New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-08-23
AUCTION SALE.


TRUSTEES Sale of the Main Line Of the
New Orleans. Mobile and Tex.s Rail-
road, West of the Mississippi River,
and its Appurtenances and Franchise.
WBEREAs, THE NEW ORLEANS, MoBiI AND
w Texas Railroad Company Q corporation Gre
General Assembly Of sad State, entitled IAN act
to incorporate the New Orleans, Mobile and Chat.
tancogs Railroad Company" approved November
and approved body polite and corporate by an
act OF the General Assembly of the State of Lou.
siana entitled relative to the New Orleans
poraton Of the State Of A'aoania and authorizing
and empowering said company to exercise and
state of Louisiana approved August 10, Is g. the
name Of said company having been subsequently
| changed by authority Of . Joint resolution Of the
ed eighteenth April, 1871, from the New Orleans
Mobile and Chattanooga Railroad Company TO the
pany, did, under it's original name, to wit: The
New Orleans, Mobile and Chattanooga Railroad
Company and by virtue of the provisions Of an
ana entitled act to expedite the construc of
the railroad of the New Orleans, Mobile and Chat.
I'd IL hs STATE Of
tween it AID the Governor Of the State Of Louisi.
payment Of the principal and interest Of certain
sonss known e. ssco.d mestgags bonds q ths
Company, guaranteed by the State Of Lcuisiana
a for the Of securing the
the then Governor of the State Of Louisiana.
the main hne Of railroad Of the said company con.
structed or to be constructed in that part Of the
State of Louisiana lying west Of the Mississippi
rvr The said main line extending from the
point where it shall intersect the Mississippi river
OnDOsltP the civ OF New OIleana wNafW0rd the
point where il shall cross the western boundary Of
the state of Louisiana, in the parish Of Calcaseu;
tons of the said line of railroad and all the other
rights interests and estates of the said company
n and to the lands occupied by SAID railroad, OF
houses. freight houses, srcrehOIses, warehouses,
pair shops, busire IS ofces and other ofces shops
and buildings, all engines and tenders. cars and
other rolling stock, al machinery, fixtures;
estate within the State of Louisiana sp.
pureraHt to or necessary for the operation Of said
quired by said company, and also al the corporate
franchises and privileges OF said company granted
by the State of Louisiana relative to the construc
ton. operation and use OF said main ne Of railroad
any part thereof in said State Of Louisiana and
said in pursuance of the provisions OF said
Ss IA
payment Of the interest of said sec0Ld mortgage
bonds, or any part Of them and the same ehall re.
and being demanded of said company, the princi.
pal of all the bonds secured BY said indenture and
then outstanding shall upon the expiration of said
sixty DAYS become due and payable, and IN case of
such default it shall be lawful for the Governor of
Louisiana and his successors in once. personally
to be- selected and
| that purpose by the Governor aforesaid and his
successors IN Office to sell and dispose of all
and singula. the property and franchises before
mentioned, ard more particularly desert bed in
said ndenture at pubic auction, at such time and
New Orleans as the said Governor and his sucs s
sors in Office may designate and appoint, having
first gwen notice Of the time and place of sale by
advertisement, published not less than six weeks
immediately prior to the time designated for such
sale, il one or more OF the daily newspapers pub
Eshed in each of said cities of New York and New
Orleans ana in each and every issue of said daily
newspapers. And the sa Governor his suc-
cessors il Office is, the completion Of such sale,
authorized by said iDdenture to make q convey.
ance OF the property sold to the purchaser, and
the said indenture further empowers the sale of
said property real and personal and the franchise
aforesaid IN such portions as the said Governor
his successor in Office may deem advisable having
just reference to the nights and interests Of all
parties to be affected thereby, and duly observing
visions of said indentne in reference thereto.
