The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-26
LEGAL SALES.
RECEIVERS SALE
VI THE ASSETS or THE ATLANTIC
SHORT LINE RAILWAY COM
RANX


UNDER and by virtue OF a decree I'm
equity IN the case OF the Central National
/ i'ahk OF New York, complainant VS. The
ati9htc short Line Railway Company. de-
,,sSdnludht. rendered on the 18th day OF May,
ttn1s, by the circuit court OF the United
Sgta.Ss LOT the Eastern division of the
S 80 district Of Georgia. win sell
as ~ entfety and In one parcel without
Naiuation, appraisement redemption, or
SSkStension the railroad Of the Atlantic
snort Line Railway COmpanv within fha
STATE OF Georgia. including the rOadbed,
Ilkht-ot-way, easements and appurte-
n nance, tracks and rails. including bars.
tnuts, spikes, crOssties. switches side
tracks. viaducts. bridges and, an and
sans uIar, everything appurtenant 70 the
Seane anu belonging thereto. box cars and
IA cars. tools and implements OF every
character and description belonging to
SSald railway company. including all the
ANU situate az or near Sofkee belonging
20 Ihe said Atlantic Short Line Railway
company and. all and singular, the
Iisnts ana franchises Of the said At.
!shtlc Short Line Railway Company, for
~ ~ Spelatlon OF a railroad In the state
OF Georgia under the laws thereof, al
PuphG auction TO the highest bidder or
Dldners before the court house door OF the
unfed States courts, at the usual place
OF the United States marshars sales for
me Eastern division of the Southern dis
TWELFTH DAY OF JULY next. between
tho hours Of 10 a. m. and y. m.
l win first expose all OF the aforesaid
properly ana assets OF the defendant
company for sale at public cutlery as
aforesaid upon the following terms thar
Is to say No bid to be received for less
than the minimum amount of two hum
dred thousand dollars G2o0 900 in cash:
the highest bidder under said terms being
required TO forthwith deposit with said
receiver a certified bank check on some
good and solvent bank for the sum of ten
thousand dollars Gl0,00O. or the same
amount in cash. Any person deposlting
said sum of ten thousand dollars $4,000
snail nave the deposit or check returned
70 MIN by the receiver without deduc-
ton IN the event the bid accepted by the
receiver Is not confirmed by the court,
unless the property Is resold at the ex-
pense OF said bidder and because OF his
lauit OF railing to comply with the terms
OF his bid. The balance Of the purchase
price bid by the purchaser shall be paid
within ten days after the confirmation OF
the sale by the court: provided thai the
purchaser, II he controls any OF the bona
noe Hens and debts OF the Atlantic Short
Line Railway Company which are enti-
tied To participate IN the proceeds OF the
sale aforesaid shall have the privilege
or turning In said liens and debts at their
pig, rata value as part payment OF the
SAID balance of said purchase money to
the extent of the said pro rata values.
And the said receiver Immediately after
he shall have received said highest bid
Tor said property and assets under the
terms as above set forth, shall again
highest bidder all OF the aforesaid property
and assets upon the following terms:
no bid 10 the received for a less amount
than two hundred and fifty-fiVe thousand
dollars (S255 900. The highest bidder shall
be required, Immediately upon bhe ac-
ceptance Of his bid by the said receiver,
70 deposit with said receiver a certified
bank check for ten thousand dollars go
900, on some solvent bank, or the same
amount In money. Any person deposit
ing said sum OF ten thousand dollars
t$lOOOO, shall have the deposit OF check
returned to him by the receiver In the
event the bid accepted by the receiver Is
property Is resold at the expense Of said
bidder, and because OF his fault in fall
Ing TO comply with the terms OF his bid.
be paid as followsy Within ten DAYS az
ter confirmation Of the sale 10 such pur-
chaser he shall pay the sum of nfty-hve
shall include the ten thousand dollars
$4,000, which shall have been already
deposited as aforesaid: the balance OF
said purchase price shall be paid on or
before the expiration of three years from
the date of sale, the said balance bearing
interest at per cent. from date of sale,
payable scml-annually, and with the OPP
ton IN the purchaser 10 pay up the entire
principal at any time before maturity
with the interest accrued TO date OF pay
ment. The said balance to be secured by
a deposit of collateral, OF by other secur-
lily, which shall be deemed satisfactory to
majority or the board of directors OF the
said defendant company and 10 be APP
proved by the court. Provided, further.
that ato whereas p re- the properties and assets
way Company are subject to a liability
of thirty thousand dollars $4,000, on a
DOHh given IN the superior court OF BiDD
county, Georgia, as part of the consid-
Grafton of the purchase Of the said proper
~ and assets by the reorga nization COM
mttee = set forth in the bill Of complaint
and answer of defendants, upon which
bond John Il. Young, Henry J. Lamar. Sr,
j. +. Hanson, w. L. Strong, Henry Rice
and Sol Stein are sureties, and which
bond is conditioned to pay the final judz-
ments which may be entered in said SUI
perior court on certain claims therein,
which are contested. Now, II final judg-
ment should be entered up in said super
Tor court on said bond before the expira-
ton of said three years hereinbefore al
lowed for the payment OF the deferred
purchase money, then said purchaser may
be required by an order of said circuit
court to forthwith advance and pay into
court in cash the amount Of such judg-
ments so entered upon, said bond to be
used in the payment of such Judgments,
and said circuit court may enforce the
payment of such cash instaliment bv an
propriate orders; and otherwise said thirty
thousand dollars $4,000, shall be paid
at the expiration OF three years as afore-
BY the terms OF said decree it was or.
dered that the receiver shall make a re-
port of said sale and his actions and do
ings in the premises and file the same in
said circuit court within five days after
said sale. That within five days after the
filing of said report. or as soon thereafter
as practicable, the matter of the confirma-
ton of said sale shall be heard and deter
mined and the court shall thereupon.
after giving the parties to the record in
said cause an opportunity to be heard de-
termine in its discretion whether II shall
confirm the sale made upon the cash basis
as hereinbefore provided or the sale,upon
the time basis as hereinbefore provided or
either OF them
By the terms of said decree It was fur
Their ordered that should the court on or
before the day of the sale Of said property
and assets as hereinbefore directed to
be made, order a postponement or
adjournment of said sale 10 some other
and later date thereafter than that fixed
for the sale in this order. that the receiver
shall at the time and place for said sale.
provided in this order make public an
nouncement of the fact of such adjourn
ment, and that in such case IL shall not be
necessary to advertise said adjourned sale
unless specially directed by the court.
BY the terms Of said decree IL was fur
Their ordered and decreed that should the
sales hereinbefore first ordered to be
made and said adjourned sales, or either
Of them, fail to be made after due adver-
tisement as herenbefore provided, and
after effort made by the receiver to make
said sale in accordance with this decree.
or said sales having been made, should
fail to receive the confirmation Of the
court, then in that case the court shall
have power to direct a re-exposure for
sale of said property and assets upon such
terms and advertisement and at such times
as may seem best TO It,
JOHN r. YOUNG, Receiver.