, 1874-06-05


pany." atd which amendnont waa afterwards nccoplcd
BY resolution passed. BY tho Directors Of said dom.
ioh of SEQ. 10 Of tho aot Of Incorporation nforcsa
as required sal lands to bo sold for onsl, tho lon.ls
@ ss s'nSss st j. n sna j on W. ef
aa might 10 .tcorod e8pestent, provided no convoy
ateS of tho le Of any Hell lands sloult be made
raii, either III ca.h Or the bonds Of sald Company.
Aud roHponlenta state that. under tho power 19 con-
hccn sold on long terms Of credit, and In many N
sanccs auol periods of credit lnve not yet expired
ana largo suinh arc duo aaid Company fos 1ahaa no
l.csnondcnta further atswsriax say ~ that nr to ta9
beginning Of January, H. D. 1872, ali sald donated
1 ,oW isa4 .Gs s'i III atloa Sanss ' aan
a2s, 127 acres anSoil, and iew town lots.
And respondents further atata that since tho OK
oonDn ot sad nortsngc saia i oopsny M as Ps o
tho construction bonds Aforesaid, leaving stlil un-
tt'oa ana otzsH m 1sa A. O. q sad
TO The lcn thereof from tho lands aforesaid.
s & s ssnnsSs .sS 1 to pt n an a FIX
Of 40 per cont part Of tlo bonds 10 TAKEN up and
discharged. w
TIat tho unso1d portions OF said linda aro etll
bonds, and aail bonds Will not mature I'LL 4. D. 1875.
i: : EFFORT 70 sE11. AZ Aucr1ox.
And respondents show further TINT said Company
desring to dislose Of nad lans rapidly poasble
II o y 81 # as a'op II;
min no q s ea north ot n1 Terro e ento na
lauda Tllat said Company caused Lifts Of saa land:
10 be proyased md publinhoa. and aunlc notice Of
IN aif aoaah s
woro from their atnation. much more ynluablo than
railroad, and were nlnong tho best or sad nns ton
Mnaod, said Company found It Impossible to sell Had
10 Se sold, nceoring to their cassieaon .,ndor tls
That said co',psny, in 5une A. .. 1871, did oror
for sale, and sell at auction, alt tho sod lands te-
tween pana and alcnaota along tho main line Of aaid
Tha although fnll md ample public notice wan given
Of sucl sales and tho wore old at e!gh Of tho
stations On ssid limo n9aEeat tho lan sold yet sasd
s. per nero for oil saiti lands on an asorago.
That IN March 4 D. asf2 said 99tnlany offered tos
as % @ n oo o AL no Gf @
Counties, 1t minimum rovaluaton mado by compa-
tent md tiainteroatGd men.
That although said sales woro thoroughly advertised
il ADVANCE auid Company GOULD not obtain than
S. "a acre for rAr Of tho lnndH offered, being Tho
will only portonH sold ut such sales.
And respondents eay ta ut tho aoveral auction snles
aforesaid Fnid Company could MT and dit not obtain
sa,no wero offered In sma quantities 10 suit puTchaa~
erB aud did not receive bids therefor equal 10 the
minimum rrlco at Which tho saia lands olasslea
And Eespondcnts In fact Buy that for scveral years
naat 1t las lse ant htin f. imnoaa!bio ~ tley be-
thereof at anything Ike fr or reasonable prices Dy
auction.
EVILS OF FonuEp BALE.
