New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-04-15

| lien riyen 70 secure the bonds and coupons
| set forth in the deed of trust aforesaid in
| said deed of trdst as well as IN said bonds,
set forth therein. there IL provision that
| said bonds should become due and payable
upon the failure of said corporation to pay
the coupons of interest attached to SAID
| bonds upon presentation of the same and
demand of payment of the same at the
domicile of the agency OF the said com
pany, in the said city OF New York, and
the continuance of the said company in de-
fault to pay said coupons OF interest of
said bonds for and during the term OF six
months from and after demand OF payment
of the same.
The court further declares that on the
first of October, 1872, and on the first day
of April, 1873 there was failure of said
corporation to pay any portion OF said cou-
pOns, maturing and matured on said days,
and there has been and still Is continuing
default on the part OF said corporation IN
the payment of said coupons, contrary to
the requirement and stipulation of said
bonds and deed, up to and after the filing
of the bill in the case, and that in
consequence of said default of the payment
of said coupons On the days said coupons
fell due. and the days of legal presentment
thereof, and since, right has accrued to
the compliments to enter upon and take
possession of the property described IN the
deed Of trust aforesaid, anu that the said
cOmplainants did on the twenty-secOnd day
of March. 1873, with the acquiescence and
consent of said corporation enter upon said
property, and hold the same in possession
tor the protection OF the holders of the
bonds and coupons of said company, and
did Immediately after the default of the
said company. on the first day OF April
present, and filed their bill IN this cause,
and said corporation has answered said bill,
al cSNt
the compliments under said deed of trust
and the bonds ascrbed therein, and that
the bonds ascribed therein have been issued
and are in the hands Of bona tide hold
erS thereof, to the number OF 1000, OF
$1,000 each; that the interest Of said bonds,
unpaid on the first day OF October, 1872,
amounts to $lG0,090, art the payment of the
same was and is refused, and that the in
terest of said bonds, unpaid on the first
day Of April, 1873, amounts to $l60,000 and
the payment of the same, was, is refused;
making an actual and present indebtedness
upon said bonds and the coupons thereto
attached of 1890, 900, which said trustees,
under said deed OF trYst, are entitled to
! collect, by sale of the property OF said
| company, under the powers contained in
| said deed of trust, and said trustees ask of
this court to collect the same by sale of
said property in accordance with said deed
! of trust, and submit to conduct said sale.
under the orders, directions and DEGREES of
| this court.
Wherefore, the court doth order, adjudge
| and decree that said deed of trust or mort
gage, bearing date March s, 1869, copies
| of which are filed as exhibits to the
| pleadings in this case, is sufficiently estab-
| lished as valid and subsisIng security for
| the debt of 81 1870, 900, according to the
tenor and effect of the bonds and mortgage
&C, al IN ha do
fault aforesaid and that the said COM
plainants are entitled to hold, possess and
manage said property of said company
under the orders of this court during the
tendency of this suit, and until sale can
| be made thereof under the authority of this
court, and the court does hereby confirm
| and satisfy the act of surrender and de-
| livery of possession of said property to the
| complanauts by the defendant herein; and
| the court further orders and DEGREES that at
a time within thirty days after the sigma
| ture of this decree advertisement shall be
| made in two daily newspapers published in
| the city of New York, TO wit: the New
| York Times and the journal Of Commerce,
and one other daily or weekly in said city,
| as said master in chanCery may select, and
in two daily newspapers published IN the
| city Of New Orleans. to wit: the New Or
| leans REPUBLICAN and the New Orleans
| Times, and in two daily newspapers pub
lished in the city of Mobile, to wit: the Re
| publican and the Register. for the full period
| Of six weeks cOnsecutIvely, all the property,
| movable and immoyable. and all the rights.
! privileges, immunlties conveyed by the de
! PENDANT to the cnmplainants in said deed OF
| trust, whether the same. 20 wit: said prop
erty, movable, immOvable. lights, franchises
and estates be vested or contingent. exist
| ing in possession or action. for sale at puO-
| lie auction to the highest bidder, in which
! said advertisement said property aforesaid
| shall he described in full accordance with
the terms of said deed of trust, ard shall
| fully state ard set forth the reserva-
| tions and membranes mentioned IN
said deed Of trust as having priority
and preference of all claims set forth IN
said deed OF trust.
Said advertisement shall specify the time
and place of sale and the manner in which
the property shall be divided, for the puI-
pose Of sale, whether in parcel or III
bulk.
The sale of the portion OF said road, with
all the property movable and immovab!e,
with all the rights, privileges and immunl-
ties attached thereto and conveyed by the
defendant to the cOmplainants in said deed
of trust, which lies to the west of the Mis-
sissippi river, between the westerly bank of
said river and the city of Houston, in the
New Orleans, at such place, and at such a
day and hour as the masters hereinafter ap-
pointed shall by their advertisements
hereinbetOre ordered see fit to fix.
The sale of thu portion OF said
road. with all the property nova
bic and immovable, with all the
rights, privileges and immnuities at
tached thereto and conveyed by the de-
| PENDANT to the mplanants in the said deed
Of trust which lies between the east bank
of the Mississippi river and the city OF Mo
bile, including that portion thereof which
lies within said city of Mobile. State OF Ala
| hama. and including also that portion
thereof which may be connected with the
crossing of the Mississippi: river, in order, to
transfer freight or passengers between tile
east and west banks of said river on the
line of SAID railroad shall be sold in the city
Of New Orleans, at such a day and hour AS
the Masters hereinafter appointed shall ny
| their advertisements hereubefOre ordered
see fit to fix.
The court doth further order and decree
that Robert II. Shannon and John w. Cur.
| ley. masters in cilancerv, are here.
by appointed ana instructed as SAID
! masters 10 carry out the oFdef
and DEGREES Of this court with regard TO the
! advertisement and sale OF all the property.
! movable and Imlnoyahle, and ali the nights.
! privileges and Inllnuuitles conveyed ny the
defendant t@ the cOmplainants in the SAID
deed of trust, whether the same, to Wit:
said property. movable, immovable, rights,
franchises and estates, be vested or c0Itin-
gent. existing in possession Or action. shall
see that said advertisements are regularly
made and proper in torn, and that SAID SAFE
or sales be regularly conducted and the
interest Of all parties creditors of the prop
erty surrendered Ivy the defendant to the
cohpialnants IN this case, are protected
SAID masters shall join with the plain