The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-12-11
ONLY ONE BID RECEIVED.
Edward King, Charles c. Beaman
and Victor Morawetz the
Purchasers.
PLANS OF THE REoRGANIzERs
An Intervening Petition, However, Filed
on Behalf of the Minority
Interest.

TOPEKA, KANs., Dec. 10. = Probably
1000 people were assembled in front of the
Topeka passenger station of the Atchison,
Topeka and Santa Fe Railroad at 2 o'clock
this afternoon, when J. B. Johnson, special
master in chancery, appeared to sell at
auction the company's vast system of rail-
roads, pursuant to the decree of the
United States Circuit Court of August 81
last.
The notice of sale began with state
ment of the incidents leading up to it and
the various DEGREES OF the court and the
amount now due, $40, 727, $40 OF.
Johnson then read in detail the proper
ties listed for sale, the total sum of 40 S-11
miles of the Atchison, Topeka and Santa
Fe property, extending from the Missouri
River at Atchison to the Colorado line,
and all the appurtenances thereto belong
ing necessary to operate it; shares of capt.
tai stock of other companies held by the
Santa Fe, bonds OF other companies held
by it, in all covering every mile of railroad
or vestige of stock, bonds or other prop
erty held by the Santa Fe Company, the
whole making UP the entire Santa Fe sys-
tenn of 9343 miles.
He then, still reading this notice of
sale, announced that no bid would be en-
tertained without previous deposit as an
evidence of good faith of the bidder OF
$4,000 in money or certified check or a
quarter million dollars of the general
mortgage bonds OF the company; that no
bid for less than $1O,0O0,O00 would be &C
copied, and that after the sale the sue
cessful bidder would be required to deposit
subject to the order OF the special master
half million dollars in money or certified
check as part payment on the purchase
and as pledge that the buyer would make
good his bid. Then followed other con-
ditions of sale and confirmation of sale.
Then the special master quietly and
without any more flourish than If he were
about to sell q town lot to satisfy "boom
mortgage asked for the millionaires or
their representatives who stood before
him TO make an offer. Johnson was not
equal to the task of reading the notice of
sale throughout. In twelve minutes his
voice failed and he turned the paper over
to w. n. Rossington, who read eight min
utes and then was relieved by another,
and so on until the reading was con-.
Guided.
AT $50 O'Clock the reading of the notice
was concluded, and attorneys represent
ing the minority of the bondholders OF the
ST. Louis and San Francisco system and
of $5O3,OOO of the Chicago, Santa Fe and
California bonds read a protest against
the sale of the property.
This done, Johnson said that in pursu-
- "a Hn
offered the property to the highest bid der.
"What am 1 offered?' the auctioneer
asked.
81 offer 100000, oOo," said Edward King
in low voice.
.'Do hear any more bids?" cried john
son.
.'Once, twice-the last call. The prop
erty is sold to Edward King. Charles G.
Beaman and Victor Morawetz."
This ended the greatest auction sale ever
known, and the crowd dispersed to the
Federal building, where Judge Caldwell
held session of court to confirm the sale.
An intervening petition was filed to-day
on behalf of the minority interest of the
st. Louis and San Francisco system in
the Atchison, Topeka and Santa Fe re-
ownership case, praying for an account
ing between the Santa Fe and the st.
Louis and San Francisco companies. In
the language of Santa Fe official, sit is
the same old fight in a new FORM" and it
will not interfere with the proposed re-
organization of the Santa Fe system. 1t
is filed now presumably before the re-
ceivers let go of the Santa Fe, so as to
save the litigants any rights which the
courts may later on decree that they
possess.
The articles of incorporation author
izing the reorganiZed company to do bust
ness have not been filed yet, and Aldace
f. Walker, who is to be chairman of the
executive committee of the new company,
says they will not be till Thursday fore
noon. The charter will be taken out
under the laws Of the State of Kansas,
q special enactment relative to preferred
stock having been passed by the Legis-
lature last winter to meet the necessities
of the Santa Fe reorganization.
While official information is withheld, it
is stated upon the authority of Santa Fe
man who is in position to know. that the
old name Of the company will be retained.
There will be a couple Of changes, but
none that will affect the popular name
"Santa Fe," by which the system is
known in the West, or "Atchison," by
which it is known in the East. The pres.
ent title is "Atchison, Topeka and Santa
Fe Railroad Company" The new title
will be "The Atchison, Topeka and Santa
Fe Railway Company" The word "The"