dougherty and wife to Beach Mountain Lumber Company, approximately 74 acres and 13.25 rods, dated April 15, 1921, and registered in said Register's office, Book No. 27 of Deeds, page 293; 10. Deed, L. D. Presnell and wife to Beach Mountain -Lumber Com pany. approximately iuu.o acres, dated April 5, 1921, and registered in said Register s office, in Book No 28 of Deeds, page 65; 11. Deed, N. S. Burton et ai. to Boone Fork Lumber Company, ap proximately one hundred eleven and one-half (111-1-2 acres, dated Sept ember 1, 1921, and registered in office of Register of Deeds for said Avery County, in Book No. 13 of Deeds, page 317. See also contract registered in said Register's office, Book of Liens No. 2, page 22: , 12. Deed, N. A. Presnell and wife o Boone Fork Lumber Company, .proximately . forty eight (48) res, dated June 20,1922, and re gistered in said Register's pffice for Vataaga County, in Book No. 28 jf Deeds, page 524. See also con tract registered in said Register's ofiiw in Book No. 28 of Deeds, at page 24; IS. Deed, Preston Dtshman to Boone Fork Manufacturing Company approximately sixty-six (66) acres and seventy-six (76) rods, dated September G, 1922, and registered in said Register's office for Watauga .County, Book No. 29 of Deeds, page 10. See also contract regis tered in said Register's office, Book No. 27 of Deeds, page 236 F. All right, title and interest in and to a tract of land containing " approximatly seventy (70) acres contracted to be conveyed to W. S. "Whiting by L. W. Johnson and wife Feburary 14, 1919, registered in the Registers office for Watauga Coun ty i;i Book No. 21 of Deeds, page 626, which contract has heretofore been assigned to the Company. A . balr. nee of $500.00 purchase money, with interest, remains unpaid on this contract, and will be assumed by the purchaser, G. The good will of the business of the Company on th epremises de scribed above, and all its right, title and interest to and in trade names, trademarks and licenses. H. All other fixed properties and real estate, interests in real estate, including timber and timber rights, , privileges and licenses, and all lease hold and other similar contract rights and interests situated or owned by the Company in Watauga and Avery Counties. Together with all rights of way and other rights, licenses and priv ileges owned by the Company and connected with- the operation of the above properties. SECOND GROUP OR PARCEL ! Cherokee County ' All properties situated, in Chero kee County in said State will be so , , offered for sale, a a whole, at the ; ' Courthouse door in the Town of ( . Murphy, Cherokee County, on Jan- ' joary 9, 1923, at 12 o'clock noon, ". said properties and assets being aore fully described as follows: Ai .The taw mill and lumber man- factoring Plant of the Company sit ited in Murphy, Cherokee County, fern th lands hereinafter described, X . . . . . m mill, with resaw, including log pond, onl 'dimension lath mill, battery of three Bteam boilers, one stationery steam engine, one electric generator, one charging station, two twenty two ton locomotives, fifteen Jog cars, one crank driven utility car, 'two electric tractors and one steam log loader with all fixtures, appliances, machinery, tools, supplies and equip ment to any and every of said pro perties belonging or appertaining; Together with any and all other mills, factories, houses, buildings, structures, engines, machinery, tools, apparatus, supplies, equipment and improvements, situated or contain ed upon the land upon which said saw ntill and lumber manufacturing plant is situated, or belonging or appertaining thereto, and tor a more particular description of said saw mill and lumber manufacturing plant reference is made to said Inventory filed with the Court by the receivers on November 2, 1922. B. The land in Murphy, Cherokee County, described and conveyed in the Indenture as "Parcel Number One", containing approximately thirty acres, upon which the saw mill and lumber manufacturing plant last above described is situated, of which'Tarcel Number One" Lots or Boundaries "First" to "Tenth", in elusive, are owned in fee, and Lots or Boundaries "Eleventh" to "Thir teenth", inclusive, are held under the following leases, all right, title and interest of the lessee therein being now in the Company: 1. Lease, W. H. Woodbury, Trus tee, to A. A. Fain, Trustee, dated October 7, 1919, and registered in the office of .e Register of Deeds for Cherokee County, in Book No. 73 of Deeds, page 159; 2. Lease, V. A.Bryson and wife to A. A. Fain, Trustee, dated Sep, tomber 4, 1919, and registered in raid Register s office, in Book No. 73 of Deeds, page 160; !. Lcr.se, W. Cdrtstphor and wife to A. A. Fain, Trustee, dated Sept mber 4, 1919, registered in said Register's office. Book No. 73 of Deeds, page 217; All