The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-03-07
,.rrt.y.lsyI 1865 81. ..ss s,sss.

B ONCE 1104 Main street. First Natonai Bank
Building.
CoAIMIssIoNER'ssALE
or THE
CHESAPEAKE AND OHIO RAILROAD.
Pursuant 10 a decree OF the Circuit Court OF the
city of Richmond Va, entered on the 18TH day or
March 1877, and DEGREES subsequently entered by
said Court, in the suit OF Duncan and Calhoun,
Company and others, and 10 decree Of the Circuit
Court Of the county Of kanawha., N inc 2ia.e Oh
West Virginia. entered on The 18Th day OF Deem
aa tas st al and Ohio Railroad on
pany and Others. also therein depending, the under,
signed as special commissioner aprohhea ~ sala
bidder. at the rooms Of the Chamber or Commerce.
Main street In The city q R 6 Pa a.
IL sos The q entire n q .Rs -
CHESAPEAKE AND. OHIO RAILROAD COM
Extending and Below 0
the e'f state lefn Vest t. virginia. tosstns Win
iaeiasIss is FRANcHIsEs FOR EXTENSIONS
BRANCHES, BRiDGES. and all other rights and
priv 'S sse
ING STOCK, MATERIALS, and other PROPER
TY, rea. and personal, more particular description
whereof Is contained in the inventory and reports
made by the Receiver uudcr the ORDER Of the Court
which will be open for inspection by persons pro-
posing to bid at The 1ce OF inc seeabe IN ,ne
gular the PREMISES embraced IN the mort }It
ginia executed bv The Virginia Central Railroad
Company, bearing date on the LIST day OF April,
$50, including the rights, privileges, ana drdn
the premises rights privileges, and franchises in
Guided and conveyed IN and by the trqst-dfed to H.
executed by said Virginia Central Railroad Com;
pany, bearing date on the I'd day of June, 1854 all
and singular the premises, rights, privileges, ana
trast-deed to John B. Young and Robert Z: Howl;
SON, executed by said Virginia Central Railroad
isss: n ali D and Singular the prsmses rights and
privileges and franchises INCLUDED and conyeyed In
Bu but es b, Duncan WilIia,n Orion, and Matthew +.
bIaury by the Chesapeake and Ohio Railroad Com
pany bearing date OH the 1st day of October, 1858
| franchises included and conveyed in and by the
trust-deed executed by said Chesapeake and Ohio
of january, 1879; and all and singular the prem;
ises, rights, privileges and franchises included and
conveyed In and BY the trust deed executed by said
Chesapeake and Ohio Railroad Company 10 the said
Philo &. Calhoun and William X. Kitchen, bearing
date on the LIST day Of October, 1872.
All which will be sold as all entirety free and dis
charged Of and from the liens and membranes of
the said several mortgages and deeds OF trust and of
or m ortgagcs and free and discharged Of and from
all and singular the liens Of every Kind and Gescrip
ton in said DEGREES found and reGIted except the
liens for taxes thereia referred TO- If any such liens
shall be established and the lien for the certificates
of indebtedness of th2 receiver for the payment OF
the arrears OF fxes due to the State of Virginia. II
any OF the said certificates shall remain unpaid at
the lime 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
Jn,
day OF snle The sum Of two hundred Thousand dol
lars L$200,00el In cash ; but any sums which the
Receiver shall In the meantime have applied out nf
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, OF TO SUCH
applied under the orders of the Court, and any sums
which at the expiration of the said ninety days he
entIng The rua, shall be deducted from the amount
so required to be paid III cash.
For so much Of The purchase money as shall D.,
on the obligations of the Virginia Central Railroad
Com pany at the date of the trust-deed hereinafter
thereof and rs may be thQn unpaid and unprovidet
| for Uhe amount whereof will be estimated as nearly
as possible and made known at day of sale), credit
is to he allowed of three years from day of sale In
equal annual inSlalments with interest thereon ut
| the rate Of six per cenlum per annum, payable
| semi-annuay.
For the further sum of four hundred and eighty
seven thousand five hundred and sey.nty-eght dol
lars and ninety cents (S4S7,57S.90l representing
|
and Howlson, 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 lncn Toned uhe
| amounts whereof will be ascerIained as near:
saleJ. d credit is to be allowed of five years
from date of sale, with interest at the rate OF eight
per centum per annnm, payable <eml,aInnaIy
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 nj tho rate of six per centum per annuln, pay
able semi-annualy w
sand dollars Isl 0lsO00), representing The priuc!-
pal outstanding under the trust-decd Or mortgage
to Fry and sIacfarland and Lyons, and under the
mortgage to the Board of Public Works of Virginia,
credit is to be allowed from the date of sale until
the 1st day of july 1887, with interest ut the rate
of per on e r ad sms or When
credit rs above stated is to be allowed and the inter
est thereon. and of the bonds which may be issued
decd executed to the satisfaction of the Court on
all and singular the premises sold, constituting
trustee trustees to be appointed by the Court ST.
| simultaneously with the delivery of the conveyance
of the premises to the purchaser.
The said trust deed shall by It's terms, maintain and
preserve all existing prioritics OF lien as between
the different CLASSES of bonds Of the said Virginia
| Central Railroad Company. Appropriate and con-
Tenent obligations representing The several sums in
respect to which credit islo be given rs aforesaid
shall be created Issued and delivered to the several
of any disagreemeutS 10 the form and tenor there
Of the same shall be settled and prescribed by the
on pr his op Their assigns
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 he allowed. as Aforesaid, ana TO provide
for the reimbursement of sums paid in respect of the
indebtedness of the virginia Central Railroad Com
nany the .eyer; specific liens and the expenses OF
the calI.t. he they may CIT ate and ISSUE from
time 10 time under the said deed OF trust, and to be
secured by the lien thereof, when aud 10 the extent
I,nn ba
of the trustee in said deed 10 that effect bonds to
such an amount. not exceeding IN the aggregate the
aggregate amount OF the existing ndebtt dneSS OF
the Virginia Central Railroad Company, and the
amount OF such specific liens and expenses with in
teres accrued and to accrue thereon and the amount
which has been aSccrtancd 10 be due to and decreed
In favor of the State of Virginia for of taxes
and of such denominations and tenor rs said pur-
chaser or bis representatives or assigns may deter
mine.
The said bonds are 10 he endorsed by the trustee
when reluesled 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 or arrears of taxes shall
have been previously paiG off. 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 igatons required 10 be given by the
purchaser 10 the several creditors Of the Virginia
Central Railroad Company FOR that part of the pur-
chase-u,oney for which credit Is 10 he allowed.
The net revenues and earnings OF the property
accruing between the date Uf sale and the convey
ance OF possession 10 the purchaser or purchasers.
HIS Ut iuclI REPRESENTATIVES VI .iSSSlS, tuiI
not lie otherwise dispose 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-
chascrs. his their representatives or assigns, and
In the first place towards the payment aud discharge
of that part of the purchase-money applicable to
the payment and satisfaction of the paSt-due in-
tercst on The bonds OF the Virginia Central Rail road
Company. or towards the payment of any ins'al-
ments of interest that may become que ana payable
between the date of sale and the transfer and con-
veyanre of the property to the purchaser, in such
order as the Court may direct.