The penny press. [volume] (Cincinnati [Ohio]) 1859-1860, 1859-10-31
COVINGTON NEWS.

SALE OF THE KENTUCKY CENTRAL RAILROAD
CoNFIRMED.--As we had anticipated, the sale Of
this road was confirmed on Saturday last. After
the. Court had assembled, W. A. Dudly, ESQ.,, the
Commissioner who conducted this sale, made a
report, setting forth that the real purchaser Of
the road was r. B. Bowler, ESQ.,; that the
amount Of money required had been deposited,
and that the bonds for the subsequent pay
ments had been satisfactorily made, and signed
by r. B. Bowler, Thos. D. Carneal, VIM. II.
Gedge, John 7. Lewis, John P. Winston, B.
W. Foley, Lewis Collins, James G. Gedge, G.
B. Sanford, II. S. Reynolds. The bond was
conditioned for the payment of $7S,7O0 in six
months, the same amount in twelve, and also
in eighteen months, making in all 1926, 100.
After the report was filed, Mr.. Fisk, repre-
senting the City of Covington, and probably
other stock holders, filed the following excep-
tions to the sale:
81. The judgment ordering the sale is con-
trary TO law, and void.
"2. The Judgment ordering the sale is in
equitable, and the sale was not necessary for
the payment of the debts when they became
due.
"S. Because W. Ii. Gedge, the ostensible
bidder, and r. B. Bowler, the actual bidder,
were, at the time of the sale, directors of the
company, and in the matter of the said sale,
acting against the direct interest and ex-
| pressed wishes ef the stockholders, and they
purchased for their independent benefit
"a. Because the said road sold for not
more than one-half its actual cost and pres
ent value.
| "5. Because the sale was not made in &C.
cordance with the Judgment"
| Mr.. Fisk argued the case at some length.
| but his arguments were overruled by Judge
| Goodloe, who stated that he did not feel en-
powered to postpone the proceedings, unless
he could be assured that the road would sell
for much larger sum than had been named.
| He thought this would not be the case, and
therefore directed the clerk to enter the fol-
| lowing order:
| Winstoo, Trustee, &o., %. The Copington and
Lexington Railroad Company ct al.--This ac-
ton having been heard on exceptions to the
Commissioners report, this day returned, it is
now ordered and adjudged that the exceptions
be overruled. and the report Of sale be ap-
proved and confirmed. But go much of said re-
port as treats Of other matter than the sale Is
not now acted on, but reserved for further sd :
Indication.
"Further time is allowed until the first day OF
| next January for the deposit of income bonds
sold before the 10th Of July, 1855, and the
same time is allowed to holders of said bonds
to otfer additional proof Of the sale of their
bonds before that day.
ut Is ordered that the Commissioner asoer-
tain from proof to be offered him the expense
and reasonable compensation of the Trustee,
james Winslow, and for his counsel fees herein;
also, the reasonable fee of the attorney ap
| pointed for the Trustee of the First Mortgage,
and report to the Court at its next term, the
Commissioner to file his report with the Clerk
by the 10th day of January next.
| ut is ordered that the Commissioner nav out
OF money in his hands the bill of printer for
advertising the sale, &C., as returned with his
report that he refund to Il. B. Bolwer the
$2O, 700 deposited to secure compliance with
the terms of sale, and that partial allowance
OF $l 900 be now made the Commissioner for
his services"
The case, we understand, will be taken
before the Court of Appeals, on the ground
thai the purchasers were directors, and con-
se4uently, as trustees for the stockholders
mad no right to purchase the road. The gen.
eral opinion, however, is that the stock is LOST
I to the stockholders forever.
ARREST OF ANOTHER BURaLAR-On Friday
last, three juvenile burglars, Thomas Findlsy
Pat. Nolan and Gre. Roach, implicated in the
robbery of Mrs. BOyles's confectionery estab-
lishment, on Fifth-strset, were arrested in Gin
cnnati and conveyed to this city. The eldest
OF the parties does not exceed twenty years Of
age, and the others were much his Juniors.
Night before last, another, named John Cero,
was arrested, ia this city, for the same ofiense,
by officer Riff, and he, too, is mere youth
The four will probably have hearing TOD day
sANFoRD-sTREET.-Tho grading on this street
Is about completed, and workmen will com
mence Macadamizing it Immediately. Thii
improvement materially enhances the beauty
of this part Of the city, beside adding to th,
convenience of the travelling public.