The board's attorney, Doug Batchelor, of Hull Towill Norman Barrett & Salley, was vague in his comments about the potential transaction. He did say he thought a deal that could benefit the mill would happen ''sooner rather than later.''

Officials had indicated previously that a sense of urgency surrounded King Mill's purchase. Dayton Sherrouse, the executive director of the authority, had said creditors wanted to finalize a purchase by month's end - which is today.

General Electric Corp. is the primary creditor of the former Spartan International of Spartanburg, S.C., which owned King Mill and other properties. Default on debt lead to the mill's closing May 4, putting 306 people out of work. The company's other mills also shut down.

''The real estate acquisition matter discussed, at this time, has not been closed or abandoned,'' Mr. Batchelor said after the closed-door meeting. ''This is a transaction in which the canal authority would be the buyer.''

He would later add, ''We met to negotiate a piece of property. I didn't say it was that (King Mill) property.''

Reach Eric Williamson at (706) 828-3904.