The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1851-04-10
Monday evening, April 2. 1851

We same. 1t IS pfuUuolt t"dt VIC dCt l'"s-
sed last session for the sale Of the Zanes
vile and Maysville Turnpike Road, will
be published in full hereafter; in the mean
while, we will give our readers the fol
owing abstract of the provisions. They
are much better than we we're led To
anticipate and we feel justified in saying
that should the road he sold. the debts
paid and the unfinished portions com.
pleted, in accordance with the provisions
Of this act. the result will be advantage.
ous to all parties.
Section first provides, that the Receiv.
company. in Muskingum Common Pleas,
shall proceed under order 10 be made up,
on The application Of any creditor, and
sell the said road. The sale to be made
at. Chillicothe after sixty days notice
The Road is to sell for Il sun equal to
the debts of the company and the expen.
ses of sale. The Receiver shall at the
same time, give notice to creditors Ia file
their claims. ar in default To be excluded
from participating in the fund.
Section second provides. that the pur.
chasers shull finish the Road between
GAINESVILLE and Sinking Springs in High.
land county, and build a bridge over Jon
athsn's creek. all within two years, and
finish the Road between Sinking Springs
and Aberdeen within five years from the
sale.
Section third provides. that il the
Road is not sold al the first Offering, the
Receiver shall advertise and offer a sec.
ond time; if moi sold at the second offer.
ing. he shall in the succeeding day, offer
the part of said Road lying between
Zanesville and Sinking Springs, which is
to sell for sum equal To the debts aud
oAPo"bco no ho"Nc' hHh 'He puIC'hSo'S
are to finish the said part of the Road
and build a bridge as above provided
IF the sale be made under this section,
the citizens along tho Western division
ofthe Road may within five years advance
cash to finish said Western division and
shall become joint stockholders.
Section four provides, that if new
debts are presented after the sale. the
purchasers may abandon the purchase
and the Court shall thereupon order a re.
sale.
Section five provides. that if there be
no sale under the third section. the Re,
reader shall give notice for ninety days
and offer the whole road as 10 the first
section, and the purchasers shall be
bound to finish only the part ofthe road
lying between Evansville aud Sinking
Springs and build the said bridge, and
the purchasers to enter into bonds to pay
the purchase money. one third at the
next term Of the Court. one. third in one
and ore.third in two years, with interest
The Court may require additional secu.
rity; and the excess Of the purchase
money, il any, to go into the State Treas.
ury.
Section six pro.idos, that the sale is to
be confirmed by the Court, aud lhereupon
the purchasers ara vested with all the
rights and franchises of said Road com.
pauyi if sale be.made under the third
section, then vested with such rights, &c,
as far as said part Of the Road ia con.
eerned; and upon sale Of tho whole Road
the purchasers are To be subject to all the
restrictions and liabilities Of tho original
company; upon the sale of a por,, then
they are to be subject to such restrictions,
&C., as the part sold.
Section seven defines tho powers oI
the purchasers; they cln conduc, their ar
fairs by agents; may create a capital stock
not exceeding $500. 900. in shares Of $50
stock to be a~psignable; may use c"rporal,
name and seal of The original corpuratior
and in case Of purchase under the thirl
s%ection. to be body corporate under the
nam of the GAINESVILLE snd ChillicolhC
Turnpike company.
No gate shall be removed from its pres.
ent location nearer than una aud a hall
mile 10 any Town or city.
Section nine provides. that the Court
shall make order for distribution. pre-
serving aud having duo regard To all es.
tablished Iiens aud priorilies, aud shall
fix the bond Of the Receiver.
Section ten provides that the State
shall never be liable for any Of the debts
Of said company; nor shall any s,ockhold.
or have any claim on the S,sie on accoun,
Of said sale.