Aud the said iDdenture further provides, that in
making such sale, reference shall be had to the
provisions Of the third and thirteenth sections Of
the said act Of the General Assembly of the State
h e
erty shall apperta!n TO that portion Of the main
line of railroad which shall have been constructed
and operated. and shall be apPortioned equally
upon each mile thereof, and shah be deemed pro.
ceeds Of the competed portion OF the road, and
that sale may be made Of said railroad subject to
the lien Of the first mortgage and accrued interest
thereon, mentioned in said act, which ia q mort
gage to secure bonds TO the extent Of $l2,sOO,
whereas said indenture of second mortgage,
in compliance with terms of said scs of
the General Assembly, approved February II,
Secretary of State of the State of Louis lana;
and whereas. said company has issued bonds of
8 1000 each dated july i, 1870 PAYABLE On the first
of July in the year 1915. with eight per cent inter.
est per snnum, payable semi annually. on the first
day OF January and July OF each year said inter.
nexed to seid bonds, and said bonds have oeen
guaranteed by the state Of Louisiana in the man
ler and in accordance with the PROVISIONS of said
act approved February H. 1853; and whereas, the
said company has made default in the payment of
the interest said bonds So guaranteed, and said
interest has remained In and unpaid by the
said company than sixty days after the sarue
became due and was demanded Of said c0Epany;
and, whereas, said default has continued up 10 the
present time. Now, therefore, by virtue of the
power and authority in me vested by said act of
the General Assembly, approved sevent enth of
dated July " /, 1870, and as trustee Under e
said act and said indenture of mortgage
will proceed, through G. <. Girardev, auction
eer. in the city Of New Orleans, whom hereby
designate as my agent and attorney for that pur.
pose to sell said main line Of railroad its franchise
and appurtenances, hereinbefore mentioned and
described, a public auction to the highest bidder,
for cash, at twelve O'Clock NJ, at the st. Charles
auction Exchange, in the Rotunda Of the st.
Charles Hotel. in the city of New Orleans, on WE'D
NESDAY, September 80, 1874, in the following sec.
tons and subject 10 the lien Of the first gage
which is lien SECURING first mortgage, bonded to
the ext Mt Of SIP 500 per mile and the purchaser
it is well understood is to take the property adjud
Gated subject to said incum brances and the bid
which he makes will be considered bid for so
much over and above said incumbrance and the
entire amount bid is to be paid In cash, without
any deduction Whatever.
The main line Of railroad to be sold commences
at the point WestwegO opposite the city OF New
Orleans the west bank of the Mississippi river
and extends westward toward and 70 the p0lRt
where it intersects and crosses the western
boundary of the state of Louisiana, in the parish
of Calcasieu, by virtue Of the provisions Of said
ana, approved seventeenth February, 1869. the
rolling stock and personal property 10 apportioPed
to that portion of the road completed and in opera
r The sale will be made in sections az follows:
Section l. From the point Westwego, opposite
the city of New Orleans on the west bank Of the
Mississippi river, to a distance of seventy miles,
and embraces all the main line of road completed
and in operation, and in this section is included all
the rolling stock cars, engines and personal prop.
erty OF the company attached to fne Whole OF said
main lire of road
Section .. All the right, title and interest that
the State Of Louisiana may have in and TO the
property lying between point distant seventy
miles from the point Westwego and the Sabine
river. ~
The purchaser of each Sc ton respectively
acquires all the rights Of way, ROAD. beds,
and superstructures, and all other rights in
terests and estates Of the company in and
to toe lands occupied by the company, EN-.
braced within the territorial limits Of the sec.
tons, and also all depots, stationhouses. engine
or carhouses weodhouses, freight or storeh ouEes,
warehouses, sheds, wharves, machine shops
sidings repair shops. business or other Offices,
shops. and buildings situated within the limits Of
each section respectively, and alsO the corporate
franchises and privileges granted by the STATE Of
Louisiana, in respect to the constructive opera
tons. and Of said main line of road, are &C.
| qured by the respective purchasers Of each sec.
tion so far as they are applicable to the sections
| purchased.