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HomeMy WebLinkAboutAssignees, Receivers, and Trustees 1931-1941 Receiver 1931 We De TURNER, Stockholder ani creditor ~4 of the Defendant Corporation, on behalf ) of himself and other creditors of ARMFIELD ) VENEER COMPANY who may join in this pro- ) ceeding, ) COMPLAINT versus ) ) ) ARMFIELD VENEER COMPANY The plaintiff, complaining of the defendant, alleges: lst. That the plaintiff is a citizen of Iredell County, North Carolina, and is a stockholder ani creditor in the defendant company. 2nd. That ARMFIELD VENEER COMPANY is a corporation chartered umer the laws of this state; has its principal office and place of busi- ness in and near the city of Statesville, and is engaged in the manufacture and sale of veneers from various lumber. Sréd. That the defendant is very largely indebted and its debts and liability are believed to aggregate about the sum of $29,000.00, prac- tically all of which is now due, and that which is not due is near maturity. That among its indebtedness defendant owes the plaintiff about $6,250.00 in certificates and accounts. That the defendant is indebted to the First National Bank of Statesville in the sum of $17,000.00, which will mature in a very short time, and is indebted to sundry other parties in sundry amounts which are now due, aggregating about $12,000.00, all of which aggre- gates as alleged above. 4th. Tmt the assets of the defendant consist of an acre and ons- half of land near the corporate limits of the City of Statesville on which is situated factory buildings and machinery reasorably worth $25,000.00, and that its other personal properties and effects by way of mple veneer, poplar veneer, eto. together with accounts receivable, aggregate probably $5,000.00. 5th. That the plaintiff, W.D. TURNER, is liable as an endorser in the amount of $17,400.00 on the notes and obligations of the defendant company. This suite is brought by the plaintiff for himself and in behalf of all other creditors of the defendant who my join herein as parties or claimants. 6th. That some of the creditors on notes and accounts dme are institu- ting suites in the Superior Court and are seeking to obtain judgments and liens against the property of the defendant. By reason of the depressed condition of the market for goods mamufactured by the defendant, and ee the country, and the depreciation of real estate by reason of said depression, it is very apparent that the property of the defendant will likely be sacrificed and the creditors lose thereby. ‘That by reason of the depression in business and impor- tunate creditors, the defendant is in imminent danger of insolvency. Not only have suites been brought and are now pending, but other suites are pending, by reason of which defeniant's credit is seriously impaired. 7th. ‘That the plaintiff is informed and verily believes, and on such 3 information and belief alleges, that on account of the large indebtedness of the defendant, the mture of its assets, ani the fact that mny of its debts are dus, and due to other complications by reason of the depressed condition of the mrket for the goods mmufactured by the defendant, that it is not practicable for the defendant to contimue to operate ite business. Sth. That there are on the yard of the defendant several carloads of logs, aggregating in value more than $1,000.00, that will greatly depreciate for commercial purposes and for mamufacturing into venesr, by reason of their ex- posure to the weather. 9th. That it is impracticable unfer present circumstances for the de- fendant to contime to manage its business; and that it is to the interest of all persons, creditors and stockholders, that the assets of the defendant be put under the protection of the court and administered by the court to the end that if a distribution among creditors ani stockholders be necessary, the same may be equi ta- ple, with due regard to the rights of all creditors and the priorities, ani without the loss and waste which would result from taking judgmant and levy- ing execution. 10th. hat in order that all parties interested, stockholders, creditors, and claimants of the defendant, may be protected, and the assets reduced to cash and distributed among the respective creditors ami claimants equitably, it is necessary that a receiver be appointed for the defendant. llth. ‘That a summons has been duly issued in this action ani served upon defendant. WHEREFORE, Plaintiff respectfully prays for a decrees 1. For the appointment of a receiver, or receivers, to take charge of all the property and effects of the defendant,. to hold the same and admin- ister the same under the direction of the court. 2. That moh other and further relief as to the court my seem just WAP dcoee Attorney for Plaintirr©S and for the costs of this action. W. D. TURNER maketh oath that the foregoing complaint is true of his own knowledge, except those matters and things stated on information and belief, and as to thosethings, he believes it to be true. Subscribed and sworn to before me this day of July, 1950. a SUPERIOR COURT--SUMMONS . Im Accordance With Chapter 66 Public Laws 1927 >. IREDELL COUNTY—In the Superior Court. AGAINST _ a SUMMONS FOR RELIEF uff 9 Birt ok: "Sa, THE STATE OF NORTH CAROLINA, To THe SHERIFF OF__ _ ten 2eee— ———_County—GREETING: You Are Heresy ComMANpdsED To SUMMONS. the defendant. above named, it A he __..... be found within your County, to be and appear at the office of the Clerk of the Superior Court, for the County of Iredell, at the Court House in Statesville, not later than THIRTY DAYS from date of service of this summons, and answer the complaist, a copy of which is hereto attached, (or which will be filed in the office of Clerk of Superior Court of Iredell County within the time as set out in the attached order) and let the said defendant take notice that if _.__. Zi fail to answer the said complaint within the time required by law, the plaintiff will apply to the Court for the relief demanded in the complaint. Herein fail not, and of this summons make due return. Given under my hand and seal of said Court, this en of Jerry 405 suqmiging Lanoo AOrmdadns TAA! tT We, and each of us, acknowledge ourselves bound unto the Defendant herein named in this action in the sum of two hundred dollars, to be void, however, if the within named Plaintiff. shall pay the defendant. all such costs as the Defendant... may recover of the Plaintiff__ in this action. Witness our hand. and seal__ this the_____day of —____ Te, sesctinpansinunige’ COmMMe ees _ (Szar) | se ane siaceconp (Sear) ip L ne et a aaa alaska cable Att A. > ‘sail un uufaketh oath that he is a resident of County, North Carolina, and worth TWO HUNDRED dollars over and above all his liabilities and legal exemptions allowed by law. Sworn to and subscribed before me this ict ac hla eli ncndianing Med dtaavin we ore |: teed Clerk Superior Court. (Seat) NORTH CAROLINA: } IN THE SUPERIOR COURT ae IRRIELL COUNTY )} gay fy —s:980 WeD. TURNER, Stockholder and Creditor of the Defendant Corporation, on behalf of himself and other creditors of ARMPIBID VENBER COMPANY, who my join in this pro- ceeding, versus ARMPIEID VENEER COMPANY KNOW ALL MEN BY THESE PRESENTS, that we end as principals, and as surety, are held and firmly bound unto ARMFIELD VENBER COMPANY, a cor- poration, the defeniant, in the sum oc bies Marital, pirinve, to the payment of which well and truly to be mde we bind ourselves, our executors, administrators, and successors and assigns, firmly by these presents. Signed and sealed, this the 2g dey of August, 1950. The condition of the above obligation is such, that whereas the above dounden, has been appointed temporary receiver in the above entitled action: Now, therefore, if the said 1 well and faithfully discharge his duties as such receiver, then this obligation is to be void; otherwise, to remain in full force and effect. The adowe bond is hereby approved as to form, sufficiency, and solvency. IN THE SUPERIOR OOURT JULY dese 1930 We De TURNER, Stockholder and Oreditor of the Defendant Corporation, on behalf of himself and other oreditors of Arm- field Veneer Company, who my join in this proceeding APPOINTING TEMPORARY RECEIVER ; / ARMFIELD VENEER COMPANY Upon consideration of the compaaint in the above entitled action, duly verified, and treated as an affidavit, it appears to the court that good cause has been shown fer the appointment of a receiver of all assets, properties, and effects of the defendant: WHEREUPON, upon motion by the p tiff, it is ordered, decreed, and adjudged by the Court that be, ami he is, hereby, appointed temporary receiver of all the properties, assets, ami effects of the defendant, ARMPIRLD VENEER COMPANY, and upon the execution and filing with the Clerk of this Court, of a bond in the usual form of a receiver's bond, with good and sufficient surety, to be approved by the Clerk, in the penal sum of e” dollars, conditioned for the faithful performance by said receiver of the duties imposed upon him, said receiver is hereby author ised and directed to take possession of the properties, assets, and effecte of the said ARMPIELD Vaan COMPANY, the defendant, and hold the same subject to the further orders of the Gourt, and to contime to operaté the business of the Corporation until further orders from the Gourt. It further appearing that there are large quantities of logs on the yard of the defendant that will likely depreciate in value by reason of their exposure to the weather and be rendered less useful for veneering purposes, the said re~ ceiver is hereby authorised and empowered to borrow the sum of $5,000.00 for the purpose of operating said plant, if, in his opinion, he deems it wise ani meee. ani to give a certificate to the parties from whom he shall borrow the money of the + defenda rt company, in his mame, which shall be the first lien upon all the preper- ties of the defendant, real ami persomal, to be first paid before the distri- bution of any of its assets to the credi tors. Defendant and others interested are notified to show cause bef me at the Judge's chamber, in the courthouse of this County, on the oto, of August, 1930, why said receivership should not be made permanent. Let summons and the substance of this order be published as provided : KORTH CAROLINA }. sa THE SUPERIOR COURT } j IRSDELL COUNTY ) Mag o 1930 WeD. TURNER, Stockholder and Creditor of the Defeniant Corporation, on behalf of himeelf and other creditors of ARMFIELD VENEER COMPANY, who my join in this pro- oecdizg, versus RECEIVER'S BOND ARMPIEID VENEER COMPANY KWOW ALL uBR, BY THESE PRESENTS, that we sa Od a bX as principals, and’ a as*eurety, are held and firmly bound unto ARMPIGLD VENECR CPAPANT, @ cor- poration, the defenignt, ip the sum of WIM ZO MZ =I s, to the payment of which well and truly 'to be mg mM Yurselves, a executors, Z Fe administrators, and “sucggssors and ae€i¢éenr yy these presents. Signed and sealed, The comition c bh Ante J = y Q ounden, has been appointed ct ted th b< “ed action: Sow, therefore, if the seid Le ag y his dat as such reoel , then this obligstion is to be wold; otherwise, to remin\ik full forog’ god effect. The above bord is hereby approved as to form, sufficiency, and solvensy- ° _ wy WORTH CAROLINA ) IN THE SUPERIOR COURT IREDELL COUNTY ) August 4th, 1930. W. De. Turner, Stockholder and Creditor of the Defendant Cor- poration, on behalf of himse?f and other creditors of ARMFIELD VENEER COMPANY, who may join in this proceeding, ORDER APPOINTING PERMANENT RECEIVER. =-VS~ ee ee ee eS ee ARMFIELD VENEER COMPANY This cause coming on to be heard, pursuant to a former order in this cause, to show cause before his Honor, Thomas Le. Johnson, at chambers in Lumberton, N. C,. on the 4th of August 1930, who is holding the courts of Iredéll County as special judge for a two-weeks term, why the receivership heretofore decreed should not be made permanent: And it appearing to the Court that the defendant ie @o greatly ombarrassed that it cannet-.euceessfully carry on its business and it is in g@@iment danger of insolvency with an impatized capital stock and a large number of debts now due, upon which suits are being brought and threatened; and the defendant having failed to show cause why the temporary receivership should not be made per- manent; Now, therefore, it is ordered, adjudged and decreed by the Court that the receivership heretofore decreed by an order in this action be, and the same is hereby made permanent. It is therefore ordered that Clarence Stimpson be and he is hereby appointed permanent receiver of all the properties and effects of the defendant, with all rights and powers vested in re- ceivers of corporations by the laws of this state. This order shall become effective for the giving of a bond in the penal sum of $1,000.00, to be approved by the Clerk of this Court and conditioned according to law for the faithful discharge vy said inleatvnns ob his duties as such. / It is further ordered that said receiver shall as soon ag practicable, and within ten days, publish in some newspaper, having a general circulation and printed in the City of Statesville, Cy ee for four successive weeks a notice to all creditors, claimants, stockholders and parties interested in Armfield Venner Company, the defendant, to present all claims they have of any character whatsoever against the said Armfield Veneer