The daily Argus. (Rock Island, Ill.) 1873-1877, 1875-11-05
From the Inter Ocean, NoU. 4th.
Judge Drummond Conditionally Con-
firms the Sale of the Rockford,
Rock Island g st. Louis
Railroad,

A1d4AEOdU.
Judge Drummond yesterday entered the
following order in the United States circuit
court in the case of the Union Trust Com
pany of New ork against the Rockford
Rock Island 4 st. Louis Railroad Compa
ny confirming the sale of the railroad pro-
perty to HeYman Osterberg, the agent of
the German bondholders, for 81. 32O. 900:
No exceptions having been made to the
masters report of TIE sale of the mort
gagged property and premises mentioned in
the bill OF complaint, on application of the
purchaser lcymau Osterberg to be put
in possession of the property and premises
sold by the master, it is hereby ordered
that upon the payment of $35O,0 900 by
said Osterherg to the master, Henry w.
Bishop, on account of his said bid liz adj
dition to the 100000 already paid) and
the SUN Of S4,200,000 of the bonds and
coupons issued under and secured by the
mortgages OF June Is, 1868, and Of Oct,
%, 1868, or certificates of Indebtedness is
sued IN lieu Of said coupons, VIM, H. Fer
ry, the receiver herein. on or before the
eighth day of November, surrender the
possession of the Rock ford, Rock Island &
st. Louis Railroad. together with the pro-
perty appurtenant thereto, of every kind
and description which may have come into
his hands as such receiver mot including
the money in his pOssession) and now held
by him, the said property to be retained by
the said Osterberg until the absolute con-
hrmation OF the sale, as hereinafter stated,
subject to the control and direction of the
court; and the said Osterberg to make no
sale. incumbrance or disposition of any
kind of the same, or any part thereof, with
out the order of the court. The said Oster.
berg to receive the earnings and income
and pay the operating and other expenses
thereof after the lst day of November
1875, until the further order of the court.
And, in case of the payment by the said
Osterberg of the remainder of his bid fol
the said premises to the said Master IL
Chancery, and of such other sum expend
ed by the receiver as the said purchase
shall be adjudged liable to pay, on or be
fore the fifteenth day Of December, 1878
the sale OF the same shall in all thing
stand confirmed. and the said Osterbers
may apply to the said Master, under tn,
direction of the court for a sufficien
deed conveying to the said Osterberg al
the property sold by the said Master t.
him.
It is further ordered that William II
Ferry, the receiver herein, from the fund
in his hands. pay off and discharge al
claims by him incurred for operating O
other expenses while in the possession G
said railroad, or heretofore by this cour
authorized by him to be paid. so far as tn
means in his hands will enable him to pa
the same, and if any surplus remains il
his hands as receiver after such payments
to pay the same over to the master as d;
rected by the decree heretofore entered i
this cause on the 18th day of July, 1875
and that he present his final account Of hi
actings and doings as receiver herein wit
, all reasonable dispatch.
, It is further ordered that out of til
purchase money received by the master
and now in his hands, he proceed to max
D the payments by him directed to be mad
1 by the decree entered in this cause on tn
18th day of July. 1875, and in the name
therein specified; and that he receive frol
the purchaser at said sale, in lieu of cash
on account of the balance Of the sum bid 8
S said sale any of the outstanding and III
, paid bonds, coupons, or certificates of il
debtedneSs hereinbefore mentioned, tn
percentage at which said bonds, coupons
or certificates Of Indebtedness shall be r,
ceived to be thereafter determined by tt