The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-07-01
Public Sale of the Monroe Railroad ana
Pnok;oo CoynDoDD

Public Sale of the Monroe Railroad and
Banking Company.
G1onam Decree Of The Special Jury in rs,a ella
Banking Company.
ME, the jury, find and decree, that the Monroe
w railroad from Macon TO its terminus at Mar
thasyile, IN The county OF Dehalb, both the part
thereof which has been completed and IN operation,
and the part thereof which is in an unfinished con-
dton, and all the property, 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 nsovent and who'll
y unable pay its debts aforesaid, and, from Its en-
barrassments, is unable TO complete said road, and
keep the sas operation, so as to answer the great
public objects contemplated by the legislature We
further find that there creditors OF various de-
scriptions 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 10 be mortgage credi-
tors of sam company and all other creditors not
here enumerated; and that there 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, priv-
ICSto, iIhHCiifscb III dify pcoHSihS VI
apperlanng to said Monroe Railroad and Banking
company, be sold at public sale at the courthouse in
the county of Bibb by David G. 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
1ettes Of Macon, Griffin, and Savannah, and that
the proceeds of said sale be paid to the clerk Of this
court, who is required 20 deposit the 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 COM
pany to file their respective CLAIMS or a 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 nad6 IN relation to matters Of
seton ard whether they be subject 10 objection on
account of the statute Of limitation, performance
of contracts or other cause embracing the quantum
Of consideration paid for the claims OF any OF them
and also that the liens claimed by the respective
creditors be then and there also investigated and adj
udicatedj 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 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 conf
peny transfer to the purchaser the stock held by
him. hef or them, in the said company, 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-
eeeds Of the sale aforesaid and we further decree,
that William b. Parker as trustee in charge of said
ruuu anu apPtrrturiuer- utif tho ve &c tAs fars
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 operation, exhibit
ing a 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
~ JAMES DEAN, Foreman.
A true extract from the minutes of Bibb Superior
HENRY c. 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
Kalb, 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 appcrtaining
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 everything appertaining and
belonging to said road.
Also the entire assets belonging to said Monroe
Railroad and Banking company, embracing sub
scrptons 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-
scrption, due to or belonging to said Monroe Rail-
road and Banking company, full schedule
which may be seen on application to M. l.. Gray
bill, at the Office of said company.
The length of the road is I01 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
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
failu Of purchasers TO comply, much of the
property as may be bid off by such defaulting pur-
chasers will be forthwith resold at their risk.
The Savannah Georgian and Republican, and
the Georgia Jeffersonian will please copy the fore
going weekly until the day Of SALE end render their
accounts to the commissioners.
DAVID G. CAMPBELL
ABNER P. POWERS,
JAMES A. NlSBET, Commissioners.
SAMUEL B. HUNTER,
THOS. HARDEMAN.
Macon Ga, May 26, l845.
June I6--tds