Company, together with a statement of the securities or priorities claims; and further sic dec all such persons, credi- tors, claimants, stockholders and parties interested that all claims not presented to the receiver before the 15th day of Novem- ber 1930 shall be darred from participation in the distribution of ‘assets of said defendant, After the time shall have elapsed for filing preetof claisis, demands, etc. as herein¥efore provided, ” ort rw the receiver shallk report his findings, setting forth the creditors . ee ~ ~~ =a = - 1 - “~¢ and the amounts the receiver shall find due to each creditor and the securities ana priorities, if any, appertaining to each clain, and the receiver shall make a report of the same to the November term of Iredell Superior Court 1930. . It is further ordered that the receiver shall carry on the business of the defendant in the manner and respect set farth in the order appointing a temporary receiver, subject at all times to the further direction of the Court. That the reobiver is further directed to proceed forthwith in the diligent collection of any debts owing to the Armfield Veneer Company. That he is author- ised to offer tos sale in the manner best caloulatédnto obtain full value any real or personal property belonging to said defendant, and to sell the same upon such terms as will be best for all par~ ties; all pales of real estate and the plant as a whole shall be submitted to the Court for confirmation. fhe receiver is directed further to reduce expenses of Armfield Veneer Company as,much as it is practical for it to dp e «Sis so by the reduction of a number of employees and keep on payroll “¢ ta “ only such pérsons as are necessary, and to do and perform all such things as are necessary for the successful conduct of the. business. This cause retained for further orders. - of Judge Presiding ° Superior Court Wf Iredell County. Gan frrr hice fivfirn, fe. Rak (atecur =. Hoscont fon Dank frre bree, <- tin Poss ofrrim, Aa | deerme ik lore Gad Yfretried, or Be nog Grred | Leeary flier wi har Htrtulin Gnd & ae tie: _ Vesa, for gy sie" heal 7 a Veen gs November 1, 1930 THE INVENTORY OF THE ASSETS AND DEBTS OF ARMFIELD VENEER COMPANY AS OF JULY 31,n1950, THE TIME TAKEN OVER BY RECEIVER. ASSETS $1400.00 7649.61 5495.55 7235.92 500.00 Land Main Bldg. ($11352.20 less depr.) Mchy & Equip.($11362.31 less depr.) Rwy. Siding ($1085.86 less depr.) Automobile Supplies & Fixtures 1302.05 Office Fixtures 168.00 Cash First Nat'l Bank 72.44 (J.A. Gunter $585.33 % Accts. Receivable(Hick. F. Co. 899.99 ( Tres tak ti hie Unexpired Insurance - 407.88 Finished veneers on hand 1203.39 Timber on hand 250.28 LIABILITIES Brady Printing Company $ 7.00% City of Statesville (water & lights) Coe Manufacturing Co. Charlotte Supply Co. Carolina Lumber & Timber Co. John Cook Rufus Givens Guilford Machine Works Harwood Bros. (Int. 63¢) Hedland Bros. Kest r Mchy. Co. A. R. Kampf Timber Willie Loyd ' C. A. Mosso Labababéieies J. M. Martin-Timber Edger Marsh-- A. P. McCormick " M. H. Pate * Cc. B. Reavis J. Be Rodgers & Co... Consolidated Steel “trapping Co. Sta. Realty & Ins. Co. J. C. Steele & Sons Statesville Drug Co. Sou. Bell Tel Co. W. F. Thomson Timber J. M. Taylor Mach. Co. County Taxes Cc. H. Turner Thomas & Lackey Union Log Company W. 0. Hampton " S. E. Elliott " Will Holtzclaw # Will McBride Labor Lody Dalten " J. M. Stewart Salary Lazenby Mont'y (Conner Bryant) Timber 12.76# 26.00 119.07# 267.88 249.53 90.94 75.00 36.63 147.80# 19.78 137.47# 9.46 12.50 67.49 213.224 83.57 75.74 81.548 172.50# ($100 0 K'd.) 295.14 353.10 103,65 2.15 11.86 946.30 14.40 252.44 37.758 89,42 600,00 275.45 180,80 147.10 17.00 15.00 895.61 9.61 First National Bank . 17000 ..00 (prin.g6000 W. D. Turner (Prin. & I.t. 1/1/28- | Ww, D. Turner salary 8/1/30 ) 6930.00 1922-1927 inc.) . ' _— _ Respectfully Sut tted, we Hey a 4 AN ACCOUNT OF THE OPERATION OF THE PLANT OF THE ARMFIELD VENEER COMPANY ae ee ae a te we ee ee Inventory as of July 51, 1930 Supplies ® Fixtures $1302.05 finber en hand 250.28 Finished veneers on hand 1203.39 Cash in bank 72.44 Agcounts Receivable 900.00 (J. A. Gunter, $585.53 Unexpired insurance 407. insolvent) ° $4136.03 een eee SS SBSoe 8S SF SSSSSSSROSSASOOO SST —— ee ee Inventery as of October 3i, 1930 Supplies & Fixtures $1250.00 Unexpired Insurance 305.91 Steck cut on specificatien Kennedy Plywood C6. s- 763.88 Themasville Chr. Ce. 723. Gonever he COe 135.96 Imperial “urn. Ce. 76.50 Martin Furn. Ce. 126.49 hand 95952! of Tiere © ¥2.00 $191.90 #500' Pep @ -0o 20.00 3630' Blis. Pep @ $10.00 363.01 32123' Fig. Maple @ $10.00 _ 381.23 Acots. Seceivable Conever Purn. Ce. geet J.A.@unter (Insolvent )$585.55) Hick Furn. Ce. 1098.07 A. Ka & Bre. 1064.98 Kenned Pi eod Ce. 55.03 K & L Panel Ce. 54.08 Martin Purn. Ce. 124.80 White Purn. Ge. 1109.98 __ ae Petal Inventery Octeder 31 $6)61.79 fotal Inventory July 51, Agets. Payable § 856.08 Notes First Bat'l Bank 2500.00 he fhe plant was net eperated in the menth ef August and enly 6 in Oop teneey and 20 days in Octeber whieh shows a net it of $1269.74 te November 1, 1930. Respeetfully, _ Litres Lh at rcemmpprepgee North Carolina, Iredell County. In the Superior Court W.D.Turner, et als., } -ys- FINAL JUDGMENT. Armfield Veneer Co. This cause coming on to be heard before the undersigned resident Judge of the Fifteenth Judicial District, at Chambers, upon the finel report of Clarence Stimpson,Receiver of the defendant company, and it appearing to the Court from said report that he has operated the plant by order of the Court during the ten months that it has been in his hands and during said ten months he only operated the same about three months and thet during the remainder of the period he was unable to operate it at a profit on account of the depressed conditions of the country and the veneer market. And it further appearing to the Court that the Receiver has made diligent effort to sell the plant advantageously, but has been unable to obtain s did for the same that he could reccommend for confirmation, and the only bid that he felt willing to submit to the Court for confirmation was the did of J.M.Stuart of $3,000.00 for the plant ae 6 going concern, and that while said bid is low and less than the real value of the property,on account of the business conditions ef the country and the general depression and in order to bring his Receivership to an @nt, he- recommends the said sale to the ssid J.M.Stuart for the safd amount de accepted and confirmed, and that he de authorised to execute deed for the same; IT IS THEREDREE, CBESIDERED, ORDERED, AND ADJUDGED that the sale of the plant to JM. Stuart be and the same is confirmed, and that Clarence Stimpson, Receiver aforesaid be and he is hereby sutkborised, empowered and = Stugeter to execute to said J.M.Stuart or his assigns s deed conveying = fee simple title to the land and plant aforesaid. /: > ca That ont of the funds in his hands he is directed to pay and disburse all bills due by him as Receiver, including the balance of the borrowed money from the First National Bank of Scaeeeritteyirte; of $2,000.00. ~ That out of the remaining funds in his hands he is ordered and dttected to pay the following preferred claims, to-wit: Taxes,cost of suit,laboreres and employees of the defendant on amounts due them for 60 days service prior to his appointment as Receiver, and all judgments holding 4 prior lien, and out of the balance he shall first pay to himself as Receiver the sum of $2 op SK __, and to his attorney the sum offAoo sz» and the remainder he shall pay to the general creditors pro rata, and he shall file his final account with the Clerk of Superior Court, Iredell County. Signed at Chambers, thia the ‘/ Gay of June, 1951. North Carolina, Iredell County. Im the Superior Court, June Jp, 1951. w.D.Turner, et Aas, j } -v8- | Receivers Report. } j Armfield Veneer Co. fo the Honorable Superior Court: The undersigned Recéiver of the Armfield Veneer Company begs leave to submit his final report in the above matter. l. That he has filed in the Sugericr Vourt the inventory and accounts heretofore as will appear by the records in the Clerk's office of said Court. 2. That by the order of the Court made in the above matter he undertook to operate the plant of the defendant, beginning from the time of his appointment about August 1, 1930 up to the present time, and during said time he pee succeeded in operatizug same about three months of the time sad the balance of the time during said period the plant remained idle on account of the depressed conditions of the country. That he was unable to obtein amy orders thet would justify operating the plant as the makket for veneer was not available, and for this reason it could not be operated at a profit. for 5. That/the purpose of operating the plant he was authorised vw Offer sbs by order of Court to borrow $3,000.00, which he did, at s loss of $1,160.57 011 of which will appear by the account hereto attached, 4. Theat during the ten months that said plant has been in his hands es s Receiver he has endeavored to sell the same and after much effort he had not been adle to obtain any bids upon said one property, end the only bid which he has received shimuutax is/from J.M.Stuestdof $3,000.00 for the plant as a going concern; while is the opinion of the undersigned the consideration of $35,000.00 is Seadedente, as the value of the property is Ersases, but I find no market whatever for property of thie character and it is impossible under the present business conditions of the country to obtain « greater price, and in order to bring the matter to a head I reccommend that said bid be accepted by the Court . 6. I have submitted the above bid to 98 per cent of the creditors who recommend that the same be accepted. 6. As the Court will see from the account hereto attached that the Receiver has in hand for distribution $3,154.34; that out of this fund he is due and payable «a balance on insurance, $116.39, Lasenbdy-Montgomery Bdw. Co.,$1.75,Sigmore Steel Co. $69.55, Clerk hire $50.00,for timber $96.90, balance on borrowed money $2,000.00, making & total of $2,336.59, which leaves a balamee in the hands of the Receiver of $017.75. Te sale of plant,if confirmed $5,000.00, making a total in my hands of @S,@22x25x $35,617.76 Prefered claims. Taxes $205.63 Cost of suit abdout 30.00 One Judgment 266.18 Cost of same 7.75 Laborers 552.00 $1041.56 Balance in hand for distribution -<98-- a nn--ncnnnnnnu--- $2,776.19 Subject to such allowance as the Court may make for the Recéiver and his attorney. 7. The aggreate amount of the general creditors is $50,058.16. The amount payable to the creditors pro rata is about 7 and 4/5 per cent. The exact figure he is unable to state until the allowance to thé Néceiver and the attorney is made, and perhaps the amount of cost im the suit and etc. which is te be taken off. Respectfully submitted, \ AN ACCOUNT OF THE OPERATION OF THE PLANT OF THE ARMFIELD VENEER ‘CO. “sane ee ee ee 8 Al Inventory as of July 51, 1930 Supplies & Fistures $1302.05 Timber on hand 250.28 Finished veneers on hand 1203.39 Cash in Bank 72.44 Accounts Receivable 900,00 Unexpired ineurance 407.88 Inventory as of June 10, 1951 Supplies & Fixtures $1302.05 Cash in Bank 1538 .82 Unexpired Insurance 344.29 Stock on hand (Cut Downs 170 ° ° per 34,00 11000! of 1/8" @ $4.00 per M 44.00 7000! of 3/16" @ $7.00 per M 49.00 40000! of blis. Poplar @ $10.00 400,00 12000' of Blis. Maple @ $10.00 120.00 Accounts Receivable Hickory Furn. Co. $1616.80 less $100 est. frt. & disc. 1516.80 Imperial Furn,. Co. 98.72 Total Inv. 6/10/31 . Less total Inv. 7/31/30 4136.03 Result of 10 mo. operation Bal Due on note Taxes Bal. on insurance Lazenvy-Mont. Sdw. Co. Signode Steel Strap. Co. Car timber from K & L Less result 10 mo operation 1311.65 Loss ° Cash in Bank $1538 .82 Accounts Receivable 1715.52 Less estimated frt. 7 disc. | on Hickory F, vo, Inv. 100.00 “—$sIst sr Accounts pgyable Bal. due on note $2000.00 a Taxes 205.63 Bal. on insmrance 116.39 Lazenby-Mont. Hdw. Co. 1.75 Signode Steel Strap. Cp. 69.55 Clerk H,re 50.00 Attorney & Receiver fee Preferred claims: Judgment 266.18 Cost of judgment 7.75 ¢— Labor 32.00 Court Cost Car timber K & L ~~ 98.00 ~~ $eo48.15 Judgmant; Principal $242.33 Int. from Oct. 21, 1921 23.85 5 Ee Cost $7,75 North Carolina Superior Court Iredell County June 22, 1931 W. D. Turner and others Final vs Armfield Veneer Company ( ) ( ) ( ) To the Superior Court: Clarence Stimpson, Recei report of Receiver ver of the Armfield Veneer Company, in account withe the Court on final settlement, this the 22nd day of June, 1951. Cash on hand August 1, 1950 Borrowed from First National Bank Credits: Paid First National Bank Taxes Balance on insmmance Lazenby-Montgomery Hdw. Co. Signode Steel Strapping Co. Clerk Hire K & L Panel Co. timber To sale of plant (See report) Paid following preferred claims; Judgment Signode Steel Strap. to Clerk of Court June 17, 19 To labap June 17, 1931 Clerk of Court-costs J. Me. Stewart ( Labor) Receiver's Commission Ww. D. Turner, Att'y Deed to purchaser County Tax 1929 Paid to General Creditors 6.5 (See attached list) $ 972.43 5000 . 