In re Nevada-Utah Mines & Smelters Corp.

• Decision Date: 13 January 1913
• Docket Number: 108.
• Citation: 202 F. 126
• Court: U.S. Court of Appeals — Second Circuit
• Parties: In re NEVADA-UTAH MINES & SMELTERS CORPORATION.

202 F. 126

In re NEVADA-UTAH MINES & SMELTERS CORPORATION.

No. 108.

United States Court of Appeals, Second Circuit.

January 13, 1913

Liebmann & Tanzer, of New York City (L. A. Tanzer, of New York City of counsel), for petitioner.

R. S Rounds, Winthrop & Stinson, J. N. Rosenberg, and Frank D Pavey, all of New York City (Bronson Winthrop and Charles T Payne, of New York City, of counsel), for respondent.

Before LACOMBE, WARD, and NOYES, Circuit Judges.

WARD Circuit Judge.

This is a petition to revise an order of the District Court affirming an order of the referee directing and confirming a sale of the bankrupt's assets.

January 15, 1912, the Nevada-Utah Mines & Smelters Corporation, organized under the laws of the state of Maine with 1,498,500 shares outstanding, of the par value of $10 each, was adjudicated a bankrupt in an involuntary proceeding. May 31st the trustee filed a petition stating that he was without funds, and that the property of the bankrupt consisted largely of stock in other mining companies, much of which had been pledged to secure loans, one of which pledges was about to be sold under a judgment, and asking authority at a meeting of creditors to be called to call for funds to protect the assets of the estate, and if none were forthcoming to call for bids for any or all of the property of the estate, and at 'such meeting generally to ask for such action of any nature whatsoever in respect to any or all of the assets of the estate as may be deemed necessary or proper. ' May 29th the court, upon this petition, entered the following order:

'Upon the annexed petition of Henry Melville, trustee herein, verified the 28th day of May, 1912, and upon motion of Rosenberg & Levis, attorneys for the trustee, it is ordered that a hearing be held before Peter B. Olney, referee in bankruptcy herein, in the above-entitled matter, at his office, 68 William street, borough of Manhattan, New York City, on the 10th day of June, 1912, at three o'clock in the afternoon, to consider and act upon and make such orders in reference to any and all of the matters referred to in the annexed petition as may be deemed just and proper; and it is further ordered that at such meeting any and all bids for any and all of the assets may be considered and acted upon, and said referee may make such order as may by him be deemed proper, including any order for the sale or other disposition of any or all of the assets of this estate, in whole or in part, for cash or on credit, or otherwise as may then be deemed advisable.

'Due, timely, and complete notice of the said meeting shall be given in the following manner: By advertising the said meeting by notice, which notice shall be printed in the New York Times, once on or before May 31st and once on June 10th, and by like advertisement in the Daily Trade Record, and which said notice shall be in language as follows:

"United States District Court, for the Southern District of New York. In the Matter of the Nevada-Utah Mines & Smelters Corporation, Bankrupt. To the Creditors, Stockholders and Other Parties in Interest: Notice is hereby given that a meeting of creditors and other parties in interest will be held at the office of the Hon. Peter B. Olney, referee in bankruptcy herein, at his office, 68 William street, borough of Manhattan, New York City, on the 10th day of June, 1912, at three o'clock in the afternoon, to consider any and all such matters in reference to the administration of this estate as are referred to in a petition of the undersigned, verified May 28, 1912, and filed with the clerk of the United States District Court for the Southern District of New York, to consider any or all matters in reference to the administration of the assets of this estate or the sale of any portion thereof. At said meeting any and all offers for the sale of any or all of the assets of this estate, for cash or on credit, may be made, and such offers will then and there be submitted to creditors and other parties in interest, and such orders for the sale of any or all of such assets as may be deemed proper will be applied for, and such orders for any other disposition of any or all of the assets of this estate as may be deemed advisable will further be applied for. Such orders as to compromise or litigation with disputed claims, if any, will be asked for as may

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