The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-12-27
AUCTION SALES.--FUTURE Days.
Observation-Disclosures
OF THE
CHESAPEAKE AND OHIO RAILROAD.

her. 1877, In the suit OF Duncan ana Calhoun trts-
tcss. pS. The Chesapeake and Ohio Railroad Com
pany and others, also therein depending tho under
signed, rs special commissioner, appointed by said
bidder. at the rooms Of the Chamber Of Commerce.
No. l04 Main street, in the city Of Rlchmond, at
The hour of IL M: on the 2p DAY OF APRIIt;
CHESAPEAKE AND OHIO RAILROAD COM
PANY extending and now , In 1Peraai0nd from a
s sGn OF OF vgnn y pon te ON the oho liver
r. EKASciIsES hisATs ard Sd IES5i6i T.
BRANCHES, BRIDGES, and all other rights and
privileges wha,soeyer 70 The sad company belong
l ING h sToGk MATERfHIs, and other rRGPEK
TY, real and personal, more particular description
whereof Is contained in the inventory ana reports
which will be open for inspection by pers ons pro-
posing to bid, ut The office of the Receiver in the
SlS Of the saIemihat is to say nil and SIN
guar the PREMISES embraced in the mort
gage to the Board OF Public WORKS cry OF VIZ,
Company, bearing date on the LIST day Of April,
1856, Including, the rights, privileges ana iran
chscs embraced in said mortgage; all and singular
the premises rights privileges, and franchises in-
cudcd and conveyed In aud by the trst-decd to II.
W. Fry, William II: Macfarand, and James Lyons
pany bearing date on lhe 2d day Of June, 1854; all
and singular The premises, rights, privileges, and
franchises included and conveyed , In ana ~ o e
son, executed by said Virginia Central Railroad
Company, bearing date on the 9th day OF FEBRUARY,
1866; all and singular the premises, rights anu
nrivicscs and franchises included and conveyed in
and by the trusdeeA to Philo G. Calhoun, William
uer me WILLIAM , 0Gt9 o ana Waraad COM
pany, bearing date on the lst day of October, 1868
all and singular the premises rights, privileges and
trnst-dced executed by said chesapeake and Ohio
Railroad Company TO Phio c. Calhoun and Will
of ya Hilary 1877 and i ali and singular the prem
ises rights, privileges. and franchises included anu
conveyed in and by the trust deed executed by SAD
Chesapeake and Ohio Railroad Company TO the said
Philo G. Calhoun and William X. Kitchen, bearing
date on the 1st day of October, 1872.
All which will be sold us an entirety free and dis
charged of and from the liens and membranes OF
the said several mortgages and deeds OF trust ana OF
and from each and every one of said deeds OF trust
all and singular the liens of every kind and dcscrp-
ton In said DEGREES found and recitcd except Inc
liens for taxes thcrein referred to, if any snch liens
shall be established and the lien for the certificates
of Indebtedness Of the receiver for the payment OF
the arrcar5 OF taxes due to the State Of virginia. II
any of the said certificates shall remain unpaid at
the time of SALE ...
THE TERMS OF SALE WILL BE AS FOLLOWS:
The purchaser shall pay on the day of sale. or
within such short time thereafter not exceeding
ninety days the undersigned may designate on the
day OF sale The sum of two hundred thousand dol
lars f$200,000) In cash but any sums which tue
Receiver shall In the mc1ntimc have applied out OF
any earnings Of the road after the day OF sale TO the
interest due and accrued on the obligations OF The
Virginia Central Railroad Company, or to such
other PURPOSES as the same may nave DetH
APPLIED under the orders of the Court, and any sums
which at the expiration Of The said ninety days he
may have in hand after paying the expenses OF op.
Grazing the road shall be deducted from the amount
so required to be paid In cash.
For so much OF the purchase-money as shall Dc
equal to the balance Of the interest one ana aGGrue
Company III the date of the rust-deed hereinafter
mentioned rs directed to be made for the security
thereof, and rs may be thon unpaid and unprovided
for iihe amount whereof will be esima ted rs nearly
rs possible and made known 1T day of sale credit
is to he allowed of three years from Gay , Ht sale
the rate of six per ccnlum per annlm, payable
scmi-annually.
seTcn thousand five hundred and sevinty-cight dol
lsrs and ninety cents ($4 S7,578.90l representing
the principal sum due under the trlst,decd TO ounS
sums found and stated to be due In the eighth para
graph Of said decrccs, and also for any additional
claims in said eighth paragraph mentioned nhc
amounts whereof will be asccrtained rs near
ly. as possible and made known on day Of
salc) n credit IS TO be allowed of five years
from date of SALE with interest at the rate Of eight
per centum per annnm; PAYABLE semi-annuay,
represents The principal Of the eight per cent bonds
OF the Virginia Central Railroad Company; and
with interest upon the residue Of SAID principal
sums II the rate Of six per ccntum per annum pay
able scmi-annually.