00 $5000.00 205.63 — 116.359 1.75 69.55 50.00 98.90 3542.22 T3021 3000 .00 Co. $1 $274.21 * 32.00 10.00 500.00 200.00 200.00 2.50 266.68 $1485.39 4 frees espectfully, submitted a eceiver LIST OF THE GENERAL CREDITORS OF THE ARMFIELD VENEER COMPANY Lazenby-Monty Hdw. Co(Conner-Bryant$ 9.61 Brady Printing Company S280 City of Statesville 12.76 Coe Manufacturing Co. 26.00 Charlotte Supply Co. 119.07 Carolina Lumber & Timber Co. 267.88 John Cook 249.53 Rufus Givens 90.94 Guilford Machine Works 75.00 Harwood Bros. 36.00 Holland Bros. 147.80 Kester Machinery Co. 19.78 A. R. Kampf 137.47 Willie Lloyd 9.46 C. A. Masso-laboratories 12.50 J. M. Martin 67.49 Edgar Marsh 213.22 A. P. McCormick 83.57 M. H. Pate 75.74 C. B. Reavis 81.54 J. B. Rodgers Co. 172.50 Statesville Realty & Inv. Co. 53.10 J. C. Steele & Sons 103.65 Statesville Drug Company 2.15 Sou. Bell-Tel & Tel Co. . : 11.86 W. F. Thompson 742.00 J. M. Taylor Machine Co. 14.40 Cc. H. Turner 37.75 Thomas & Lackey 89.42 Union Log Company 600 .00 W. O. Hampton 275.45 S. E. Elliott 180.80 Will Holt.claw 147.10 J. M. Stewart 395.61 W. D. Turner 6930.00 WwW. D. Turner & First National Bk. 17850.00 Citizens Bank of Cleveland 265.00 Bill of Coste—Civil—Printed and for ale by Brady Printing Co., Statesville, N. C. Original Summons, or other original process, includ- Judgment Against | Judgment final intermtime - - - } Docketing ex parte Proceedings - - ing all names therein - ‘ a _ Every copy of same « i es . Filing Complaint and Affidavit i. re } Filing Answers and Affidavit a“ Bond, including Justification - < Appeal from Justices ~- ~ = Appeal from Clerk to Judge - me Order for enlarging time of pleading Interlocutory Orders - a 2 “ Attachment, Order in - . a Injunction Order, including Bond and Justification 1.00 | Order of Ar-est . - - - 1.00 i Subpoena, each name - a ~ _ 15 |] Notifying Soliciter of Removal of Guardian 1.00 | } Continuance = - - - - - - -30 I | Caveat to a will, entering and docketing - 1.00 § Issuing Commision - a Fa - 75 tf } Affidavit, including Jurat and Certificate - 25 Seal ° - a ~ - a 7 i Motion, Entry and Record of - * . | Notice i _ a S Sd ~ Notice, for each name over one in same paper Impaneling Jury - a Justification of Sureties, ensept as s otherwise provided . o - - “ a Judgment final before Clerk - - — Judgment in favor of Widow’s Year’s Support - Docketing same. - « - - Docketing Judgment ~ a Docketing Summons . ° Indexing Judgment 50 0 50 50 25 50 25 25 10 10 & Execution of Sheriff's Return - 450 Appeal to Supreme Court, —_—* Certificate and<— Beal . 2.00 Transcript to Supreme Court copy sheets, each .10 } County Tax, when jury ’ 8.00 Defendant's Witnesses ai se a ee ai ee ee ee se a CIVIL DOCKET. BILL OF COSTS--CIVIL. (As Fixed by the Code.) STATESVILLE, N. C i his To THE STATESVILLE DAILY Pr. ADVERTISING RATES PEGRAM A. BRYANT, PROPRIETOR FURNISHED ON APPLICATION PUBLISHED EVERY-WEEK-DAY NORTH CAROLINA IREDELL COUNTY In the Matter of Macon Simons, Trustee of H. H. Jones. Notice of Sale. To the Honorable John L. Milholland, Clerk Superior Court; Macon Simons, Trustee of H. "%. Jones, Respectfully returns and shows that the personal property of H. H. Jones, an inventory of which is on file in this offtoe, after being duly advertised according to law was sold at public auction to the highest bidder in front of the courthouse at 12:10 noon, October 16, 1933. There being only one bid turned in and this by Robert A. Collier for $5.00, this sale is submitted for confirmation. Dawns bt rf? ve srustvee NORTH CAROLINA IN THE SUPERIOR COURT : IREDELL COUNTY Before the Clerk In the matter of Macon M. Simons, ) Trustee of H. H. Jones, trading as ) OR DBR H. H. Jones Candy Company. ) This cause coming on to be heard and being heard before Hon. John L. Milholiand, Clerk of Superior Court, and it apyearing from the report of of Macon WM. Simons, Trustee, that he has received a bid of Five Dollars (35.00) from Robert A. Collier for aii the stocx of goods except those under mortgage; and it further appearing to the court that the said bid is fair and reasonable and that the trustee recommends the acceptance of said bid. Now, therefore, it considered, ordered, and decreed that the bid of Robert A. Collier of Five Dollars ($5.00) for the stock of goods not under mortgage be, and the same as, hereby approved and confirmed and Macon M. Simons, Trustee, is authorized, emvowered and directed to deliver to the respective party a bill of sale for the property embraced therein. er uperior vUour NORTH CAROLINA IN THE SUPERIOR COURT _IREDELL COUNTY Before the Clerk ) {In the matter of Macon M. Simons, ) ) Trusvee of H, H. Jones, trading ) ) ) as H. H. Jones Candy Company. This cause coming on to be heard and being heard before Honorable John L. Milholland, Clerk of Superior Court, and it appearing from the report of Macon M, Simons, Trustee, that the sale of all the stock of goods except those under mortgage was made to Robert A. Collter for the sum of Five Dollars ($5.00) and the same confirmed by the court and duly registered in the office of the Glerk. Now, therefore, the said sum of Five Dollars ($5.00) received for the stock of goods by the Trustee was expended as follows: To the Statesville Daily for advertising notice to ereditors <<<- <----<-- woe eee were een= yor registration of Deed of Assignment For Court Costs 4.509 y Total #4 5.00 and there being no further assets, and receipts for the above payments being attatched hereto, and all claims having been duly filed with the Court, the said Macon M, Simons, Trustee, petitions the Gourt for «4 complete discharge. Now, therefore, it considered, ordered, and decreed that the petition for discharge of Macon M. Simons, Trustee, be, and the same is here- by approved and confirmed. Hp } NORTH CAROLINA IN THE SUPERIOR COURT Before the Clerk IREDELL COUNTY In the matter of John R. McLaughlin, ) Trustee of Belle 0. Travis, trading ) REPORT AND PETITION as Travis Grocery Company ) TO HONORABEE JOHN L. MILHOLLAND? CLERK SUPERIOR COURT: Your petitioner, John R. McLaughlin, Trustee of Belle 0. Travis, trading as Travis Grocery Company, respect- fully shows to the Gourt that under the terms of a certain written inetradsat given by Belle 0. Travis, trading as Travis Grocery Company, to John R. McLaughlin, Trustee, which instru- ment is recorded in the office of the Register of Deeds of Iredell County in Book 109 at Page 269, your petitioner is em- powered to sell any and all property therein mentioned; that he has received a bid of One Hundred and One Dollars ($101.00) for the stock of goods from Albert Cooper and a bid of Six Hundfed Dollars ($600.00) for the fixtures from Elliott Electric Company; that your petitioner is of the opinion that both of the foregoing bids are fair and reasonable and that the parties making said bids are ready, able, and willing to make payment; that under the terms of the instrument above referred to your petitioner is directed to disburse the funds coming into his hands in accordance therewith, retaining for himself as colpens- ation for his services a commission of five per centum on all receipts and disbursements. WHEREFORE, your petitioner prays the Court that it make order approving and confirming the sale of the stock of goods to Albert Cooper for the sum of One Hundred and One Dollars ($101.00) and the sale of the fixtures to Elliott Electric Company for the sum of Six Hundred Dollars ($600.00) and upon payment of the purchaee price authorize the delivery of a bill of sale. And your petitioner further prays the Court that upon payment of the purchase price he be directed to disburse the funds in his hands in accordance with the terms of the fIn- strument referred to in the foregoing petition, file a final account of receipts and disbursements, and be discharged. This the Ihaay of Au Sworn to a this the / NORTH CAROLINA IN THE SUPERIOR COURT Before the Clerk TREDELL COUNTY In the matter of John R. McLaughlin, ) Trustee of Belle 0. Travis, trading ) ORDER as Travis Grocery Company ) «- This amine coming on to be heard and being heard before Hon. John L. Milholland, Clerk of the Superior Court, and it appearing to the Court from the report and petitioneof John R. McLaughlin, Trustee, that he has received a bid of One Hundred and One Dollars ($101.00) for the stock of goods from Albert Cooper and a bid of Six Hundred Dollars ($600.00) for the fixtures from Elliott Electric Company; and it further appearing to the Court from the petition that both of said bids are fair and reasonable and that the Trustee recom- mends the acceptance of both of said bids; and it further appearing to the Court that the instrument of assignment to .the said gogn R. McLaughlin directs the disposition of the funds coming into his hands in his capacity as Trustee. Now, therefore, it considered, ordered, and de- creed that the bid of Albert Cooper of One Hundred and One Dollars ($101.00) for the stock of goods and the bid of Elliott Electric Company of Six Hundred Dollars ($600.00) be, and the same are, hereby approved and confirmed and John RK. McLaughlin, Trustee, is authorized, empowered and directed to deliver to the respective parties bills of sale for the property embraced therein. And it is further condidered, ordered, and decreed that John R. McLaughlin, Trustee, disburse the funds in his hands as trustee in accordance with the terms of the instrument in referred to/the report and petition and file a final account of receipts and ee ee be discharged. This the [easy of August, 1933. —_— In The Matter Of John 2. Mclaughlin, Trustee Of Belle 0. Travis, Trading as Travis Grocery Company La TO HONORABLE JOHN L. MILHOLLAND, CLERK OF THE SUPERIOR COURT: John R, MoLanughain, Trustee of Belle 0. Travis, trading as Travis Grocery Company, respectfully returns and shows, upon oath, that the following is a just, true and perfect inventory of the stock of merchandise end fixtures belong ing to the said Belle 0. Travis, trading as Travis Grocery Company, which has come into the hands of the said Trustee or into the hands of my person for him. The value of the fixtures are estimated as there is no way to tell the exact value. The merchandise is listed at retail price. MERCHAN DI SB 1 5/6 Oz. Navy Snuff 1 3/4 Oz. Society Smurf 13/6" Brutons "*" 15/6 * Reed Seal * 11/2 * Square ® 11/2" Superior * Packages Torch Light Chewing Tobacco Can Prince Albert Gmoking Tobacco Packages Model Smoking Tobacco * Country Gentlemen Smoking Tobacco Plugs Apple Chewing Tobacco Cuts Com Bread Chewing Tobacco Writing Tablets Sticks Good Lueck Sticks Kutty Hunk 5lue Note Books Packagés Loose Leaf Paper Sterno Cook-Stove Boaes Depéndable Matches Boles Strikalite * Cans Apricots Applesauce Peaches Grapefruit Logan berries Raspberries Pineapple € Fruits for sealed Pineapple Pineapple Peaches Cans Peaches Ss : 3 4 1 ll 12 + ll 6 14 1 2 4 7 6 2 6 13 3 20 8 2 2 3 42 23 3S 7 1 25 6 5 23 4 10 ll 9 2 * 10 3 12 63 60 60 3 1 8 8 . 4 z + a 2 8 31 1 5 + 17 10 10 5 5 ee 4 7 i 22 Cans Peaches # * " Lima Beans " Silver Nip * Peeled Apricots * L. Crushed Pineapple " L. Peach & Pineapple Preserves " Sliced Pineapple *" Crushed ° *" Yellow Cling Peaches * L. Fruite for Salad D. Fruits for Salad Le Fruits for Salad Toma toes " Spaghetti " Bartlett Pears Jars Shr imp 7 . Cans "* © Herring Boo " Baked Beans Bottles Tomato Catchup Cans Kidney Beans 7 " * * . = ° Spaghetti * Hominy " Sauer Kraut " Baked Beans * Salmon " Tomato Juice Bottles Chile Sauce Cans Baked Seans " Apricots Oysters Clam Chowder Fiah Roe crab Meat So « Pet Milk, Small * Carnation Milk " Sliced Apples " Apple Butter * Spinach * Mized Vege tables * Corn ( Ki tehenette) e ut * 8 * Okra * Btringless Beans ? te *” ” * Kraut * Asparagus * - " Corns (Kitchenette) " Gerbers (Spinach, Peas, Tomatoes) " Beans " Peas (Mayfiel 4) * Com * Peas * Corn * Peas * Dice Beats * Cream of Tomato Soup * Fish re Cans Salmon Cooked Lunch foungues Steak & Onions Red Hot Tamales Cans Com Cans Stringless Beans (Lord Fairfax) Cans Pumpkin Cans Muscat Grapes ( Del Monte) " Carnation Milk, large " Pet Milk, large " Milk * Deirylea Milk * Peanut Sutter " Hominy " Peas " Corn * Hominy * 8 * ae . ” Cans Sani Flush * Com " Apricots * Cherries " Blackberries * Potatoes " Beans * Meckerel * Potted Meat * Fish Salad " Tune Meat * Vegetables for Salad * Sardines " Oysters " Beans " Deviled Chickens * Deviled Shicken Cane Tune Fish Can Beans * Fig Pudding * Tongue " Eheese * Sardines * Plum Pudding Jar Pig Feet Cans Fish Flakes Box Devil Crab Shells Cans Co€ Fish Cakes * Mush Rooms * Beking Powler * Sardines © ng Powder . 6 2 4 3 15 8 8 8 17 34 11 3 8 12 6 2 1 1 3 5 8 4 1 1 1 18 2 3 2 7 6 * 6 4 3 7 3 5 3 9 . 6 1 10 zg 3 1 22 g 10 2 1 1 1 1 2 z 1 2 } 7 z a i 8 1 ~ 1 3 BSSSSS*SSSere* Ee Rereere - 19 6 5 2 1 1 1 1 3 1 a BS 17 5 6 1 ” 1 17 » ae 10 3 . 3 8 6 5 ll Q 2 1s 21 1 1 8 12 z 1 u 16 1 a 6 2 Cans Baking Powder 8 Sausage " Sausage © Meat loaf * Strawberries " Roast Beef * Cooked Brains * Tomato Paste " Olives * Duteh Cleanser Octagon Soap Cane Bed Devil Lye * Bab-0 Cleaner * Swmbrite Cleaner Boze 0. K. Washing Power © Grandma Washing Powler * Chi Cakes ap ” 2 = * * Cans Lye Bare 0. K.Soap * Soap ” Bome Oates Grape Bute Sexes Grits Brooms (Thrifty) Oats Whéle Theat Biscuit Gorn Flekes Boxes BH. B. ©. Brackers, 2 lbs. * Premium Grackers, 1 1d. Cans White Beans Begs Salt Cans Coffee * Beye Meg. Cans Shelled Valout Boxes Raisins * Rice Fiakes Bottle Almonds ” Almonds Boxes Cinnamon (Sauer's) " Fairfax Hall Pepper * Bpeem Salts * Vieks Salve ¥ Bulphur Bottles Axtrect (Saver's) ? * (Try Me) Boxes All-Spice (Bee Brand) 6 3 8 8 1 2 4 2 8 5 3 . * 35 ? 