of which leases ars for terms of rive years from their dates, with privilege to renew for terms of five years longer; The Indenture is registered in the office of the Register of Deeds for Cherokee County in Book No. 7G of Deeds, pages 385 ct seq., and reference is made thereto forbore particular description of the proper ties in said County. "First Lot or Boundary" of said 'Parcel Number One" will be sold subject to the outstanding term of a lease to M. C. King, dated October 8th, 1918, registered in said Regis ter's office, Book No. 69 of Deeds, page547 for the "Plaining Mill Lot", containing approximately three fourth of an acre, expiring five years from date. C. Private railroad of the Com pany in Cherokee County, surveyed and partly constructed, beginning at the mill and lumber manufactur ing plant, and running down the northern side of the Valley River to the-Hiawassee River; thence cross ing the last named river and running down the southwest side thereof, for about three miles; thence, cross ing said river .again and run thence up said creeK about five miles to the mouth of Davis Creek ; thence ning about one and one-half miles to the mouth of Hanging Dog Creek; htence up said creek about five miles to the morth of Davis Creek; thence up Davis Creek for about three miles until said railroad reaches the Com pany's lands described under "D" following:; Together with all sidetracts, switch es, bridges, eulberts, crosstic3 and the interest of the Company in and to any and all rail, all rolling stock tools and equipment: and To gether with all rights of way owned by the Company at time of execu tion of said Indentures, or there after aquired, and all other rights, privileges and equipment, and for more particular description of said right of way, reference is hereby made to the Indenture and to the records of Cherokee County. D. All those lands owned in fee situate, lying and being in Chero kee County, on the head waters of Tellico River and Hanging Dog Creek, approximately ten thousand acres, being the lands conveyed to the Cherokee Timber Company (which is the same corporation as the Company, its name having been changed under provisions of he Dela ware statutes) by the following deeds: 1. Deed, W. S. Whiting and wife, dated January 9, 1915, and regis tered in the Register's office of Che rokae County, in Book No. 29 of Deeds, page 98; 2. Deed, Chas. II. Thompson and wife, dated July 5, 1917, and regis tered in said Register's office, in Book No. 73 of Deedr, page 498; 3. Deed, W. R. Hopkins and wife, dated October 16, ,1919, and regis tered in said Registers othce, in Book No. 77 of Dee J 3, page 159; 4. Deed, Leonard K. Thompson and wife, dated November 18, 1919, and registered in said Register's of fice, in Book No. 77 of Deeds, page 157; E. The good will of the business of the Company under its present name, or under the name of Chero kee Timber Company, and all rights title and interest in and to trade names, trademarks and licenses. F. All othed fixed properties and real estate, or interests in real es tate in said County of Cherokee, in cluding timber and timber rights, privileges and licenses, : and lease hold and other similar contract rights ! and interests situated and owned by I v r. i i J r . j THE WATAUGA Together with all rights of way and other rights, licenses and privi leges owned by the Company and used by itx in connection with the operation of the properties above described as being situated in Che rokee : County. ' All Forgoing Properties a Whole. Immediately upon conclusion of ihe bidding lor the "sf-iond Group or Parcel" of properties at the Court house door in Murphy as aforesaid, and at the tame piace, all the mor tgaged lands, premises and proper ties of the Company itituated In the State of North Carolina will be offer ed for sale to the highest bidder, provided th;:t no bid will l:e received for said properties as a whole unless such bid shall exceed the aggregate of the bids for the two groups or parcels offered seperately. rrior .Liens .and . encumbrances Which Will be Assumed by Purchasers. The foregoing properties will be sold free of encumbrances, except ing the following liens and encum berances, prior to the lien of the In denture, which shall be assumed by the puichrrc'r or purchasers of the properties severally affected by said liens and encumbrances, to-wit; 1. Mortgage and contracts, Che rokee Timber Company to Pearl City Veneer Company, dated April 13, 1920, registered in the office of the Register of Deed3 for Cherokee County, Book No. 72, page 2G9, conveying lo'JU pop;ar trees on "Parcel Number Three" described in the Indenture (being the lands described in section "D" of above "Second Croup or Parcel"' as se curity for an advance of $100,000 made under a contract of sale of 2,500,000 feet of yellow