The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-19
L-AGAL SALES.
RECEIVERS SALE
OF THE ASSETS OF THE ATLANTIC
sHOIir LINE RAILWAY COM
RAAN

ftulity ~ me case OF fhe Central National
i's-nk or New York. complainant. vs. ME
Atlantic Short Line Railway Connanv de-
t'indant, rendered on the 18th dav on Nav
~. Dy tne circuit court of the United
'ssta.Sa Tor the Eastern division OF the
southern district of Georgia, i will sell
rs an entirety and In one parcel without
Na!uation, appraisoment, redemption or
( S9S,citis.'h the railroad Of the Atlantic
snort Ling Railway Company within the
| sttate OF Georgia, including the roadbed,
I lihnt-oL-Way, easements and appurte-
nahces, tracks and rails. including bars.
huls, spikes. crossties. switches side-
iaeh55, Naduets. bridges and, all and
sllis uiaT' everything appurtenant TO the
same and belonging thereto box cars and
nat cars, tools and implements Of every
tnaiucter and description belonging Il
lhhu situate at or near S0fkee beloflRiuns
70 the said Atlantic Short Line RaiIwaT
1ompapy, and all and singulan tha
| rights and franchises of the said A.,
tSnuc short Line Railway Company, for
o cqo 9lseratlon OF railroad in the state
OF 9eofsla under the laws thereof, as
puDlc auction to the highest biddeo or
pluuerS peaore tho court house door OF the
of tbe .T eites es9eTts at the usual pleoq
tne Eastern division Of the Southern diss
INC 1,lSt OF Georgia, at Savannah, on the
Nv ELFTH DAY OFJULY next betveen1
tte hours of 10 a. m. and 2 D. m. =
wlll trst expose all of the aforesafH
pToperty and assets of the defendan9
company for sale at public outcry az
aforesaid upon the following terms. thar
- TO say; No bid to be received Tor les4
J ured thousand dollars (S200.OOO) in cashs
the highest bidder under said terms being
required to forthwith deposit with said
receiver a certified bank check on sona1
good and solvent bank for the sum Of tenk
thousand dollars Nl000O, or the same
amount IN cash. Any person depositfnR
nall sum or ten thousand dollars (Sl0OOo(
shail have the deposit or check returned
20 MIN by the receiver without deducI
ton IN the event the bid accepted by the.
receiver Is not confirmed by the court.
unless the property is resold at the exs
pense of said bidder and because of hia
fault Of failing to comply with the rbrnna
OF ms bld The balance OF fho purchase
price bid by the purchaser shall be paid
Wlthln ten days after the confirmation OF
the sale by the court; provided that the
purchaser, II he controls any OF the bona.
llde liens and debts Of the Atlantic Short
Lane Railway Company which are enti-
lleu 70 participate IN the proceeds of the
sale aforesaid shall have the PRIVILEGES
OF turning In said liens and debts at their
PRO rata value as part payment of the
SAID balance OF said purchase money to
the extent OF the said pro rata values
Ana the said receiver Immediately after
ne shsull have received said highest bid
Tor said property and assets under the
terms as above set forth. shall again
piIer tor sale at public cutlery TO the
highest bidder all OF the aforesaid property
ana assets upon the following terms
No bid TO the received for a less amount
| than two hundred and ffty-hve thousand
| dollars (S2J5,OOO. The highest bidder shall
| Dc required, Immediately upon the ac<
| ceptance OF his bid by the said receiver
a
bank check for ten thousand dollars ($l0,-
600, on some solvent bank, or the same
amount IN money. Any person depczit-
ing said sum of ten Thousand dollars
HO0O0), shall have the deposit or cheek
returned TO him by the receiver in the
event the bid accepted by the receiver Is
not confirmed by the court, unless said
property Is resold at the expense of said
bidder. and because OF his fault In faill
iinng TO comply with the terms Of his bid.
Ihe balance OF said purchase price shall
be paid as follows: Within ten DAYS ar
ter confirmation of the sale-to such pur-
chaser he shall pay the sum of fifty-hve
thousand dollars 055,OOO) IN cash. which
snail 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 semi-annually. and with the op-
tion in the purchaser to 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, or by other secur-
1ty which shall be deemed satisfactory to
majority of the beard OF directors OF the
said defendant company and to be APP
proved BY the court Provided, further.
that whereas, the properties and assets
aforesaid Of the Atlantic Short Line Rail-
way Company are subject to a liability
OF thirty thousand dollars (s90,OO0), on a
BOND given In the superior court Of Bibb
county, Georgia, as "a part of the consid-
Grafton Of the purchase Of the said proper
mittee as set forth in the bill OF complaink
and answer Of defendants, upon which
pond John X. Young, Henry ]. Lamar. Sr,
j, +. Hanson, w. l. Strong, Henry Rieo
and Sol Stein are sureties and which
bond is conditioned to pay the final jude-
ments winch may be entered IA said SUI
which are contested Now, II final tnda-
ment should be entered up in said slper-
Tor court on said bond before the expira-
ton Of said three years hereinbefore al
loWed Tor the payment of the deferred
purchase money, then said purchaser may
be required by an order of said edrcslft
court to forthwith advance and nav fnfr,
court in cash the amount Of such judg-
ments so entered upcn said bond to be
used in the payment of such Judgments
ana said circuit court may enforce the
payment of such cash instalIfnent by an
proprate orders; and otherwise said thirty
thousand dollars $4,000, shall be paid
said.
BY the terms OF said decree Il was o.
dered that the receiver shall make a re-
port of said sale and his actions and do
ings In the premises and file the sans in
said circuit court within five days after
said sale. That within five days after the
Ming Of said report, or as soon thereafter
as practicable, the matter Of the confirrna-
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 It's 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,propertv
and assets as hereinbefore directed to
be made, order a postponement or
adjournment of said sale to 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 Ii shall not be
necessary TO alvertise said adjourned sale
unless specially directed by the court
BY the terms of said decree It 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 hereinbefore 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