The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1886-06-18


Alr-L1ne Hailroad.
No Asssnv EeAoss.
The snle AZ che Louisville, Evansville
and g. kouIo Railway (Air- Llne) took
placo today q lhe court honse ID this
city. The salo Wos under foreclosure Of
The 0rst m0stGoge on The road. There
were four mOregages On the rosd The
first mortgage boAss the date Of June Let,
1851. 10 % the Mercantile Trust Com
pany et al, and In favor Of the BOSTON
Syndicate that supplied the money %
complete and equiptbe road and y for
t8Oo0.O,0. The second mortgage nesr~
the same date and ID tn Robert 4. Wnus.
Trustee, Tor $4,000 90. The thiru
mortgage hears date March !. lf63, and
V 10 the Mercantile Trust Company 81
a.. aud u for $1,000 All three 81
these mortgages 10 upon the roao-bed.
real estate. chattles, 81 cetera 81 the COM
pany. The fourth mortgage beave date
Sept. 8. 1881. In favor Of the Railroad
Equipment COMPANY. and is upon the
cnsstlcs. and for $250.64 The Interest
on al these mortgages IL In default The
total IL these tour mortgage u ST.
25067E The interest 10 70 be added 70
The carnings Of the road did not meet
its operating expenses and necessary
betterments until the property went into
the hands or : receiver in December,
1854. Since Il has been managed BY
receiver Evans Il has met I'll its current
expenses and earned : considerable re-
serve found in addition. In the mean
time the road he'd has been placed 10
aida oRmRkS
added, depots and machine shops erected,
and other betterments made. The con-
pany has also promptly met ies contracts
with the citizens along the line and has
grown into universal popularity within
the circuit Of its pat-onixiug territory.
The purchasers Of the property. there
fpre,. receive IL in splendid condition
through iss excellent management BY IT.
present officers and with earnings that
will. q the late rates Of increase, soon
pay divijends.
Atap. m. Commissioner W. p. Fish
back, OF indianapolis and Commission
er Frank Jones. Of Illinois. opened the
sale or the road. There were present q
the sale William 7. Hart, chairman Of
the committee OF b0Ddholders, and Hen
" s. Heyd, attorney Of bondhoIders,
Boston; Messrs. Heilmsn and Nesbit
aud attorneys Iglcheart, Taylor & Gil
christ, Evansville; A. r. Humphrey, j.
NJ. Fetser, Of the bondholder's commit
tee. and George r. Evans. receiver, and
Lamme, attorney for the Trustees, In
dianapoIis.
The road was first offered for sale BY
Commissioner Fishback under the Sec
ond mortgage, which covered the main
line and al the branches, including the
Evansville branch. There was but one
hid. which was made by Mr.. VIM. T..
Hart. of Boston, chairman Of the CON-
miftee OF bondholders. His bid was
$40 900 and the road and its branches
were knocked down TO him, the $4,000
being paid cash In hand
The main line Wa then offered under
the fret mortgage and Was also bid IN
for the first mortgage bondholders BY
Mr.. Hart, Ct 0750Q00. This leaves the
entire road and al it, branches and
chatteIs and franchises in the hands Of
the first mortgage bondholders.
The management Of the road will no
doubt BE- continued In the present able
and successful hands that have given u
% much prosperity in the past eighteen
months.
William +. Hark OF Boston. known IN
that city - Lucky Bill Hart will be
the new President OF the Airline rail-
road. Messrs.. Nesbit and Heilman, Of
the Evansville and E. & 4. II. Il. r. In
serest, who attended the sale Of the Air.
Line Wednesday, went home out Of hu.
NOR and threatening TO bring suit 20 eel
aside the sale. The suit would, Of course
II brought. have to be brought in ths
Federal Court Ct Chicago. before Judg'
Gresham, and Il 10 not likely that Jude'
Gresham will Get aside bis decree Of sell
that be carefully considered for severa
weeks before is issuance. And SHOULD
the Evansville parties 60 to the Suprem'
Court Of the United States, the Air-LiD
would be worn out before the suit coul'
be brought to hearing.