poplar logs. 2. Deed" of Trust, Beach Mountain Lumber Company to Mark W. Brown Trustee,- dated Jure 27, 1918, re gistered in the ollica o.f the. Regis ter of Deeds for Watauga County ( Book "V" of Mortgages, page 7G, conveying the "Little, Linney and Pa-.terson timber ' (which is the "Thirteenth" and "Fourteenth" Boundries of "Parcel Number Five' as described in the Indenture, and the nroperty described above as Item "(b)" of paragraph "D" of "First Group v or Parcel") as security for the payment of approximately $10, 931.18, which is past due and held by the third parties, 3. Deed of Trust, Boone Fork Lumber Company to E. K. Bach man, Trustee, dated November 15 1920, registered in the Register's office for Watauga County, Book "W" of Mortgages, pr.g.: i veying the Reynolds tract (Item No 6 of "Parcel No. Six" as described in the Indenture, and Item No. 6 of paragraph "E" of above "First Group or Parcel") as security for the pay ment of balance of purchase money originally in the principal sum of $9,450.00 of which $3,000.00 has been paid, and the remaining $6,450. 00 of which remains unpaid and is represented by time notes, two of which are now past due, bearing in terest at the rate of six per centum per annum, payable semi-annually. Interest has been paid to September 15, 1922, and the holder of the notes has 'extended the dates of payment for ayear upon agreement -that one i half the principal and the accrued I ' l i. I 111- i i m ,, tt iiueresi Knan De pam Deiore tne. com pany, its. successors or assigns, shall cut the timber. ..4. .Deed, Linville Improvement Co. and Donald McRae and Hugh Mc Rae, Trustees, to Boone Fork Lumber Co. dated September 1, 1920, re gistered in Register's office for Wa tauga County, Book No. 27 of Deeds, at page 220, conveying "Nineteenth Boundary" of "Parcel Number Five" 5. Judgement, John Justice vs. Boone Fork Lumber Company, $1, 573.14, with interest from June -16, 1917, and $220.85 costs, docketed in the office of Clerk of Superior Court of Avery County, Judgement DocketNo. 2, page 14, 74 and 89, now pending on appeal to the Su preme Court of North Carolina, of North Carolina as franchise tax due by Boone Fork Lumber Com pany for the year 1921. 0. $1,863.30 claimed by the State described in the Indenture ((Item "(d)" of section "D" of above "First Group or Parcel") retaining a lien for balance of purchase money or iginally $50,000, of which $26,500 is unpaid and was and is payable a follows: June 1, 1923, $6,500.00, September 1, 1922, $10,000, March 1, 1923, $10,000.00 with interest as provided in deed. Interest oh the balance is paid to December 1, 1921, and it has been agreed that no fur ther payment of principal or interest will be demanded until the Company is re-organized (by sale of properties or otherwise) and its successor or successors, are ready to cut the tim ber, when the payment of arrears will be required. 7. $3,203,80 claimed by the State of North Carolina as tax on the ex cess valuation of the capital stock of Boone Fork Lumber Company for 1921. 8. $1,863.30 claimed by the State of North Carolina as franchise tax due by the Company for 1922. 9. Federal Taxes. Income tax of Boone Fork Lumber Company for the year 1920, $10,095.18. .Boone Fork Lumber Company, capital stock tax for the year end ing July 1, 1922, assessed as of July 1, 1921, $647.46. 10. Any and all Federal, State. County and Municipal taxes due, or to become due,' by the Boone Fork Manufacturing Company for 1921. TERMS OF SALE All properties will be sold, for cash to the highest bidder or bidders. subject to confirmation, eiceitin that, if desired, the court may accept DEMOCRAT oneuurTTTTashilnQ ments due in six and twelve months, bearing six per cent interest and se cured in a manner satisfactory to the receivers and approved by the court; and excepting , further that payments may be made in the bonds secured by the Indenture, or the purchase price may be paid partly in cash and partly in the outstand ing bonds and coupons secured by the Indenture.-as more fully set forth in the order of sale. A preliminary deposit of $5000,- 00 will be required from each bid der before his bid is received, and the last and highest bidder at each offering shall be required to deposit as additional deposit sufficient funds or bonds to make the total deposits or such bidder amount to nvc per cent, of his bid. If the additional deposit is not made immediately, his bid will be disregarded and the 1 3 . J ill -1 - saie proceeaea wim as inougn ms bid had not been made. Deposits shall be in cash or sat isfactory certified check, or in bonds secured by the Indenture . at half their face value. Preliminary depoS' its of unsuccessful bidders will be returned upon conclusion of the bid ding. The receivers will accept, in lien of manual delivery of bonds, sat