The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-06-23
Public Sale of the Monroe Railroad and
Banking Company.

Public Sale of the Monroe Railroad and
Banking Company.
\ GEORGIA. Decree of the Special Jury in rela-
Bib county ton to the Monroe Railroad and
Banking Company.
.IVXTE, the jury, find and decree, that the Monroe
! wv railroad from Macon to its terminus at Mar
thasyle, 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-
diton, and all the property, equipments, and effects
Herewith connected, is subject TO the payment of
the debts of the Monroe Railroad and Banking COM
Ipany-that The said company Is insolvent and who'll
y unable To pay its debts aforesaid and from its en-
barrassments, is unable to complete said road and
keep the in operation, so as to answer the great
public objects contemplated by the legislature. We
further find that there are creditors Of various de-
scriptons 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 cred-
tors of said company, and all other creditors not
4 here enumerated; and that there are among them
creditors claiming priority of right in respect to
their demands: and further decree that the said
railroad, and all the properly equipments, and eff
longing to said company, and all the rights, privi-
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
rity of them, on the first Tuesday in August next,
after giving two months public notice in the ga
zettes of Macon Griffin, and Savannah, and that
the proceeds of said sale be paid to the clerk ofthis
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
thereof, in the clerks Office of this court by the
first Monday in October next; and that the said
creditors if any controversy should arise respecting
said claims, then litigate 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-of and whether they be subject to objection on
account of the statute of limitation, nonperformance
of contracts, or other cause, embracing the quantum
of consideration paid for the claims or any of them;
and also that the liens claimed by the respective
creditors be then and there also investigated and ad
Indicated; and further decree that the purchasers
Of SAID railroad succeed to all the obligations Of said
company in respect to the completing, equpping
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 notice, the stockholders in said COM
pany transfer to the purchaser the stock held by
/ him. her. or 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 is made by the sher
ff 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 further decree,
that William b. Parker, as trustee in charge of said
road and appurtenances until the sale of the afore-
said property 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
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 not 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
scriptons for stock unpaid, including the subscrip-
ton of the State of Georgia for 100000, and all
debts, demands, and claims of every kind and de-
scripion, due to or belonging to said Monroe Rail-
road and Banking company, full schedule 0
which may be seen on application to M. l.. Gray
bill, at the Office of said company.
The length of the road is 10l miles, the whole of
which is graded to its junction with the Western
and Atlantic Railroad. The superstructnre has
been completed on the whole road, except four and
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, much of the
property as may be bid off by such defautng pur-
cbasers, 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, end render their
accounts to the commissioners.
DAVID c. CAMPBELL,
ABNER P. POWERS,
JAMES A. NISBET, Commissioners.
SAMUEL B. HUNTER,
THOS. IIARDEMAN.
Macon, Ga, May &c, lS45.
June l6--tds
THO BROKERS THROUGHOUT THE UNI
i TED STATES--All prizes in any of the
authorized lotteries drawn in the United States vii