The times. [volume] (Richmond, Va.) 1890-1903, 1894-06-16
SOUTHERN RAILWAY co.
THE RICHMOND e. DdyTILLE RAIL
ROAD SOLD Al AUCTION,
ana New Name Adopted by the Pur.
cha'ers-Entire System Sold for Two
million and Thirty Thousand.

Ihe last act in the drama ~ the re-
organization Of the Rlchncnd ana nan
''e raiToad system took place yesterday
a. !" O'CLOCK. when the sale Of that road
was made at public auction in this city.
A"e SALE which vas perl APPS the lar
scst ever made In this city. was conduct
Gu by Boswell & Hartman, Mr.. Boswell
being the auctioreer.
led flag hanging out at the passenger
uepot at the hour named. Mr.. Boswell on
CT ar and comparatively small crowd
around him. were the only Indications
,hat the great transaction, involving mil
mus yrl was In progress.
W ne interested visitors present were f.
luldekoper. receiver, G. II. Cos-r.
OF Dlexel, Morgan & Co., chairman OF the
REORGANIZATION committee; Henry Craw
sun sun n. l.. Bond, Jr., counsel for the re-
GeNers, Frank l.. StetsOn, counsel for
DIeXel. Morgan & Co.; 4. j. Thomas, OF
the purchasing committee; f.. J. Joline,
counsel for the Central Trust Company:
q. ~. andrews and J. T. Morehead. of
North Carolina; Charles Price, OF North
Carolina, special master.
RICHMOND PEoPir.
A number Of prominent Richmond citi-
zens were also looking on, including Col.
4; S. Buford, former president OF the
richmond and Danv1lle; Major Fred.
Petersburg road and Mr.. b. Is. Mum
FORD, counsel for the Richmond and Dan
VILE, and others.
The auctioneers took some time to read
the decree Of the court and the provis-
ions of the sale. but the sale was over
IN very few minutes afterwards
The property was first offered in two
parcels and then as a whole. The first
parcel included the lands and real proper
ty Of the Richmond and Danville Kali
road Company. situated In the District
OF Columbia, including all Office buildings.
depots. stations, and freight houses built
upon the same, and all tracks laid upon
SAID land or any portion thereof. being
the property described in the decree.
4 single bid Of $4,000 was made for
this parcel, coming from Mr. Stetson. Of
the -feorganizaticn Committee.
THE SECOND PARCEL.
The second parcel was then put up. com
prising the following property:
All and singular the entire railway of
the Richmond and DanTlle Railroad
Company, extending from and inc uIing
the depot lot in the city Of Richmond to
the town Of Danville. I'm the state of
Virginia, and all It's lateral road or
branches, with all the lands attached
and belonging to said railway and
branches and used in connection there
with, including all depot lots, depots.
WnarVeS, docks, warehouses, mac hine
shops. bridges and all other structures
and their appurtenances, together with
all the company's engines. cars bling
stock, equipment. machinery implements,
and materials, whether the said cars.
engines, and rolling stock are now used
upon the Richmond and Danville rail
road. or any Of its leased lines, or any
Of It's connecting lines, and all other
property. works, and effects Of the said
Richmond and Danyllle Railroad Com
pany appertaining 10 or used In ccnDec-
ton with the said railway and branches,
or In operating the same. wherever The
same may be situated, or I'm whatever
manner the same may BE- held. except
the branch road extending from the
main line Of the Richmond and Dan
Vile railroad in the city Of Manchester
TO a point on the James river opposite
to that part Of the city Of Richmond
called Rockets. and except the real
estate, wharves. warehouses. and termi-
nal facilities owned by the Richmond
and panvlle Railroad Company on or
near the James river opposite TO Rock
etts.
AS A WHOLLY.
Mr.. Coster chairman Of the reorga1l-
cation, bid $2C0O0OO for this great
property. No other bid being received
ar. Boswell proceeded to offer the en-
tire property as a whole.
As before. only one bid was received. II
being 100000. just $500 more than the
price Dhcitu WNtU put up StlLINlctN. |
After holding the prop rty a few minutes
ii was knocked out to "iir. Charles II.
Coster and Mr.. Anthony J. Thomas. of
the Purchasing Committee appointed by |
the Committee on Plan Of ReOrganiza- |
ton"
Mr.. A. J. Thomas. at once deposited |
100000 Of Richmond and Danyille per |
cent bonds, which he had ready for |
the purpose, to the master as an earnest |
Of the sale
THE NEW NAME.
The papers necessary in the sale and |
transfer were Immediately prepared in |
the masters office.
At o'clock Judge Golf, Of the United |
States Circuit Court OF Appeals. took
the papers in hand. and at $3.50 Il was |
that the sale lad been con-
irmed
This cODsummates a long pending and
'arefully considered plan of re-organiza-
ion, and IL is said that the ReOrganiZa-
ion Committee holds all the bonds of
he road except fourteen
The consolidated lines will be re-
named and called the Southern Railway |
company" The new officers TO be elect
"a are not known. but 1t is reported
hat Mr. Samuel Spencer will be the
nan selected for president.
The reorganization meeting will take
,lace in this city Monday.
II Is said that there VIII be no inn
,ortant changes in the general mango
Of ha