The Daily times. [volume] (Richmond, Va.) 1886-1889, 1889-05-11
BIG DEED RECORDED.
IT Seals the sale Of the Richmond ana
Allegheny Railroad Property.

n
Allegheny Railroad Property.
4 deed was recorded yesterday at
Uenrico county courthouse between
Irwin Davis Charles f. Cox and }.
Kennedy Tod a purchasing committee
of the bOndhOldcrs Of the Richmond ana
Alleghanv Railroad, who hereby con
tract not on their own behalf rs indl-
yiduals. but only as such purchasing
committee and on behalf Of IN Klch-
mond and Allegheny Railroad Company
a corporation TO be Organized under the
laws of the State OF Virginia, by them
selves ~ the purchasers of the said rail
road of the first part, the said party oil
the first part being styled the Com
mittee." and the Central Trust Company
OF New York, hereinafter called The
Trustee of the other part
Whereas in the agreement for the re-
organization Of the Richmond and Ale
phany Railroad Company, under which
Erwin Baker. George +. Baker smith
cliff. James T Closson, Charles +. Cox,
Francis o. French, Charles NJ. Fry, John
I. McCook and j. Kennedy Tod, we
appointed or became. a committee for
tie reorganization of the said railroad, It
was provided, inter altf, as follows.
The deed here recites the authority of
the committee 10 purchase the ROAD al
foreclosure at price not exceeding the
amount due upon the first and second
mortgage bonds and expenses OF puf-
chasing. he right to hypothecate securi-
ties deposited heTeinunder and IN the
name of the new company TO mortgage
the property purchased subject 10 rain
cation by the new company when formed,
also the necessity TO provide by mort
gage a sum not exceeding $3.50 OOOtO pay
of liens and claims, which by the turn
of the decree are made charge upon
the property sold. which it is necessary
10 pay of before the committee may Ob.
tain possession Of the property so pur-
chased, or subject to which such posses
sions may be acquired.
The deed further recites that the COM
mitiee, for the purpose OF raising the
said sum Of $4,000, have determined To
issue notes of said purchasing commit
tee dated MAY ], 1889, payable on June
l. 1890. or al any time thereafter, al the
option of either makers or holders upon
thirty days notice having been given,
the notes 10 bear interest not exceeding
six per cent per annum from June !,
1889, payable quarterly on the first days
Of September, December, March, and
June. and to be in The sum Of $1,000 or
muuples thereof; and to secure said
notes by a mortgage Of the railroad and
other property purchased by the com
mittee at sale held in the city of Rich
mond on April IS, 1889, l. h. r. Leland,
special commissioner Of the Circuit Court
Of the city of Richmond.
The form of the notes are recited, and
are required TO have this endorsement ::
THE issue of this note is made with the
consent and approval Of the Chesapeake
and Ohio Railway Company
"- -, President
The deed then provides for the substi-
tuition of notes of the Richmond and Al
leghany Railway Company. when newly
organized, for the notes Of the committee,
which notes shall also bear the endorse
ment. "The issue Of this note is made
with the consent and approval of the
Chesapeake and Ohio Railway Company.
"-- --, President
The property morigaged consists of
the railroad formerly of the Richmond
and Allegheny Railroad Company. in
Guiding the present line, oil extensions
and branches in Virginia or West Viz
ginia, constructed or proposed. with all
the appurtenances, railway stock, build
ings of every description; also all the
property. works and franchises acquired
hy the party of the first part from the
James River and Kanawha Company,
including lands, canals, locks DC, and
all interest in tuTnpikes, ferry boats, &c,
water power privileges &c, and all
other properly, real, personal or mixed
The committee covenants that they
will proceed To organize the Richmond
and Allegheny Railway Company as
soon os possible after the conveyance of
the property TO the committee. and that
upon the organization of said railway
company the committee will make all
necessary conveyances which shall be
appropriate to vest the title to the prop
erty in the Richmond and Allegheny
Railway Company, and the railway
company shall thereupon Tatify This
mortgage and assume all the obligations
thereof
This deed was first recorded at Hen
rico county courthouse when the TAX.
$3.50, was paid Duplicates were or will
be recorded in every county or city in
which the company owns property