1 3 3 2 3 2 z 6 z 3 7 2 8 8 5 2 2 o 12 8 13 ~ See eravoee te ~ g~-egrEcerRy= “Ve@@rreteartnuar @ Boxes Cloves (Durkee) " Turmeric * Whole Celeryseed (Bee Brani) * Cinnamon * Cloves * White Pepper ( Bee Brand ) * Postum Cereal Bottles Lemn Boxes Brille Light Bulbs Space Thread Boms Peer Barley " Matches Bottles Olives Box Figs Bottles Orange Juice Bottles Pidkhes Cans Malted Milk ” * * Bozms Cake Flour Boxes Raisins (Sun Maid) = os ° " {( Libby's) Bottles Flavoring Extract (Sauer's) Cans Black Pepper Bhole Pepper Boxes Mustard Seed Cans Nutmeg Boxes Ginger * Whole All-Spice " Thyme " Spice * Celery Seed Bottles Sastor 011 Bottles Turpentine Bome Agpirin Boxes Cake Flour Hershey Chocolate Bars Chocolate Box Pancake Flour Boxes Tapioccs * Jello * Brown Suger " Wutmeg * Cane Sugar (Domino) * Tooth picks * Borax ” " Silver Polish * Sugr Cans Coconut * * Bon-4mi Cakes Bon-4mi Boxes Salt * Brown Suga? * Farina * puffed Rice Cans Chocolate Syrup Bottles Belish Boxes Cocoa a ” - J Jer Aelish Can Coma ” ” Jare Sour Pickles * Sweet . 1 2a 10 a 15 2 1 a 3 1 1 % 1 9 33 13 zg 2 5 4 ? 1 31 5 10 1 1 32 11 15 7 a 21 40 31 2 3 3 3 5 5 2 + 6 2 2 8 2 5” 14 3 1 18 6 no 1 22 6 1 2 53 1 ae 1 1 3 2 zg Jer Peamt Sutter Boxes Breakfast Seat " Sugar Jars Apple butter * Relish " Mince Meat " peach Preserves * Pickles Boxes Sugar Box Egg Noodles " Pot Pie Bows ° Waxtex Jar Relish " Pickles a Ww Fly Killers Bottles Castoria * Sloan's Liniment Boxes Salts Bottles Chill Tonic Bottles Cough Syrup Box Gelatin Boxes Junket * Gelatin " Ice Cream Pewier " Dessert " mi-Gel Fly Catchers Boxes Shoe Polish : Linit Starch * Salt Crisco - Cane Postum e ” Cereal * Boxes Color Paste Bottle8 Pepper Seuce Boxes Fruit Jar tops Boxes Rubbers sage Sues Jars Wesson Oil Boxes Starch * Clothes Pins * Boda * Salt " Mealt-O Meal " wheat Hearts Cane Cooked "heat " eoffee " Coffee 7 ” "= ° (Stevenson's) Jere Ghila Sauce Can Sprup Pie (Golden Crown) O-K Washing Powder Box Washing Powder Cakes Soap _ Steel Fool Syrup Bottles 0-Sedar Cons Honey Syrup Cans Syrup «50 Bottles Syrup 2.00 Cans Syrup ‘ 2.06 we ° 59 Boxes Tea | 8.4? Box Tea 239 * ® 1-14 Cens Syrup 1.50 Boxes Tea 1.02 * * 014 " e 263 et (Vesper) 1-40 e Supe r-Suds 3-06 * Washing Power 3.70 0-Cedar Mops Cakes Soap 1.25 Bottles Amonie Cakes Soap 1.08 Boxes Beads 18 * Rinso -18 “ Chipso «57 Bags Tea x 1-75 Cans Tea 1-52 Boxes Lux 266 * Tea 1.56 « «20 " 4.29 * 253 * Grape Nuts 1.50 * Bran 91 " Crackele 1.68 Bottles Mecurochrame +4 Rolls Toilet Paper 70 * 7” - 1-36 Sars 0. K. Soap 3. 00 Eetimated value of mixed cakes and packages of cakes 2. 80 ° ” * Candy in packages and bulk 9.00 5 8 7 1 13 1 6 2 6 2 7 14 34 74 6. 50 8 12 2 2 3 7 8 6 * 1 u 1 15 7 13 9 14 27 60 TOTAL $ 429.28 Estimated value of all fixtures 500.00 TOTAL OF MERCHANDISE AND FIXTURES $ 929.26 sojsn | Se6l NORTH CAROLINA IREDELL COUNTY Re: Indenture dated September 1, 1930, ) registered in Book 88, page 162, in the office of the Register of Deeds for Iredell County, North APPOINTMENT OF Carolina, from Turner Manufactur- SUCCESSOR TRUSTEE. ) ing Company, a corporation, to In- dependence Trust Company, Trustee. It appearing that by written resignation dated May 1l, 1935, filed with Turner Manufacturing Company, of Statesville, North Carolina, on May 14, 1935, and effective June 15, 19355, | Gurney P. Hood, Commissioner of Banks of North Carolina, on re= lation of Independence Trust Company, of Charlotte, North Caro- lina, duly resigned as party of the second part ang Trustee under the aforesaid Indenture dated September 1, 1950, registered in Book 88, page 162, Iredell kKegistry, executed by Turner Manufec- turing Company, all in accordance with the provisions of Article VIII, Section 1, of said Indenture, the eriginal of such writtem resignation and of Turner Manufacturing Company's written accept- ance thereof being hereto attached and by reference made a part hereof. And it appearing further that the aforesaid Indenture describes and secures an authorized issue of bonds of said Turner Manufacturing Company in the aggregate fuss principal amount of $90,000.00. And it appearing further that the owners and holders of a majority of the face principal amount of the outstanding bonds described in and secured by the aforesaid Indenture, to wit, the owners and holders of outstanding bonds of the aggregate face principal amount of $50,308.42 have fited with the undersigned petitions asking the undersigned Clerk of the Superior Ceurt of “a Iredell County, North Carolina, in the exercise of the power md authority vested in him by the provisions of Article VIII, Section 3, of the aforesaid Indenture, to name and appoint R. 8S. Dickson, of Charlotte, North Carolina, as new and successor Trustee in the a place and stead of said Independence Trust Company under the aforesaid Indenture, the original petitions of the owners and holders of bonds aggregating said face principal amount of $50,308.42 being hereto attached and by reference made a part hereof: NOW, THEREFORE, By reason of the attached re- signation and acceptance thereof, and by reason of the attached petitions, and in the exercise of the power and authority vested in me by the provisions of Article VIII, Section 3, of the afore- said Indenture, I, John L. Milholland, Clerk of the Superior Court of Iredell County, North Carolina, do hereby name and appoint R. S. Dickson, of Charlotte, North Carolina, as new and successor Trustee under the terms of the aforesaid Indenture dated September 1, 1930, registered in Book 88, page 162, Iredell Registry, in the place and stead of Independence Trust Company, of Charlotte, North Carolina, the original Trustee whose resignation has been accepted. This the 2 [ oa of August, 1955. yy ALUM f AL Ce, Lrede y, North Carolina. ACKNOWLEDGMENT OF NOTICE I, W. B. Tyer, Agent of Gurney P. Hood, Commissioner of Banks of North Carolina, and Liquidating Agent of Independence Trust Company of Charlotte, North Carolina, the Independence Trust Company having been original Trustee under the terms of the afore-~ said Indenture dated September 1, 1950, registered in Book 88, page 162, Iredell Registry, hereby acknowledge that I have received five days' notice of the foregoing appointment by the Clerk of the Super- for Court of Iredell County, North Carolina, of R. S. Dickson, of Charlotte, North Carolina, as new and successor Trustee in the place and stead of Independence Trust Company under the aforesaid Indenture, and that I interpose no objection to the appointment of said Re Se Dickson as such new or successor Trustee under the aforesaid Indenture as per the terms of the foregoing order or appointment. quida Trust Company. ACCEPTANCE OF APPOINTMENT SUCCESSOR TRUSTEE I, Re S. Dickson, of Charlotte, North Carolina, hereby accept the foregoing appointment by John L. Milholland, Clerk of the Superior Court of Iredell County, North Carolina, as party of the second part and successor Trustee in the place and stead of Independence Trust Company under the terms of the aforesaid Inden- ture dated September 1, 1930, registered in Book 88, page 162, Iredell Registry, executed by Turner Manufacturing Company. This Af day of August, 1935. WITNESS: RE ig AtxgrerZ ACKNOWLEDGEMENT OF NOTICE OF ACCEPTANCE OF APPOINTMENT BY SUCCESSOR TRUSTEE WU. B. Tyer, Liquidating Agent of Independence Trust Company, acting for and on behalf of Gurney P. Hood, Commissioner of Banks of North Yarolina, on relation of Independence Trust Com- pany, the Independence Trust Company having been the original Trustee under the terms of the aforesaid Indenture dated September 1, 1950, registered in Book 88, page 162, Iredell Registry, and Turner Manu- facturing Company, a corporation, the maker of the aforesaid Indenture ana of the bonds described therein and secured thereby, hereby ack- nowledge that R. S. Dickson, who has been appointed party of the second part and successor Trustee under the terms of the aforesaid Indenture, has é@xecuted and delivered to each of the undersigned an instrument in writing in which he accepts appointment as the the terms of the aforesaid Indenture. This the 2 f day of August, TURNER MANUFACTURING COMPANY ~~ Feweste Wecre gles ° Li . . NORTH CAROLINA MECKLENBURG CUUNTY Re: Indenture dated September 1, 1930, : « registered in Book 88, page 162, ! in the office of the Kegister of RESiGNAITLON OF INDEPEN- Deeds for Iredell County, North ) DENCE TRUST COMPANY AS Carolina, from Turner Mamufactur- } TRUSTEE. ing Company, a corporation, to In- dependence Trust Company, Trustee. Turner Manufacturing Company, Statesville, North Carolina. Gentlemen: The undersigned, to wit, Gurney P. Hood, Commissioner of Banks of North Carolina, took possession of Independence Trust Company, a North Carolina banking corporation having its principal office and place of business at Charlotte, North Carolina, and of its assets and affairs, on May 20, 1955, and now has possession of Independence Trust Company, and of its assets and affairs, for liquidation in accordance with law. Independence Trust Company ia the party of the second part and TRUSTEE’ under tne terms of that certain Indenture dated September 1, 1930, registered in Book 88, page 162, in the office of the Kegister of Deeds for Iredell County, North Carolina, exe- cuted and delivered by Turner Manufacturing sp yen a North Caro- ac lina corporation having its principal office and p e of business at-Steteaville, North Carolina. , Tne Independence Trust Company, being now in possession of Gurney P. Hood, Commissioner of Banks of North Carolina, for liquidation, and being now in process of liquidation, is not quali- fied to continue to act as party of the second part and TRUSTEE under the terms of said Indenture dated September 1, 1950, regis~- tered in Book 88, page 162, said registry, executed and delivered by said Turner Manufacturing Company. ACCORDiNGLY, In accordance with the provisions of ARTICLE VIII, Section 1, of said Indenture, dated September 1, 1950, regis- tered in Book 88, page 162, said registry, Gurney P. Hood, ‘ommissioner of Banks of North Carolina, on relation of Independence Trust Company, hereby resigns and files this his resignation and the resignation of Independence Trust Company as party of the second part and TRUSTEE, including all trusts imposed upon such party of the second part and TRUSTEE, under said Indenture dated September 1, 1950, registered in Book 88, page 162, said registry; and this resignation is to become etfective 30 days from the date of the filing of shis notice with Turner Manufacturing Company or on such earli late as the Turner Manufacturing Company may désignate and de Respectfully submitted, this Li day of May, 1955. GURNEY P. HOOD, CUMMISSLONER OF BANKS UF NORTH CAROLINA, ON RELATION OF IN- DEPENDENCE THUST COMPAN:, OF CHARLOUTE, NURTH CARULINA,, PARTY OF tHE SECOND PART AnD TKUSTEE UNDER INDENTURE DATED SEPTEM- BER 1, 1930, REGISTERED BOOK 88, PAGE 162 1 EXECUTED B PRN ER MANUF NORTH CAROLINA MECKLENBURG COUNTY Re: Indenture dated September 1, 1950, registered in Book 88, page 162, in the office of the Register of Deeds for Iredell County, North Carolina, from Turner Manufactur- ing Company, a corporation, to In- - dependence Trust Company, Trustee. ACCEPTANCE OF NULICE AND UF KRESIGNA'TLON BY TURNER MANUFACTURING COMPANY. Tne Turner Manufacturing Company, a North Carolina corporation having its principal office at Statesville, North Caroltna, to wit, the party of tne first part in that cer- tain Indenture dated September 1, 1950, registered in Book 88, ! page 162, Iredell County Registry, hereby acknowledges that the foregoing and attached written resi nation of Independence Trust Company and of Gurney P. Hood, © ssioner of Banks of North Carolina, on relation of Independence Trust Company, was duly filed with said Turner Manufacturing Company on the s¥ day of May, 1955; andthe Turner Mamfacturing Company agrees that the foregoing and attached written resignation of Independence Yrust Company and of Gurney P. Hood, Commissioner of Banks of North Carolina, on relation of Independence Trust Company, shall be and become effective as of the AJ day of » 1935. IN WITNESS WHEREOF, The Turner Manufacturing Company has caused this instrument to be executed in its name b its hh aorey 4 attested by its er and its corporate se i 3 s the Lae day of May, affixed, on t 5. TURNER MANUFACTURInG COMPANY BY resident Attest: “ re dinagd WORTH CAROLINA IN THE SUPERIOR COURT IREDELL COUNTY BEFOKE THE CLERK Ret Indenture dated September 1, 1930 registered in Book 68, page 162, in the office of the Register of PETITION FOR APPOINT? Deeds for Iredell County, North MENT OF SUCCESSOR Carolina, from Turner Manfacturing PRUSTRE Company, & corporation, te Independ) ence Trust Company, Trustee. ) ®0 THE CLERK OF THE SUPERIOR COURT OF IREDELL COUNTY: - wae Trust Company, of Charlotte, North Carolina, having resigned as Trustee under the aforesaid Indenture dated September 1, 1930, registered in Book 88, Page 162, Iredell Registry, in accordance with Articole 8, sectionl, of the afore- eaid Indenture, the undersigned owners and holders of bonds desoribed im and secured by the aforesaid Indenture of now file this theét® petition, in accordance with article 8, section 3, of the aforesaid indenture, asking that you name ani appoint RS. Diekson, of Charlotte, North Caroling, as new and successor trustee in the plece and stead of said Independence Trust Company umier the aforesaid Indenture. mis 3/<& @ay of July, 1925. Bie eS __, Owner ant Holder of Bonds nos. 73, 47. 