Tint largo pari Of sail a.,ds worth much
thun e. per mere but, II the whole quantity nnsol
or aY argo.pori!on thereof, bo forced upon tho
t It, % saso as M St 81 e fss as ss With
!ch more ena tho inferior qunios Of tho sasd landa
Respondents further stats, upon belief, that If said
lands forced to sao at once It any psre that can
10 olnne at auction, not vAs than s. unro, tho
tto fSuSn rfrr
chased linda from snl Company credit Will abandon
said lands anil throw them back upon resront1cta
fosced @ a aS for sny
prrchaaca and partly raid for:
and respondents further ehew thnt said nasro,d
lands, A thereby avoiding tho great expense Of ita
lan.' department md na agencies Of yasona kinds.
rany, hy its lrcslon executed conditional contract
with cersa!n partcs supposed to be fully responsible,
portions Of said lu,d lying south of the Terre I!auta
4 Alton railroad, md cpnptsing n4ne-tontla Of Tho
wh1le Fs+ asnntt ., per afss isso r.norox ,,
hoped to havo ths substantially dispoaed Of all said
alds b. the grsat money panic IND ether
which was to have taken pace on the lst day Of No
continuously offered said donated lausls nj public Kac,
aa required by the sn!d act Of Incorporation and
o sa Sr u ao a a.
herenbefore Ratea auh did mt ofler tho Balno for
sale at public auction at tho times anu IN TIC n.anncr
specified III said ac approved alarc %, A. D. 1873.
aE4BoNAn1E p1HoMET1oA.
and respondents further ray that under said act Ok
ncorpolaticp and te amendments atortaa1d apd the
grant male bJ Tho State to sad Coanlmuy and by ead
Company to ea1d Trustees, these respondents aro ill.,
ysssa wh M s leg iSn as TO o n ISs
general torns Oh which such sales should 10 made,
6etug required TO net we'll on lshaf Of sas'i Conn
tIa ttllaS state. adts ''l' A'A''' ' '' ." ~ '' -
Tho respondents haye exercised reasonable and
proper discretion in the!r actinas and dongs niore;
sonen!s. and wero In fact tho acts Of these respon~
s All 1 respoasats daay Tint by saa act ., tho Gen.
eral Assembly OF tho sate Of illinois. entitled An
soa osn ' aSesd Company
trust, approved March g. l873 It ii rua thu duty Of
aas s .s, ss 5 s s m g. or my
upon tho terms M p prayed In said l,etlon, ,,....
said Company Of tho right 10 demand the exercise Of
roasonnbte Judgment BY tleas respondents to thu
terms OH which pail luuda shouId hy sold, and tho
times unl 1nanner Of 1naking such aules.
| RIGHTS HoNDN0LDERy,
Respondents further say tat said act Of incorpora.
Company aforesaid, constituted and became con
tract between Haid Company and the staa Of Illinois,
md that, under sald ac md tho truHeea atoreaasd,
md, md ii ti.s holders d said unpaid eonas '1''''
respondents and Trustees to execute said truEt ~
t.t ead las should produce reasonable prfces Tint
respondents werc and still nEs, Invested, unsr the
laws nforcsad, with full power to sell the said auts IN
sch quantities aa would hs oS advantageous to satd
Company and Bad hou14piers.
/ 1sIPAInINu 4 CONTRACT,
And respondents ARE adyiera. md so charge that In
40 fur az said act of the General Assembly OF the Slate
Of nnofe, entitled An net to conrol thu Tr,atccs Of
tile lands granted to tho Illinos csntrai airoad oo
pany execute their trust" prescrlhos, attempts to
prescribe, rato or price for which rosronacns must
sell Baid laudB, any part thereof, II offered; and
directs respondents to otler nai lana for sals In tracts
of not than forty acres: prcscrltos, ut
tenpts prcacribo tho order In which tho shall
bo offered; requires ouch tract Of snid land to bs
offered at public yendue; tluclares that the auc-
tioueer person ac'iug tho same ala cry each tract
for nj asst i've minutes tho aaid act tends to impair
tia nbgaon Of the contract created by tho uct Of t-
corporation ana anonameut aforesaid, is uuhyrrsivc
Of the cgal rights Of said Company aud the holders Of
aRI unpaid bonds mud iH In conflict with the Colatttl,-
t!on of tue United States and th:t Of tho stato OF
And the respondents further alcge that untlor tho
facts herein slne, mud The various rights herein dis.
closed, court OF cmnccry III to only court wherein
tho sul mntbrA aud things hereln presented aud In.