The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-03-06


AUCraOa SALES E,nrure Days.
NJ nsscnS,, g CO., Is Isl
5 Il, stock Brokers' aud Auctioreers,
once l1o4 Main street.. First National Bank
Binding.
toMM1ssIoNER'ssALE ATAUcTIoN
~ OF TIE
CHESAPEAKE AND OHIO RAILROAD.
Pursuant to decree OF the Circuit Court OF the
.ity Of Richmoud va, entered on the 18th day OF
and DEGREES A TeInGy
Irustees. re-. The Chesapeake and Ohio Railroad
Company and others, AND 70 decree OF the Circuit
coan bs aa ln os f5ae o.
Der, 1877, In the suit of Duncan and Calhoun trns-
tees, 90. The Chesapeake and Ohio haiiroad Com
msd ana as secal se9omuissoner appointed said
DEGREES will sell At public aSs,Sn 70 70 f1s nlsnest
Of s he eiy ef
The hour Of 10 NJ. on the 2p DAY 0F Or, APRI @,
1873, the entire RhIL ds;2d GF daE s ap
PnNY, extending as and now in operation from
point on The james river, below Richmond; in the
State yeua 70 point on The 0l9 .b v ri tn
I FA ssa;f 81 ri and n
includiHg its FRANCHISES FOR EXTENSIONS;
BRNGhE ~ ans sa id beong
R5.ssss Ss1iffESS s. iiS TeE
ING STOCK, MATERIALS. and other PROPER-
WHEREOF is Contained in the inventory and reports
made by the Receiver under the order OF the Court
nasnr T be open for in
city of Richmond, Va, for reasonable time
before the sas,hat is to say all t nnd a e,a
gage to the Board of Public Works Of Vir;
ginia executed by The Virginia Central Eailroad
Company, bearing date on the LIST day OF April,
1850, including the rights, privileges. ana iran
chises embraced in said mortgage; all and singular
the premises, rights, privileges, and franchises In
GUIDED and sEnyeYsd In and Sv a Von
executed By SAID Virginia Central Railroad Conn.,
pany bearing date on the I'd day of June, 1914 all
fna included and Conveyed in and By
.trtst-deed TO John B: Young and Robert K: Howl,
SON. executed by saia v f dav o
1866: ali and singular the premises, rights ana
privileges, and franchises INCLUDED and conveyed In
Butler Duncan, William Orton, and Mathew +.
Maury by the Chesapeake and Ohio Railroad Com
pany, bearing date on the LIST day OF October 1858
all and singular the premises, rights privileges and
franchises included and conveyed in and by the
trust-leed executed by said Chesapeake and Ohio OIL
liam Butler Duncan, bearing date on the 18th day
of January, 1870; and all and singular ting prem,
ises rights, privileges, and franchises included ana
Chesapeake and Ohio Railroad Company to the said
Philo e. Calhoun and William Z; Kitchen, bearing
date The 1s dss OF s 9ee61 e1Tev free dis
charged of and from The liens and incumbrances OF
the said several mortgages and deeds OF trust and OF
or mortgages, and free and discharged Of and from
all and singular the liens Of every kind and descrp-
ton in said DEGREES found and reeited except Inc
shall be established and the lien for the certificates
of Indebtedness of the receiver for the payment OF
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
ninety days as the undersigned may designate on the
day OF sale, The sum of Two hundred thousand dol
lars t$200,00e) In cash; but any sums which the
Receiver shall In the meantime have applied out OF
any earnings Of the road after the day OF sale TO the
interest due and accrued the obligations OF the
Virginia Central Railroad Company, or to such
other purposes rs the same may have been properly
applied under the orders Of the Court, and any sums
which at the expiration of the said ninety days he
er aS The ruad shall be dedncted from the amount
so required to be paid In cash.
For so much Of the purchase. money as snail d.
Com pany At the dale Of the hereinafter
mentioned as directed TO be made for the security
thereof, and rs may be then unpaid and unprovided
for (he amount whereof will be estimated as nearly
as possible and made known at day of sale, credi
equal annual instruments, with Interest thereon at
the rate of six per cenum per annum, payable
scIni-annually.
For the further sum Of four hundred and eighty
seven thousand five hundred and sey5nty-eght dol.
lars and ninety cents (s4S7,57s.90( representing
and Howison, and also the principal Of the several
sums found and stated to be due IN the eighth para
graph of said decrees) and also for any additional
sum which may he due on account OF any OF the
claims in said eighth paragraph mentioned 1.-THE
amounts whereof will be asccrtained rs near.
" Us possible and made known on day OF
salej. a credit is to be allowed of five years
from date OF SALE with interest at the rate of eight
per csnum per pc pa b Dnr thereo w
represents rhe principal Of the eight per cent bonds
Of the Virginia Central Railroad Company; and
sums at the rate of six per centum per annum pay
able Semi-annually.
For tho further sum OF one million eighteen thou.
sand dollars (S1O1SOOO), representing the princi-
pal outstanding under the trust-dced Or mortgage
to Fry and Macfarland and Lyons, and under the
credit Is to he allowed from the date Of sale until
the 1st DAY of July, 1887 with Interest at the rate
OF SlX per eentpm per a aanu payane c semi1am
credit above stated is to be allowed and the inter-
est thereon. and OF the bonds which may he issued
rs hereinafter mentioned Is to be secured by trust
deed, executed to the satisfaction Of the Court on
all and singular the premises sold constituting 4
first lien thereon to be executed and delivered to
multan eously With the delivery of the conveyance
of the premises to the purchaser
rs deeI snail ny , of sn al at o
The different 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 any disagreements to the form and tenor there
Of the same shall be settled and prescribed by The
courts, on application. To enable the purchaser or
he or o s to
payment of the said several sums in respect of which
credit is to he allowed, rs aforcsaid and TO provide
Indebtedness of the Virginia Central Railroad Com
pany, The several specific liens and the expenses OF
the cause. he or they may or, ate and issue, from
time 10 time under the said deed OF trust and 10 be
secured by the lien thereof, when and 10 the extent
that the same shall be endorsed with the certificate
of the trustee In said deed 10 that eject bonds to
aggregate amount Of the existing indebte dness OF
the Virginia Central Railroad Company, and the
amount OF such specific liens and expenses with In
terest accrued and to thereon and the amount
which has been uscertancd 10 be due to and decrecd
In favor of the State of Virginia for arrears OF taxes
and of such denominations and Tenor rs said pur-
chaser or his representatives or assigns may deter
mine.
when requested, to the effect that they are secured
by the lien thereof. to the extent and amount that
any part of the said existing Indebtedness Of the
Virginia Central Railroad Company, or of the said
specific liens and expenses arrears of taxes shall
have been previously pale OIL, or upon the receipt
by him Of the par value thereof with accrued inter
est, or upon the surrender 10 him OF an equivalent
amount in the obligations required 10 be given by the
purchaser 10 the several creditors of the Virginia
Central Railroad Company for that part Of the pur-
chase-money for which credit Is 10 he allowed
The net revenues and earnings OF The property
accruiug between the date Of sale and the convey
In or OF beir orsssGn tar nav
bot be otherwise disposed of in pursuance OF
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-
chasers. his or their representatives or assigns. and
in the first place towards The payment and discharge
OF that part Of the purchase-mOney applicable to
the payment and satisfaction of the past-due in-