45. for the face principal amount of $1,500.00 ws oe accel ys Hall oth GMa M tabtrh) WORTH CAROLINA IB THE “Ul?! RIOR COURT IREDELL COUNTY SEFORE THE CLERK Res indenture d:.ted september 1, 1930 ; registered in Book 88, pace 162, ia the effice of the egister of PETITICN FORAAPPOLIT = Deeds for iredell County, Horth VERT OF SUlCESSOR Cerolian, from Turner iienfecture ) TRUSTE. ing Company, & corporation, te ) pendence .rust Company os i TO THE CLERK CF THE SUPERIOR COUN® CF IREDELL COUNTY: Independencse Trust Comp.ny, of Charlette, North Careline having resigned as “rustee under the aforesaid indenutre éated September 1, 1930, registered in Book 88, Page 162, Iredell Registry, in accordance with Article 8, sectional, of the efere- said indenture, the undersigned owners ani heldere of bends Gesoribed in end secured by the aforesaid indenture @e now file this their petition, in accordance with artiole 8, section &, of the aforesei4 indenture, asking that you name and appoint KeSe Lickson 68 Cl.arlotte, North Carelina, as new and susecesser trustee i: the place and stead of said independence Trust Company under the eferesei4 Indenture, This 72 K Gey of July, 1936, ¥.C. Ervin » Owmer « Holder of Bonds AY/, 44.6.3, 26 me tS, At 19. 49,29 ~% 340 Boa. me s fex the face prine ipal Arlorg Cehe My Comrm'ssion @xpires Feb. 27th. 198 > + IN THE SUPERIOR COURT EEPORE THE CLERK PETITION POR APPOINTMENT OF SUCCESSOR TRUSTEE. TO THE CLERK @ THE SUPERIOR COURT OF IFEDELL Country: Independence Trust Company, of Charlotte, North Carolina having resigned as Trustee under the eforeesid Indenture dated September 1, 1930, registered in Book 88, Page 162, Iredell Regtetry, in eccerdanse with article & seetional, of the afore- e084 Indenture, the undereigned emnere and heldere of bonds Gesoribed in and secured by the eforeseid Indenture do naw Tile this their petition, in secerdance sith Article 8, section 3, Of the efereeaid Indenture, asking that you name and sppeint R.8. Dieksen of Gharlotte, Herth Carolina, as new and successor Trustee in the place and stead of said Independence Trust Owner ang of Bends — & TF, vl 7, WE + YY, 87 of the face principal NORTH CAROLINA IN THE GUPERIOR COURT IREDELL COUNTY bEFORY THE CLERK Re: Indenture dated september 1, 1930) registered in Book 88, page 162, ) in the office of the iegister of PETITION FORAAPPOINT= Deeds for liredell County, North MENT OF SUCCESSOR Carolian, from Turner ianfactur- ) TRUSTEE. ing Company, & corporation, to ) Independence rust Company, Trustee. TO THE CLERK CF Ti: SUPERIOR COURT CF IREDELL COUNTY: Independence Trust Comp:ny, of Charlette, North Carolina having resigned as lrustee under the aforesaid Indenutre dated September 1, 1930, registered in Book 88, Page 162, Iredell Registry, in acordance with Article 8 sectional, of the afore- said Indenture, the undersigned owners and holders of benis described in and secured by the aforesnvid Indenture do now file this their petition, in accordance with urticle 8, section 3, of the aforesaid Indenture, asking that you name and appoint ReS. Dickson @8 Charlotte, North Caralina, ec new and successer trustee ic the place and stead of said Independence Trust Company under the aforesaid Indenture. Mis 2g @uy of July, 1935 Firat Nations) Bank of GastjoMimer 4 Holder of Bonds Bos. __» fer the face principal Amourmt of $7,798.47 By ~~ TOrrisial Titles THE £IBSI NATIONAL BANK T N. C. AO ‘Agent for Trustees BOKTH GAROLINA if THE .U7P: RIOR COURT ARELELL JOUDTY SERVO). FHE CLERK Res indenture d-ted -eptender 1, 1930) registered in Soek 88, pace 162, in the effice of the .egister of PEPiT1C# TORsAPPOLse veede for .rodell county, Forth HES? OF SUlGESS0R 2Prelian, from Turne> | onfroture TRUSTER. -_ som eny, & Gorverntion, to sn@epencencc .rust Jvonmpanay, -ruatec. £O THE cLELK LF Th! SUPERIOR COURR WF IDSDELL CWNTYs independence -rust Comp: ny, of Jharlette, orth Carelina heving revigneé @a -rustee under the aforesaid indenutre éated September 1, 1990, registered ir Book 86, :oce 142, lredell Hegietry, in accordance with Article &, sectional, of the efere- solid indenture, the und«rois;med owners ani heléers of denis éeecribed in and secured by the aforesaid indenture Ge now Tile this their petition, in accorécaee with .rticle 3, section & ef the aforesaid indenture, acting that you nume ané appoiat tee Liakeon @8 -.arlotte, Sort! Cardlina, ee new end successor trustees 1 the -lcse ené stent cf soid inicpenfence Trust Company under the eforesciaé Intenture, This 4. y of July, 1935 dM, Wacner, estate 9 Oener « Roléer of Bonds Bee. _» for the foce principal smoumt of (1,000.00 NORTH CAROLINA IN THE SUPERIOR COURT IREDELL COUNTY BEFORE THE CLERK Re: Indenture dated September 1, 1930) registered in Book 88, page 162, in the office of the Register of PETITION FORAAPPOINT}- Deeds for Iredell County, North MENT OF SUCCESSOR Carolian, from Turner Manfactur-~- TRUSTEE. ing Company, a corporation, to Independence Trust Company, Trustee. io fO THE CLERK OF THE SUPERIOR COURT OF IREDELL COUNTY: Independence Trust Company, of Charlotte, North GUarolina having resigned as Trustee under the aforesaid Indenutre dated September 1, 1930, registered in Book 88, Page 162, Iredell Registry, in accordance with Article 8, sectional, of the afore- said Indenture, the undersigned owners and holders of bonds described in and secured by the aforesaid Indenture do now file this their petition, in accordance with Article 8, section 3, of the aforesaid Indenture, asking that you name and appoint R.S. Dickson #8 Charlotte, North Carolina, es new and successor trustee in the place and stead of said Independence Trust Company under the aforesaid Indenture, This day of July, 1935. Mr, J.¥. Norwood » Owner & Holder of Bonds Nos. __» for the face principal Amount of q 8.46).14 my iW Nero __ Cc e QORM CuRCLINA IB ME TOTeniok couRt IRRDELL OOURTY BEFORE VEE OER nea cise é dated jesptemter 1, 1930 Sewanee | oman ole BeeG@s for iredeli -ounty WCCES5OR TRUSTIE. Cerolica, fren Renee ie Sinan company, @ orporeti to a ence Trust Jompany, trostets @O Tit CiZAK F TRE TUPERIOR COUNT CF ANRMLALL COURTS ‘ Infepemtience -ruut Conpamy, of charlette, Herth Cerelina having rocigned oc Prustce under the -fereesid lndenutare dated September 1, 1930, recictcrea 1 Boek 08, 7a:e 168, iredell Recistry, in aocorG:mee wit? wticle 8 scctiarcl, of the efore= eai4é Indenture, tnc andersizne’d oenere av holécrs ef teade @escribed in ard seoqured By the aforeanid indenture @& now file thie their ,etiticaa, in e2 amunee with Artiele @, sestien 8, of the aforesaid Indenture, 11 > * ot 50 seme ant epretiat Revie Hhakwen of sherlette, serts “ereiines, @2 sew and Quecesser trustee in the please and sieck of said intependense Trust Company ender the eforessié intentare. This ~ 7 = eg @ iwy, 1936. Dr, E.L, Morrison a» “mer é Belfer of Sonés Rete Tor the face principal murat of (7,000.00 ae. o_o ay a= GORTH CAROLINA IN THE SUPERIOR COURT IREDELL COUNTY BEFORE THE CLERK Ret Indenture dated September 1, 1930 ; registered in Book 88, page 162, | im the office of the Register of PETITION FOR APPOINTMENT | Deeds fer Iredell County, North OF SUCCESSOR TRUSTEE. Gerolina, frem Turner Manfacturing Company, ® corporation, to Independ) ence Trust Company, Trustee. ) 70 THE CLERK OF THE SUPERIOR COURT OF IREDELL,COUNTY: Independence Trust Company, of Charlette, North Carelina having resigned as Trustee under the eforesaia Indenutare dated September 1, 1930, registered in Book 88, Page 162, Iredell Registry, in accordance with Articole 5, sestional, of the afore- eaid Indenture, the undersigne’ omers ani holders of bonis described in and secured by the aforesaid Indenture & now file this their petition, in ac ordance with Article 8, sectian @, of the aforesei4 Infenture, asking that you neme end eppeint R.Se Dickson of Charlotte, North Yerolina, as new and susecesser trustee in the place end steed of said Independence Trust Company under ae oe Fuet This / day of sulz/ 1935. Anns A Hall _» Omer & Holder of Bonds Bos. » for the face principal sawnas of 2,800 sy Onnse OC. “(Official Title) TO THE CLERE @ GE SUPERIOR COURT OF IIZDILS CounTYs In@spengence Trust Corpeny, of Cherlctte, Sorth Careline heving resigneé as Trustee under the eforcesi4 Indenture dated Septenber 1, 1950, registered in Sock 68, Page 162, Ireésli Registry, 10 escerdense with satiaie &, seetsonsl, of the efere- e014 Indenture, the unéereigned osnere and helésre of bonds deeortbed tn and eeoured by the eforemeié Indemture é0 nos file this their petition, in severdanss vith Artiale 6, seetion 3, of the eforeesid Indsuture, esking tuet you name ené appoint hb. Diemsen ef erlotte, Sgrth Cerelima, es ase snd successer Trustees in the plese end eteed of enid inéepengense Trust eupeny under the ofor-eaid Ladenturc . mis. ey of Maly 1956, Gein cTurnen: BECESESEIIES . oumer and Hel@er of Bends Mt. lw» Sow the face prinsipel == NORTH CAROLINA . IN THE SUPERIOR COURT IREDELL COUNTY BEFORE THE CLERK Re: Indenture dated September 1, 1930 & registered in Boek 88, page 162, in the office of the Register of PETITION FOR APPOINTS Deeds for Iredell County, North |} MENT OF SUCCESSOR - Carolina, from Turner Manfacturing) TRUSTEE Company, @ corporation, to Independ) ence Brust Company, Trustee. ) #0 ®HE CLERK OF THE SUPERIOR COURT OF IREDELL COUNTY: we frust Company, of Charlotte, North Carolina, having resigned as Trustee under the aforesaid Indenture dated September 1, 1930, registered in Book 88, Page 162, Iredell Registry, in accordance with Article 8, sestionl, of the afore- said Indenture, the undersigned owners and holders of bends described in and secured by the aforesaid indenture od now file this thest petition, ‘in accordance with Article 8, section 3, of the aforesaid Indenture, asking that you name ani appoint R.S. Diekson, of Charlotte, North Caroling, as new end successor trustee in the place and stead of said Independence Trust Company under the aforesaid Indenture, This iY ..2e day of July, 1925. Kate HN. Fairley » Owner and Holder of Bonds for the face principal STEWART & BosBitTtT ATTORNEYS AT LAW 223-227 LAW BUILDING CHARLOTTE, N.C. PLUMMER STEWART Wau. H. SoeeitT August 135, 1935 Re: Indenture dated September 1, 1930, registered in Book 88, page 162, Iredell Registry, from Turner Manufactur- ing Company to Independence Trust Company, Trustee. e**eeeneeeee eeenreeeeee Mr. C. He Turner, President, Turner Manufacturing Company, Statesville, North Carolina. Dear Sir: We received yesterday the petitions signed by owners and holders of outstanding bonds in the face prin- cipal amount of $49,108.42. Previously, we had received from R. 8. Dickson & Company a petition signed by Miss Kate N. Fairley as owner and holder of outstanding bonds in the face principal amount of $1200.00. We have prepared and enclose herewith a document entitled "APPOINTMENT OF SUCCESSOR TRUSTEE" to be signed by John L. Milholland, Esq., Clerk of the Superior Court of Iredell County. In an effort to comply with all pro- visions of Article VIII, Section 3, of this Indenture, we included on the form of "APPOINTMENT OF SUCCESSQR TRUSTEE" a form of “ACKNOWLEDGMENT OF NOTICE," already signed by W. Be Tyer, Liquidating Agent of Independence Trust Company, a form of "ACCEPTANCE OF APPOINTMENT BY SUCCESSOR TRUST already signed by R. S. Dickson, afid a form of “ACKNOWLEDG- MENT OF NOTICE OF ACCEPTANCE OF APPOINTMENT BY SUCCESSOR TRUSTEE," already signed by W. B. Tyer, Liquidating Agent _of Independence Trust Company, and to be signed in the name of Turner Manufacturing é ompany by its President, at-~- tested by its Secretary, and having its corporate seal af- fixed. Attached to the enclosed "APPOINTMENT OF SUCCESSOR TRUSTEE,“ and the aforesaid sccompanying forms, is Indepen- dence Trust Company's resignation, Turner Manufacturing Company's acceptance of notice of Independence Trust Company's resignation, and ten (10) separate signed petitions in which owners and holders of bonds aggregating the face principal amount of $50,308.42 ask that R. S. Dickson be appointed successor Trustee in the place and stead of Independence Trust Company. When completed by the signature of John L. Mil- < 2. holland, Clerk of the Superior Court of Iredell County, to be entered on page 2,and when duly executed by Turner Manufacturing Company in the manner indicated on page 4, it is our idea that the enclosed papers all of which are bound within one manuscript cover, should be filed in the office of the Clerk of the Superior Court of Iredell phage North Carolina, and recorded by him in said office, and indexed as a special proceeding. Also, we think a notation should be made on the margin of the record of the Indenture dated September 1, 1930, as it appears recorded in Book 88, page 162, Iredell Registry, substantially as follows: “See proceeding involving resignation of original Trustee (and the appointment of successor Trustee under this Indenture, recorded in Book 4 i page 5SZB3O , in the office of the Clerk of the Superior Yourt of tredell County, North Carolina." Please advise us when the several matters referred to herein have been completed. If you have any questions concerning any phase of this procedure please communicate with us with reference thereto. Yours very truly, STEWART & BOBBITT py HH Ort 4t Oe cine Oo aaiaie datir a “ft Kank hha, Clr Hgra aad dilex Ke Sppouctmand, pleases mart hi, dale ak othy, Mauk pacers NHB, woe Receiver 1937 1a * In the Superiof Court™ Hedea Pounty pefre his Honor, J A peeusseey - ~~ Holding courts of Fifteen Judicial District R. M. Brawley vs : Petition by the Receiver for Special R. M. Brawley and Company Order - Robert ff. Giles, Receiver of R. M. Brawley and Company, respectfully shows and petitions the court as follows: 1. That your petitioner is the duly qualified, acting and permanent Receiver of R. M, Brawley and Gompany, the defendant corporation, having been appointed a6 such by an order of the Superior @ourt in the above entitled action, and that he is now engaged in the discharge of his duties as said Receiver. 