isfactory certificate of some trust company that it holds the bonds-sub ject to the order of the receivers, and that it will, upon request, de liver tne-n to the order of receivers. The highest bid received at each of the offerings of seperate groups or parcels and the highest bid for all of the properties as a whole will be reported to the court, which may confirm a sale of either group or parse! of said land, without confirm ing the sale of the other parcel, or 't may confirm the sales of both par eels made seperately, or of all North Carolina properties as a whole, pro vided that the bid for all of said pro perties as a whole rs greater in a mount than the aggregate of the bids for the groups or parcels sep arately. Payment in full of the purchase price in manner aforesaid will be required of the purchaser .promptly upon confirmation, at which time proper deed or deeds and other con veyances and acquittances will be executed and delivered to the pur chaser or purchasers. For a more particular statement of the terms of sale, reference is made to said order of sale. Detailed descriptions of all of the above properties by metes and bounds and otherwise, plats showing mills and locations, inventories and de scriptions of mills and equipment are on file with the receivers, Ash ville Citizen Building, Asheville, North Carolina, and may be inspect ed there by any prospective bidder; and the properties themselves may be visited and inspected upon appli- I cation made to the receivers. Further particulars will also be furnished upon request addressed to the receivers DUFF MERRICK JOHN A. HAMBLETON Foreclosure Receivers. J. V. ERSKINE, . Auctioneer. NOTICE OFPUBLIC SALE OF CERTAIN OF THE PROPERTIES OF BOONE FORK MANUFACTUR- ING COMPANY. ' Receivers' Sale Under Creditors' . Bill By virture of an order and de cree of the District Court of the United States for the 'Western Dis trict of North Carolina, dated April 22, 1922, and entered in the case of "Summers Hardware Company, a Corporation, Locket Bros, Com pany, a corporation, and rl. T. Hack ney Company, a corporation, Plain tiffs, vs. Boone Fork Manufacturing Company, a corporation, Defendant W. S. Whiting, John A. Hamble ton and W. W Miller were appoint ed receivers of the properties and assets cf said Boone Fork Manufact uring Company and thereupon took same into thoir possession; and sub sequently, by order and decree of said Court,, dated July 29, 1922, Duff Merrick and John A, Hamble ton were appointed receivers of all the properties of said Company, sit uated in the State of North Carolina and included and conveyed in its mortgage to Commerce Trust Com pany, Trustee, dated August 1, 1921 and, subsequently, by a further or der of said Court dated August 19 1922, the said W. S. Whiting, John A. Hambleton and W. W. Miller, re ceivers, were directed to, and did turn over and deliver to said Duff Merrick and John A. Hambleton all and singular those certain proper ties of the Company situated in said State and conveyed in said mortgage, said Whiting, Hambleton and Miller, receivers aforesaid, however retain ing possession of all other proper ties and assets of said defendant which had theretofore come into their hands, and which were not sub ject to the lien of the mortgage foresaid. By an order dated November 1922, said Whiting, Hambleton and Miller, receivers as aforesaid, were ordered and directed to sell all of the properties and assets of the Com pany remaining in their possession and situated in said State of North Carolina, and not covered by the lien of the mortgage aforesaid, ex cepting cash on hand, choses in act ion, securities, manufactured lumber and notes and accounts receiveable free, clear and discharged of and from all hens and claims. Subse quently the said W. S. Whiting re signed as such receiver and Duff Merrick, has been appointed in his place.. , Therefore, in accordance with -wid der, the undersigned receiver, will order, uuer nil ui tiio uivuviuia auu oa- H ilk- MMI ow remaining in their hands for sale at public auction at the Hm H nlrp nrf unon the term hereinafter vet forth.. in. n -ow. iw, sold consist of articles of personal properties which are to varied and nnm.rf.ii.tn h WA in r5ptil Com. plete inventories of all of said pro perties and assets have been pre pared and are on file with the Court and at the offices of the receivers in tho Asheville Citizen" Building, Asheville,, North Carolina, and may k ;n.,f,i v.,, Ki,ior on any business day, before the dates of sale, between the hour of 9 a. M. and 4.30 n. m.. or. the receivers w 1 . upon application to the above office, supply such additional information regarding the properties and assets to be sold as may he requested; and, upon application, tiie receivers will afford reasonable opportunity to prospective bidders to visit