New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-10
NEV-ENGLAND ROAD SOLD.
FOUGHT BY THE REORGANIZATION COM
MITTEE.
THERE WAS ONLY ONE BID. AND THAT WAS FOR
s5oooooo-THE NETWORK AND Nh"-hA'hN
PEOPLE DENY HAVING ANY INTEREST


IN THE TRANSACTION.
hartford. July 9-Francs 7. Lowrey' OF NO
Rroad-st Ncw-York. Master Commissioner APP
nointed by the United States Court sod inc New
,vr, ord New-EnrlanG Railroad this noon at pub
10 auc,ion in the United States Court room. under
foreclosure Of the second mortgage bonds 10 Johh
" simpson counsel for the Reorganization 'om-
,,ittee for ScOocc0. MI simpson WAS 'he o''y
bidder The gale included all the rairoau prop
crtv rights franchises, rolling s'ocn, 'oo's' ma
teraIs and supplies. The Reorganization Commit
49,. T. ,or,nosed of John !. Waterbury ana Henry
u, f,arnon of New-York and T. J. Coolidge, jr..
OF Boston ~, ,.au
John l. Cadwalader. counsel for second-mor'sage
trustees: Francis T. Lowrey, commissioner 10 Sell.
and John W. Simpson ana lhoraS '""one'' VI
Newyork counsel for tho REORGANIZATION commit
ar =, tho courthouse early. Mr.. Simpson
,o,o n check for $4,000 and handing II TO Mt
Iowrev said: That qualities me TO bii ior the
road" Secretary Perkins. OF boston T. A.. i'o"'
bins the roads attorney, w !. hart Vi hoe'on'
and F J. Kingsbury. Of waterbury trustees o' 'he
secondmortsage holders. +. W. WhitrIdse OF
Xow-york. James j. Goodwin and Francis r.
coolov Of Hartford were present Inc keoIsaniza-
,ior committe. had had the thing In It's own hands
n such An extent that rival bidders woui nave
been at n disadvantage"
When the reconstruction OF the ROAD was uhdor-
,ate, the stockholders were called on. and the
y
# will be adopted An important question Il as 10
Who holds the certificates that will now he turned
into shares OF the new stock The decree Oh INC
United States Court provides thit the Da'ahOe "'
the purchase price be paid AT such time as 'he
court may direct on or after conhrinauoh OF sa'e'
and II shall be paid in money
New-Hav-n July s-Judge John HAN. vice.
nres,dent OF the New-York. Sew-Iiaven and Hart
ford Railroad this afternoon read dl'patch an
nouncing the sale OF the Ne"-iotK anu Ne"-
England Railroad to John Simpson FOR the heor-
ganization Committee. When asked 10 comment on
II. he said:
"rhere Is nothing surprising In the news. II Is
s,rictlv in accordance with the programme mapped
out and announced months ago by the Reofg"ni-
zaion Committee. -, ...-tt,,o,
po Was re. amy teP 'nc sne Oh inv
NO: none whateyer." he answered ,ro, -.
Does the New-Haven road now coh'ro' 'he
~, does not, The New England road" he said
was bought by Mr. Morgan for his own use Tor
the use Of his friends TO sell, to give away o. -
an ordinary man buys hors. and wagon. and
he will dispose OF II az he sees At
Judge Hall was very einphauc N hi iSs
Ncw-Have1 and the New England roads had been
arranged
Henry W Cannon. Of the Reorganization Com
mittee % the New-york and Ncw-Englnnd Kan
road. said yesterday: The sale OF the Ne"-io rk
and Ncw-England to The Reorganization Commit
tee under foreclosure OF the second mortgage bonds
al Hartford to-day substantially completes the
work OF the committee. \ new corporation VIII be
organized Immediately to take charge OF the prop
eriy. tho committee having obtained during the
last six months the necessary legislation In Marsa-
chusetts Connecticut. Rhode Island and New y ork.
The new company Will carry out the rcorsanza-
ton plan and issue securities as provided by IL.
and close up the affairs OF the committee as rap
idly possible
II was said in wall Street yesterday that the
completion Of he reorganization, WI probably
the control OF the New England road IL now In
the hands OF J. =. Morgan and interests asso-
clated with him, but until the securities OF the
new company are exchanged for the old ones II II
unlikely that anything definite Will become known
as to who controls the property. II 1t becomes
A han