The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-04-02
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6tTcet-flrst Ast
81. BaiIdIiag.
;fsosfMIss1oNER'ss ALEAltf AUCTION
s--s--. or THE
CHEsApEAKE AND ONO RAILROAD.
Pursuant 10 d decree Of The Circuit Court OK the
city Of Richmond, VA, entered on the 29tn Gay OF
March, 1877 and DEGREES snrsTsa Dy
trustees, ps. The Chesapeakc and Ohio Railroad
Company and others, and 10 decree OF tne Slfcus
81 Rs eenay q On Of
Der. 1877 in the snt of Duncan and Sa,noua, rns
Chesapeake and ono tbe u nS
signed, special commissioner @ ~ Sna
deerees will sell at public auctions TO me mgnesl
NO OF Main street, city Of Ric R 81
the hour OF ~ NJ ON the I'd DAY 3f E Afhl II
1sns tef fRfre A RbI ohfo RaiIRoh6
,hs below Kiehm 2: lin in The be
ss STATE Of West v{rsinia together with al IT'S
FRANCHISES. RIGHTS, and PRIxlLESGES6; IN
H ss.pscf Is Eat
Masgoeyer g the said s9.apany 9elSng
qs sfoek and oher
TY. real ana personals more particular descrlption
whereof IS contained in the Inventory ana reports
made by the Receiver under the 0ruer Oh Ie CouIt'
posing to bid. the Office of The Receiver: In The
city OF Rtchmond Va for rea siI ana SIN.
su GUAR the PREMISES embraced In the mort 2I
gage 70 the Board OF Public works S .. np
Company, bearing date on the ISL day OF hp .I
1850, including the rights, privileges, and iran
chses embraced In said mortgage; al and singular
cluded and conveyed in and by The deed to II.
Fry William a. Maefarand ana n yames lyons ion
nany bearing date on The I'd day of June, 1s54 all
ana singular Inc premises, rights, privileges, and
trust-deed to John E. Young and Robert r. Howl.
sou, executed by said Virginia Contra. Railroad
ssg al and singniar the premises, rights and
privileges, and franciS es INCLUDED and conveyed in
and by the tr,lst-deea to Philo G. Calhoun William
| Butler Duncan, William Orion, and Mathew +.
Maary by the Chesapeake and Ohio Railroad Com
pany bearing date on the LIST day of October S6S
al! and singular the premises, rights privileges, and
! franchises included and conveyed In and by the
irnst-dced executed by said Chesapeake and Ohio
Railroad Company to phio {: Calhoun t, ana Ei M dly
of January, 1870 ;and all and singular the prem,
ises riehs, privileges and frnnchi.es included ana
| Chesapeake and Ohio Railroad plny 10 the said
/ Philo G. Calhoun and William X: Kitchen, hcnring
| date on the 1st day of October, 1872.
| All which viii be sold entirety free and dis
charged of and from the liens and incumbrauces of
the said several mortgages and deeds OF trust ana OF
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 oil every kind and dcScrip-
ton in said DEGREES found and rec'cd except The
liens for taxes therein referred to, if any such liens
shall be established and the lien for The certificates
the Arrears of taxes due to the State Of Virginia if
any of the said certificates shall remain unpaid at
| the time Of sale.
| THE 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 rs the undersigned may designate on the
day OF sale the sum Of Two hundred Thousand dol
Receiyer sai in The mcantIme have applied out Of
any earnings Of the road after the oy or sale to the
en na road On copa1 or to SUCH
other purposes as tho came 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 OPP
GRAZING The road, shall be deducedfrom the amount
| so required to be paid ncasil. q - p
| For so much Of the purchase-noney as shall bc
equal 10 the balance of Che interest due and accrued
on the obligations of the Virginia Central Railroad
| mentioned us directed to be made tor the security
thereof, and may be then unpaid and unprovide,.
for Uhe amount whereof viii be estimated nearly
as possible and made known at day OF sacl. credit
is to be allowed Of three years from dry of sale in
equal ANIMAL instruments, with interest thereon ct
| tile rate of six per centum per annum, PAYABLE
| Semi-annualy.
seven thousand five hundred and scynty-eisht DOL.
lars and ninety cents (s4S7,57S.90) representing
the principal sum due der the rust,dged TO Young
and Howison, and also the principal of The several
sums found and stated to be due In the eighth para
graph of <aid decrees and also for any additional
| sum which may b. due on account Of any of the
claims in said eighth paragraph mentioned iihe
amounts whereof Will be aSccrsaincd as near
as po ee Is TO bs aoMcd Of on 1--WE
from date of saIc with interest at the rate of eight
per centum per annnm, payable semi annually,
represents The principal of the eight per cent bonds
Of tue Virginia Central Railroad Company; ana
| with interest upon the residue Of SAID principal
sums at the rate of six per centum Der annuln, pay
able scmi-annualv.
sand dollars l$1,01s, o00), Representing the princi-
paI outstanding under the lrust-tlecd or mortgage
to Fry and Maefarland and Lyons, and un ln the
n credit Is to he allowed from the date OF sale until
te lst DAY Of July, 1887, with interest at the rate
nuaIlS 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 be secured by trust
deed, executed to the satisfaction Of the Court,
all and singular the premises sold, constituting
first lien thereon, to be executed and delivered to
trustee trustees be appointed by the Court 81
simultaneously With the delivery Of the conveyance
The said trust deed shall, by its 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-
yeuienr obligations representing Inc several sums In
respect to which credit is 10 be given aforesaid:
shall be created issued, and delivered to the several
creditors entitled to receive the same: and in
of any disbursements Us to the form and tenor there
| Of the same shall be settled and prescribed by the
purchasers his their representatives or assigns,
If he orthey shall desire to DO so, TO anticipate the
paymcnt OF the said several sums In respect OF which
credit is to bc allowed Aforesaid and TO provide
for the reimbursement OF sums paid in respect OF the
Indebtedness Of the Vrsinia Central Railroad Com.
pany The several specific liens and the expenses OF
the cause. he or they may crt ate ana issue, from
time time under the said deed OF trust and 10 DC
secured by the lien thereof, when and to the extent
that tie same shall be endorsed with the certificate
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 Indebtedness OF
the Virginia Central Railroad Company, and inc
amount OF such specific liens and expenses with In
tcrest accrued and to accrue thereon and the amount
which has been ascertained 10 be due 70 ana decrecd
I'm 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.
when requested, to the effect that they secured
by the lien thereof to the extent and amount that
any part Of the said existing indentedneSs or the
specific liens and expenses OF arrears OF taxes shall
have been previously paic off, or upon the receipt
by him OF the par value thereof Wild accrued lnter.
amount In the obligations required TO be given by the
purchaser 10 the several creditors OF the Virginia
chase.money for which credit is to be allowed.
The net revenues and earnings OF The property
accruing between the date OF sale and the convey
his or their representatives or assigns, that may
not be otherwise disposed OK 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-
rhascrs bis their representatives assigns, and
in the first place towards The payment and discharge
the payment and satisfaction Of the past-duc iu-
tcrcSt on The bonds OF the Virginia Central Railroad
Com parry. or towards the payment OF any install
between the date of sale and the transfer and con-
yeyanee of the property to the purchaser, in such
order as the Court may direct. ;tE