New-York tribune., 1895-12-11

gOPEkA NOW CAN BOAST cF THE BIGGEST AUG
r1oN SALE EVER KNowN-EDwARD KING
MADE THE ONLY BID-NEw DIRECTORS
TO MEET TOMORROW
Topeka Kan. Dec 1o.-Probably 1000 people
were assembled in front of the passenger station
of the Atchison. Topeka and Santa Fe Railroad
at o'clock this afternoon when ]. r. Johnson,
special master in chancery appeared TO sell at
aect!on the companys vast system of railroad
pursuant to the decree OF the United States Cir
cult Court OF August 81 last. The notice OF sale
began with statement Of the incidents leading
Up TO it, the various decrces OF the court and the
emount now due s1io 727, ,5i9 o. under the general
mortgage
Nj Johnson then read in detail the properties
listed for sale the original 47O 5Sl0o miles of the
Atchson. Topeka and Santa Fe property extend
ing from the Missouri River at Atchison to the
Colorado line and all the appurtenances thereunto
belonging necessary 10 operate it; shares Of cap
.ta! stock OF other companies held by the Santa
Fe bonds of other companies held by IT: in all
covering every mile of railroad vestige OF
stock. bonds or other property held by the Santa
Fe Company the whole making up the~entire
Santa Fe system OF sSi3 miles.
He then. still reading this notice of sale,
nounced that no bid would be entertained with
out previous deposit an evidence OF the good
faith OF the bidder Of $1,000 in money or certified
check. or s25O.OoO OF the general mortgage bonds
OF the company; that no bid for less than slO-
600 OOo would be accepted and that after the sale
the successful bidder would be required TO de-
posit subject to the order of the special master
100000 in money or certified check as part pay
,nent on tho purchase and pledge that the
BUYER would make good his bid Then followed
other conditions Of the sale and the confirmation
Of the sale.
Judge Johnson was rot 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. H. Rossington, who read eight min
ctes and then relieved by another and so on
until the reading was finished at 2:3O O'Clock At
torneys representing the minority OF the bond
holders of the St Louis and San Francisco sys-
TEN and Of s503.O00 of the Chicago. Santa Fe and
California bonds read a protest against the sale
OF the property.
This done. Judge Johnson said that in pursu-
euce Of the notice Of sale just read, he offered
the property 20 the highest bidder
.'Vhat am offered?" the auctioneer asked.
81 offer $50. eOO," said Edward King in a low
voice
do hear any more bids?" cried Judge john
son. "Once twice. the last call. The property
IS sold to Edward King Charles C. Beeman ana
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 pe-
half OF the minority interests of the St Louis ana
San Francisco system IN ane for sp ac.
counting between the Santa Fe and the Frisco
companies. In the language OF a santa re OH,
cial "it is the same old fight In new iorm' ana
It viii not interfere with the proposed Teorgah-
.zation of the Santa Fe system. 1t is MED now
presumably before the receivers let 30 Oh tne
fha
which the courts may later on cecTee thal t'eS
possess. .,.,~ 49,,
reorganized company to do business have not
been filed yet, and Aldace F. Walker, VINO IS 10
he chairman Of the Executive Committee OF the
company says that they VIII m not ha De ,akan ,,,
out under the laws OF the State OF Kansas.
special enactment relative to preferred STOCK nav
ing been passed by the Legislature last winter
10 meet the necessities OF the santa re reolea
iZation. ,.,, :. &,
While official Information is withheld, it is
stated upon the authority of Santa Fe man VINO
Is IA a position to know that the old name OF the
company will be retained. There VIII De coul,ie
Of changes but none that VIII anec. me Popu-a. o
In the West or Atchison, by which 1t is known IN
the East The present title is Atchison Iopeka
and santa Fe kairoaq CopanS any santa Ims sw Fe Rail- M
way Company The word the - put IN the new
title because since the original charter was grant
ed the Legislature has made an enactment re,
ouring that word 70 be prefix IN the titles OF all
T. Is not reported, either officially or unoffi-
c!ally what amount the capital stock VIII be hXed
At3 o'clock this morning special train arrived
in Topeka from Chicago. with PRESIDENT Il. J..
Ripley First Vice-President d. B. Robinson
Third Vice President Paul Morton, General Sohc-
flor E. d. Kenn. George L. Peck Receiver AlCace
r Walker and John ]. McCOok. Edward King,
president and Wheeler Fl. Peckham. genera
counsel Of the Union Trust Company or New
York Charles c. Beeman and Victor Morawetz;
representing the Reorganization Committee. ana
q number of others.
There will be a meeting Of the new board OF
directors OF the Atchison Company IN Topeka to-
morrow Attached 10 the North Shore Limited
train which left the Grand Central Station over the
Naw-York Central and Hudson River Railraod al
40 o'clock yesterday afternoon was special car
containing these directors c. 8. Gleed r. s. Hayes
T. n Gibbs George G. Haven, Thomas p. Fowler,
q Nickerson, William Rotch and BenJamn
p Cheney. Hermann KoDbe. secretary OF the nc
organization Committee aeconpmSq me t az rsarze
ana designate the executive oniceEs OF the S"ni-
pany They will name E. r. Kipey n as nd Paul
Nor,on Son of the Secretary OF Agriculture, as
third vice-presldent The office Of second viee-pres-
'6riebt Braman OF Boston said yesterday OF
,he Intervening petition OF the bondhoders OF the
o., i;ne ~ tine Atchson The intervening peti-
ton was to prevent me saie on 'e ne Co.
noss ~ no.ifyng the purchasers thst claims were
pending The early Wherige coiIiltaee 'rer ~ ,hnir
liar petitions but taey pr9'een pro peon in order 10 pro-
tect any bonds held In New-Englan1. They shoua va
Claims aggregate some 100000 TO SoOo'cW OF
bonds"
r.EHIGu VALLEY SELLS BONDS
p,uasephia, Dec 10 (spec!aD-Edward b. Smith
T. O. have purchased from the Lehish Valley Rail
M .1FD Per