the prem ises of the Company for examination and inspection of the properties and assets so to be offered. The receivers will first offer the properties and assets for sale in lots as hereinafter- listed, -reserving the right to also offer seperately the var ious articles composing any lot as may be announced at the time of sale, and, after the properties and assets situated in the several coun ties shall have been so offered for sale in lots, they will, at each of the places of sale hereinafter named, be offered for sale as a whole. Accord ingly the properties and assets here inaftcr lifted as being situated in the Counties of Watauga and Avery will first bo offered for sale at public auction, for cash, at tho Courthouse door in tho Town of Boone in said County of Watauga, at 12 o'clock, noon, on the 5th day of January, 1923, in lotn, reserving the right to also o!Ter separately the articles com popping any lot as niuy ue announced at the time of sale, and, upon con clusion of the bidding for said pro perties and a.sct3 in lots, they will be offered for sale at pubue auc tion, for cash, as a whole, and the properties and assets hereinafter listed as being situated in said Coini ty Cherokee will first be offered for sale at public auction, for cash, at the Courthouse door in the Town of Murphy in said County of Cherokee, at 12 o'clock, noon, on the 9th day of January, 1923, in lots, reserving the right to also offer separately the articles composing any lot as may be announced at the time of sale, and, upon the conclusion of the bid uiug ior saia properties ana assets in lots, they will be offered for sale at public auction, for cash, sa a l r i . w i . whole, Bids will be received at said places of sale for and upon the following: (a) At the sale to be made at Boone, upon any item situated in said Counties of Watauga and Avery, separately or in lots as said lots may be determined and offered by the receivers; (b) Upon all items situated in said Counties of Watauga and Avery in the aggregate: (c) At the sale to be made in Murphy, upon any items, situated in said County of Cherokee, separately, or in lots as said lots may be deter mined and offered by the receivers; (d) Upon all items situated in said County of Cherokee in the ag- gregate. As above mentioned, the items to be offered are too varied and num erous to be set forth specifically, but the receivers have determined upon and grouped the properties into lots, in accordance with the order of sale, as follows LOT No. 1, WATAUGA COUNTY. Office equipment at the main of ficc of the saw mill and lumber man ufacturing plant at Shulls Mills, con sisting of six derks, three tables, sundry cha'rs, three filing cabinets, two safes, telephone system, baskets, files, dictaphone apparatus, stoves, stationery and misccllanous supplies Office equipment in the engineer's office and yard office, oil house and storeroom of the Shulls Mills mill and plant consisting of two desks, four tables, sundry chairs, stoves, adding machine,, telephone system, files, cabinets, typewriters, baskets and miscellaneous supplies. Picture Show equipment at Shulls Mills mill and plant consisting of benches, stove and equipment, screen, projecting machine and electrical compensator, LOT No. 2, WATAUGA COUNTY. Household furniture, log camp equipment and bungalow equipment at Shulls Mills mill and plant con sisting of one hundred sixteen beds with necessary springs, mattresses, sheets, blankets, comforts, pillows and pillow cases, large number of towels, Bundry napkins, six ranges and sundry heating stoves, chairs, tables, curtains, shades, pitchers, basms, duties, Bpoons, knives, forks, phonograph, glasses, kettles, pans, pots, buckets, kitchen utensils, rugs, stools, lamps, chimneys, pantry equip ment, laundry equipment, etc., in sufficient quantities to supply the nor mal requirements for the operation of the mill and plant. LOT No. 3, WATAUGA COUNTY. Logs in pond at the Shulls Mills mill and plant, consisting of approx- imately 2,200,000 feet, chiefly of chestnut and oak, but including hem lock, spruce and maple, and smaller footages of poplar, ash and other woods. LOT No. 4, WATAUGA COUNTY. Commissary equipment and sup pliesat Shulls Mills mill and plant, consisting of store equipment, cases, stoves, names, shelves, scales, cut ten, files, cash register, etc., and the stock of supplies m said coamugamnr DECEMBER 3 , lltt fisting of shoes or men, mgf uaw, 5vvi,vkj w w 1 - ur"" " orugs, tobacco, . candy, stationery, sywpd hardware, lanterns, china, nnjeelUI anT we?nnnff, cloths and other goods, and geiera commissary supplies; soda foujtaid P1" ' n" rTTtir A rn tnrTY LOT No. 5, WATAUGA COUIY Horses and Cows. Nineteen ca of horses and one cow at S ulls Mills mill and plant LOT No. 6 CHEROKEE COUrTY. Office equipment at the offic