2. hat on oF about the se aay of Bohm 193% ani prior to the receivership, R- M.. Brawley and Gompany, executed a deed to Re . M. Brawley, conveying & lot of land in Coddle Greek Yownship, om Highway No. 21, to R. M. Brawley, which deed was duly recorded in the office of the Register of Deeds of Iredell County in pook //¥ page 72 » & COPY of said deed is attached to this petition, marked exhibit "a" and asked to be taken as a part nereof. a7 3. Tet R. M. Brawley, subsequently sold said lot of land, to the present owners, who are constructing @ house om said lot and are applying to the Mooresville Building end Loan Association, for a loan to finance said house, which is now in an advanced stage of construction. : 4. That the Attorney for the Building ami Lean, in abstract~ ing the title for the present owners, has discovered that the deed referred to and copy-of which is hereto attached has & defective acknowledgment on it, in thet R. M. Brewley, Jr-, &5 Secretary, acknowledged the deed as an individual instead of in his officiel capacity, ani failed to attach the corporate seal, 85 same appears on the records and orginal instrument. 5. That your petitioner is advised and believes, and therefore alleges mn of defect, and failure to attach seal of the deed, same is defective, notwithstanding the fact thet the deed has been delivered, would constitute a velid contract to convey same to purchaser therein, and R. M, Brawley having sold said lot, his rights " wre to the vesefit of the present 7 thereof, who, ere Mr. AY, . ena wife , Ad ber yerr 3. Phew Om, a eS 6. The it is nesessery and advisable, in order to carry out seid contract, thet the Reesiver be euthori zed, empowered and directed to execute a quit claim deed to the present owners and quit claim all right and title in the premises in 80 fer as R. M. Brawley and Company is concerned in order that the title te said premises may be legally vested in the present owners. WHEREFORE, petitioner pray® the court will make am order euthorizing and empowering Robert 7. Giles, as Receiver of R. M. Brawley and Gompany to execute a deed in settlemnt of any rights, conveying , ad qi tolaiming all the right and ti the of R. M. Brawley aud Company in the property as described in Exhibit “A"- All of which is respectfully ee Receiver of R. M. Brawley and Compeny North Carolina Orange Gounty Robert ¢. Giles, Receiver, being duly sworn, deposes and says that he has read the foregoing petition; that the facts set forth therein are true of his own knowledge except as to those matters and things therein stated upon information and belief ani as to those he believes it to be true. Swern ang. suveeribed to before me, thie,G~“Aday of June, 1957. : i; 703 Corn, nf, Coat. —~ North Carolina In the Superior Court Iredell County ai Before the Honorable Judge #JA.Rousseau R.M. Brawley { Holding Courts 15th.Judioial District vs t Order. R.M.Brawley a@nd Company { Upon the foregoing petition and after due con- | sideration,the Court finds that R.M.Brawley and Company,a corporatiog, has no interest in said premises;that through lack of understanding or knowledge, the deed executed by R.M.Brawley,copy of which is attached to the petition,was improperly executed,and that it is advisable and necessary in order to correct said deed that the Receiver be authorized and empowered to execute a quit claim deed to the present owners con- veying all right,title and interest of the defendant corporation in and to said tract of land. It is therefore now,ordered,adjudged and decreed that Robert T.Giles,Receiver of R.M.Brawley and Company,be and he is hereby authorized,empowered and directed for the purpose of correcting the acknowledgement of said deed set out in exhibit "A" to sign,exeoute and deliver,as Receiver on behalf of the defendant corporation,a quit claim deed to the present owners,relinquishing all right,title and interest on the part of the ocorporation,and conveying whatever right the cor- poration might have to said lands by reason of said defective deed,in full satisfaction of all rights of R.M.Brawley or his grantees by virtue thereof. Signed at di-+7 N.C. this /2 day of July 1937. Directed by the undersigned Judge holding courts of the Fifteeth Judicial District. Holding Courts Fifteenth Judicial District "Exhibit a" Warranty Deed This deed,made this 15th day of February 1936,by R.M.Brawley & Co. of Iredell County and State of North Caroline of the first part,to R.M.Brawley of Iredell County and State of North Carolina,of the, second part: WITNESSETH,That said R.M.Brawley & Co. One Hundred Dolllars,in consideration of Dollars,the receipt of whish is hereby acknowledged,have bargained and sold,and by these presents do grant,bargain,sell and convey to said R.M.Brawley heirs and assigns, @ certain tract or parcel of land in Iredéll County,State of North Carolina,adjoining the lands of Mrs.Maggie Neill and B.H.Honeyoutt, and others,and bounded as follows ,viz: Lying on the W. side of the A.T. & O.Ry and running parallel with the said Ry. 88.6" on E. end of lot and 91° on the W. end of the lot as shown on the map drawn by J.F.Gamble Surveyor;,this being lot no.9 on the said map,and the share of Mrs.Jane moore in the division of her father's estate. Being lot deeded to R.M.Brawley Co by Mrsa.Jane Moore Registered in Book 92 page 114. To have and to hold the aforesaid tract or parcel of land,and all privileges and appurtenances thereto belonging,to the said R.M. Brawley his heirs and assigns,to his only use and behoof forever. And the said R.M.Brawley & Co,for themselves and their heirs,ex- ecutors and administrators,covenants with said R.M.Brawley his heirs and assigns,that he is seized of said premises in fee and have the right to convey in fee simple;that the sane are free and clear of all enoumbrances and that do hereby forever warrant and will forever defend the sais title to the same against the claims of all persons whomsoever. IN TESTIMONY WHEREOF,The seid R.M.Brawley & Co have hereunto set their hands and seals,the day and year first above written. "Exhibit A" -cont. R.M.Brawley & Co. (Seal) H.L.Brawley Pres (Seal) R.M.Brawley,Jr. . (Seal) Attest: State of North Carolina,Iredell County. I,Julia E.McNeely Notary Public,do hereby certify that R.M.Brawley & Co & H.L.Brawley and R.M.Brawley,Jr.,personally appeared before me this day and acknowledged the due execution of the annexed Reed of Conveyance;and the said ,veing by me privately examined,separate and apart from her said husband, touching her vol- untary execution of the same,doth state that she signed the same freely and voluntarily,without fear or compulsion of her said hus- band,or ang other person,and that she doth still voluntarily assent thereto. Witness my hand and private seal,this 15th day of February A.D.1956 Julia E.MoNeely N.P. 2s. (Seal) My commission expires May 25-37. (Notary Seal) State of North Carolina,Iredell County. The foregoing certificate of Julia E.MoNeely Notary Public of Iredell County,is adjudged to be correct.Let the instrument with the certificates ve registered. Witness my hand end-offtetel, this 17 day of Feb.A.D.1936. Mildred Patterson Deputy Clerk Superior Court. Filed for registration on the 17 day of Feb.1936 at 4 o'clock P.M., and registered in the office of the Register of Deeds for Iredell County,N.C.,this 17 day of February 1936.at 4 o'clock P.M.,in Book 118 of Deeds,on page 90,etc. L.F.Ervin Register of Deeds By M.Henley Dept. NORTH CAROLINA IREDELL COUNTY In The Matter of W. R. Battley, Trustee of R. M. Rickert, trading as R. He. Rickert and Son. T0 HONORABLE C. G. SMITH, CLERK OF THE SUPERIOR COURT: W. R. Battley, Trustee of R. M. Rickert, trading as R. He Rickert and Son, respectfully returns and shows, upon oath, that the following is a just, true and perfect inventory of the stock of merchandise and fixtures belonging to the said R. M. Rickert, trading as R. H. Rickert and Son, which has come into the hands of the said Trustee, or into the hands of any person for him. The value of the fixtures is estimated as there is no way to determine the exact value. The stock of goods is listed at wholesale price, except in some instances where the items are old and have been on hand a number of years; these items are listed for the old gold or present day market value. STOCK Diamond Rings Gold wedding rings Men's wedding rings Ladies' rings, mixed stones Ladies' emblem rings Men's rings, mixed stones Men's emblem rings Rings (mountings) Baby rings Ladies' wrist watches Men's wrist watches Pocket watches Pocket watch cases Strap watch cases Ladies' wrist watch bands Men's wrist watch bands Chain knives Watch chains and waldemars Belt buckles Tie holders Brooch pin Baby locket and chains Ladies' compacts Ring and bracelet set Compact and comb set Desk seta Diamond and platinum brooch Masonic brooch Swank set Diamond bar pin BPRS REA SRSES we Pe REAPS —* PRRERRP PE °o 2 1 1 1 5 5 1 5 2 1 1 1 1 1 6 6 6 5 5 1 6 6 6 6 6 6 5 6 6 5 6 18 6 1 1 1 1 3 6 2 1 5 3 5 1 1 1 6 6 6 6 6 6 4 6 4 ” 1 1 1 1 6 5 6 Copper and pewter buffet set Powder box Salve jar Decanter Pottery vase Copper smoking set Oa@a crystal glasses Crystal coasters Powder jar Conserve Inkwell Glass vases Salt dishes Bedroom door knocker Bottle openers and corkscrews Rabbit cigarette holders Water bottle Lot pottery Brandy inhaler Flower frog Toothpowder container Sterling silver table spoons soup ® butter spreaders birth month spoons ice cream forks dessert forks e knives fruit knives Olive wood salad set berry spoon handle meat fork fish fork ” soup spoons * odd baby forks " food pushers Leman squeezer Ice tongs Tea strainers Odd mustard spoons Butter knife Salt dish Plated carving set - 3 piece sd ice cream forks orange sppons butter spreaders ice cream forks dessert spoons table spoons butter spreaders sugar spoons berry spoons bread knife cheese server jelly server Olive wood salad set knives - odd forks green handle knives e a o ee a-~ ou ee wa ao mn ee Sas e*ee oun PRY © © @ *eeesee#e# 3222%99399999988 Puruasuaae sborrasapagrsshobouspbbbbue SSSSSSSSSSSSaaSBSSSSES3SSS33 DrRaUNUaUaUaaa . skse 888 Diamond circle pin Diamond - platinum bar pin- Diamond bar pin Shrine brooch Diamond bar pin Diamond brooch Cameo brooch Lot (33) gold broochés Brooches Sets ear rings Lot baby pins Sets solid gold studs Dress clips Brooch Lot lockets and emblems Lot cuff links Pair diamond cuff links Lot emblem pins Emblem pins - diamond set Lot odd tie clasps Lot coin holders - gold Lot odd pins, smelling salts containers Lot belt buckles Lot bag tags Bracelets So1lM gold coat chains Pearl lavallier Crystal diamond pendant and chain Lot leather goods Silver chain Tie holders Military sets Scarf pins Silver cases (cigarette and vanity) Lighters Silver cigarette clasp Crosses and chains Minature locket case Ring and necklace set Cigarette case and lighter Diamond-platinum bracelet Diamond bracelet Bracelets Necklace-ear ring set Candle lamps Spanish vase Low candle lamps Spanish vase Bubble glass vase Cheese dishes Silver deposit dishes Sets salt and pepper shakers 16 piece set, plate silver - Rogers 32 piece get, e - Rogers a ® . - Commnity $3 ad ® e - Rogers es °° e ° ° - Wm.Rogers Gorham plate silver vegetable dish Sterling silver carving sets Set plated ice tea spoons Baby set ~ fork and spoon Pair sterling candle sticks Glass sandwich plate Table pencil holder Sterling silver vase: Sterling silver salt and peper " i Hp dish a cup 9 ° "bowl Pair sterling silver candlesticks Stbrling’ silver | vase tet be “a Perrier @ 1 5 2 1 1 1 5 1 7 1 1 1 1 1 8 2 1 1 1 1 1 2 1 5 2 1 2 1 1 1 1 1 2 1 4 1 5 i 5 2 8 ORO et ce 1 2 1 6 1 1 2 1 1 1 1 1 1 1 1 1 6 1 1 2 1 a 1 1 1 2 1 1 1 1 1 6 1 2 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 *&Oara-~aI NX OOF pS ~” Sterling silver Bowl . sugar holders cream and sugar tea balls basket dishes napkin holder salt and pepper cake stand nut set sandwich tray bowl mayonaise set & glass salt and pepper sauce dish ted relish dish pickle dish cocktail shaker meat platter basket sandwich tray Hors d'ouevre dish Glass-silver deposit candlesticks Pewter baby cup Pewter twe-candle holder Pewter cocktail shaker Pewter vegetable dish Pewter ice bucket Pewter liquers Pewter meat dish Plated salt and pepper Plated sauce boat Colored glass vase Plated meat platter Lot fireside matches Copper smoking set Plated and glass relish dish Frog ash tray Seth Thomas clock Plated base vase Old books - cigarette case Shaving stand Plated silver baskets Brass toasting fork Brass smoking set Bread tray Plated serving tray Roll basket Copper electric candle Blue enamel ® Sterling hat brush Lot candles Traveling kit Lot baskets, pottery Desk clock Clocks Thimbles Lot collar buttons Metal picture frames Pencias - metal Composition pencils Metal fountain pensz Fountain pens Fountain pens Fountain pens Pen and pencil sets Large pens Se aeeecaeseecas ee eae a) gaeesg Nut picks Tea makers ares tongs Knives Lot odd beads String pearls Lot odd silver boxes Gold bracelet Lot odd pins, etc. Baby teething rings, etc. Unbreakable crystal cabinet & crystals ° Cabinet and glass crystals 100. 