The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-11-05
RECEIVERS SALE
Property and Franchises
or THE
SaVannah& Tybee Railway Company.
LaROChe & Mclaughlin,
AUCTIONEERS.

Under and by virtue Of a decree rendered in
ana by the superior court of Chatham county,
Georgia, on the 9th day of August, 1899, in
the cause of THE OGLETHORPE SAVINGS
AND TRUST COMPANY, Trustee, versus
SAVANNAH AND TYBEE RAILWAY COM
PANY, which, with varioas interyentions
therein. were heard together, the undersigned,
as receiver of said railway company, as
directed by said decree, will proceed to sell,
on the FIRST TUESDAY IN DECEMBER,
eighteen hundred and eighty-nine QS59l, at
public auction, and to the highest and best
bidder, within the legal hours OF sale, In front
OF the Court House, in the city of Savannah,
Georgia, the following property,to wit:
All and singular. the corporate property OF
the SAID Savannah and Tybee Railway Com
pany, real and personal, and including all of It's
railway, in the county of Chatham. state of
Georgia, extending from its depot, in the city of
savannah, TO and upon the island of Great
lybee, IN said county, and all of its lands,
rights of way. road bed, tracks, bridges depots
buildings, water tanks wharves, yards, and all
other structures, erections and fixtures, of
every sort, appurtenant TO said railway, or any
portion thereof; and all its personality Of every
description, together with all and singular the
tenements, hereditaments and ,appurtenances
tnereunto belonging, or in any wise appertain-
ingi and, also, all the corporate and other
franchises, rights, privileges, liberties. and i'm
munltles or every sort, owned, possessed or
enjoyed by said railway company.
NO bid of less than one hundred thousand
l$lOO,OOO dollars will be received or considered.
The purchaser will be required to pay to the
said undersigned receiver, in cash, at the time
and place Of sale, and before an adjudication is
made to such bidder, a sum Of money equiya-
lent to fifteen Q5( per centum of Che bid made,
ana, IL the sale is confirmed by the court the
balance or purchase money must be paid within
twenty (20) days after such confirmation, but
the purchaser shall have the right to anticipate
the date of payment.
After the payment, by the purchaser, OF ouch
sum, In cash, as may be sufficient to pay the
costs, charges and expenses of the trust of said
petitioner, and of this cause, including cost of
all interventions and all the indebtedness OF
the receiver, and taxes for the year eighteen
hundred and eighty nine QeS9, state, county
and municipal, which may be then due, all
counsel fees as may be allowed all receivers
certificates as may DO then due, and the amount
or the Judgments and interyentions. principal
interest and costs Of Louis McLain, Ross &
Sanford, and George Harand, for the use Of
etc, the receiver, may receive from the pur-
chaser, IN part payment of purchase-Inoney,
the bonds of said railway company, dated.
september LIST. 1886, secured by the said trust
deed or mortgage, with interest thereon from
October 9th, 1888, at six (6) per centum per
annum. and the coupons upon the same, due
March list, 1883, and September list. 1888, with
interest thereon at six 90 per centum per an
mum, and the other coupons, covered by the in
terventlous in said cause for the respective
sums named therein, principal and interest, at
six (6) per centum at such rate, per centum, on
the par value thereof (bonds and coupons) as
the purchaser would otherwise be entitled to DO
paid, in cash, in respect thereof. out Of the net
proceeds OF said sale, on distribution thereof,
among the holders Of said bonds and coupons,
according to the terms Of said decree.
No title will vest in the purchaser nor shall
conveyance be made to him, until after a full
compliance with the terms of sale
This sale by the receiver will be Of the afore-
said property and franchises of said railway
company, disencumbered Of all liens, held or
controlled by any Of the parties to said litiga-
ton against said railway company, or against
the receiver, and Of all liens for costs, expenses
or allowances made, or to be made, by the court
In said cause, and of all claims whatsoever
against said railway company or said receiver,
all of which liens and claims will attach TO tho
proceeds of said sale.
The purchaser will take said property subject
to all contracts or covenants which may have
been made by said railway company, or th Q
receiver under direction of the court, with any
persons, In relation to its rights OF way; and
the purchaser will occupy the same position as
said railway company, or receiver, in relation
20 such contracts and covenants.
The receiver has certified copy OF said de-
rec which may be seen, at lis Office, In Savan-
lah, Georgia.