The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-02-06
AUCTION -sALEs- ra.tnre Daya.
-SI---Ses1
ny Dayenport & Cos,
stock brokers aud Auctloncers, q. 81
Office 1104 Main stree. First National Bank
IS Building.
COMMISSION ssALEAT AUCTION

: -t
Building.
noMMIssIoNERssALEAT AUcTIoN
CHESAPEAKE AND OHIO RAI1L.R7 RAILROAD.
Pursuant 10 decree OF the Circuit Court OK the
city of Richmond, Va, entered on the 18TH day or
March, 1877, and DEGREES snleTSa ny
trustees, ps. The Chesapeake and Ohio Railroad
Company and others, ana ,oa decree OF the Grcnif
Court q The county Of Kanawh ; e f hacs, o.
ber,1 s77, in the snit of Duncan and Calhoun trus-
tiers. ps. The Chesapeake and Ohio kailroad COM
Signed, MS special commissioner appointed BY said
degrees, viii sell at public ancton to the highest
No. oof Main r0s Street. e city Of
the hour Of IL NJ. on the ID DAY OF Afkl u,
1s1s the entire RAIL afa AZ COM COM
point on The ', james river. below Richmond. in the
State 81 V G it 70 on orether With ali is
F q o ExTEk Ss's snS
IANp SfigfEi5 n se
Try, real and PERSONAL more particular description
whereof is contained fin the inventory and reports
made by the Receiver under the oroer OF inc Court
which will be open for inspection Dy persons pro
posing to bid. at the Office of the Receiver. In The
city of Richmond, Va, for reasonaDlc lii IN,
s s1ore the ee i Rshs Is b sI M
gage TO the Board Of Public Works 9 OF VIZ
ginia executed by the virginia Central da a nr
Company bearing date on the LIST day OF April,
1850, including the rights, privileges. ana 1ran-
chlsos embraced In said mortgage; all ana singular
and defS y to T.
| ". Fry, William Fl. mcfarland, and James Lyons,
executed by saldYrginia Central Railroad Com,
pany, bearing date the I'd day of june 1854; ali
and singular the premises, rights, privileges, and
| franchises included and conveyed in and by the
to b ssd
Company, bearing date on the 9th day OF February;
1sSS all and the n Ss M
and by the trust-deea to Philo c. Calhoun, William
Butler Duncan, William Orton, and Mathew +.
pany, bearing date on the 1T day of October, 1865:
al! and singular the premises rights, privileges and
trns-dced executed by said Chesapeake and Ohio
Railroad Company TO Pho c. Calhoun and Will
liam Butler Dmcan bearing date On tue 10 lSn DAY
iscs rights, privileges, and franchises included and
conveyed in and BY the trust. deed executed by said
Philo &. Calhoun and William X. Kitchen, bearing
date OIL The 1st day of October 1872 ..
All which will be sold as entirety free and dis
charged of and from The liens and incumhrances of
the said several mortgages and deeds of trust and Of
and from each and every one or said deeds OF trust
|
all and singular the liens Of every kind and descrip-
ton in said DEGREES found and rected except the
liens for taxes thereln referred to, II any such liens
shall be established and the lien for the certificates
of indebtedness Of the receiver for the payment or
the Of taxes due to the State OF Nirginia
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 rs tho undersigned may designate the
day Of sale, the sum Of two hundred thousand dol
lars s2O0O0el In cash 6nt any sums Which nj t1e
any earnings Of the road after the day OF sale to the
interest due and accrued the obligations OF the
other purposes rs the same may lave 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 deducted from the amount
so required to be paid in cash.
equal to the balance Of the interest due and accrued
on the obligations Of the Virginia Central Railroad
mentioned rs directed to be made for the security
thereof, and as may be then unpaid and unprovlded
for (lhe amount whereof viii be estimated as nearly
is to he allowed Of three years from day of sale IN
equal annual inslalnents, with interest thereon ut
the rate Of six per cenlum per annum, payable
scmi-annually.
For the further sum of four hundred and eighty
seven thousand five hundred and sevinty-cight dol
the principal sum due ndcr the trlstdeed to Young
and HowlSon, and also tic principal of the several
L
graph of said decrees) and also for any additional
sum which may he due on account OF any OF the
amounts whereof will be ascer.aiued as near.
~ rs possible and made known on f, Gay Of
s date e5est With 10 De at the e rae
upon n the sum Of $4,000 The part thereof which
of fpi the Virginia Central Railroad Company; and
with interest upon the residue of sud principal
sums at the rate Of six per centum per annu, pay
| a1,1 mi
For tho further sum OF one million eighteen thou.
sand dollars Isl, OILS .O00), representing the prnci-
TO Fry and Macfarland and Lyons, and under the
mortgage to the Board of Public Works of Virginia,
cred, Is to be allowed from the date OF sale until
| OF slX per centum per annum, payable semi AN
nually Payment of the said several sums for which
credit above stated is to be allowed and The inter-
est thereon and of the bonds which may be issued
rs hereinafter mentioned IS to be secured by trust
ali and Singular the premises sold. constituting
first lien thereon. to be executed and delivered to
trustee or trustees to be appointed BY the Court 81
simultaneously with the delivery Of the conveyance
of the premises TO the purchaser.
The said trust dcedshal, by It's terms maintain and
preserve all existing priorics of lien as between
The different classes of bonds Of the said Virginia
Central Railroad Company. Appropriate anu con-
respect to which credit Is to be given aforesaid;
shall be created, issued, and delivered to the several
creditors entitled to receive the same; and in case
of any dsagrcemcntS to the form and tenor there
of, the same shall be settled and prescribed by The
courts on application. To enable the purchaser
purchasers, his Representatives assigns.
If he or they shall desire to DO 10 anticipate the
payment of the said several sums In respect OF which
credit is to be allowed as Aforesaid, and TO provide
for the reimbursement Of sums paid in respect OF the
Indebtedness of the Virginia Central Railroad Com
pany, The several specific liens and the expenses OF
the cause lie or they may ct ate ana Issue: from
time 10 lime under the said deed or 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 decd TO that effect bonds to
such an amount. not exceeding i'll the aggregate the
aggregate amount of the existing Indebtedness 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 ascertaincd 10 be due to and decrecd
In favor of the State of Virginia for arrears of taxes
and of such denominations and tenor as said pur-
chaser or his representatives 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
have been previously paid 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 requredro be given by the
purchaser 10 the several creditors OF the Virginia
Central Railroad Company for that part of the pur
chase-moncy for which credit is 10 be allowed.
The net revenues and earnings OF the property
accruing between The date Of sale and the convey
ancc OF possession to the purchaser purchasers,
his their representatives or assigns, that may
not he 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 tile purchaser or pur-
chascrs his or their representatives or assigns, and
in the first place towards the payment and discharge
of that part of the plirchaSe-money applicable to
the payment and satisfaction OF the past-due iu-
tercst The bonds OF the Virginia Central Railroad
mcnts Of interest that may become due ana payable
between the date Of sale and the transfer and con-
yeyance OF the property to the purchaser, in such
order as the Court may direct
n hp ng Lr