The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-03-20
AUfyFFOg SAI1ES-Fuf1re Days 49,.
ny Dasonpor, g Coz 5f.5s
stock Brokers and Anctioneers,
once toa nfain street First National Bank
building.
COMMISSIONERS ALEATAU AUCTION
OF TIE
CHESAPEAKE AND OHIO RAILROAD.
A, nd /, B sAI.Es-Fnrare Day.


CHESAPEAKE AND OHIO RAILROAD.
Pursuant 10 q decree of the Circuit Court Of the
city Of Richmond, Va, entered on the Iotn ay 0r
said Court in the suit OF Duncan and Calhoun;
trustees, ps. The Chesapeake and ONO haliroaa
Company and Others aIe 70 afsIef In o. The STATE Of
west Virginia. entered on the 18th day OF Deem
ber ST. in the snls of Duncan and Calhoun sr,
nan and others also therein depending the under;
Signed. as speciaI commissioner appointed by said
DEGREES will sell at public auction 10 me nngmes
he Inc. hour our Of NJ on the eP DAY Of AF ls4S
5s5s tPf eRttre AID kbt dafo PaERoab
PANY, extending and now In operation from TO p, .
point on the james river, below Richmond; IN me
State of Virginia 10 point on the Otlo river IN
the State Of West VIRGINIA, together with al It's
FRANCH1sEs RIGHTS and dd RRIyILEGSEfs; iG-
BRANCHES, BRIDGES, and all other rights ana
ss.1 EANps I Ss Rptk
NY real and PERSONAL more particular description
whereof is contained in the inventory and reports
made by the Receiver under the ORDER OF inc CourI,
which will be open for inspection by pers onS pro-
posing to bid at the Office of The Receiver, In me
City of Richmond, Va, for reasonable ' nm.
the Rssnts Is DO in an the
gage to the Board OF Public WORKS S Oh
ginia executed by the Virginia Central Raiiroad
1850. including the rights, privileges. and fran
chises embraced in said mortgage; all and singular
the premises, rights, privileges and lrancnlse s IN
cludcd and conveyed in and by the trst-ueed 10 H.
| ". Fry william Fl. Mcfarland and James Lyons,
executed by SAID Virginia Central Railroad Conn., n
bearing date on Inc "a qay Gt 0 nrSese
! franchises included and conveyed In and 6y tne
trust-dced to John 3. Young and Robert Z. Howl, Howl,
| Company, bearing date OH the 9Th day Of February;
| 1855: ali and singular the premises, rights ana
and by the trust-deea TO Pbo c. Calhoun. William
Butler Duncan, William orion, ana Mathew +.
Maury by the Chesapeake and OhS Katroao S eGs
all and singular the premises, rights privileges, anu
| franchises included and conveyed In ana by the
Raroad Company to P S G. Calhoun and VII
liam Butler Duncan, bearing date on the 15th day
of January, 1870; and all and singular the prem,
ises rights privileges, and franchises included ana
convened in and by the trust deed executed by said
| Chesapeake and Ohio Railroad Company 10 the said
Phlo G. Ggn 2I Of H dnben Is
| All which will be sold rs entirety free and dis
charged of and from The liens and lncrmDranceS OF
The said several mortgages and deeds OF trust, ana Oh
and from each aud every one OF SAID deedS OF trust
or mortgages, and free and discharged Of and from
all and singular the liens OF every kind and descrip-
ton in said DEGREES found and reclted except The
liens for lakes thcrcln referred to- if any such liens
shall be established, and the lien for The certificates
of indebtedness Of the receiver for the payment OF
the arrears of taxes due to the State Of Virginia. II
any of the said certificates shall remain unpaid ~
! the time of sale
| TIE TERMS OF SALE WILL DE 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 me
day OF sale, the sum of two hundred Thousand dol
| lars fS2OO,0O0) 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 on the obligations OF the
Virginia Central Railroad Company, or TO such
| other purposes as tho 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
may have in hand after paying The expenses OF op-
GRAZING the rUa shall be dctluc cd from the amount
so required 10 be paid III cash.
