The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-10
LEGAL SALES.
RECEIVERS SALE
OF THE ASSETS or THE ATLANTIC
SHORT LINE RAILWAY COM
PANK

UNDER and BY virtue OF a decree in
equity IN the case OF the Central National
Bank OF New York. complainant, vs.. The
Atlantic short Line Railway Company. de-
ieHdanL rendered on the 18th day Of May,
1875, by the circuit court Of the United
states for the Eastern division OF the
southern district OF Gcorgia. 1 Will sell
as an entirety and in one parcel without
Naludtloh' appralsement, redemption. OF
extension the railroad OF the Atlantic
Short Line Railway Company within the
state OF Georgia including the roadbed,
Nght-ot-Way, easements and appurte-
nances, tracks and rails. including bars,
nut, spikes, crossiies, switches, side
tracks, viaducts, bridges and, all and
h!hs uIar everything appurtenant TO the
same and belonging thereto, box cars and
nat cars, tools and implements OF every
character and description belonging TO
SAID railway company, including all the
land situate at or near Sofkee. belonging
to the said Atlantic Short Line Railway
Company, and. all and singular, the
rights and franchises Of the said Al.
lantic Short Line Railway Company, for
OF Georgia under the laws thereof, at
public auction 10 the highest bidder or
bidders before the court house door OF the
Of the United States marshaIs sales for
the Eastern division of the Southern dis
the hours Of 10 a. m. and p. m.
l VIII first expose all OF the aforesaid
property and assets of the defendant
company for sale az public cutlery as
aforesaid upon the following terms, that
Is 10 say; NO bid 70 be received for less
thaR me minimum amount Of two hun
dred thousand dollars 600 0OO 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 $4,000. or the same
amount In cash. Any person depositing
SAID sum OF ten thousand dollars ($lOW0l
shall have the deposit or check returned
TO him by the receiver without deduc-
ton in the event the bid accepted by the
receiver Is not confirmed ~ the court,
unless the property Is resold at the ex-
pense Of said bidder and because Of his
fault Of falling 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 that the
purchaser. II he controls any Of the bona
tide liens aud 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
of turning In said liens and debts at their
said balance of said purchase money TO
the extent Of the said pro rata values.
ANA the SAID receiver Immediately after
ne shall nave received said highest bid
for said property and assets under the
terms as above set forth, shall again
offer for sale at public cutlery to the
highest bidder all Of the aforesaid property
and assets upon the following terms
No bid 10 the received for less amount
than two hundred and hfty-hve thousand
dollars (s255,00O). The highest bidder shall
be required, Immediately upon the ac-
ceptance OF his bid by the said receiver,
10 deposit with said receiver a certified
bank check for ten thousand dollars (siO,-
O0O, on some solvent bank, or the aimo
amount In money. Any person. depa sit-
ing said sum Of ten thousand dollars
$4,000, shall have the deposit or check
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 fall
ing TO comply with the terms OF his bid.
The balance Of said purchase price shall
be paid as follows; Within ten days af-
ter confirmation Of the sale 10 such pur-
chaser he shall pay the sum Of hfty-fivo
thousand dollars 1855 COD, In cash, which
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 semi-annually, and with the op-
ton 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-
ity, which shall be deemed satisfactory to
majority OF the board OF directors Of the
said defendant company and 10 be ap-
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 (S30, 600, 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
~ and assets by the reorganization COM
mlttee as set forth in the bill OF complaint
and answer Of defendants, upon which
bond John II, Young, Henry J. Lamar. Sr..
J. i. Hanson, W. l.. Strong. Henry Rice
and Sol Stein are sureties, and which
bond is conditioned to pay the final Judg-
perior court on certain claims therein,
which are contested Now IL final tudk-
ment should be entered up in said super
Tor court on said bond before the expira-
said three herein before 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 jlldg-
ments. 50 entered upon, said bond 10 be
used in the payment of such judgments.
and said circuit court may enforce the
payment of such cash installment by ap-
propriate orders; and otherwise said thirty
thousand dollars Cs30O0O, 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
az 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 10 the record in
said cause an opportunity to be heard, de-
termine in its discretion whether 1t shall
confirm the sale made upon the cash basis
as herefnDefore 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 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 it shall not be
necessary to advertise said adjourned sale
unless specially directed by the court.
BY the terms Of said decree II 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
sale Of said property and assets upon such
terms and advertisements and at such times
as may seem best to 1t.
JOHN r. YOUNG. Receiver.