The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-01-23
AUCTION sALES-Fufnre Days.
:s by Davenport 6 Co,
3s stock Brokers and Auctonecrs,
Office 1104 Main street-F;rst National Bank
Binding. p

- by davenport 20 Coz, z esf
stock Brokers and Auctionecrs,
Office 1104 Main strees-First National Bank
Building.
COMMISSIONERS SALE AT AUCTION
or THE
CHESAPEAKE AND OHIO RAILROAD.
Pursuant 10 decree Of The Circuit Court Of the
March, 1877, and DEGREES subsequently entered by
said Court, in the suit OF Duncan and Calhoun.
Company and others, and TO a decree Of the Circuit
Court OF The county of kanawba- In the state or
West yrsa entered on the ISL, day Of Deem
tees, Us. The Chesapeake and Ohio Railroad Com
pany and others also therein depending the under:
signed, as special commissioner appointed by said
DEGREES, win sell at public auction, to the highest
bidder. az the rooms Of the Chamber Of Commerce,
the hour ~ the % Day & OF
CHESAPEAKE AND. OHIO RAILROAD CON-
point on The james river. below Richmond. in the
State of Virginia, 10 point on the Ohio river, In
Ins Sasf 81 RHTs and in
iasSEg Il al oer ss and
Ing. LANDS. BUiLD1NGs. MACHINERY, ROLL
ING STOCK, MATERIALS. aud other PROPER
whereof is contained in the inventory ana reports
made by the Receiver under the ORDER OF the Court,
which will be open for inspection d BY - H
city of Richmond, Va, for reasonable time
before the sale.lhat Is 10 say, all and sin
gage gage to eD the Board Of Public Works of Vir-
ginia executed by the Virginia Central Railroad
barring date on the ss DAY ,o od AP
chiscs embraced In said mortgage; all and singular
the premises, rights; privileges, and franchises In
w. Fry, William n. mcfarland, and James Lyons,
executed by sand Virginia Ceptral Railroad Conn
pany, bearing date on the I'd day OF june, 1894 al,
and singular the premises, rights privileges, and
franchises included and conveyed In and by the
trust-dced TO John B. Young and Robert z. Howl
Company bearing date on the 9th day of February.
1856; all and singular the premises, rights and
S fb nn to Pho C. c ali" William
| Butler Duncan, William Orlbn- and Mathew +.
Maury by the Chesapeake and Ohio Railroad Com
pany bearing date on the 1st day of October 1865
all and singular the premises, rights privileges, and
| franchises included and conveyed In ana by the
,r,,St-eed executed BY sad Chesaneake ana ONO
liam Butler Duncan, bearing date on the 18TH day
of january, 1870; and all and singular the prem,
iScs rights. privileges and franchises included and
conveyed in and by the trust. deed executed by said
| Chesapeake and Ohio Railroad Company To the said
Philo G. Calhoun ard William x; ktchen' bearing
| All which will be sold rs cni rcty free and dis
charged OF and from The liens and membranes OF
the said several mortgages and deeds OF trust, and of
and from each and 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 dcscrip
| ton in said DEGREES found anal rected except the
liens for taxes thcreiR 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, If
any Of the said certificates shall remain unpaid at
| the time OF sale.
| THE TERMS OF SALE WILL BE as FOLLOWS:
.1,,It Hpx Of
| within such short time thereafter not exceeding
ninety days the undersigned may designate on tue
r 5 q in cash but ans sums Which the
Receiver skall 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 tie
Virginia Central Railroad Company, or 10 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 OF OPP
Grating the road, shall be deductedfrom the amount
| so required to be paid in cash.
| For so much OF the purchase-money as shall be
equal to the balance of the interest due and accrued
Company ut the date of the trust-deed hereinafter
mentioned rs directed to be made for the security
thereof, and rs may be thon unpaid and unprovded
for thc amount whereof will be estimated as nearly
as possible and made known IT day OF sac), credit
is to lie allowed of three years from day of sale in
, equal annual nstalments, with interest thereon at
! tina rate Of SIX per cenum per alinllm. payable
semi-annualy.
For the further sum of four hundred and eighty
seven thousand i've hunrsd and Gi d0
the principal sum due under the trust.dced to Young
and Iowison, 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 additional
sum which may tc due on account OF any OF the
!" w SnT SsH Win be- %
as possible ana made knoTn on ve aa yo, OF
from date OF sale, with interest at the rate of eight
upon The sum Of $460,5O0. the part thereof which
OF the Virginia Central Railroad Company; ana
with interest upon the residue of SAID principal
sums III the rate OF SIX per cenlum per annuln pay
| able scm-lnnually.
| For the further sum Of one million eighteen thou
sand dollars Isl .000l representing the princi-
| pal outstanding under the truSt-lced 0r mortgage
| to Fry and Mcfarland and Lyons, and under the
mortgage to the Board of Public Works of Virginia,
credit is to be allowed from tic date of sale until
the lst day of July 1887 with Interest ut the rate
OF slX per centnm per amman, payable semi-an-
nually. 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 10 be secured by trust.
deed, executed to the satisfaction Of the Court, on
all and singular the, premises sold, constituting q
first lien thereon, to be executed and delivered to 4
trustee trustees to be appointed by the Court 81
| 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-
venicut obligations representing the several sums in
10 WHICH circuit $40 DC gwen rs
hall be created issued and delivered to the several
creditors entitled to receive the sne and In case
of any disagreements 10 the form and tenor there
of, the shall be settled and prescribed by the
courts, on application. TO enable the purchaser or
purchasers or his their representatives assigns,
If he they shall desire to 40 so, TO 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. he or they may create and issue, from
time time, under the said deed OF trust, and to be
secured by the lien thereof when and 10 the extent
that the same shall be endorsed with the certificate
of the trustee in said deed 10 that effect. bonds 10
such an amount. not exceeding In the aggregate the
aggregate amount OF The existing intcbte dnesS OF
the Virc mia Central Railroad Company, and the
amount OF such specific liens and expenses with in
tcrcs accrued and to accrc thereon and the amount
which has been ascerncd To he due TO and dccrccd
In favor Of the State OF Virginia for arrears OF taxes,
and Of such denominations and tenor said pur-
chaser his representatives or assigns may deter
mine.
The said bonds are to be endorsed by tile trustee
when requested, to the effect that they secured
by the lien thereof. to the extent and amount that
any part Of the said existing Indebtedness OF the
specific liens and expenses arrears OF taxes shall
have been previously paid 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 obligations required to be given by the
purchaser 10 the several creditors of the Virginia
Central Railroad Company for that part of the pur
chase-money for which credit Is to- he allowed.
The net revenues and earnings of The property
acc:uiEg between The date OF sale and the convey
ancc Of possession 10 the purchaser purchasers.
not be otherwse Of in I
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 Dur-
chascrS, his their representatives assigns. and
in the first place towards The payment aud discharge
of that part Of tn" purcha se-money applicable to
the payment aud satisfaction OF the pist-due in-
terrst on The bonds OF the VIRGINIA Central Railroad