, 1877-02-24

CENN1SS.
CORRECTIONS TO TIN FORECLOSURE SALE
Judge Drnmmohd was occnptcd all .lay ycs-
tcrtsay In hearing the objections to the Masters
report Of the foreclosure sale In the case Of
Fosdlck l. Fish ". The Chicago, DanvilIc &
vinccnncs Railroad Company. Mr. t" g. Pratt,
en- behalf Of the tonsllmtiers, objccttnR, askcd
that the Argument on The objections should 10
continued until Monday on account Of tho sfcll-
ness Of Mr.. D. c. Cook, Ills assoclato counsel.
Judge Drummo,,d snsi he coufd not hear II
Monday, as tc intended 10 lcaye for Springfield
Monday evening, and would hardly lavc time to
attend to the muttcr, and ~ the argument hal
once becn postponed on account Of Mr.. Cook, 1t
ought not TO be continued ngAln-
btE. Pratt then read the petition Of Afr.
Slaughter, onc Of tho bondholdcrs who object
cd. Mr. Slaughter statet. tat ho was t.tc holder
Of eight 81 900 bonds Of the ronl ot the first
Issue, a,,sl Interested IN tho lstrtbutl0n OF tho
purchase money. Tic askel that the sale lie set
aside and new ono or!lcFctt. because the sale
was not lnatIo IN conformity with the dccree anil
with the published notice Ut tue sale, tuassnc1l
As tho claim and notfcc stated that tic sale was
to 10 made for "cnal,," while tho Mater, ut
tho sale, required the purchase mones .o he mld
in gold. There was not that amount Of goltl In
tile City of Chlcago that conli 10 purchased At
that diie, and tho change In The terms Of snle
discouraged bidding. THO other reasons were
that bidders wero not Informed how mitch taxes
werc due on the road; tl1at there Tas conabl-
| to prevent bidding, Wh1rl. combination pur-
chased the bonds Of ]. +. Armour a. q fllsl,
price TO prevent him from becoming bidder;
tio goi.l was not pnid by 1iinlcko7cr on tho DAY
Of tile sale. as required BY tho terms.
d9 support Of III, petition; M, F., psatt rad the
tho sale. Aflant stated that he was ono Of q
combination formed to purchase the road: that
lie had full authority to purchase on casl, la-
sls; that when the Master announced that the
Ind no authority w}iatcser to bid In that way;
that he had, no gold with which TO make tho
purchase, nor could he obtnin, d sufficient
umount to do so: that nevertheless he made
ltevcd that II the sao shotl.l be act aailu, and
| q new one ordered, tho road would brlnx a
much laEgas prize than $l,55), 900, the anuunt
at which It WIS struck of. Two Or thrcu. .utlcr
| aifIslavita wete mndc which tended to support
the allegations of tho pcttion.
Mr.. Pratt then went On with llfs argument,
dwelling especially on the fact that In Ills opin-
| ion tho tesms Of the sale had been chnnsed.
| any party Interested wns entitled to have tho
| safe sct aside, IS d nlattcr OF right and law,
| where there was manifest error OIL the part Uf
| the Master. Anv ono seeing tho notice OF the
currency, and would only be prepared to mako
Raynenth ~. .tNas VEL, ~ nu!lon !Ad uotio.
lnerc wa' aot ehous" Ro'a IN th'ea9o lof the
puFpSSss' ...,,, -
vnage - pstoau t sas1s Ivy 1ssLc. taaL .eegEapn
eauaa nase Heth assH 1uh M eeF;su @ ~ uohoslt
ohtalneu t9at Nonlu nave oeen cqntvalcnt
!or Roia. II coHnhei eoulu snow tlnt ~
aby sMpseaHent ~ stal, @ salo tna toaa wonlu
Urshg $;VuuV, ne Wohlu SCI tbo rocent
salc aslue. sehs!n!e vitH Noulu oe taken Or
1he ss4HsnSliail; ana w! tAl lGs !Au Haa tile
| money VIII WHICH 70 pu1ehnSe Roiu thetf Hontu
nave peeb nu !1'nlcu!ty " Makln9 tne ptarcllasc:
inc Jnaec ulA mol tnlnk tno a1astcf departed
| rom Tug teIns ol Lna ueefee. Ihat loniih tiat
tne pohaa NGfo payaole III t5ola. aliA wion thc
uccfee ataleu t,e ta,e @ ~as 1or easn u prot,a1ly
mcant casn eolu. lhe supreme Court tsd de-
cluea therc wefe Two kings OIL cash-gold cash
atsi sfecnna:k ehsn.
Mr. fratt incn hfgsa that lntanuinK purcl,?s-
efa were hisIcu ailu pfeIua'cca because tie
MAstef announeen tno tond 10 20 eold snbtcet
to taxea, PIT giving no amount; II ~as mat
tor OF Vita! Importance 10 tho bla4era to kAow
tho amount q tho taxcs. A1thongh tho price
tho road realized Was not grossly Inadequate,
| yet It was worth considerably moro.
~, Henry tsa"losd, .a sl we o anpoarcd ", for the
mhKe ny argument nc linen reau aisldaVtts q
tilnAeKopef, one ol Lne pnrciinsers, ot 4. =:
Armour anu one or two otlcss, Inflobleu tllht
Tue aniaounSeMcnt tnat payments were to 20
saln ~ any others No oheeii9ns sSu s1s ao ~
Bolton. who bid up to 81 300 COO, ur anr otl,ura
fEHA 1$S%ff hh &AAfI mjr stall