| For so much Of The purchase money rs shall be
equal to the balance of the interest due and accrued
on the obligation; of the Virginia Central Kalroad
Company ut the dale Of the trust-dced hereinatlcr
mentioned rs directed TO be made for the security
thereof, and rs may be thon unpaid and unprovide'
for Uhe amount whereof will he estimated as nearly
as possible and made known ut day of salc, credit
Is TO he allowed of three years from day OF sale III
| the rate Of six per ccntHm per annllln' payable
For the further sum of four hundred and eighty
seven thousand five hundred and scysn y-csht dol
| lars and ninety cents (*4S7.57S.90) representing
the principal due nicr the trust decd to Young
and lIowlson, and also the principal of the several
sums found and stated to he due in the eighth para
graph of said dccrees). anu also for any additional
sum which may lie due on account of any OF nc
|
amounts whereof will be asccr:aincd rs near:
~ as possible and made known on day OF
from date OF sale, with interest ut the rate of eight
per ccntum per annnn, payable scmi-annllaily
upon the sum of s460,50o, The part thereof which
represents rhe principal of the eight per cent. bonds
Of the Virginia Central Railroad Company; and
with interest upon the residue of SAID principal
sums al the rate of six per ccnum per annuM, pay
able seml-annually.
For tho further sum Of one million eighteen thou.
sand dollars {s1,01s,0O0l, renrcsening the prnc.-
| ri,fSf i,uu All
TO Fry and mcfarland aud Lyons, and under the
mortgage to the Board of Public Works of Virginia
the lst day of july 1887 with interest ut the rate
OF SIN per ccutuIn per annum. payanlc sci!il-an-
nuay. PAYMENT of the said several sums for which
credit as above stated is to be allowed and The inter
| est thereon. and OF the bonds which may BE- Issued
as hereinafter mentioned, is to he secured by trust
deed executed to the satisfaction Of the Court, on
| ali and singular the premises sold, constituting {;
first lien thereon. to be executed and delivered to q
trustee trustees to be appointed by the Court 81
mulianeously with the delivery Of Tie conveyance
Of the premises TO The purchaser Sc
| preserve all existing priorics of lien as between
the different CLASSES of bond; OF the said Virginia
Central Railroad Company. Appropriate and con
respect to which credit 10 be given rs aforesaid
shall be created, issued. aEI delivered 10 The scyc:a
creditors entitled 10 rccciweilc same: and i'll cast
OF any dsa@rccmcntS is to The form ana TENOR there
| Of the same shall be settled and prescribed by The
courts, on application To enable the purchaser OF
purchasers. or his misrepresentation rassns
if he or they shall desire to do So To anticipate III,
naymcnt of the said several sums in respect OF which
credit is to he allowed rs iforcsad and 10 provide
fer ih; reimbursement Of Sums paid in respect OF Inc
indcbicdn of the Virginia Central Railroad Com
rany, The several specific liens aud the expenses OF
| the cause lie or they may create and issue, from
time to lime under the said decd Of trust and TO hc
secured by the lien thereof, when and 10 the extent
that Tie same shall be endorsed with the certificate
Of the trustee in said deed 10 that eff CT bonds t6
such an amount. not exceeding III the aggregate IN,
aggregate amount OF The existing 1nieDtt uucSS ol
| the VIRGINIA Central Railroad Company, and The
amount OF such specific liens anu expenses, with III.
tercst accrued and accrue thereon, and The amount
which has been aSccrtaincd 10 be due to and dccrccd
In favor of the State Of Virginia for arrears OF taxes
and of such denominations aud tenor Us said pur.
chaser or his representatives or assigns may dcter-
The said Bonds are to be endorsed by the trustee
when requested, to the effect that they are secured
by the lien thereof. 10 the extent and amount thai
aIly part of the said existing Indebtedness of the
Virginia Central Railroad Company, of the saiL
specific liens and expenses or arrears OF taxes shall
by him Of the par value thereof with accrued inter
| est, or upon the surrender 10 him OF IN equivalent
amounts the cations required 10 be given by tho
purchaser 10 the several creditors Of the Virgins
Central Railroad Company Tor that part OF the pur.
chasc-moncy for which credit is 10 he allowed.
acrrnir% between the date OF sale and the convey.
ancc Of possession TO the purchaser or purchasers
his their representatives or assigns, that may
the orders OF the Court. vii! be appropriated and
applied under direction OF the Court 10y 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 that part OF the purcNa:e-moncy applicable tC
the payment and satisfaction Of the past.due III
terCst The bonds oil the Virginia Central Railroad
| Company, or towards the payment CT any install
lncnts of interest that may become due ana payable
between the date Of sale and The transfer and con-
vcyanCe of the property to the purchaser, il such
| order as the Court may direct
For so much Of the purchasc-money as may bc
applicahlt1o The payment OF the rast-due lnteres