The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-03-27
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!.
COMMISSIONERS sALEA ABDUCTION
CHESAPEAKE AND OHIO RAILROAD.
Pursuant 10 n decree of The Circuit Court of the
March, 1877, and DEGREES subsequently entered by
said Court, in the suit or Duncan ana Gainouh,
trustees, Us. The Chesapeake ana one d.. grcnit
Court of the county of Knnawha. I'm the State OF
West Virginia entered on ibe 18th day or Decem-
Der. SIT, In the suit Of Duncan and Calhoun Irus-
iees, vs. The Chesapeake and Ohio Railroad Com
pany and others, also therein depending the under,
signed, as special commissioned @ ~ sal1
bidder at the rooms Of the Chamber OF Commerce.
No. OF Main street. In the city Of Richmond, at
s7a so4E e Of enra NJ 81 f. e "a =
CHESAPEAKE AND OHIO RAILROAD COM
poin on e james yer below Richmond in the
the ef STATE q West vrsinia tegsther With al ITS
BRANCHES. ,BRiDGES and MI other rights and
priv EISDs BEp1Ss idc f2n@
ING STOCK. MATkRlAf7S. and other T R0pEK
TY, real and personal more particular
made by the Receiver under the orucr of the Court
which will be open for inspection by persons pro- 1o
posing to bid. at the Office of the Receiver In the
city of Richmond, ya;. for reasonable, time I'm,
before le sae0.lt is to say all ana o SIN
gage Is the Board OF Public Works of Vir.
GINA executed bv the Virginia Central Railroad
nsrnE date sh on the is day ,0 81 Ap
chises embraced In said mortgage; all and singular
the premises rights. privileges, and franchises In
". Fry, William II. nIacrarand, and James Lyons,
executed by SAID Virginia Central Railroad Com,
pauy, bearing date on the I'd day of June, 1854 all
rir,nu hp y1,p
franchises included and conveyed IN and by inc
trust-,ecd to John b. Ionng and Robert z: Howl,
Company, bearing date OH the 9Th day of February;
1866; all and singular the premises, rights ana
and by the trust deed to Philo c. Calhoun. William
Butler Duncan, William Orion, and Matthew L.
Marry by lie Chesapeake and ohio Railroad Con.
pany, bearing date the 1st day of October, lS6S:
nj! and singular tie premises, rights privileges, and
franchises included and conveyed in and by the
trnsr-decd executed By said Chesapeake and Ohio OH,
Railroad Company to Philo G. Calhoun aud Will
liam ButIer Duncan. hearin" date on the 9th day
Of january, 1870; and all and singular ting prem;
conveyed in and by the trust. deed executed by sa1
Chesapeake and Ohio Railroad Company to the said
Phio {. Calhoun and william X. kichen, bearing
date on the st day of October. 1872.
All which viii be sold rs an entirety free and dis.
charged Of and from the liens and incunbrsnces 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 Of every kind and descrip-
ton in said DEGREES found and reclted except The
liens for taxes therein 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 tNcS due TO the State Of Virginia. II
any OF the said certificates shall remain unpaid at
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 ;me thereafter not exceeding
ninety days as undersigned may designate on the
dav OF sale. the SUN Of two hundred thousand dol
lars $500, OO0) 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 10 me
interest due and accrued the obligations OF the
Virginia Central Railroad Company, or to such
other purposes 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
may have In hand after paying The expenses or OPP
Grating the road shall be deducted from the amount
| SO required to be paid In cash.
For so much OF the purchase money rs shall BE-
equal to the balance of The interest due and accrued
Company at the date Of the trust-dced hereinafter
mentioned rs directed to be made Tor the security
for (ihc amount whereof will be estimated rs nearly
as possible and made known 1T day OF salcl, credit
equal annual Inslalments, with interest thereon at
| the rate of six per centum per annum, payable
semi-annually.
seven thousand five hundred and sev;nty-cight dol
lars and ninety cents t$4S7,57s.9Ol representing
the principal sum due under the trst-deed TO Young
and lIowison, and also the principal of the several
sums found and stated to be due In The eighth para,
graph Of said decreesl and also for any addii@nad
|
claims In said eighth paragraph mentioned (lhc
amounts whereof will be asccr:aiucd rs near.