For tho further sum OF ono million eighteen thou.
sand dollars slolsoool, repressn.tns the princio
mortgage to the Board of Public " orkS OF Virginia,
credit Is to be allowed from the date Of sale until
the list day of July se7, with interest at the rate
OF SIN per centu@ per a1nam PAYABLE 81, sem ,Hn
credit as above stated to allowed and the inter-
est thereon. and Of the bonds which may be issued
hereinafter mentioned rs TO be secured 10y trust
deed executed to the satisact ion Of the Court, on
all and singular the premises sold, constituting
first lien thereon, to be executed and delivered to
S dee Of Tic ss
of the premises to the purchaser
preserve all existing priortics Of lien between
The difercn, classes of bonds OF the said Virginia
Central Railroad Company. Appropriate and con-
respect to which credit is 10 be given as aforesaid
shall be created issued. and delivered to the several
creditors entitled to receive the same; and IN case
Of the same shall be settled and prescribed by The
courts, application. To enable the purchaser or
if he or they shall desire to do So to anticipate the
payment of the said several sums In respect OF which
credit is to be allowed rs .foresaid ana 10 prosidc
Indebtedness of the virginia Central Railroad Com
pany, the several specific liens and the expenses oil
the cause he or they may create and issue, IRON
time 10 time, under the said deed OF trust, and to be
secured by the lien thereof when and TO the extent
that The same shall be endorsed with the certificate
of the trus in said deed to that effect. bonds to
such amount. not exceeding In the aggregate the
aggregate amount OF the existing Indebtedness OF
amount OF such specific liens and expenses, with in
accrued and to thereon and the amount
which has DCeO dSCPrEttnGu I'D DC tO
in favor of the State of Virginia for arrears Of taxes,
and of such denominations and tenor as said pur-
chaser or his representatives or assigns may deter
mine ...ts.. .-. :,
The said bonds are to be endorsed by the trustee
when requested, to the effect that they arc secured
any part of the said existing Indebtedness OF the
Virginia Central Railroad Company, or OF the SAID
specific liens and expenses or Arrears OF taxes snail
by him of the par value thereof with accrued inter
ost, upon the surrender to him Of an equivalent
amount the obligations required 10 be given by the
Central Railroad COMPANY for that part of the pur-
chase-money for which credit Is TO he allowed.
The net revenues and earnings of the property
accruing between the date Of sale and the convey
ance OF possession 10 the purchaser or purchasers,
his or their representatives or assigns, that may
the orders of the Court. will be appropriated and
applied under direction of the Court by the
Receiver for the benefit Of the purchaser or pur-
chascrs his their representatives or assigns and
in the first place towards The payment and discharge
Of mat part OF n no tbe
tercst The bonds OF the Virginia Central Railroad
Company. or towards the payment of any install
ments Of interest that may become due and payable
between the date Of sale and the transfer and con-
veyancc of the property to the purchaser, III such
order us the Court may direct
For so much of the purchasc-noncy as may he
applicable 10 tho payment of the pist-due interest
ON the bonds secured by the mortgages or trust
deeds executed by the Chesapeake and Ohio Railroad
Company 20 Duncan and Calhoun, and Calhoun and
Kitchen, respectively. in The ratio and proportion
by said cecrccS gstaD1Sned, credit IS 10 oealoWeu
OF twelve years from date OF sale; but the under
signed will receive from the urchaser or pur-
chasers his their representatives assigns, the
interest-c coupons of the said bonds In payment ~
such rate per cenum Of the par value of the said
coupons as will be PAYABLE to the holders OF such
coupons upon the distribution Of the proceeds of sale
under the priores OF lien as by said DEGREES settled
and determined. .-=
For so much of the purchase money as may be
applicable to the payment of the pr ncipal of said
bonds In the ratio and proportion by
said DEGREES established the purchaser OF purchasers
his or their representatives assigns Will be allowed
a credit for such part thereof will be due and
payable In respect OF each class of bonds for period
of time corresponding to rho time which each class
Inc At N rim before the maturity