The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-06-21
Public Sale of the Monroe Railroad ana
RnsE;o0 Co,1,,oo,,


Banking Company.
GEORGIA, Decree of the Special Jury in rela-
Bib county, ton to the Monroe Railroad and
| Banking Company
WE, the jury, find and decree, that the Monroe
w railroad from Macon to its terminus at Mar
thasville, in the county Of Dekalb, both the part
thereof which has been completed and in operation,
and the part thereof which is in an unfinished con-
dition, and all the properly equipments and effects
Herewith connected, is subject to the payment of
the debts of the Monroe Railroad and Banking com
pany--that the said company is insolvent and Who'll
unable pay its debts aforesaid, and from its
barrassments, is unable to complete said road, and
keep the same in operation to answer the great
public objects contemplated by the legislature. We
further find that there creditors of various de-
scrptons Of said company, viz holders Of the bank
notes issued by said company, holders of bonds is
sued for work and materials for said road judgment
creditors, creditors holding certificates Of deposit,
demands for work, labor, and materials, for said
railroad and creditors claiming TO be mortgage credi-
tors of said company, and all other creditors not
here enumerated; and thai laess are among them
creditors claiming priority of right in respect to
their demands: and we further decree that the said
railroad, and all the property, equipments and eff
fects, Herewith connected and all the property be-
longing to said company, and all the rights, prvi-
leges, and franchises, in any manner belonging or
appertaining to said Monroe Railroad and Banking
company, be sold at public sale at the courthouse in
the county of Bib, by David c. Campbell, Abner
p. Powers, James A. Nisbet Samuel b. Hunter
and Thomas Hardeman, commissioners, or majo
rty of them, on the first Tuesday in August next
after giving two months public notice in the ga
zetes of Macon, Griffin, and Savannah, and that
the proceeds of said sale be paid to the clerk of this
court, who is required to deposit the same for safe
keeping on special deposit in the agency of the
Mechanics Bank in the city of Macon, and that
public notice be given to the creditors of said
pany TO file their respective claims, or schedule
antor De az, ~c,l - H. al
first Monday in October next and that the said
creditors, if any controversy should arise respecting
said claims, then itigate among themselves in re-
spect to all objections which would or might have
been available against them by said company if said
sale had not been made in relation to matters of
set-o, and whether they be subject to objection on
account Of the statute of limitation, non. performance
of contracts or other cause embracing the quantum
of consideration paid for the claims any of them
and also that the liens claimed by the respective
creditors be then and there also investigated and adj
udicated and further decree that the purchasers
of said railroad succeed to all the obligations of said
company in respect to the completing, equipping
and keeping the said road in operation as intended
and designed by the act of Incorporation, but not to
extend to liability Of debts contracted prior to
| said sale and that after said sale, upon de-
mand or notice, the stockholders in said COM
pany transfer to the purchaser the stock held by
him, her, them, in the said company, or that the
title be transferred by said commissioners in the
same manner is provided by law for the transfer
of bank stock when sale thereof made by the sher
i and we further decree, that for the keeping of
said road in operation for the time intervening be-
tween the day of the passing of this decree and the
day of SALE the receipts the said road be applied,
and that if said receipts should not be sufficient for
said purpose, the balance be paid from the pro-
ceeds Of the sale aforesaid; and we further Decree
that William B. Parker trustee in charge of said
road and appurtcnances until the sale Of the afore-
said properly is completed, make monthly returns
of the amount of receipts thereon and file the same
with the clerk Of this court and also of accounts for
keeping the same in repair and operstion exhibit
ing specific statement in each OF the number and
description of officers, agents. and hands employed
thereon; the value of the hire of each per month,
and the quantity, quality and value of materials
purchased, subject to the examination and approval
of the court; and the costs and other expenses be
paid from the proceeds of sale
JAMES DEAN, Foreman.
A true extract from the minutes of Bibb Superior
Court, May term, lS45
| HENRY G. ROSS, Clerk.
By virtue of the above decree, the undersigned
will sell before the courthouse door, in the city OF
Macon, on the first Tuesday in August next, at IL
o'clock M, the whole line Of the Monroe railroad
from Macon to Marthasville, in the county of De-
Kab and all the property, equipments, and effects
Herewith connected, and all the property belonging
to said company and all the rights, privileges, and
franchises in any manner belonging or appertaining
to said Monroe Railroad and Banking company,
embracing only the road but the various depots
workshops, warehouses; engines, cars, iron, tools,
equipments and all and every thing appertaning and
belonging TO said road.
Also the entire assets belonging to said Monroe
Railroad and Banking company, embracing sub
scrptions for stock unpaid, including the subscrip-
ton of the State Of Georgia for 5000 900, and all
debts, demands, and claims of every kind and de-
scrption, due TO belonging to said Monroe Rail-
ard nonbfn full sab dnla n
which may be seen on application to M. L. Gray
hill, at the office of said company.
The length of the road is l0l miles, the whole of
which is graded to its junction with the Western
and Atlantic Railroad. The superstructure has
been completed on the whole road, except four and
a half miles, The road is in use to Jonesborough,
eighty miles, and is equipped with five locomotive
engines, three passenger cars eighteen freight cars,
wheels and axles for eight other freight cars, and
one stationary engine. The terms Of sale cash, to
be paid Immediately to the commissioners; and on
failure of purchasers to comply, so much Of the
property as may be bid off by such defautng pur-
chasers, will be forthwith resold at their risk.
The Savannah Georgian and Republican, and
the Georgia Jefersonan, will please copy the fore
going weekly until the day of sale, and render their
accounts to the commissioners.
DAVID C. CAMPBELL,
ABNER p. POWERS,
JAMES A. NISBET, Commissioners.
SAMUEL B. HUNTER,
THOS. IIARDEMAN.
! Macon, Ga, May 26, ls45.
June l6-tds