sc1. p0 credit is to be allowed of five years
from date of sale. with interest ut the rate of eight
per ccntum per annnm; PAYABLE SemI-aRn ,,
represents Tie principal Of the eight per cent. bonds
Of the Virginia CcuIral Railroad Company; and
| with interest upon the residue of sad principal
sums al the rate of six per ceuum per annum, pay
For tho further sum Of one million eighteen tlou
| aud In
pal outstanding under the trust-dced or mortgage
10 Fry and Macfarland;n ID, Lyons and un !; the
a credit is to he allowed from the date OF sale until
the LIST day of july 1887, with Interest at the rate
| OF SIN per centum per annum. DayanIe seml-all-
nlally. Payment Of the said several sums for which
credit rs above stated Is to he allowed and the inter
est thereon. and OF the bonds which may he issued
as hereinafter mentioned Is to be secured by trust
deed. executed to the satisfaction Of the Court on
| all and singular the premises sold. constituting Il
| first lien thereon To he executed and delivered to a
trustee or trustees To be appointed by the Court 81
simultaneously with the delivery OF the conveyance
| of the premises 10 the purchaser.
preserve all existing priorittcs Of lien as between
the different GLASSES of bonds of the said Nirglnia
| Central Railroad Company. Appropriate and con
yeuicnt obligations representing lie several sums in
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; aud In case
of any disagrccmcnts as TO the form aud tenor there
Of the same shall he settled and prescribed by the
courts, on application. To enable the purchaser or
purchasers or his or their Representatives assigns,
If lie or they shall desire to do TO anticipate the
payment of the said several SUNS In respect of which
credit Is to he allowed. aforesaid, and TO provide
for the reimbursement of sums paid in respect of the
indcbI cdncss of the Virginia Central Railroad Com
pany, The several specific Hens aud the expenses oil
the cause. hc they may create and ISSUE from
time To time, under the said decd Of trust and 10 be
secured by the lien thereof. when and To the extent
that the same shall be endorsed with the certificate
Of the trustee in said deed 10 that effect bonds To
such m amount. not exceeding in the aggregate the
| aggregate amount OF The existing indebtt dneSS Ol
| the Eiroiria Central Railroad Company, and the
amount OF such specific liens and expenses with in
terest accrued and to accrue thereon. and The amount
which has been aScertainc To be dte to and decrec
i'm favor OF the State Of Virginia for arrears OF taxes
and Of such denominations and tenor said pIIl-
chaser or his representatives or assigns may deter
mine.
when requested, to the effect ihar they secured
by the lien thereof. TO the extent and amount thai
any part o. the said existing Indebtedness Of tho
Virginia Central Railroad Company, az of the said
specific liens and expenses or arrears OF taxes shat
| have been previously paiG OIL or upon the recep!
by him OF tile par value thereof with accrued inter
| est. or upon the surrender 10 him an equivalent
amount In the oil cations required to ne given by the
purchaser 10 the several creditors Of the Eirgini;
Central Railroad Company for that part Of the plr
| chase-moncy Tor which credit is 30 he allowed.
| The net revenues and earnings OF the property
accrIing between the date OF sale and the convey
ancc OF possession to lie purchaser purchasers
his their representatives or assigns that may
| not lie otherwise disposed Of in pursuance 81
| the orders Of the Court. will be appropriated ant
| applied under direction Of the Court by the
Receiver for The benefit Of the purchaser or pur
ciaSerS- lis or their representatives or assigns ant
in the first place towards the payment and discharg,
of that part of the DurcraSe-moncy applicable t
the payment and salts faction Of the past-duc in.
tercst the bonds OF the Virginia Central Ralr oa'
| Compare or towards the payment OF ary install.
men,s OF Sntcrest that may become nuc payab!,
between the da;e Of sale and the transfer and
Veyanee OF The property to the purchaser, In such
/ order as the Court MAJ Greet
For so mach of the purchls"-nloncy AZ may be
applicable 10 the payment OF tie rast-due t,itcrest