The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1892-05-13

motion for provisional injunction against
| the defendants as prayed for in the bill; and
was argued by Mr.. William II. Calkins anil
| Mr.. john 2. Fay, counse ell for the csN,
panauts, and Mr.. Earl G. Bronaugh aud
Mr. Paul r. Deadly, counsel for the de-
fendantn, when the court took the same
! under advisement. And now at this day
the court being fully advised in the premisea
does order and decree that the co,aplainants
may, within ten days from the date hereof.
accept and sign the stipulation proposed to
them by the defendants, the same being in
the words and figures following, to-wit.
''In the Circuit Court of the State of Oregon
for the County of Benton.
The Farmers Loan and Trust Co
The Oregon Pacific Railroad Co., ct al.
Zephin Job, having purchased the prop.
erty exposed for sale, pursuant to the de.
cree of foreclosure in this case, for the sum
OF one million dollars Isl COO, ,OGO) of which
he has paid on account to the sheriff of Ben.
ton county, $4,000 and the complainant
herein having intimated desire to open
and set aside the said sale.
Now, therefore, it is agreed and stipulated
by and between the complainant herein and
the said Zephin Job that in consideration of
the complainant refraining from moving to
set aside the said sale. which it hereby stip-
ulates to do, and in further consideration of
the dismissal ON May 2, 1892, of the suit
now pending In the United States circuit
court for the district of Oregon between
Lindley Symth and Others and the said
Zephin Job and others. with the consent Of
the plaintiffs therein (which consent is sim,
''ltaneously herewith agreed in writing by
plaintiffs, to be given at said hearing on said
day. and the Withdrawal and termination Of
all litigation brought against the said Zephin
Job, for the purpose of preventing the com.
pletion OF said sale, he, the said Zephin Job.
stlpulates that thereupon, and if no other
litigation IS commenced, he will hold all the
property purchased by him at the said sale
anu convey 1t to new company to be
formed for that purpose, which shall issu.
the securities provided for by the reorgaui.
zatlon agreement, without any further mod
lhcat1on than that he shall be at liberty tn
hypothecate the said property 50 purchased
Tor such amount as may be necessary to pro-
vide the money to be required to complete
his purchase $1,000, ,OOO) and to pay all
claims existing against the property at the
time OF its conveyance to the new companv
including the expenses connected with tho
sale and reorganization, together with inter.
est thereon from the time the same is paid,
the said Job or said new company also to be
at liberty to hypothecate the said property
as security for each additional sum, as nav
in the opinion of a majority of the reorQani-
cation committee, with the concurrence Of
the directors of the new company, be advis.
able for the purpose of paying any amount
equitably due, forming lien on any prop
erty of the company, purchasing steamships
and other necessary equipment and extend
ing the railroad, this additional sum, how.
ever, not to exceed 81, OO0 900; and that the
said property shall be released from the lien
of any such hypothecation as soon as suf-
ficient sum for that purpose can be obtained
from the contemplated issue of bonds as pro-
vided for by the terms of the said reorgani.
zation agreement under the first mortgage
for $4,000. 900. with the following moditi-
cations. to-wit: After the words, ''if no
other litigation is commenced" insert the
following, "bY or on behalf of any bond.
holder or stockholder;" insert after the
words together with interest thereon from
the time the same is paid, the following,
''said sums for which such hypothecation il
made be payable on or before two years
from this date;" and in default thereof the
SAID motion will be denied and the bill dis
missed; and if the defendants do not also ac-
cept and sign said stipulation as modified
herein with the time aforesaid. defendants
will then be enjoined as prayed for in said
bill until otherwise ordered by this court,
and either party has leave after the expira-
tion of time aforesaid, to move the court
upon the footing of this decree for such re.
lief as he may be entitled,
Signed, DEADY, J.
r. III. LAMsoN, Clerk.
Endorsed and filed May 9, 1892.