The New York herald., 1873-11-27

member OF their firm, nor any person on their be-
curity on account thereof except the secur,,
ltes aforesaid, and that there Is now Que ana
owing from the bankrupts TO Brown Brotners q
Co. the Just and full sum OF $1,000 with interest
tnereon rom the goth day OF July to The 27th DAY OF
October. 1873, at the rate OF six per cent per
annum, and thereafter at the rate OF seven per
cent per annum.
And IL further appearing to the Court that the
said securities are OF nuctuating and varlaDle
value, and that at times during the past three
months the aggregate OF the market values thereon
mas been less than the amount OF the SAID deot,
whlle the present market values thereof Will In the
aggregate exceed the same, but that such
value is liable at all times 20 depreciation.
:, And It further appearing to the Court tnat at
the time and place appointed for the meeting OF
the creditors OF the bankrupts TO choose an as
slgnee, the choice OF an assignee was. by the vote
OF Brown Brothers d Co., adjourned to the 9TH day
OF December next and that there is now no as
signee BY 70 whom creditors can give noiice OF sae
rupts' property.
And It appearing TO the Court that 1t is alike the
right OF the said creditors and for the best inter-
ests OF the estate OF the bankrupts that the amount
OF their debt and claim should now, where the
same Is practicable, be realized upon the sale OF
the said securities so far as the sale thereon may
be necessary TO that end.
And on reading and fling the petition OF the
oankrupts and the mover thereto by Brown
Brothers Co., with due proof OF the service OF
notlce OF this motion on the attorneys OF the nm
secured creditors VINO had proved their claims, ex-
ceptlng creditor to the amount OF about $500,
and after hearing Mr.. Martin for the petitioners,
Mr.. Potter Tor Messrs Brown Brothers and Co. and
Mr.. Bangs for % unsecured creditors who have
proved claims amounting to S71,000 and pwards,
no one else appearing.
1t is now by this Court considered ana ordered
tnat the Dankrupts be authorized, upon notice to
r. N. Bangs, one OF the attorneys OF the un.
secured creditors now appearing, TO sell the said
and Michigan Southern Railway Company and 100
shares OF the capital stock OF the Illinois Central
aocE Coz tHomPany and 100 shares o. the capital
Company and also the $4,000 OF the Lake Shore and
Michigan Southern registered bonds held by Brown
Brothers Co.. as Aforesaid or so much thereof as
may be necessary to pay the Indebtedness OF the
banKrupts herein Aforesaid and the costs and ex
penses thereabouts hereby fxed at the sum OF
$500, such sales TO be made at the New York Stock
Exchange. from time to time, in the regular way
a. the market prices at the times OF such sales
sum Sl not less than the amount due Brown
Brothers \ Co., as aforesaid. And 1t is
be authorized and directed to deliver the
said stocks in pursuance OF such sales SO to be
made on receiving from the purchasers thereof
the proceeds OF such sales, unless and except so
far as notified to the contrary by the said Bangs |;
such proceeds to be retained by them and applied
IN or toward their claim against the bankrupts and
their estate
Brokers' notes Of such sales are to be delivered
70 said +. N. Bangs as fast as sales are enected,
and before the deliveries upon such sales are
completed respectively.
1t is further ordered that the said sales so to be
made shah be deemed made under the authority
conferred upon the Court by section 20 OF the
Bankruptcy act and otherwise, and shall be deemed
conclusive evidence as against the assignee OF the
value OF the securities SO sold; and sucn sales
shall bind and operate to convey as well the in
terest. estate and title OF the assignee when ap-
pointed as the interests, estate and I'd title Of the
securities SO sold.
Nothing in this order contained is to impair the
pose OF the pledge they held. or prevent them to
make any application to the Court in the premises
as they may be advised, and bankrupts' attorneys:
the result OF the sales so made.