The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-12
LEGAL SALES.
LEGAL SALES.
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Central Railroad and Banking Co.
Of Georgia,
SPECIAL MASTERS SALE.

- 1870 IN me suit OF the Farmers Loan
ana Trust Company against Central Rail-
road ana Banking Company of Georgia et
al ana Alexander Brown & Sons
against the Central Railroad and
al, consolidated cause in equity, upon
NE cross bill OF the Central Trust Com
pany or New York, We, the subscribers,
special masters, thereby designated, viii,
on Monday, the eth day OF October, 1885,
or the day TO which We may adjourn sucn
sale, az u 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
ana state Of Georgia. sell at public auction,
without valuation, appraisement, redemp
ton or extension. 10 the highest bidder or
bidders, ali the railroad, property, rights
and interests described in the conson-
dated mortgage OF the Central Railroad
and Banking Company OF Georgia, dated
April l, 1850, and upon which said mort
gage Is 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 Georr
gla, and running thence In a northerly
and northWesterly direction through the
counties OF Chatham, Efhngham, ScreVen,
Burke. Jefferson. Washington. Wilkinson,
Jones, Bib, Monroe, Pike, Spalding, Hen
ry Clayton and Fulton, In said state OF
Georgia, to the terminal point of SAID
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 connection with
the line of railroad Of said railroad and
banking company above described, and
running thence In "A northerly direction
through the counties Of Wilkinson and
Baldwin, to Its terminal point in the city
of Milledgeville, in said county of Bald
win; together with all the estate, right,
title and interest of said railroad ana
banking company of, in and to the SAID
lines of railroad, and every part and par
gel thereof, including all rights Of way,
road-bed, superstructuIe tracks, bridges,
trestles, viaducts, side-tracks, 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
houses, coaling stations and machine and
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 1t 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 Banks
ing Company of Georgia, or purchased or
constructed by the receivers for use ~
the operation OF said railroad or now
in use on such railroad system. The
same will be sold in the manner and upon
the terms hereinafter stated, viz:
The said property VIII be sold in one
best bidder. The special masters viii re-
ceive 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
$25, 600 par value, of principal, as a pledge
that said bidder will make good his bid
If upon being reported the same Is aoa
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 $5O,-
CO., the amount of any cash deposit which
may have been made by the bidder at the
time OF making his bid being received as
a part thereof; and, also, upon the con-
time thereafter, such further 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 thar
the holders thereof would be entitled to
receive thereon in case the entire pur-
chase price were paid In cash. IL any bid
shall be accepted by the court, and the
person or persons making the same shall
fail to comply with all the conditions OF
sale and all orders of<the court In re-
spect thereto, the sum deposited by the
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 ana
the receivership heretofore or hereafter
to be lawfully incurred by or under the au-
thority of the court, OF arising out
OF the operation of such railroad, and sub
jeet also to the lien Of any and all claims
heretofore fled in said cause or In the
causes consolidated therein, which the
court has allowed and adJudged or shah
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. me approves
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 and
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 ana Appeals Wnlcu 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 pufs
chasers will be entitled to receive from the
special masters a deedT or deeds of the
property sole, and also 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 trl-
partte 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 tribartite mortgages, and subject TO
all the Indebtedness secured by said trf,
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
GLIDING allowances TO solicitors or coun-
sell and expressly subject to all the rights,
liens. claims and equities Of the South
with respect to said tripartite mortgages
and the bonds secured thereby as they
NAV be at any time hereafter decreed or
= 9t,tdOad IN a. in said coneolfda tad cause