12 drawer odd shaped cabinet &« crystal 100. Lot crystals 50. a 8838333%2999399 GdNdRKNWOHRKRA HEH =) © e PRR HUH RP HHH OID aM TOTAL $3,729.98 Estimated value of all fixtures $1,000.00 TOTAL e $4,723.98 There is quite a bit of property of no particular consequence in the cases, such as boxes, old jewelry and items of such nature as hat pins which have no value. This property is not listed and no value is placed on same. Respectfully submitted rustee Sworn to and subscribed before me this the 2nd day of April, 1937. . Gy ‘ eT a WoTany PUBLIC A “Shy ‘commission expires March 20th, 1937 a NORTH CAROLINA IN THE SUPERIOR COURT IREDELL COUNTY BEFORE THE CLERK In the Matter of W. R. Battley, , Trustee of R. M. Rickert, trading REPORT AND PETITION as R. H. Rickert and Son TO HONORABLE C. G. SMITH, CLERK OF THE SUPERIOR COURT: Your petitioner, W. R. Battley, Trustee, or Re. M. Rickert, trading as R. H. Rickert and Son, respect- fully shows to the Court that under the terms of a certain written instrument given by R. M. Rickert, trading as Re. He Rickert and Son, to W. Re. Battley, Trustee, which instrument is recorded in the office of the Register of Deeds for Iredell County in Book 123 at page 444, your petitioner is empowered to sell any and all property therein mentioned; that he has received a bid of Eighteen Hundred ($1800.00) Dollars for the stock of goods and the fixtures from John Mendelsohn; that your petitioner is of the opinion that the foregoing bid is a fair and reasonable one and that the parties making said bid are ready, able and willing to make payment; WHEREFORE, your petitioner prays the Court that it make an order approving and confirming the sale of the stock of goods and fixtures to John Mendelsohn for the sum of Eighteen Hundred ($1800.00) Dollars and upon payment of the purchase price authorize the delivery of the bill Sworn to and subscribed before fais thy 87$h Agy of April, 1937. oo of sale. NORTH CAROLINA IN THE SUPERIOR COURT IREDELL COUNTY BEFORE THE CLERK In the Matter of W. Re. Battley, | Trustee of R. M. Rickert, trading as R. H. Rickert and Son { This cause coming on to be heard and being heard before His Honor, C. G. Smith, Clerk of the Superior Court, and it appearing to the Court from the Report and Petition of W. R. Battley, Trustee, that he has received a bid of eighteen hundred ($1800.00) Dollars for the stock of goods and fixtures from John Mendelsohn; and it further appearing to the Court from the Petition that the said bid is a fair and reasonable one and that the Trustee recommends the acceptance thereof: NOW, THEREFORE, it is ordered, considered, adjudged and decreed that the bid of John Menielsohn of Eighteen Hundred ($1800.00) Dollars for thes tock of goods and fixtures be, and the same is, hereby approved and confirmed and W. R. Battley, Trustee, is hereby authorized, empowered and directed to deliver a bill of sale for the property upon payment of the purchase This the Fa day of Uf, 1987/77 Y { G7 / 7 money. NORTH CAROLINA IN THE SUPERIOR COURT IREDELL COUNTY BEFORE THE CLERK In the Matter of W. R. Battley, ‘ Trustee of R. M. Rickert, trading RR? ORF 6A as R. He Rickert and Son ' FR? 2 2 1 6 8 TO HONORABLE CARL G. SMITH, CLERK OF THE SUPERIOR COURT: The undersigned Trustee of R. M. Rickert, trading as R. H. Rickert and Son respectfully shows to the Court that pursuant to the authority contained in the Order entered herein on the 27th day of April, 1937, the Trustee sold the entire stock of goods and fixtures to John Mendelsohn for the sum of Eighteen Hundred ($1800.00) Dollars cash; that the said John Mendelsohn placed a value of over Five Hundred ($500.00) Dollars on the fixtures, and same was included in the bid of Eighteen Hundred ($1800.00) Dollars; that the Peoples Loan and Savings Bank was the owner and holder of two specific liens on the fixtures and one diamond ring in the amount of Four Hundred Dollars and Seventy-five Cents ($400.75); that the equity of your petitioner in the property covered by the specific lien justified a payment of full of these liens; That there are accounts and repair work due the Trustee herein and after making an investigation of said accounts and repair work said Trustee is of the opinion that there is only about $50 to $75.00 of said accounts and repair work collectible; that R. M. Rickert has offered the Trustee herein the sum of Seventy-five ($75.00) Dollars for the accounts and repair work, said Seventy-five ($75.00) Dollars to be deducted from the exemption allowed the said R. M. Rickert; that in the opinion of the Trustee the best interest of the creditors would be served by selling the accounts and repair work for the sum of Seventy-five ($75.00) Dollars; that John R. McLaughlin, Attorney at Law, Statesville, North Carolina has handled all necessary legal work in this matter and is entitled to compensation for his services; that R. M. Rickert assisted the Trustee in preparing the inventory of the stock of merchandise:and is entitled to compene— sation for said services: WHEREFORE, your petitioner prays the Court that it make an order authorizing and dire ting the Trustee to disburse the funds in his hands in accordance with the deed of assignment and after disbursing said funds to file a final account of receipts and disbursements and be discharged; that the Court make an order authorizing and directing the Trustee to sell the accounts and repair work to R. M. Rickert for the sum of Seventy-five ($75.00) Dollars, said sum to be deducted from the exemption allowed R. M. Rickert; that the Clerk make an allowance to John R. McLaughlin, Attorney for the Trustee, for legal services rendered, and an allowance to R.M.Rickert for five days assistance in preparing inventory. This the 15th day of September, 1957. PETITIONER NORTH CAROLINA IN THE SUPERIOR COURT IREDELL COUNTY BEFORE THE CLERK In the Matter of W. R. Battley, Trustee of R. M. Rickert, trading as R. H. Rickert and Son This cause coming on to be heard and being heard before His Honor, Carl G. Smith, Clerk of the Superior Court, and it appearing to the Court from the Report of W, R. Battley, Trustee, that he has sold the entire stock of goods and fixtures to John Mendelsohn for the sum of Eighteen Hundred ($1800.00) Dollars cash; and it further appearing to the Court that the Peoples Loan and Savings Bank of Statesville, North Carolina was the owner and holder of two specific liens upon the fixtures and one diamond ring and that the value of said property was excess of the amount of the lien and that the best interest of the creditors was served by paying said liens; and it further appearing that R. M. Rickert has offered the sum of Seventy-five ($75.00) Dollars for the accounts and repair work and that approximately $50.00 to $75.00 would be collectible on said accounts and repair work and that it is to the best interest of the creditors to sell said accounts and repair work to R. M. Rickert for the sum of Seventy-five ($75.00) Vollars; IT 1S, THEREFORE, ordered, considered, adjudged and decreed that the payment by W. R. Battley of Four Hundred Dollars and Seventy-five Cents ($400.75) in d scharge of the specific liens held by the Peoples Loan and Savings Bank of Statesville, North Carolina be and the same is in all respects hereby approved and confirmed; it is further ordered and decreed that W. R. Battley, Trustee, be and he is hereby authorized and directed to sell the accounts and repair work to R. M. Rickert for the sum of Seventy-five ($75.00) Dollars, said sum to be deducted from the exemption allowed R. M. Rickert; it is further ordered, that W. R. Battley, Trustee, disburse the other funds in accordance with the terms of the Deed of Assignment; it is further ordered, adjudged and decreed that W. R. Battley, Trustee, shall pay to John R. McLaughlin, Attorney, the sum of One Hundred ($100.00) Dollars as compensation for legal services rendered, and shall pay to Re M. Rickert the sum of Fifteen ($15.00) Dollars for assisting in the preparation of the inventory. It is further ordered and adjudged that W. R. Battley be, and he is hereby, allowed a commission of 5% on receipts and disbursements as compensation for his services. This the 15th day of September, 1937. oojsn | O61 North Carolina. Iredell County. TO H. L. NEWBOLD, TRUSTEE IN A DEED OF TRUST FROM K & L PANEL 00. 10 0. L. TURNER AND H. L. NEWBOLD, TRUSTEES, RECORDED IN BOOK 88 AT page 564, RECORDS OF IREDELL COUNTY: Take notice that the Clerk of the Superior Court of Iredell County will, after five days from this date, appoint a substitute Trustee to act for you in the matter of said deed of trust, as therein provided. This Nov. 20th, 1940. Crérk Sfperior Court Iredell County North Carolina. } Iredell County. | In the Matter of H. L. Newbold and O. L. Turner, Trustees in a Deed of Trust executed by K & L Panel RESIGNATION OF TRUSTEE Co. on Dec. 31, 1930, to 0. L. Turner and H. L. Newbold, Trustees, recorded in office of Register of Deeds of ~ Iredell County in Book 88 page 564. To the Honorable C. G. Smith, Clerk Superior Court of Iredell County: The undersigned, being one of the Trustees named in a certain deed of trust executed by K & L Panel Co., a corporation of Statesville, N. C., on the 3lst day of Dec. 1930, and recorded in the office of the Register of Deeds of Iredell County in Book 88 at page 564, do hereby renounce and resign my position as Trustee in said deed of trust on account of my removal from the State of North Carolina and my inability to act and I do hereby acknowledge notice from the Clerk of the Superior Court of Iredell County and waive all other notice provided for in said deed of trust for the appointment of a Successor Trustee, as therein provided. This Z22NpD day of November, 1940. State of Virginia. County of NEw PoRT NAws eiry Personally appeared before me, H. L. Newbold, Trustee, ani acknowledged the due execution by him of the foregoing instrument, résighing as Trustee in a certain Deed of Trust in Iredell County for the purposes therein expressed. Witness my hand and Notarial seal, this the 22Np day of Nov. 1940. Notary Public My commission expires Decl C™ aay i North Carolina. Iredell County. PETITION FOR APPOINTMENT OF SUBSTITUTE TRUSTEE In the Matter of H. L. Newbold and 0. L. Turner, Trustees. : To the Honorable C. G. Smith, Clerk Superior Court of Iredell County: The petition of L. C. Wagner respectfully shows to the Court: lst. That he is the holder and omer of a majority of the aggregate principal amount of the bonds of the K & L Panel Co. now out~- standing and secured by the trust:indenture executed by K & L Panel Co. to 0. L. Turner and H. L. Newbold, as Trustees, and duly recorded in the office of the Register of Deeds of Iredell County 4n Book 88 at page 564, being the omer of all of said bonds, except $1000.00 par value, out of a total of $43,000.00. 2nd. That Mr. H. L. Newbold, one of the Trustees named in said deed of trust, has, on account of his removal and absence from the State of North Carolina, resigned as Trustee in said deed of trust. 