The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-05
LEGAL SALES.
RECEIVERS SALE
OF THE ASSETS or THE ATLANTIC
SHORT LINE RAILWAY COM


UNDER and by virtue of a decree in
equity in the case of the Central National
Bank of New Ork, complainant w. The
Atlantic Short Line Railway Company, dee
PENDANT, rendered on the 18Th day Of May,
1875, by the circuit court of the United
states FOR the Eastern division OF the
southern district Of Georgia, / VIII sell
as an entirety and In one parcel without
valuation, appraisement redemption or
extension the railroad of the Atlantic
Short Line Railway Company within the
state of Georgia, including the rOadbed.
rlBht-ot-Wayi easements ana appurte-
nances. tracks and rails, including bars,
nuts, spikes, crossties switches, slie5
tracks, Viaducts, bridges ana. all and
singular. everything appurtenant to the
same and belonging thereto, box cars ana
nat cars, tools and implements Of every
character and description belonging To
said railway company Including all the
land situate at or near Sofkce. belonging
to the said Atlantic short Line Railway
Company, and, all ana singular the
rights and franchises of the said At
lantic Snort Line Railway Company, for
the operation of "a railroad In the state
OF Georgia under the laws thereof, at
public auction 70 the highest bidder Or
bidders before the court house door or tho
United states courts, at the usual place
OF the United States marshals sales for
the Eastern division of the Southern dis
triCt of Georgia, at Savannah on the
TWELFTH DAY OF JUNE next, between
the hours of 10 IN. and ? y. m.
1 viii first expose all of the aforesaid
property and assets of the defendant
company for sale at public outcfy as
aforesaid upon the following terms, that
Is to say: No bid to be received for less
than the minimum amount OF two hun
dred thousand dollars 'S20000D In cash;
the highest bidder under said terms being
required to forthwith deposit with said
receiver certified bank check on some
good and solvent bank for the sum Of ten
thousand dollars $4,000, or the same
amount in cash. Any person depositing
said sum OF ten thousand dollars $4,000
shall have the deposit or check returned
TO him by the receiver without deduc-
ton In the event the bid accepted by the
receiver Is not confirmed by the court,
unless the property Is resold at the cx-
pense of said bidder and because OF his
fault IN sailing to comply with the terms
of his BID. The balance of the purchase
price bid by the purchaser shall be paid
within ten days after the confirmation OF
the sale by the court; provided that the
purchaser, IL he controls any of the bona
iide liens and debts OF the Atlantic Short
Line Railway Company which are enti-
lied to partIcipate In the proceeds of the
sale aforesaid shall have the privilege
OF turning in said liens and debts at their
said balance Of said purchase money TO
the extent Of the said pro rata values.
And the said receiver, Immediately
after he shall have received said highest
the terms as above set forth, shall again
offer for sale at public outcry to the
and assets upon the following terms:
No bid to be received for less amount
than two hundred and tifty-nVe thous-
and dollars (S255, 600. The highest bidder
shall be required, Immediately upon the
acceptance of his bid by the said re-
ceiver, to deposit with said re-
ceiver certified bank check for ten thou
sand dollars $4,000, on some solvent
bank or the same amount In money. Any
person deposting said sum of ten thousand
dollars $4,000, shall have the deposit or
check returned to him by the receiver In
the event the bid accepted by the receiver
Is not confirmed by the court, unless said
property Is resold at the expense OF said
bidder and because of his fault in failing
to comply with the terms of his bid. The
balance Of said purchase price shall be
paid as follows: Within ten days after
confirmation of the sale to such purchas-
er he shall pay the sum Of nfty-hve thou
sand dollars (S55.0OO). in cash, which shall
include the ten thousand dollars $4,000,
which shall have been already deposited
al aforesaid; the balance Of said purchase
price shall be paid on or before the expira-
ton of three years from the date Of sale,
the said balance bearing interest at per
cent from date Of sale, payable semi-an-
nually and with the option in the pur-
chaser to pay up the entire principal at any
time before maturity with the interest ac-
crued to date Of payment The said bal
ance to be secured by deposit OF collat-
eral or by other security, which shall be
deemed satisfactory TO a majority of the
board of directors Of the said defendant
company and to be approved by the court.
Provided, further. that whereas, the prop
critics and assets aforesaid of the Atlantic
to a liability Of thirty thousand dollars
$780, 900, on a bond given in the superior
court of Bib county, Georgia, as a part
Of the consideration Of the purchase of the
said property and assets by the reorganiza-
ton committee as set forth in the bill Of
complaint and answer Of defendants, upon
which bond John II. Young. Henry 3. La
mar, Sr j. II. Hanson, w. l..
Strong, Henry Rice and Sol Stein
are sureties and which bond is conditioned
to pay the final judgments which may be
entered in said superior court on certain
claims therein, which are contested. Now,
If final judgment should be entered up In
said superior court on said bond before
the expiration of said three years herein
before allowed for the payment of the de-
ferred purchase money. then said pur-
chaser may be required by an order Of said
into court in cash the amount OF such