The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-01-16
AUCTION sAEEs-- Fsltl1 re Dsa vs..
ny Davenport g Co.,
stock Brokers and Anctioneer
ONCE 1lo4 Main street. First National Bank
t.545s Building.
GoslMIssIoNER,ss SALE AT AUCTION
CHESAPEAKE AND OHIO RAILROAD.

CttESAPEAhE AMI o hio W. AsfN'1-
Pursuant TO a decree of The Circuit Court of the
city Of Richmond. Va. entered on INC 2oth day OF
sa's aSt7 and ths @ Of Duncan and Calhoun
trustees, rs. srhe Chesapeake and Ohio Railroad
Company and others ard 10 aecref OF III, luz 1T
west Virginia, entered on The 18th day of Deem
Der. ST. In the suit of Duncan and Calhoun tril
pany and oilers also therein depending, The UNDER
signed. as special commissioner appointed by said
DEGREES viii sell at public anclo 70 me nignesI
No. 1O4 Main street. In The city OF Richmond, ut
The hour of IL n: on the 2D DAY AZ Of ArRIL;
CHESAPEAKE AND OHIO RAILROAD COM
PANY extending and now In 3per1aion from ma
point on The James river: below Kichmond IN me
the state Of West vfrsinia, together with al its
FRANCHISES RIGHTS. and PRIvlLEGETs;I in
BRANCHES, BRIDGES, aud all other rights and
rs LANps DIILpISGs MA Sd d,SEI b R3kk-
whereof S contained in tile Inventory an NO
e D y f h ona r By
posing to bid at the Office of the Receiver in The
city Of Richmond, Va, for reasonable 1lne
gular the PREMISES embraced in the mort
gage 10 the Board Of Public Works OF vir,
ginla executed by the Virginia Central Earo .if
1856, including the rights, privileges, and fran
chises embraced in said mortgage: all ana sineuiar
the an6 tights nTd 5y aaf to H
w. Fry, William Il. SIacfarland and James Lyons,
executed by SAID Virginia Central Kailroad Conn., nj
i included and conveyed in and. by the
son, executed by said Virginia Central Railroad
Company, bearing date on the 9Th day of February,
1866; all and singular the premises, rights ana
privileges, and franchises included and conveyed III
and by the trust-deeI TO Phil0 c. Calhoun, William
Butler Duncan, William Orion, and Mathew L.
Maury by the Chesapeake and oli3 Eairoad G ee
al! and singular tie premises, rights privileges, anu
franchises included and conveyed In ami by o the
Railroad Company 10 Philo c. Calhoun and Will
liam Butler Duncan, hearing date on the 18TH day
of january, 1870; 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 l "a Company TO the saa
PM 3 o1 G. , Sah 80 a RH Of enber sT
All which will be sold as an entirety 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 descriP
liens for therein referred 10. If any sach liens
shall DC 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, II
any of the said certificates shall remain unpaid at
the time OF sale.
THE TERMS Or SALE WILL EE AS FOLLOWS:
The purchaser shall pay on the day of sale. or
within such Short dime thereafter not exceeding
ninety days rs the undersigned may designate on the
day OF sale, The sum OF TWO hundred thousann dol
lars tS2OO,OO0) in cash but any sums which the
Receiver shall In The Ine3ntimc have applied out of
any earnings of the road after the DAY OF sale TO the
interest due and accrued on the obligations Of tile
Virginia Central Railroad Company, or to such
the same
applied under the orders Of the Court and any sums
@hchat the expiration of The said ninety days he
may have in In I'D after paying the expenses Of op-
GRAZING the road shall be deducted from the amount
so required 20 be paid IN cash!
equal to tie balance OF the interest due and accrued
on the obligations of the Virginia Central Railroad
Company at tho dale OF the trust-dccd hereinafter
mentioned as directed TO be made Tor the security
thereof. and us may be than unpaid and unproviGe!
