The daily morning journal and courier., 1895-05-02
AGAINST THE NEW ENGLAND
JUDGE WALLACE RENDERS IN IM-
 PORTlNT DECREE.

| It is in the Matter of the Foreclosure of a
 Five Million Dollar MOrtgage-There Are
 Probabilities That Under the Order the
 Road Will be Sold at Auction, and That,
 Too, Within a Short Time.
 New York, May 1.-Judge Wallace, in
 the United States circuit court, rem
 dered a decree to-day against the New
 York and New England railroad in the
 matter of the foreclosure of a $5,0OO,OOO
 mortgage.
 The mortgage was executed June 22, l 1882. The plaintiffs in the case were
 William l. Hart, Frederick J. Kings bury and Eustace c. Fltz, who were trustees of said mortgage or deed of trust
 The decree recites that the mortgage made by the defendant railroad com pany is a valid and subsisting mortgage and constitutes a lien upon the mort gagged premises and property described in said mortgage. It is decreed that the lien of the mortgage is prior to any other lien upon said property, ex- cept that it is subject to the prior lien of mortgage to the Boston Safe De- posit company, under date of January 1, 1876 known as the first mortgage bonds for the aggregate of $10,000,000.
 It is further decreed that at the time of the filing of the bill of com plaint the trustees of the mortgage, Messrs Hart, Kingsbury and Fitz, were entitled to take possession of all the property covered by the mortgage and receive the income thereof, to be ap- piled in accordance with the provisions of said mortgage; that prior to the fil- ing of said bill of complaint the de- fendant railroad company had made default and was then In default by It's failure to pay interest which became due on February 1, 1894.
 It Is declared that the railroad com pany failed to pay interest due on Au- gust l, 1894. and on February 1, 1895. The complainants as trustees are entt- tied to the relief prayed for by them in their complaint and to forecIose said mortgage and sell the mortgaged premises and property. It is decreed that the property rights and franchises covered by the mortgage to Hart and others as trustees should be sold as an entirety. It Is further decreed that the principal of said s5,OOO,OOO is due and payable and that $4,500. 900 interest is now due. IL Is ordered that withint twenty days of the entry of this decree defendant railroad company pay to the compliments for the benefit of the par ties entitled thereto the principal of $5,- 000000 with interest due, also a suffi- cient sum to pay the costs of complain ants in this case and that unless each and all of said payments be made in twenty days the lien existing by virtue of said mortgage shall be foreclosed and all the mortgaged premises be sold with out appraisement or right of redemption at public auction at the federal building at Hartford, Conn. At least thirty days notice of the sale shall be given by pub | lication. The sale may be postponed at | the desire of the trustees or by order 1 of court. No bid shall be received for | the sale unless the bidder deposits $1O0,- | 900 in some responsible bank If any | accepted bidder fails to comply with the | terms of the sale his money shall be | forfeited, F, P. Lowrey is appointed | to make the sale.
 Judge Wallace authorized Thomas c. | Platt and Marsden J. Perry, as receiv- ers of the New England road, to pay B, 205.6s for six months rental of the Milford and Woonsocket railroad, and l D. 18TH rental of the Milford Franklin 1 md Providence railroad due March 31 | asf