3rd. That five days' notice in writing has been served upon the said resigned Trustee, H. L. Newbold, by the Clerk of the Superior Court of Iredell County, North Carolina; that it is advisable and necessary that a substitute Trustee, in accordance with the terms and stipulations of said deed of trust, be appointed to act in the place of said resigned Trustee, H, L. Newbold. WHEREFORE, the petitioner prays that the Court will appoint a substitute Trustee in the place of H. L. Newbold, resigned, with all of the authority, rights, powers, duties, privileges, immnities and discretion provided for his predecessor Trustee. Respectfully submitted, L.CW. Owner off a Majority the Outstanding Bonds of K & L Panel Co. North Carolina. Iredell County. L. C. Wagner being duly sworn, deposes and says; that he has read the foregoing Petition ani that the same is true of his own knowledge, except as to those matters and things therein stated upon information and belief, and as to those, he believes it to be true. Sworn and subseribed before me, ’ ; f ; this Mar. 2.) , 1940. My comeission expires Que. %) /942. North Carolina In the S uperior Court Iredell County Before the Clerk. ’ In the Matter of H. L. Q Newbold and 0. L. Turmmer, {§ ORDER APPOINTING SUBSTITUTE TRUSTEE Trustees. " This cause coming on to be heard before the undersigned Clerk of the Superior Court of Iredell County, North Carolina, upon the petition of L. C., Wagner, the owner and holder of a majority of the bonds secured by the deed of trust from the K & L Panel Co. to H. Le Newbold and 0. L. Turner, Trustees, , dated Dec. 31, 1930, ami recorded in the office of the Register of Deeds of Iredell County in Book of Mortgages No. 88 at page 564, and it appearing to the Court that one of the Trustees named in said deed of trust, to-wit; H. L. Newbold, on account of his removal from the State of North Carolina, and his non-residence, has filed his resignation as Trustee in said deed of trust in writing; And it further appearing to the Court that five days' notice in writing has been served upon the said H. L. Newbold of the appointment of his successor amd said notice acknowledged and waived in writing and that it is advisable and necessary for this Court to appoint a substitute Trustee for H. L. Newbold who shall act with the remaining Trustee, 0. L. Turner; It is, therefore, now ordered, considered and adjudged that Ralien b On. Cmfitatte 99 and he is hereby appointed as substitute Trustee for H. L. Newbold, resigned Trustee, and the said substitute Trustee, acting with the remaining Trustee, O. L. Turner, shall be vested with all the authority, rights, powers, duties, privileges, immunities and discretion with reference to said deed of trust therein provided for his predecessor and shall be authorized and empowered to advertise and sell the property described in said deed of trust and upon a sale, to convey the same to the purchaser in accordance with the provisions of said deed of trust. It is further ordered that this judgment shell be recorded in the office of the Register of Deeds of Iredell County in the records of deeds, as provided by law. 1940. Witness my hand at Statesville, '. ©. on the day of ucvanber , North Carolina. Iredell County. I, do hereby accept the appointment as substitute Wewbold in the beforementioned deed of trust and agree to act as such Trustee and do herewith deliver a copy of this acceptance of said appointment to the K & L Panel Co. and to 0. L. Turner, the remaining Trustee. Orc. This i. oe > 3940. Substituged Trustee North Carolina. Iredell County. I, Dept. Clerk Superior Court, do hereby certify that personally apprpared before me this day and acknowledged the execution by him as Substitute Trustee of the foregoing Notice of Acceptance for the purposes therein expressed. Let the instrument, with this certificate, be recorded. Witness my hand, this the ang day of er, 1940. Superior Court Spaeq jo °2ey “peTsTsen pues OF oye Py Uy pepscsss “WHS eg: |?" “o PET so “sy ew uo uotzesystse1 JOJ pettad £,UNSD TTepei_£ *SUTTOIED UPON NORTH CAROLINA, In the Superior Court TREDELL COUNTY. Jesse M. Brown, et al, Stock- holders and Creditors, Va. PETITION FOR FINAL SETTLEMENT Brown Bag Company. TO THE HONORABLE J. H. CLEMENT, JUDGE HOLDING COURTS IN THE FIFTEENTH JUDICIAL DISTRICT: NOW COMES, C. H. Dearman, Receiver of the Brown Bag Company, and shows the Court: ata That by proper order of the Superior Court he was appointed Receiver of the Brown Bag Company, a corporation of Iredell County, North Carolina. x That in compliance with former orders of this Court, he has converted all the assets into cash, paid the preferred creditors, and is now in position to make disbursement to the common creditors in the amount of Twenty-three and one-half per cent (234%) of the approved claims filed with him. a= That in compliance with a former order of this Court, the stock of goods, machinery and fixtures were offered for public sale on 28 September, 1927, after advertisement according to law, and the sale was held subject to the confirmation of the Receiver and the Court; that the highest bid received was twenty-one per cent (21%) of the inventoried price, or Nine Hundred Five Dollars and Eighty-nine Cents ($905.89); that at the November 1927 Term of Superior Court of Iredell County, the Receiver recommended to the Court that the price received at the sale be not confirmed, and that he be permitted to sell the stock of goods, machinery and fixtures of the Brown Bag Company pri- vately. Based on the recommendation of the Receiver, the Judge Holding Court at the November 1927 Term of the Superior Court of Iredell County ordered that the sale be not confirmed, and empowered the Receiver to sell the stock of goods, machinery, fixtures and other assets of the Brown Bag Company privately. -4- The nature of the business of the Brown Bag Company was the manufac- turing of leather products; that at the time the Receiver took charge a large portion of the assets consisted of raw materials. In accordance with the order entered in the matter at the November 1927 Term of the Superior Court of Iredell County, the Receiver employed labor and manufactured a great number of articles, and sold them along with the other manufactured goods. By pursuing this method, he was able to convert the raw materials into manufactured goods, for which there was sale. After manufacturing several hundred dollars of products, and selling them at slightly above cost, he succeeded in selling the balance of the assets on 27 December, 1927, for the sum of Eleven Hundred Fifty Dollars ($1150.00). iat That in the conduct of the business, it was necessary for the Receiver to spend a large portion of his time in looking after the affairs of the Brown Bag Company; he was appointed Receiver on 17 July, 1927, and for two or three months after the public sale was not confirmed, he operated the business of the Brown Bag Company as above reported; that the Receiver feels that he should be entitled to some compensation for his services in addition to the usual and reg- ular commissions paid to him under the provisions of the statute. -6- That filed with the Court with this Petition is a proposed Final Set- tlement by the Receiver. WHEREFORE, The Receiver prays: 1. That an albowance be made to him of One Hundred Dollars ($100.00) as compensation for his services in the operation of the Brown Bag Company dur- ing the Receivership. 2. That an Order be entered directing final distribution to the common creditors. 3. For such other and further orders as the Court may deem neces- Receivér of Brown Bag Company. Subscribed and sworn to before me, this the 27th day of May, 1941. Rasen. Gheilaon ary Public. > ts ay csami,saion expires: Thiel ?, 1423. NORTH CAROLINA, In the Superior Court TREDELL COUNTY. Jesse M. Brown, et al, Stock- holders and Creditors, Vs. Brown Bag Company. This matter being heard upon the verified Petition and proposed Final Settlement of C. H. Dearman, Receiver of the Brown Bag Company, of States- ville, North Carolina, and it appearing that the Receiver has complied with the former orders of the Court, and converted the assets into cash, paid the pre- ferred creditors, and is in position to make final disbursement to the common creditors in the amount of Twenty-three and one-half per cent (234%) of the approved claims filed with him; that in compliance with former orders of the Court, the Receiver operated the business of the Brown Bag Company for several months, converting raw materials into finished products, which he sold along with the other assets of the debtor; that for this service he is entitled to compensation in addition to the usual and regular commissions provided by the statute; that the sum of One Hundred Dollars ($100.00) is a reasonable compen- sation for these services. IT IS, THEREFORE, ORDERED, ADJUDGED AND DECREED: l. That the Receiver be empowered to pay himself in addition to the usual and regular commissions provided by the statute, the sum of One Hundred Dollars ($100.00). 2. That he make final distribution of twenty-three and one-half per cent (234%) to the common creditors on the approved claims filed with him. This the 27th day of May, 1941. Judge 6 e eenth Judi strict. “ok 2.5- de 3KI-FSO NORTH CAROLINA IREDELL COUNTY In Re: kL. C. Wagner, H. A. Yount, * # RESIGNATION OF TRUSTEE and P. A. Sherrill, Trustees * Le. C. Wagner, the petitioner in this cause, respect- fully shows the Court: 1. That L. C. Wagner, H. A. Yount, and F. A. Sherrill were, on the lst day of July, 1950, appointed Trustees to. hold title to a certain tract of lend in Iredell County, North Carolina, and which is known as the Statesville Erosion Farm. 2. That the said instrument appointing the above named as Trustees is recorded in the office of the Kegister of Deeds for Iredell County, North Cerolina, in Deed 4ook 104, pages 11 through 23, both inclusive, and reference is hereby made to the said recorded instrument for a list of the names of the beneficial owners of the said tract of land, together with the interest that each has in the said tract of land, and the said instrument is hereby made a part of this paragraph of the petition. 3. That the said instrument contains the following paragraph with reference to the resignation and appointment of Trustees: | "It is agreed by all interested parties that upon the death, resignation or inability to serve of any of the trustees named herein, that the Clerk of the Superior Court of Iredell County shall appoint the successor of such person, and the appointment so made and entered upon the special proceedings record of said county shall be sufficient authority for the person so appointed to act as such trustee." 4. That during the time that your petitioner has been acting as one of the Trustees, the only property which he held title to, together with the other two trustees, is the tract of land described in the said instrument above referred to. 5. That your petitioner for reasons of his health desires to resign as Trustee and respectfully asks the Court that he be permitted to do so, and that the Court appoint another Trustee to act with the other two Trustees as is provided for by law and in the recorded instrument creating the trust, for the resignation and appointment of trustees. This the (@ thaas of March, 1941. Coy, (SEAL) . Wagner, ee | North Carolina Iredell County #8 Claapbipn! la nbaey, Notary Public, do hereby certify tha « &. Magner, Trustee, known to me to be the person whose name is subscribed to the foregoing instrument, personally appeared before me and acknowledged the due execution of the foregoing instrument. Witness my hand and notarial seal, this 1[QxAL Dongbitaey Carlton My commission expires: S2r<..1 6/4 ib / day of March, 1941. NORTH CAROLINA IREDELL COUNTY In Res Le. C. Wagner, H. Ae Yount # ORDER APPOINTING SUBSTITUTED and F. A. Sherrill, trustees # TRUSTEE This cause coming on to be heard before me, C. G. Smith, Clerk of the Superior Court of Iredell County, md being heard upon the petition filed by EZ. C. Wagner, the petitioning trustee, and it appearing to the Court that the facts set forth in the petition are true, and that the parties to the instrument creating the trusteeship provided the means and method for the resignation and appointment of a Substituted Trustee, and that by the said instrument, upon the resignation of a Trustee the Clerk of the Superior Court has the power and authority to appoint a Substituted Trustee without the usual notice to all of the beneficial owners; And it also. appearing to the Court that this is a passive trust and not an active one, and that the Trustees merely hold the title to the said property and their power can be recalled at any time by the beneficial owners of the said trust agreement ; And it further appearing to the Court that the cause for resignation of L. C. Wagner, Trustee, is a good one and his resignation is hereby accepted. is therefore ordered, adjudged md decreed that ; be and he is hereby appointed as Sub- etzy£uted Trustee under that certain instrument recorded in Deed Book 104, page 11, to act with the present Trustees, H. A. Yount and F. A. Sherrill. ACCEPTANCE OF S zi “Se , do hereby accept the appointment as bstituted Trustee under the t rust agreement set forth in Deed Book 104, page 11, and referred to in the foregoing instrument herewith annexed and made a part hereof, and agree to act as such Substituted Trustee subject to all rights, powers, privileges and exemptions in the said trust agreement provided. This 26 day of Yack; 1941. North Carolina Iredell County Zithe_ , de the Superior Court, do hereby certify that lame Substituted Trustee, personally appeared > fore me this day and acknowledged the execution of the foregoing instrument. Let this instrument with the instruments attached be recorded. Witness my hand and seal, this day of fs , 1941. DEPARTMENT OF CULTURAL RESOURCES DIVISION OF ARCHIVES AND RECORDS CERTIFICATE OF AUTHENTICITY This is to certify that the micrographics appearing on this film are true and accurate reproductions of records originated during the normal course of business by the ' Iredell County and consist of Assignees '_ Receivers’, and Trustees’ Records 1843 - 1941 The records begin with _@.2 OF Y¥, 926 08 v¥p4&- 20, Necemeg- (fae andend with_C.2 O54 929 02, “outer Al Tan, /9y/ It is further certified that the above records were microfilmed in conformity with the provisions of the General Statutes of North Carolina, chapter 8-45.1 and 8-45.4, "Uniform Photographic Copies of Business and Public Records as Evidence Act"; that the microphotography processes accurately reproduce the records so microfilmed; that the film forms a durable medium for reproducing the original, if necessary; and that the film used conforms to American National Standards - Institute, Photographic Films-Specifications for Safety Film, ANSI IT9.6-1996 and American National Standards Institute, Imaging Media (Film)-Silver Gelatin Type-Specifications for Stability, ANSI / NAPM IT9.1-1996. This is further to certify that the microphotography processes were accomplished by the undersigned on the date and at the reduction ratio indicated below. Date filming of this reel began 4 -/ 9-3 Reduction Ratio VAFiOUS Date filming of this reel ended 4 - 73-73 Lhe his. Shite ctated