for Ghe amount whereof will he estimated as nearly
rs possible and made known AZ day OF sae), a credit
is to he allowed Of three years from day OF sale In
equal annual insamenls, with interest thereon 1t
the rate of six per ceutum per alrilum, payable
For tic further SUN of four hundred and eighty
thousand five hundred and sew nty-eight dol
the principal sum due der the rls-deed to Gotns:
and How1son and also the principal of the several
sums found and stalled to be due IN the eighth paT-
graph of said dccrees) and also for any additional
SUM which may he due on account OF any OF the
claims in said eighth, parasraph mentioned ilhc
ly rs possible and made known on dag of
sae). Il credit IS to DE allowed of five years
from date of SALE with interest at the rate of eight
npdf, The sum Of s4G0,5Oo, The part thereon which
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 at the rate Of six per centum per annum pay
able scmi-annually.
For Inc further sum OF one million eighteen thou
sand dollars rcpresen,ing the prlnci-
to Fry and Macfarand and Lyons, and unner the
mortgage to the Board OF Public Works of Virginia,
the fst DAY u 20 Of July interest 1t the rate
of SIX per centpm Per n1nam payable ee Hytr
credit MS above stated is to be allowed and The inter-
est thereon, and OF the bonds which may BE- issued
as hereinafter mentioned is 70 be secured By trust
deed, executed to the satisfaction Of the Court on
all and singular the premises sold, constituting
first lien thereon, to be executed and delivered to a
trustee trustees to be appointed by the Court 81
simultaneously 18th the delivery of the conveyance
of the premises to the purchaser.
The said trust deed shall by It's terms. maintain and
all e1sng e. OF n lien MA as
Central Railroad Company. Appropriate AMI con-
venicnt bgations representing The several sums In
shall be created issued, and delivered to the several
creditors entitled TO receive the >le and In case
Of any Disbursements rs to the form and tenor there
of. the same shall be settled and prescribed by the
courts, on application. To Qnabc tine purchaser or
purchasers, his their representatives assigns,
payment ofthe said several sums in respect OF which
credit IS to DC allowed Aforesaid, and to provide
tor the F EN- Of sums paid N repesd q inc
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 to the extent
that the same shall be endorsed with the ceri1calc
of the trustee 10 said deed 10 that effect, bonds to
such an amount. not exceeding IN the aggregate the
aggregate amount of the existing indeb. dneSs of
the Virginia Contra. Railroad Company, and The
amount OF such specific lieus and expenses, with in
tercs accrued and to accrac thereon and the amount
which has been ascertained 10 be due to and decrced
in favor of the State OF Virginia for arrears OF taxes
and of such denominations and tenor as said rur-
chaser his representatives OF assigns may deter
lhinc
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 or arrears of taxes shall
have been previously paiG off, or upon the receipt
BY him on f par @ w9
amountin the obligations required to be given by the
purchaser 10 the several creditors Ell the Virginia
Central Railroad Company for thatparI Of the pur-
chase-money for which credit Is TO I've allowed.
The net revenues and earnings Of !lie property
acerng between the e of sale and the
his or their representatives assigns, that may
not be otherwise disposed OF in pursuance Of
applied under direction of the Court by the
Receiver for the benefit of the purchaser or pur,,
in the first place towards The payment and discharge
of that part Of the purcEase-money applicable to
the payment and satisfaction of the past-due in-
tercSt The bonds OF the Virginia Central Railroad
Company, or towards the payment of any install
ments Of interest that may become due and payable
between the date OF sale and the transfer and con-
veyanee of the property to the purchaser, In such
order as the Court may direct.
For so much Of the purchase-moncy as may be
applicable 10 the payment of the past-due interest
OIL the bonds secured by the mortgages or trust
deeds executed by the Chesapeake and Ohio Railroad
Company 10 Duncan and Calhoun. and Calhoun and
Kitchen, respectively, in the ratio and proportion
by said Gecrets established credit Is to be allowed
Of twelve years from date Of sale; but the under
signed viii receive from The purchaser or pur-