, 1881-11-13
EAST CHICAGO.

Clearing Off the Only yEncnn1brance or
the propcrty-EuildIu. slac Crack.
Dir. 4. B. Mason and Mr. Gulliyer, the latter
Of the firm Of Green & Alexander. the New York
bankers Of the East Chicago syndicate, returneG
from Indianapolis yesterday morning, and the
Iast-natncd gentleman will probably leave for
New York this afternoon. The object of the
trip to Indianapolis WAS 10 pay Off mort
gage on tho ;.,,tt, Forsyth tr'et @ q M s9mewherc
improvetuunt Coupany:s new acquisition.
The inort@sgc in quasnon is the cid one given
by the Forsyths to the Continental Life lEsllr-
a',ce Company OF Hartford. Tie much- tangled
history ut tEnt same piece Of paper has been set
forth III these columns Oil prevmus occasions,
and is sufficiently we'll known without any re-
ctptuFntfon. III the las: s1uges OF ts1ut history
Il bill had been tiled to fnrcclose the mortgage
and the Improvement Company wns naturally
anx1uus to pay it OFT and csf1 it quits. The bill
was dismissed On the -Gth OF Uc1uutr, tha mor1-
gaKees, vi course preterru9 settle for really
money than to curry ou uny further litigation
On arriving at Indianapolis the party fuunt that
it was rather difficult thing to ger ut tie people
to whon the mortgage. beonged, there
being three or four claimants, although
It WIS their belief that it, beonged to tic Conti-
nen.nl Life Mrs Forsyth, wno WIS with the
party. filed i bill in che United States Court ut
indianapolis To redeem the mortgage, and
PAID INTO CoCEr Sl:j,000, r.
advanced to her by the Land Company. The
latter then puid down S.l.sNj more, making
S:i0,U00 in ail, ano tiled prlitou asking tne
court, now THU sherc wus i great deal ,nore III
its hunds than the entire amount OF the Claims,
to nalc Il decree releasing the mortgage end
letting the FOrsyihS uud the MorEagrcs tight
over how much ought to be paid to each The
decree will be obtained in thirty duys. and $:lJ,
Oo0 is now deposited with the court,
under stipulation that it Is to be APP
piled to the payment Of tho mortgage IN
the 1nuaner Indicated. III short. the Improve
ment Company has laid out x3lU.oU0 tn reuiuve
the only possible cloud 10 its title, and !eiI Mrs
Forsyth uni the u!urtXa.ccs TO establish by Il
legal tight their Individual rights uud interests
in the division OF the money.
The party is said TO have been gooa deal
amused ut reading statement in one Ut the pa
pecs that, among the other f!g schemes In y'rn,
was one which wns nothing mure nuF less than
the organization uf Il coal company ut East Chi
deposits on tue Forsyth 1rnct. Nobody has yet
started the ruu,or that Fursyihs luuL contains
diamond mine Or TWO. but the story will doubt
less be rce}ed off by some enthusiastic '' boom-
cr" before lung
TIE l:l;rui:SlNG MEMBERS OF THE r.a1,YY
hAd very little to communicate outside OF the
explanation OF their erranu. as above given.
They confirmed one Or two points, however,
which nre worth referring 10. The construc ton
contracts Tor the BELT Line have been si:.nel
lug the road Will be pushed rs RAPIDLY. us posi-
BILE. Whether the .l.and Company wilt improve
this fall and winter or not will depend largely
upon the report Of the engineer. Should ht re-
with profit during tho cold weather, Il
good deal of heaslway will doubtless be made
before surinE. Tue ct,inpa:1y Is naturally desr-
GUS of doing all it can as rapidly rs it cail. Tor
the good renso1l, among others, that the interest
Oh its bonds runs day hrd night and :ts set il
has nothing ~ show for its oulinys except sJu
acres of very promising. but as vet unprod,lci-
We. real estAtc- 1t is thought that II good deui
he way OF pnttinE The land, laying oil the
streets, docks, ETC., in and around the city