The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-03-01
SOLl FOR A SONG.
THE WABASH g. ERIE CANAL.
The Old State Ditch Under the
Hammer at Terre Haute.
GOBBLED BY GAPIN,


BEEN NIBBLING AT 1T FOR SEVERAL
YEARS PAsT-THE WABASH CATFISH GET
A FEW MoRsELs.
As announced in the Sentinel yesterday
morning, the Wabash & Erie canal was
sold at Terre Haute, under decree of the
United States Court, on the foreclosure
suits of J. K. Gspin and others. The iol-
lowing are the full particulars of the sale,
from the Express About 8 O'Clock yes
terday morning, the crowd interested in
{ &c Wabash d Erie canal, began to gathe r
about the court house, and at 10 O'Clock the
rush up stairs to the Circuit Court room
began. In very few moments the room
was filled with a motley crowd, jamming
and jlstling as all crowds are wont. The
bidders quietly disp osed of themselves In
side the railing, every available chair being
occupied, and even the tables grooming
under the weight OF one or two gentle
mer. There were present the usual num-
Der of simless fellows who are drawn by
some Irresistible impulse into every crowd.
These TITLED with an empty chair where
ever one could be found, sauptsred
a friend with an affectlonate familiarity
awful to behold. The voice of Judge
Gookins, master in cbancery, finally broke
on the air, as he began reading the descrip-
ton of the properly to be sold and the
terms under which 1t was to be disposed
OF. After reading the description ne re-
marked that the object OF the trustees and
himself, was to get as high price for the
canal as possible, and 1t was determined
to do everything that could be fairly done
to that end, not only in Justice to the
bondholders, but to all concerned. He
read the entire description, but the follow
ing was
THE MOST IMPORTANT TO BIDDERS:
First-All that part of the main line of
the Wabash & Erie canal, extending from
the western boundary of the city OF La
fayette, eastward to the Ohio state line, in
Guiding Its bsnks, margins, tow-psths,
slde-cuts, feeders, basins, righ.-ot- way,
locke, dams, water power, and structures,
aud all lots and lands used as sites for
wat sr powers and franchises, to be offered
for sale in body. II a satisfactory bid
shall not be made for the same, then the
said proper y will, in like manner, be
off req for sale in the sec ions and
divisions following, viz:
First Dlvision-From the western
boundary of Lafayette to the east line OF
the piers of the Csrrolton bridge, in the
county of Carroll, including the dams
across the Wabash river 1t Pittsburg
and across Deer creek and Wildcat
creek, and all the spourtenances, as
ABOVE specified, the main line OF this
division being about twenty-five miles in
extent.
Second Dlvision-From the esss line of
the piers of the Carrolton bridge to the
western boundary of the city of Logans-
port, about nineteen miles.
Third Dlvision-From the Western
boundary OF the city of Loganspolt TO
the wess end of lock numtsr 19, including
the Peru dam and feeder, about nineteen
tiles.
Fourth Division-From the west end ul
lock No. 10, at Peru, TO the wes t end OF The
lower lock az Lsgrc, including the Lsgro
dam and feeder, about twenty -one miles
Filth Division-From the wet end OF
the lower lock a. LsgIo 10 the west end OF
the low, r lock az Roanoke, about TWEEN v
two mills.
Sixth Division-From the west end of
the lower lock at Roanoke to the crossing
of the Pit s5urg, Font Wayne q Chicago
railroad, about thlltsen miles.
Seventh Divlsion-From the crossing of
the Pitts burg, Fort Wayne d Chicago rail-
road to the Ohio state line, about twenty
one mills.
THE BALL OPENED.
Ait;r a communication read by Mr..
Williams. a Lafayette attorney, regarding
the right of parties who lease water power
in Laisye ts, the ball opened with bid Of
S25, 900, offered hy Judge LaRue, of La
iayette, and somebody else covered il"
with SIS, 900, and some other bidder put
thousand on the top of that, fol-
lowed closely by al anxious soul who
wsItsd it $4,000 worth. 1t then ran
steadily upward, touching sSs, 200, ss5:-
$4,000, Sal 900, S42 600, S4S, 600. S44,,
coo, $4,000, and then Judge LaRue
boldly put on another thousand. To
this Jude CIsypOo), of Greencas,le, re-
sponded with $500 shake of the head,
and the small change then began flowing.
Five, ten, twenty and fifty dollar bids
followed each otner in rapid succession,
and it seemed to be contest of cautious
ness. But at last some one drawer than
the balance began putting up the sums,
and soon the whole wss run up to SGT, 900.
The judges stub psncil went up and came
down on the dc SIX three times. and the en-
tirety WAS the property.of Jonathan K.
GspeD, the principal bondholder, and the
gentleman under whose suit foreclosure of
the mortgage is made. Judge Gookins
arose and stated that test bids would now
be taken on the seven divisions. He said
frankly that these bids would not be final,
and IL they averaged more than the en-
tirety came to, the bidding would be re-
opened. He then called for bids on the
divisions. The sale of the first division
was
LIVELY BIT OF BIDDING,
opening out with 900 bid by Judge La
Rue. The shuttle-cocK went flying back
and forth until 1t rested with La Rue at
cost of sl9,325. The second division
opened with 500 bid by Mr.. Bowen. of
Dslphi, and the house was startled by the
folio wing up of this meager starter by
$500 bid making it 5000. Amounts were
added until The cum of $3.50 was reached,
when Judge La Rue became the purchaser
for the Northern Ice Company. The third
section was interesting enough to one gen.
tlemsn to give 1t a $500 send of. 1t ran up
the scale until it struck the key of 900
aud was sold to three gentleman from
Lafayette. Section tour began climbing
at $1,000. and ian up until it was knocked