The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-12-10

track, and other property worth
more than any mans private fortune in
the United States.
Shortly before o'clock the great men
of the Santa Fe railroad began to gather
ct the little red brick depot at the foot of
Fifth street. There were many people
there from around town who were pres
ent largely through curiosity. 1t isn't
every day that one can see $3.50, 100000
auction.
At five minutes past 2 o'clock this aft
ernoon Special Master in Chancery J. B.
Johnson, barehea ded, mounted the stone
steps leading to the dining hall at the
Gapeka station of the Atchison,
Topeka & Santa Fe Railroad company,
and announced that he would offer the
great railroad property for sale. A large
crowd coversd the platform and tracks
thereabouts. Mr.. Johnson said that
owing to the failure of the railroad COM
pany to pay $40, 100000 within a certain
twenty days last fall, the United States
court had issued a decree ordering the
sale of the property. He then proceeded
to read the lengthy decree.
Before Special Master johnson had
completed the reading his voice weaken
cd and he called on Col. Rossington. one
of the attorneys for the Union Trust COM
pany, to finish the decree. Following this
hessrs. Peabody Todd and Whitridge,
by their attorneys, Fuller u Whitcomb,
holders of certain consolidated bonds of
the St. Louis s. San Francisco gave no.
tice in lengthy petition that five mil
lions of these bonds had been fraudu-
lentlv obtained and were first lien on
the property. These petitioners gave no.
tice thev would contest the sale OF the
property on this ground. Other
objections were raised by the attorneys
for the Chicago, Santa Fe & California
bond holders These objections were
long and tiresome legal documents.
Nothing will prevent the sale
today though" said prominent Santa
Fe counselor as he stood impatientIy on
the platform, 1.-THE sale will be confirmed
Immediately the property turned over
TO the new company by tonight or to-
morrow, but the road will formally re-
main under the receivers management
till the end of the month
10 avoid complicating the accounts.
The court has already disposed of these
objections and wiped them out of the
way SO far as today's sale is concerned"
At the conclusion of the reading Of
the objections Judge johnson stood up
and said: sin pursuance to the decree
and right of sale just read I offer this
property for sale at public auction to the
highest bidder"
Edward King, president of the Union
Trust company, who was leaning against
the wall directly at the side
| of Judge johnson, said in a very off
hand manner, 81 bid sixty million dol
lars"
"Do 1 hear any other bid?" asked
Judge Johnson. 'fThere is none (after
a short pause), and l declare the prop
erty sold to Edward King, E. c. Beamer,
and Victor Morawetz jointly.
Tina: is all there is to it, gentlemen"
The crowd on the platform dispersed
rapidly the officials who had been sitting
on the steps behind Judged Johnson step
ped down, and the greatest auction sale
in the history of modern times was at an
end.
lhe work of the Santa Fs reorganiza-
ton committee was completed this after
noon when all the securities of the old
Atchison, Topeka s. Santa Fe Railroad
company were transferred to the bond
holders, and the railroad property was
transferred to the reorganization CON-
mittee.
The reorganization committee, now
being in possession of the property, will
tomorrow file the new charter, and the
road will be at the frat meeting of the
new board of directors formally turned
| over to the new company.
The new charter which is to be fled