Publication: The Trenton Evening Times
Trenton, NJ, United States
COOK WON'T BUY
Withdraws His Bid of $62,000
Says He Doesn't Want It.
ANNOUNCED IN CHANCERY TODAY
Receiver Edwin Robert Walker Says
That Charles H. Cook Declines to
Buy — Has the Collapse of the Pottery
Trust Had Anything to do
With His Withdrawal?
Charles Howell Cook, has withdrawn his bid of $62,000 for the old Eagle pottery property. His withdrawal was first announed this morning in the Court of Chancery before Vice=Chancellor Reed in a petition presented by Receiver Edwin Robert Walker, of the insolvent Eagle Company.
Whether the recent collapse of the American Potteries Company, with its over capitalization of $27,000,000 has had anything to do with Mr. Cook's decision not to buy cannot be authoritatively stated, but it is generally believed that it has. Mr. Cook was asked for a statement this morning by a Times representative and he simply smiled and said:
"I don't want your property."
"Would you mind stating your reasons for reconsidering your bid?"
"I don't want the property," Mr. Cook again replied.
"Has the pottery trust failure anything to do with it?"
But Mr. Cook replied again:
"I don't want the property."
Receiver Walker states in his petition that Mr. Cook offered in December to buy the pottery and white ware just as it stood. His withdrawal now makes it necessary for the receiver to sell the ware at a ruinous sacrifice, there being no market for such goods in the Eastern States, or to decorate the ware and then dispose of it. He asked for an order granting him this right, stating that there is enough coal, or nearly enough, to fire the kilns and sufficient colors and decalcominias for such decorations. He states that the labor to be emplloyed is principally that of women and girls, which is not expensive.
After a brief argument the vice-chancellor signed the order for the decoration and stated that in relation to the contention, brought by the creditors relating to whether the property could be sold for the benefit of the mortgagee, that he had decided that it could be and therefore ordered Receiver Walker to advertise the pottery for public sale.