The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-19
LEGAL SALES.
Central Railroad and Banking Co.
Of Georgia,
SPECIAL MASTERS SALE.

Notice is hereby given that in pursu-
ance OF a decree OF the circuit court OF the
United States for the Southern district Of
Georgia, eastern division, entered on Aus.
-, 1875. In the suit of the Farmers Loan
AID Trust Company against Central Rail-
road and Banking Company of Georgia et
against the Central Railroad and
Banking Company OF Georgia ct
the cross bill Of the Central Trust Com
pany of New York, We. the subscribers.
special masters, thereby designated, Will,
on Monday, the It'll day of October, 1885,
or the day TO which we may adjourn sucn
sale, at II o'clock noon, at the FRONT
door OF the principal passenger station
of the Central Railroad and Banking Com
pany OF Georgia, IN the city Of savannah
and state of Georgia. sell al public auction,
without valuation, appfalsement, redemp-
ton or extension, TO the highest bidder or
bidders, all the railroad, property, rights
and interests described in the CONSOLE
dated mortgage of the Central Railroad
and Banking Company of Georgia, dated
April /, 1850, and upon which said mort
gage is a lien, said railroad being descriD-
ed in said mortgage as follows, viz:
Commencing at the initial point Of said
line of railroad of said railroad and bank
ing company in the city OF savannah, in
the county Of Chatham, state of Geor-
gia, and running thence in a hortherly
and northwesterly direction through the
counties of Chatham EHingham, Screven.
Burke, Jefferson Washington, Wilkinson,
Jones, Bib, Monroe, Pike, Spalding, Hen
Georgia, to the terminal point of saiG
line of railroad in the city Of Atlanta in
said county OF Fulton And, also. com,
mencing in the town of Gordon, in SAID
county of Wilkinson, at a connection with
the line Of railroad OF said railroad and
banking company above described, ana
running thence in northerly direction
| through the counties of Wilkinson aud
Baldwin, TO its terminal point in the city
Of MilledgeVille, in said county of Bald
win; together with all the estate, right,
banking company OF, in and to the sald
lines Of railroad, and every part and par
eel thereof, including all rights of way,
road-bed, superstructuIe, tracks, bridges,
trestles, Viaducts, side-tracSs, switches,
and switching apparatus, turntables, wat
er-tanks, and signalling apparatus, all
terminal facilities OF every character,
wharVes, warehouses, depot grounds,
yards, stations, station houses, engine
repair shops, and all engines, tenders,
cars and rolling stock and tools, machin-
cry, materials, supplies and other equip
ment now held, owned or acquired by II,
or which it may hereafter acquire for use
in connection with said lines Of railroad
or either of them"
And also all equipment, supplies and ma
terial, and all interest and title therein,
owned by said Central Railroad and Bank
ing Company of Georgia, or purchased or
constructed by the receivers for use in
the operation Of said railroad or now
same will be sold in the manner and upon
the terms hereinafter stated, viz;
The said property will be sold in one
parcel and struck off to the highest and
best bidder. The special masters Will re-
ceYe no bid for the property unless at
the time Of making the bid the bidder
shall deposit with them either the sum
of $4,000, or consolidated bonds secured
by the said mortgage to the amount or
$4,000 par value, OF principal. as pledge
that said bidder will make good his bid
If upon being reported the same Is ac-
cepted by the court.
OF the price for which said property
shall be sold, there shall be paid in cash
at the time of the sale the sum of $780,
! 600, the amount of any cash deposit which
may have been made by the bidder at the
\ time of making his bid being received
| a part thereof; and, also, upon the con-
| firmation of said sale, and from time to
| time thereafter, such. furtheT. portions or
| the said purchase price, shall be paid in
cash as the court may direct IN order TO
meet the expenses of foreclosure and sale
| and allowed preferential claims. The
| court reserves the right to reject any bio
and TO retake possession of and resell
said premises and property upon failure
of any purchaser, for twenty days, to
comply with any order of court requir-
ing further payment of such bid or any
decreed preferential claim.
The balance of the purchase price not
required to be thus paid in cash may
either be paid in cash or the purchaser
may satisfy and make good said balance
of his bid, in whole or in part, by paying
over and surrendering to the special mas
| terS outstanding consolidated mortgage
bonds and overdue coupons appertaining
thereto or either said bonds and coupons
to be received in satisfaction and payment
on such bid at such price or value as
shall be equivalent to the amount that
the holders thereof would be entitled to
receive thereon in the entire pur-
chase price were paid IN cash. II any bid
shall be accented by the court, and the
person or pers3ns making the same shall
fail to comply with all the conditions OF
sale and al orders Of the court in re-
bidder shall be forfeited and shall be APP
piled as the court may direct.
The approved purchaser or purchasers
at said sale shall take the property
purchased subject to the lien of any ann
all debts, obligations and liabilities or
the receivership heretofore or hereafter
TO be lawfully incurred by or under the au-
thority of the court or arising out
of the operation of such railroad and SUBJ
ject also to the lien of any and all claims
heretofore filed in said cause or in the
causes consolidated therein. which the
court has allowed and adjudged or shall
hereafter allow and adjudge to be prior
in lien or superior in equity to the said
consolidated mortgage, and order to be
paid by such purchaser. The approved
purchaser or purchasers, and his or their
assigns, shall be entitled to appear re-
sist and take evidence on all such al
lowances, and to appeal from any ana
all orders or DEGREES of the court in re-
spect to such claims or receivers obliga-
lions, or any of them, and shall have
all the rights in respect to any such APP.
pearances and appeals which the Central
Trust Company of New York would have
The approved purchaser or purchasers
at said sale will not be required to as
sumo or adopt any leases executed by said
mortgagor corporation, but shall have the
right to elect whether or not to assume
or ADOPT the same of any thereof,
Upon confirmation of said sale and com
pletion of the purchase by the purchaser
or purchasers, said purchaser or pur>
chasers will be entitled to receive from the
special masters a deed or deeds of the
property sold, and also a deed or deeds
Of assurance to be executed according
to law by the Central Trust Company OF
New York, and also by the Central Rail-
road and Banking Company of Georgia
The sale and the title obtained thereby
shall be subject in all things to the tn
partite mortgages dated October /, 1872
executed to the Farmers Loan and Trust
Company, and to the provisions Of the de-
cree rendered by said court foreclosing
said tripartite mortgages, and subject 10
all the indebtedness secured by said tri.
partite mortgages. The purchaser or pur.
chasers and his or their assigns shall
receive and hold title to the property so
purchased subject to the said tripartite
mortgages and to said decree and all the
Indebtedness secured thereby, and subject
also to all costs incurred in the original
consolidated causes or either of them, in
Guiding allowances to solicitors or coun-