The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-11-08
Another Tune from the ProsIdent'i
Organ.
SALE OF PAN HANDLE RAILROAD.
The PennsyIvania RaiIr Dad Company
The Nineteen Hundred and
Sixty Thousand Dollars the Price.
no Chronicle Of last evening,

FROM He EttSO1Tg CRrOHtctG Of ASt evening,
Columbus, and Cincinnati Railroad tPan Handle
Se %s fSq b a. As Of a. the ef &
Palmer & Co., auctioneers The sale was made under
authority and by virtue of a mortgage dated August
ls5e, which was declared by decree OF the supreme
1he sale Included the railroad proper together with
tween and at the termini this city and the boundary
line Of Virginia also all the tolls issues inc3mes
Company deriysble from the use Of or travel on their
S6 f ender S0res Or other things IL
the business or manaRement or the railroad; snd'
mand OF the company in that portion OF the rad ope
ed rS sno beweysn 5R Ty se bonnary neo Pennyvsna
at the easterly end and the OHIO river at the westerly
At noon to-day, the hour announced for the sale,
large number Cf leading railroad men ana n
the District Court room was obtained ana more COM
Mr. smithson then announced that the sale would be
commences, and stated that Theodore Cuyler, ESD,
the time and place Of sale the order Of the
ton of the road equipments etc. which would be in
cluded in the purchase After the gentleman read
be held subject TO contract wththe CHARTERS Val
ey a eTs Spon @hich the sale would be made
'TrwentyfYe Thousand dol ars Of the purchase money
days thereafter; provided, however that 4 the pur
mstured coupons or either secured by the aforesaid
first mortgage he and they may receipt to Thomas
money payable on the SAID bonds and matured oou
sidered as paid In cash on account O. the said pur;
AZ the tDoe Of sne6 reeept TO the ssid TSomTs NEE
rath and 10 be returned by him 70 the holders after
dsrsed thereon the accrued interest on the SAID
to the principal in estimating the dividend pay
able thereon In case the terms Of the
property bas been struck Off the next highest bidder
e Re sb sS @ opC Of taxing the prUper
at his bid upon paying or aGeoangng IN manner %
after the expiration Of the aforesaid twenty days
from the day OF sale When The purchase IN money
confirmed by the Court, the said Thomas Mcfilrath
sers good and sufcient eed 5s deeds conveying the
premises unto him or them IN tee simple. -,
noee 70 Who Who PROPOSED @ srq 10
sa sh II S %a on
road to the amount Of S6 679 "a, which must be
urtber m cIaim 81 for work aud money nsa nS
vanGed for the payment OF which the purchaser
4 paper from Frederick Mussel, Of Noblestown,
against the road amounting 5000, for grading done
SSs 6s HSs be- a "a Il liable If fSq oG the e sh"' the
Mr.. smithson called Tor any additional notices but
sired could pay such atteptlon TO the notices read
they thought proper The sale. however, would be
pi eme Court He then asked bids, aud amer few
T aas star and the competon be
quite spirited between the agents Of the Penn;
New YORK represenSiDg capitalists in that and other
S SS noesS GssSF general oas sSa
Seweil, Esq. The advance at first did not ex-
thousand had been BID Then Then the ioe,n bids rG Sd
the second hundred thousA nd had been offered Then
they came In one hundreds until one million dollars
had been bid At this point the advances decreased
in amount but the competition continued very spirit
ed. When one million seven hundred thousand dol
lars offered, the auctioneer plead hard for Two
millions and remarked that although lhe quaciKIiing uiIi
OF geese could not Rome. there was no telling
what effect a quack from some OF those present
might have i'm this case. The offers then advanced In
five, ten and twenty thousands. until eighteen nun;
dTed thousand was offered, when new Riohmond,n
as the auctioneer said. offered eighteen hundred
and forty thousand. The new BIDDER, however. olo
NOT have the requisite nerve." and in Jew moments
the competition had settled down between the Penn
sylvania Railroad Company and the parties repre-,
sented by Mr. Ellis. A pause occurred, when the bid
OF 81 945 900 was announced, and the auctoneer called
"once (" 'twice." Before "thrce' was uttered, Mr..
Ellis went five thousand more but his opponents
were not to be beaten and they secured the prize at
the price OF one million nine hundred and sixty thou
sand dollars. w. J. Howard, ESQ, solicitor or the
Pennsylvania Railroad Company appearing as the
The twenty. five thousand dollars IN cash were then
handed over to Mr Mclrath. and the other terms OF
the sale complied with The sale occupied about an
hour and conducted with that spirit and energy