The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-07-09
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.
WYE, the jury, find and decree, that the Monroe
| wv 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
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
lpany-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, to answer the great
| public objects contemplated by the legislature. We
further find that there are 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 cred-
tors of said 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 further decree that the said
railroad and all the property, equipments, and eff
fects Herewith connected, and all the property be-
ongingto said company, and all the rights privi-
eges, and franchises, in any manner belonging or
company be sold at public sale at the courthouse in
the county Of Bib, by David c. Campbell, Abner
| p. Powers, James A. Nsbet, Samuel B. Hunter,
and Thomas Hardeman, commissioners, or a maios
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 COM
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-o, and whether they be subject to objection
account of the statute of limitation, non-performance
of contracts 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
judcated and we 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
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
if 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 on 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 aforesad and we 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 opereton, 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 Bib Superior
Court, May term, l845.
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 10
o'clock, m, the whole line of the Monroe railroad
from Macon to Marthasville, in the county Of De-
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 belonging or apperaining
to said Monroe Railroad and Banking company,
embracing only the road but the various depots,
workshops, warehouses, engines, cars ron 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
scriptiona for stock unpaid, including the subscrip-
| ton of the State of Georgia for 5000 0OO and all
debts, demands, and claims Of every kind and de-
scription, due to or belonging to said Monroe Rail-
road and Banking company, a full schedule o
which may be seen on application 10 M. L. Gray
bill at the Office of said company.
| The length Of the road is l01 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
property as may be bid off by such defauting pur-
chasers, will be forthwith resold at their risk.
| The Savannah Georgian and Republican, and
the Georgia Jeflersonan, will please copy the fore
going weekly until the day Of sale, and render their
accounts to the commissioners.
DAVID G. CAMPBELL
| ABNER p. POWERS,
| JAMES A. NlSBET, Commissioners.
/ SAMUEL B. HUNTER,
THOS. HARDEMAN.
| Macon, Ga, May &c, 1S45
June I6--tds
! PURSUANT to an order Of the Lord Chancellor,
i any person or persons claiming to be the heir,
or heirs at law, and next of kin, entitled under
the statute Of distributions lin case he were now