The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-02-10

| to pay in cash the sum OF Sl0O, 900. and n
the sale is confirmed by the court, the bal.
ance OF the purchase money must be paid
within thirty days; but the purchaser Shall
have The right to anticipate the day Of pay-
ment. Afier the payment by the purchaser
OF such sum in cash as may be sufficient TO
pay The costs. charges, and expenses OF the
compananis' trust and OF this cause. and
the indebtedness OF the receivers. and for
tie payment Of the pro rata dividend out
OF the net proceeds OF sale for distribution
that may be due to other benefcaries I'M
der the said trust deed, the mister may re-
ceive from the purchaser in part payment
OF tile purchase-money such interest cou-
pons as may have become due and payable
oi The bonds secured by the SAID deed OF
trust to the complainants, at such rate per
centrm OF the par value thereof as the pur.
chaser W0uld otherwise be entitled 10 he
paid in cash in respect thereof out OF the
net proceeds OF the sale on distribution
thereof among the holders Of such coupons.
and the percentage so applied in >atisfac-
ton OF the purchase. money shall be treated
as a payment OF such coupons to the extent
OF such application"
HOW TIE PROCEEDS or SALE SHALL BE Dis
TRIBUTED.
"The court further orders and DEGREES
that the proceeds OF sale be distributed as
follows: that is 10 say
"To the payment OF the costs and cX-
penScs Of this c3uSo. and Of the execution
Of the trust on the part OF the )mplainmts.
and all such fees TO counsel a, NAV here.
after be allowed and directed TO be paid,
and Of all the Indebtedness OF the receivers.
"To the p iyment Of the interest coupons.
under The mortgage 10 the complainlnts.
that have become due and payable, and that
may become due and payable before the day
Of sale, and that in computing the sum due
IN respect OF such coupons, interest may he
computed thereon. and in else the proceeds
OF safe shall be insufficient to pay such cou-
p0nS m fuil, the Slmc must be paid pro rata
ana without preference. such interest
coupons must be presented 20 the master
for payment, who will hc authorized 70 pay
the same. in whole or IN part. - the ca>e
may lie, when the amount of the proceeds
OF sale appliClhIe 10 such Iaymeut shall
have been aScertained. ANY surplus that
may remain, after the payment q such
interest coupon, - aforesaid, will remain
subject to the further order Of the court,
ana all questions touching such surplus,
and The distribution thereof. are reserved.
"The court further orders and DEGREES
thar all equities among TIE paltie- 10 tins
>uit. AL questions Of costs, cXpen,cs, and
allowances. and ice. Of Coun>els, aud all
other questions not disposed Of, or specially
reserved In the foregoing decree, but
property arising under the same, or rs
proper subjects for further directions, are
rc>CTVcd.'
WHO WILL Buy?
The inquiries last night "Who will buy
thc road tomorrow Z" were many. II j.
known that several representative, oi lead
ing railroads VIII be present at the sale.
AmOng those We have heard spoken Il lN
bidders. and who are now here, aic Mr.. +.
J. kmball. president Of the Shenan lolh
Valley Construction Company, and W. l..
BOyce. it, Yice-prc>ident, who viii not
only bid on the road but VIII make dos-
perate attempt to purchase. II i said that
if this company become the pur-
cha,er> Of The road 1t will be o6e-
rated in tn Interests >pCclted in lis
charler, ana not in the interest Of Philadcl-
phil, as ha. been chlrgcd. The purchase =
the road will give this company $50 miles Of
rail. all Wing in Virginia, except 81 miles
in West Virginia and Maryland, lying be-
tween IIaecl>toWn and Berryyilc, in Clarke
county. This syndicate has in eighteen
months constructed line OF railroad from
IIagcrstOwn, Md. TO Waync>bor0', on the
Chesapeake and Ohio railway, which VIII
be extended next summer rs far as Big
Lick or Salem. on the Atlantic, Mississippi
ana OHIO, and TO Lexington. in Rockbridgc
county, forming connection with the Rich
mOnd and Allegheny railroad.
1t is under stood that Mr.. John Collin>Or.
of the British bondhoGcr-. ana Mr..
Dough-, Gallon. who is the arhitcr between
the German and British bondbOlderS, will
be represented at the ,ale by Mr.. Edward
King. president OF the Union Trust Com
pany, and who will bid -, 100000, the
amount required to cover the bonded in
deblednesS ana paSt-due interest.
General ThomaS Ewing and Mr.. G. :.
BriCc. representing New York capitalists,
arrived here last night, and are reported to
be ready TO bid Sl0,000,000 over and above
the divisional bonds.
Mr.. ". T. Walters also arrived here last
night. 1t is stated that he reprC>c Mr.
Garrett, Of the Baltimore aud Ohio railroad,
and thai he comes TO bid on the property
Although there j. no representative here,
il Is known that Mr.. l.. +. Wilson. presl-
dent Of the East Tennessee, Virginia and
Georgia road, and Mr. Cole. who controls a
combination of roads in !he WeS' and South
west connecting with the East Tennessee,
Virginia and Georgia. VIII be- represented at
the sale and prepared to bid. II il said that
Mr. Wilson j. also connected with other
railroad SynGicaft> who wish TO obtain pos
session OF the road.
II Is also rumOrcd that Mr.. Green, who
controls the combination known ~ the
Louisville and Nashville system OF roads.
viii be present in person or by proxy. II
+, also understood that the syndicate known
Is the Clyde rcdcmpiiOniSl> will make 10
attempt to purchase. II is reported. how
ever, that the Richmond aud DInyllIe and
Richmond and Alleglauy raitJad> viii also
be prepared 10 bid.
General Butler .c;i the city yesterday on
the noTthWard bound afternoon train.
TIE STATE INTEREST.
We were Informed last night that The pur-
chase of The states lien Of c4O0O,OOO fpr
$500, 600 WI, entirely conditional. and based
lDon the redemption or purchase 81 lhe
roqd by the syndicate. A. they VIII not
redeem or buy, their agreement will amount