The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-05-03
THE TRUNK SOLD.
The Texas Trunk Railroad Sold Under
the Hammer Yesterday.
1t Was Bought in by Representatives
of the BOndhOlders.
The Price Paid-Future Of the En-
terprise.
Other Local Notes and Comments

Under a decree of the United otates ci
cult court for this district, January olst'
1888, in the case of the International trust
company VS.. Texas Trunk kailroau
company, the Texas Trunk road
was yesterday sold by the com:
missioner, A. S. Lathrop, appointed
nv that court. The following is the descrip-
ton of the property sold and the terms and
ambitions of its sale; the commissioners
having duly advertised it to be sold at the
court.bouse in Dallas, on the first day Of
May, 1888:
The railroad of the Texas Trunk Railroad
company from its terminus in or near the
c,tv of Dallas, and state of Texas, extend
ing enthusiastically through the counties
of Dallas, kaufman, Henderson, Anderson
Cherokee, Angelina, Tyler, Harding and
Jefferson, to the gulf coast, at or near
Sabine Pass, together with branch fr ON
some point on the main line 10 anu CnIousn
the counties of Jasper and Newton, TO the
boundary line between the states Of IeXas
and Louisiana, in all distance of $50 miles
1emhracing thirty-four miles of completed
railrosd) Including the right of way, road
bed, super-structure, IRON, ties, spices,
chains, bolts spikes and tools, all land ana
depot grounds, station-houses and depots,
vladuct bridges, timber ana materiais, anu
ali property purchased for the construction
and equipment of said railroad, two loco
motives, five flat-cars, one box-car, three
hand-cars. two iron-cars, and all the iran
cbises and rights of the said Texas Trunk
Railroad company in the state OF Iexas,
used for and appertaining to the oPeratlo1
of said railroad. Also all the rlgnt, Julie auu
nj r0mnanV
has in and to certain portion OF lands
granted to said railroad company by the
laws of Texas, to-wit: Fourteen sections
ont of every sixteen sections per mile LOT
each and every mile of constructed railroad;
The said land grant, and the personal
property, locomotives, rolling STOCK anu
machinery appertaining thereto, VIII De
sold, each separately, aud the remainder,
the road bed, right OF way, superstructure
and all other things appurtensnt lhereto'
including the franchises, will be sold TO-
petber. The land grant will be sold for
Cash and is to be paid for in money.
Upon the sale of the other property, the
purchaser or purchasers may pay in bonds
of said railroad company, negouateu Gnu an u
sold in the market and held by bona noe
nurchasers, to the amounts to which SAID
bonds would be entitled out OF the pro-
ceeds of such sale, and in bonds which are
held az collaterals for the amount to when
the holder would be entitled on the DEBT
for which such bonds are collateral, ana
the remainder, il any in money. upon
said property being struck of to any plu,
der. The purchaser of the rolling stock Will
be required Immediately to pay the sum OF
two thousand dollars in money and deposi
with the special master ten oil SAID nrst
mortgage railroad bonds or shall pay the
whole amount of the bid in cash, ana the
purchaser or purchasers OF said rail-
railroad, road-bed, FRANCHISES, eto.'
will be required to pay twenty-three thou'
sand dollars in cash and deposit with the
special master one hundred thousand dol
lars of said first mortgage railroad bonus
as assurance of the tulfillment OF the pur-
chase, and on failure of a purchaser or pur-
chasers to comply with such provision, snch
property will be put up for we ana re-
sold on the same day and inmeula1ely
thereafter. 80 ,,,..,,,
between ~ and ] o'clock p. m. large
crowd ofour strongest business men ana cap
italists with others from Boston New York
and Chicago, assembled at the eastern door
of the court house, when commissioner
Lathrop appeared and put the oali IN i. EloI
ton, He first offered the railroad itseli
with depots, switches, eie., anu .ise. :
silence OF a few seconds Captain 5. j. Adams,
- o. afias, on behalf Of the purchasing
trustees or Sondholders called out the neat
sum of Si52 600 as his bid. IL required pul
a very short time TO demonstrate that the
"three times-going; goingi gone, must
soon be sung out. IL was olu on 70 Oap. ,snn
are Messrs. Sortwell, Stepath, Chew,
Adams and Diokinson-all except captain
Adams from New York ard Boston. Before
bidding began, however, the commissioner
read a notice from Captain W. ID. Gaston,
by Sawnie Robertson, esq, his attorney, 20
the effect that all persons interested, We're
notified that the right OF wav OF the IeXas
Trunk railroad company, from its terminus
at Dallas for q mile out, had never been
condemned or otherwise acquired by the
company; that that part OF the line oil road
had been made on land belonging 10 hip,
and that be insisted against all persSns
whomsoever and upon all his legal rlgnts
crossing out Of the facts stated: 80
Following this was notlce anu
protest from the Sabine Northwest
arm railway company. throuen
its president. Mr.. J. A. Bennett, by J. -.
Simpson. attorney. He gave formal notice
that the road Of which he was president,
claimed and owned the entire line OF the
projected route from the terminal POINT o.
The constructed road Of the Texas Trunk
Railway company in kaufman county: and
thence enthusiastically 10 Sabine les.
that his company gave formal notlce tnhl
IN full conformity with the laws 81 IeAes
II had caused q survey OF said line rom ID
terminal line 10 be made, and that the nelo
notes of said survey were Of record IN kaui'
man and that said surveyed line a. vi
time IL now occupied beio an a.,
owned BY said Sabine & Northwestern ran
IL goes on 10 protest against the sale o.
ali that part ofthe Texas Trunk railroad
line now occupied by his company on the
grouDd that the extension OF the Iexas
Trunk i. under our statutes, absoiuteiy ior.
i hs ;nc,nssle Of resuming tbs
ZANE NJ givxs further notice that the an
tborities Of the State Of Texas BY proceed
% Of ouo warrsnto are proceeding IN tne
st6 judicial district court Of Ierss 20 pave
iudsment entered declaring . forfeiture Q
the franchise and charter Of the AeAA'
Trunk road. .,.s.....,
EosvithstandIngt these notices sna pl -.
tbe sale proceeded and resulted as eoOt'
-.,sS f1,s nert feature OF interest VA
fbe s.ie NJ the land franchises, where specu
istivs minds might see much 20 be maae DJ
a small venture. The comm sslonef, 9pol
b-inP questioned. replied tbat be nsa %
certificates 70 turn over. ana dio Dgt Any-
how ruauv there were l0cafeo- ~ olll
IA rIr,drr the orders Of the court Enet ID
$50 80 in r,orsession Or b. night Of pos
pe-eioD. The cbarter gives ne rosa ID.
rieht 20 fourteen stcuons
GO arr-s each n We NJ
O1lv fbirf-- nilrs arr Jrdiue-y -
rsrded e. e mpasted, sItnouEn. % 80 80
f.re really s-e b-r~fen fnir' I've -
nj tn n Is a. 10 rsrE- lns ~
80 80 , eieiru - 3CsGfD &c - Of lsnd
49, a. I'D 10 be % cerlihc tss u c 20
Ce-sefn lrarns made The f-st 40 an =
-. 81 0rI1 lffr~ n F.rIe ceIay M. W y