The instrument's own words
page 1
508
Whereas at a meeting of the stock holders of the Barnstable
Manufacturing Company a corporation duly incorporated by the
General Assembly of the State of Rhode Island settled and located and doing
business in the town of Westerly in the county of Washington and
State of Rhode Island helden on the 29th day January ad 1887
it was unanimously voted in view of the attachment of the property
of this corporation commenced on the 21st day of December 1887 in
the suit of A. Converse v.s and in order to prevent said A. Converse
from obtaining a preference over the other creditors of this
corporation, the President of this corporation is hereby authorizing
empowered and instructed as soon as the same can be done in
the name for & in behalf of this corporation to make, execute,
acknowledge and deliver to Benjamin P. Barber of Westerly R.I.
a deed of assignment of all the property and estate of this
corporation except so much thereof as than debts have been as by
bill of exchange or negotiable promissory note as or as shall be
exempted from attachment by statutes of this State and of the
United States for the equal benefit of all the creditors of the bankrupt
in proportion to their respective claims with such preference
only as are allowed by the laws of this State, and to cause the
same to be recorded in the records of the town of Westerly above
and in the towns of Richmond, North Kingstown, Charlestown and
Newport R.I. and the records of the town of Somerset Conn
ecticut, Now therefore know all men by these presents that this Indenture
made this 28th day of January in the year eighteen hundred
and eighty eight by and between the Barnstable Manufacturing
Company aforesaid of the first part and Benjamin P. Barber of
the town of Westerly in the county of Washington and State of
Rhode Island of the second part witnesseth that whereas the
said Barnstable Manufacturing Company is justly indebted
in sundry large sums of money and is unable to pay and
discharge the same with promptitude and in full, and is desirous
of making a fair and equitable distribution of its property and
effects among its creditors, Now therefore this Indenture witnesseth
that the said Barnstable Manufacturing Company in consideration
of the premises and of the sum of one dollar to be paid in hand
by the party of the second part the receipt whereof is hereby
acknowledged have granted bargained sold assigned transferred
and set over and by these presents do grant bargain sell
assign transfer and let over unto the said party of the second
part his heirs and assigns forever all and singular its lands
tenements and real estate and all its goods chattels effects and
things in action of every name nature kinds and description which
it now fully possessed and to which it may be entitled
saving and excepting such articles and effects as are exempt
by law from seizure and sale under execution other than debts
secured by bill of exchange or negotiable promissory note
To have and to hold the same unto the said party of the
second part his heirs and legal representatives. In trust
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however and upon the following uses and trusts, That is to say,
the said party of the second part shall take immediate possession
of all property and effects hereby assigned and as fast as he
conveniently can he shall sell and dispose of the same and
convert the same into money, either at public or private sale
in his discretion, and with the proceeds thereof first
pay and discharge all his reasonable costs, charges and
expenses of and incident to the execution of the trusts hereby
created including a reasonable compensation to the said
Benjamin H. Barber and his successors for the time being made
this instrument for services and counsel free in and about
the execution of said trusts; and all rents, taxes, assessments
and other charges and expenses that may be or become
necessary to keep and protect from seizures the assigned
property and all debts due the United states the state of
Rhode Island and for the wages of labor performed within
six months previous to the execution of this deed of assign-
ment, not exceeding One hundred dollars to any one person
With the residue the said party of the second part shall
pay and discharge in full with full satisfaction a preference
all the several and respective debts, bonds, notes and sums
of money due or to grow due from the party of the first
part and if the said assigned effects are insufficient to
pay all such sums in full then to pay the same pro rata
as far as said assigned effects will go. Fourthly, the
said party of the second part shall return the surplus of
the said proceeds if any there shall be, to the
party of the first part or its legal representatives
and for the better execution of these presents and of
the trusts hereby imposed, the said party of the first
part hereby makes constitutes and appoints the party
of the second part its true and lawful attorney irrevocably
with full powers and authority to do and execute all
matters and things necessary in the premises as fully
and completely as the said party of the first part might
or could do, mere these presents are executed, and
attorneys one or more under him to make, constitute and
appoint with full power of substitution and revocation
hereby ratifying and confirming all matters and things
whatsoever that it shall lawfully do or cause to be
done in the premises And the said Benjamin
H. Barber hereby accepts this assignment and the
trusts hereby imposed, and covenants with the party
of the first part to execute the same according to
the best of his knowledge and ability,
In testimony whereof the President of said
Corporation has signed the name of said corporation
and affixed its corporate seal the day and year above
written, and the said Benjamin H. Barber has hereunto
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510
set his hand and seal the day and year above written.
Signed, sealed and delivered
in presence of
William Hospery
Carmichael Manufg Co.
By Geo. Carmichael President [illegible]
& Benjamin H. Barber & S.
State of Rhode Island ve
Washington &c
In Westerly this 28th day of January
A.D. 1888 then George Carmichael President of the Lean-
michael manufacturing company personally appeared and
acknowledged the foregoing instrument signed and sealed to
be the free and voluntary act and deed of said company
as well as do his own free and voluntary act and deed and then
and there the said Benjamin H. Barber personally appeared
and acknowledged the foregoing instrument by him signed
and sealed to be his free and voluntary act and deed
before me William Hospery
Notary Public
& S.
Received for record Feb 21, 1888 at 12 oclock noon
and recorded by George G. Coons Town Clerk
Know all men by these presents that the Granite Savings
Bank and the Westerly Savings Bank mortgagees under a
mortgage deed dated from the Carmichael Manufacturing
Company bearing date June 26th A.D. 1876 in consideration of
one dollar paid to the Carolina Mills company and
other good and valuable consideration the receipt whereof is hereby
acknowledged do hereby release with the said Carolina Mills company
its successors and assigns all claims under said mortgage owing
from or by reason thereon account of any charges that have been
made in the rolling way or waste way of said Carolina Mills
Company by putting waste gates therein as authorized by said
Carmichael Manufacturing Company by its agreement with said
Carolina Mills Company bearing date December 21 1877
In witness whereof the said Banks have caused their corporate
names to be subscribed and their corporate seals to be affixed
hereto by their respective treasurers therefore duly authorized the
29th day of April A.D. 1888
Signed sealed and delivered
in presence of
Eugene B. Pendleton
The Granite Savings Bank & S.
by Thomas Vineells Treasurer & S.
Westerly Savings Bank of Westerly
By J. B. Foster Treasurer & S.
Eugene B. Pendleton
The page as recorded
