Document - Historical information/data - Letter from Northwest Publishing Company to August F. Rahn - 7/11/1928
ALBERT DOLLENMAYER
Receiver, NORTHWEST PUBLISHING COMPANY
Phone Atlantic 5238
519 Metropolitan Life Bldg.
Minneapolis, Minn.
July 11th, 1928.
Mr. August F. Rahn,
Mendota, Minn.
Dear Sir:
In checking over the names of stockholders of The Northwest
Publishing Company, we find that you have not made an offer of settlement
of your stockholder's liability, in accordance with the plan of settlement
which has been explained to you before.
A large number of stockholders have already made their offers
of settlement, but some have requested an extension of time to enable them
to raise the necessary funds. Accordingly, the court, upon my petition,
has granted you and other stockholders who have not as yet made their
offers of settlement, additional time to October 16th of this year within
which to make such settlement offers, as you will see from copy of the
court's order enclosed herewith.
You should not wait until the last day to make your offer of
settlement, but do so as soon as possible upon the receipt of this letter.
Tear off the stub attached hereto, and enclose it with your check or money
order for $25.00 for each share you hold. Use the enclosed envelope. Your
name can then be presented with the names of other stockholders with the
offers of settlement for final approval and acceptance by the court.
Yours very truly,
George B. Leonard, Receiver of Northwest Publishing Company
Attorney for Receiver
To A. Dollenmayer, Receiver
Northwest Publishing Company
Minneapolis, Minnesota
Dear Sir: , which I
Enclosed please find-check--money order-for $
offer in full settlement of my stockholder's liability in the Northwest
Publishing Company, subject to the final approval by the court.
...Name
Address
STATE OF MINNESOTA DISTRICT COURT
COUNTY OF H TTEPIN FOURTH JUDICIAL DISTRICT
Seaman Paper Company of Minnesota, Inc., )
a corporation, Plaintiff, )
vs ) ORDER:
The Northwest Publishing Company, )
)
a corporation, Defendant, )
It appearing from the petition of Albert Dollenmayer, Receiver
of The Northwest Publishing Company, a corporation, that there is not
enough money, property, and assets in the estate of said corporation with
which to pay all creditors in full; that an earnest effort is being made
by said Receiver and the stockholders of said corporation to have the
constitutional stockholders liability settled on the basis of twenty-five
cents on the dollar, of the par value of stock respectively held by each
stockholder, all agreeable to the creditors of said corporation;
i;rd it further appearing that more than 1400 stockholders have
already made such offer of settlement; that a large number of stock-
holders have requested an extension of time within which to make similar
offers of settlement; that a great many of such stockholders depend for
their income on the returns from the soil, and it would cause hardship to
them not to extend the tine within which they may make such offers of
settlement until the Fall of the year; and it being for the best interests
of such stockholders and of said estate that an extension of time until
the Fall of the year be granted to enable such stockholders to make their
offers of settlement to the Receiver, subject to the further approval of
the acceptance of such offers by this court;
THEREFORE, BE IT ORDERED: That all stockholders of The North-
west Publishing Company who have failed to make their offer of settlement
of their respective stockholderts liability shall have until the 15th day
of October, 1928, to make their offer of settlement of their said liability,
to Albert Dollenmayer, Receiver, on the basis of twenty-five cents on the
dollar of the par value of the stock of said corporation respectively held
by them, and accompany the same with a remittance of the amount of such
proposed settlement. The said Receiver shall hold the moneys so received
in a separate fund until the further order of this Court.
BY THE COURT
H. D. Dickinson
J U D G E
Dated: July 3, 1928