The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-06
PE'rTIS, BASSETT & CO..
THE T., c. & st. L. SALE CONFIRMED.
The Quigley Syndicate the Purchasers-Pro
visions and Conditions Of the Sale.

The sale Of the Toledo, Cincinnati & st. Louis
road was confirmed by Judge Gresham yester-
day. 1t is understood that what is known as the
Quigley syndicate are the purchasers, this syn
dictate representing the first mortgage bondhold-
ers The names of the real purchasers will be
made known through the organization of the
company to which the court will turn
the road over after adjudication of the claims.
The purchasing party made a strong fight to Sc
cure extension of time for the payment Of the
claims the court allows, bat Judge Gresham gave
them to understand that the provisions of the
decree of foreclosure sale would be carried out
TO the letter. Under the provisions of the decree.
within twenty days from and after the confrma-
ton of tho sale the purchasers shall pay of the
unpaid purchase money sum sufficient togeth-
er with the deposit of $50.000 to pay and dis
charge the court costs, masters fees solicitors
and counsel fees, and the claims and debts in
GLIDING taxes legally due on the property which
shall be finally adjudged to be due and payable
as court and receivers Indebtedness and
to be paramount in equity to the
liens Of said indentures of trust de-
creed to be foreclosed in said suits
excepting such final DEGREES for the payment of
money out of said fund as may have been super
seeded by and rpon proper appeal and upon such
payment by such purchaser or purchasers, he or
they shall be let into the possession use and en-
ject to the conditions and stipulations following
Upon confirmation of sale, and upon payment
within twenty days thereafter of such part of
che purchase money may be required to COM
ply with the provisions and directions of the
DEGREES and order of sale, the masters will make
execute and deliver to the purchaser or pur-
chasers deed, conveying to him or them, all
and singular, the railroad property SO
sold, with its appurtenances which
deed will contain an express stipulation
reserving to the court full power,
npon default of the purchaser or purchasers in
ments Of said decree of foreclosure and sale re-
Epecting payment of the purchase money. to re-
take, through Its receiver, possession of all or
any part OF the mortgaged premises SO sold. and
forthwith sell the same. or any part thereof upon
its order to that effect made aud entered Said
deed VIII also contain stipulation that the pur-
chaser or purchasers. or his their assigns shall
forthwith yield possession of said morteaced
premises in compliance with such order of court
20 be made upon default in the payment of mr.
chase money. The residue of the purchase
money not required to make the payments here
inbefore required to be made prior to the deliy-
cry of possession shall be paid by the pur-
chaser or purchasers from time to time as para
mount claims against the fund may be finally as
eertained by decree of the court such payments to
be made upon twenty days notice by the master,
pursuant to the order Of court to that effect en-
tered requiring such payment. until the entire
purchase money shall have been paid. While
the claims presented by VIM. p. Fishback,
master in chancery, amounted to only $500 900,
81 is believed the will yet reach 81. $50 0OO
the claims presented yesterday adding some
$3.50 600 to the frst-named sum-. One of the
most important rulings of Judge Gresham yes
ferday was in extending the time for fling
CLAIMS. It Is thought that the claims presented
thus far win be adjudcated to day.
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