The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-06-19

Public Sale of the Monroe Railroad and
Banking COMPANY

Public Sale of the Monroe Railroad and
Banking Company.
GEoRcn, Decree of the Special Jury in rela-
| Bib county ! ton to the Monroe Railroad and
\ Banking Company.
lWTE, the jury, find and decree, that the Monroe
| Wv railroad from Macon to its terminus at Mar
thasvile, 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-
dtion, and all the property, equipments, and effects
Herewith connected, is subject 70 the payment of
the debts of the Monroe Railroad and Banking COM
lpany--that the said company is insolvent and who'll
y unable pay its debts aforesaid, and from its en-
barrassmenls, is unable complete said road, and
keep the same in operation, as to answer the great
public objects contemplated by the legislature. We
further find that there are creditors of various de-
scrptions 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 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-
leges, and franchises, in any manner belonging or
appertainng 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 maio
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 the clerk of this
court who is required to deposit the same for safe
keeping 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
Ia fla thair .oha d,,Ia
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 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
judicated 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 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 as 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 the said road be applied,
and that said receipts should not be sufficient for
said purpose, the balance be paid from the pre-
ceeds Of the sale aforesaid; and we further decree
that William b. Parker as trustee in charge of said
road and appurenances until the sale of the afore-
said property IL 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 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, 1645.
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 manner belonging appertaining
to said Monroe Railroad and Banking company,
embracing not only the road but the various depos,
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
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-
scription, due to or belonging to said Monroe Rail-
which may be seen on application to M. l.. Gray
bill, 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 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 axes 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 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 C. CAMPBELL
| ABNER P. POWERS,
| JAMES A. NISBET, Commissioners.
SAMUEL B. HUNTER,
TIIOS. HARDEMAN.
Macon, Ga, May &c, 1S45.
| June I6--tds
THO BROKERS' THROUGHOUT THE UNI
| L TED STATES pr;1es in INV IF ,be