I of tho MurDhy mill and plant, cor list ing of four desks,nundry chairs, o 1. nS e' saf elePj f?neif &tem , typewriters, stools, f Iingl cases, cioc aim nusceu.ieuuB v,m. supplies, LOT No. 7, CHEROKEE COUNT Club house and Logging iunp cquipmont at the Murphy mill fend pftint, consisting of forty-eight ( 48) beds, , with necessary mattfetiet, springs, comforts, blankets, sheets, pillows and cases, six oak flre&ers, five (5) washstands, sundry chiirs, ( towels, stoves, dishes, knives, forks, - spoons, bowls and pitchers and ot her furniture and miscellaneous he use hold equipment, also sundry han ess and stables supplies. LOT No. 8, CHEROK IE COUNTY. Horses and cow. Fo teen head of horses and one cow a Murphy r. till and plant. ' LOT No. 9, CHEROKEE COUNTY. Commissary supplies, in small quiji tity, at the Murphy mill and pla it, consisting of syrup, preserves, sot p, - spices, etc. LOT No. 10, CHEROKEE COUNTY Logs at dump in woods near Mi r- phy mill and plant, consisting of a h proximately 4,153,000 feet, chiefir chestnut, 'oak and hemlock, and it - eluding poplar, bass, maple and otht r woods.. The receivers will require f roi I each bidder, whose bid shall bo ac cepted, a deposit in cash, or by eel tided check satisfactory to the re ccivers, to an amount equal to ten pen cent, of the amount of each bid which deposits shall be retained unti the pales having been acted upon by the Court. Deposits made on account of sales confirmed will bo credited on such sales respectively, and the i ' balance of the purchase price will then become due and payable. The receivers may adjourn nny of i the above offerings from time to time, by notice appropriately given I at the time and piace appointed for such offerings or adjourned offer-1 ings and without further notice or ; publico, unless the receivers deem it advisable to make same, and may ; proceed wifh the offering upon the adjourned dates without further no tice. Upon the conclusion of all of the offerings, the receivers will report same to the Court, which may ac cept or reject and bid so reported and confirm any bid so accepted, whether of a part, or of all or of any of said properties so offered for sale, and, if the sales of any of said properties and assets are not con firmed, any and every deposit made on account of any such sale not con firmed will be returned to the bid der or bidders making same, and those properties and assets,' the sales of which are not confirmed, will be again offered for sale upon such ' terms and conditions as the Court may direct I f the Court shall accept any such bid or mds and shall confirm such sale or sales the purchaser or pur chasers shall pay the balance of the purchase price in cash, with the right on the parr of the receivers, if de ferred payments are desired, to ac cept one-thid payable in cash, one- third payable in six months and one- ' third payable in twelve months. Any and all deferred payments shall be represented by the notes o fthe pur chaser or purchasers, with such se curity by way of endorsement or endorsements, or collateral deposit ed therewith, as shall be satisfactory to the receivers and approved by the Court, and shall bear interest at the rate of six per cent per annum from their dutes until paid. Upon confirmation of sale and up on payment of the purchase price, the receivers will transfer and turn over to the purchaser or purchasers the properties arid assets bought, free and clear of all liens and claims, and will execute all necessary papers and perform all acts necessary to re lease the claim of tho receivers and to vest unincumbered title in the purchaser or purchasers, but shall not assume the duties or expenses of delivering the properties and as sets bought. The Court, contemporaneously with the order of sale herein, passed: an order of sale in foreclosure pro-. ceedings heretofore instituted against the Company by Commerce Trust Company, trustee under the mort gage by the Company of certain of its properties, and the mort gaged properties have also been or dered sold by the Court, and, for the purpose of giving opportunity to tho purchaser or purchasers under said foreclosure order of sale to bid for tho properties and assets Bold hereunder, it was ordered that the receivers herein might conduct the offerings and sale or sales herein. a ne same time or times and places as the sale or sales to be conducted under the said foreclosure order of sale, and the offerings herein pro vided far will, therefore, be conduct ed at or about the same time as the sales of the mortgaged properties. JOHN A. HAMBLETON W. W. MILLER DUFF MERRICK, Receivers. V. ERSKINE, I amsm&mii 7- 1 y .11 ill l1 4 it -!
Watauga Democrat (Boone, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 28, 1922, edition 1
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