Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-06-13
SETTLING THE TITLE.

Judge Brill Confirms tho Recent Sales of
the st. Paul s Pacific Rallroad-A Con-
greeation of Legal Talent and Wealth
Sheriff Thompson Demands q Pot of
$4,000.
Yesterday there was gathering of legal
luminaries and railroad magnates in Chambers
at tho district court. The assembly was to
take part in the confirmation of the recent
sales of parts of the st. Paul Il Pacific railroad
company's property. Judge Brill presided and
Messrs. G. B. Young, Bigelow, Flandrau Il
Clark, Il. B. Galusha, George
L. Otis; J.. M. Shaw, of Minneapolis,
Sheriff Thompson, of Minneapolis; Edmund
Rice; George A. Stephen; J. J. Hill; Donald
A. Smith, of Winnipeg; John 8. Kennedy, Of
ance. The matter came up for confirmation
of the sales under what is known as the
Sc, 000, 600 mortgage and the 81, 200, 600 mort
gage. The first sale took place in
Minneapolis, and embraced disposal
Of the main line the latter sale occurred in
this city last week, and comprised that portion
of the whole line known as the Watah Branch.
The particulars of these sales have been given
before, and there was no difficulty in confirm
ing them. All parties interested were repre-
scented, and the adjustment and money arising
therefrom were agreeable, so to speak: "
this latter, the money, there was $7,7OO,UUO
in court. OF this sum 5000, 600 was in cash. By
the court decree the purchase could be paid in
bonds or cash, and the large amount of bonds
were in the hands of the purchasers, offered
for the road, accepted by the court and given
in Clerk Kiefer's hands for cancellation.
Everything seemed agreeable enough until
the question of sheriffs fees came up. Sheriff
King was modest in his demands, realizing
only 800 for selling mortgages to the amount
of SO, 600, 900 and over. Not so with Sheriff
Thompson, of Hennepin county. He had
claim for $4,000. He bases the claim upon
the fact that in the sale of the six million dol
lar mortgage the trustees held 600 OF
bonds known as the Yelverton bonds, which
secured prior mortgage. These were held as
collateral and disposed of with the six million
dollar mortgage; Sheriff Thomson claims their
sale was that of personal property, and, under
the law, he is entitled to 2 per cent. fee on
the whole amount sold. In response to the
demand, the railroad sets up the averment
that, unlike personal property, these bonds
never came into the custody of the sheriff, but
merely were in his hands for the purposes of
the sale, and may be likened unto q real estate
for the railroad potentates, and Mr.. Shaw, of
Minneapolis, reasoned for Sheriff Thompson.
This feature of the case was taken under adj
visement by the court.
The action yesterday evidently settles the
long-starding difficulties Of the St. Paul d
Pacific Railroad, company, and merge it in
name and management under the st. Paul,
Minneapolis & Manitoba Railroad company.
To be sure the sale of last week is yet to be
confirmed, but that's mere matter Of form.
In addition, next Saturday, under decree of the
United States circuit court, the $15,OOO,OO
debenture matter, will be disposed of at
sheriff sale. With the confirmation of this
all the difficulties will disappear. and the rail
road will enter upon new era of prosperity.