The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-22
LEGAL SALES.
RECEIVERS SALE
OF THE ASSETS or THE ATLANTIC
SHORT LINE RAILWAY COM
pANX

UNDER and by virtue Of a decree in
I equity ln The case OF the Central National
/ hauh oi NcW ork, complainant rs. The
I Atlantic Short Line Railway COMPANY. de-
] PENDANT, rendered on the l3ih day Of May,
1880, by the circuit court OF the United
states for The Eastern division Of the
] southern district OF Georgia, I viii sell
] as an entirety and in one parcel without
I valuation, appraisemeut. redemption OF
! extension the railroad OF the Atlantic
! snort Line Railway Company within the
I state OF Georgia, including the roadbed,
/ Iibht-oL-Way. ease inents and appurte-
/ uances, tracks and rails, including bars.
] nuts, spikes. Crosstics, switches, side
I tracks. Viaducts. bridges and. all and
! singular everything appurtenant 10 the
same and belonging thereto box cars aud
! HAT cars tools and implements Of every
] character and description belonging to
said railway company, including all the
/ land situate at or near S0fkee. belonging
I TO the said Atlantic Short Line Railway
I company and, all and singular. the
rights ana franchises OF the said At
/ lantic Short Line Railway Company, for
I the operation Of a railroad in the state
/ of Georgia under the laws thereof at
public auction to the highest bidder or
I bidders before the court house door OF the
united states courts, at the usual place
/ the Eastern division Of the Southern dis
I trict OF Georgia, at Savannah on the
/ TWELFTH DAY or JUNE next. betweeu
! mo hours OF 10 a m. and p. m.
property and assets OF the defendant
/ company for sale at public cutlery aa
i
| IS 10 say: No bid TO be received for less
/ than the minimum amount OF two hum
/ " ~ tltoIselit Nollais > Ns-vVyyvy III ASH
/ the highest bidder under said terms being
required to forthwith deposit with said
| receiver o certified bank check on some
| good and solvent bank for the sum of ten
| thousand dollars Cl000O, or the same
amount In cash. Any person depositing
said sum Of ten thousand dollars CSl0,000H
| shall have the deposit or check returned
| to him by the receiver without deduc-
ton in the event the bid accepted by the
| receiver r. not confirmed BY the courts
| unless the property is resold at the ex-
pense of said bidder and because OF his
/ fault In falling to comply with the terms
/ of his bid. The balance Of the purchase
price bid by the purchaser shalt be paid
/ within ten days after the confirmation OF
/ the sale by the court; provided that the
| fde liens and debts OF the Atlantic Short
/ Line Railway Company which are entt-
tied to participate In the proceeds OF the
sale aforesaid shall have the privilege
| OF turning In said liens and debts at their
pro rata value as part payment OF tho
| said balance of said purchase money to-
| the extent Of the said pro rata values.
/ And the said receiver, Immediately
after he shall have received said highest
the terms as above set forth, shall agairs
| offer for sale at public cutlery to thu
| highest bidder all Of the aforesaid property
/ No bid TO be received for a less amount
/ than two hundred and hfty-five thOus-
/ and dollars (S255 600. The highest biddeR
| acceptance Of his bid by the said re-
ceiver, to deposit with said re-
/ ceIVer a certified bank check for ten thou-
sand dollars $4,000, on some solvent
| bank or the same amount in money. Any
person depositing said sum OF ten thousand
| dollars $4,000, shall have the deposit or
| check returned to him by the receiver I'M
/ 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, ana because OF his fault in falling
/ 20 comply with the terms OF his bid. The
balance Of said purchase price shall be-
paid as follows. Within ten days after
| confirmation Of the sale to such purchas-
| er he shall pay the sum of nfty-nve thou
| sand dollars 1855 00O, 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 expira-
! ton OF three years from the date Of sale.
! the said balance bearing interest at per
| cent from date Of sale, payable semi-an-
| nually, and with the option In the pur-
chaser to pay up the entire principal at any
| time before maturity with the interest ac-
! crued to date OF payment. The said ball
ance to be secured by deposit OF collat-
eral, or by other security, which shall be
deemed satisfactory to q majority of the
board OF directors OF the said defendant
company and 70 be approved by the court
| Provided, further, that whereas the prop
critics and assets aforesaid Of the Atlantic
| Short Line Railway Company are subject
| to a liability OF thirty thousand dollars
| G3OOO0, on bond given in the superior
court Of Bibb county, Georgia, as a part
/ said property and assets by the reorganiza.
I ton committee as set forth In the bill OF
complaint and answer Of defendants, upon
which bond John K. Young, Henry J. La
Strong, Henry Rice and Sol Stein
are sureties, and which bond Is conditioned
I to pay the fnal judgments which may be-
| entered in said superior court on certaiu
| claims therein, which are contested. Now,
| If final judgment should be entered up In
said superior court on said bond before
| the expiration of said three years herein-
| before allowed for the payment OF the de-
terred purchase money, then said pur.
| chaser may be required by an order OF said
| circuit court to forthwith advances and pay
/ into court In cash the amount OF SUCH
| Judgments SO entered upon. said bond to
| be used in the payment Of such judgmentss
! and said circuit court may enforce the
| payment Of such cash installment by APP
| propriate orders; and otherwise said thir-
| " thousand dollars (S30,00O) shall be paid
( said.
dered that the receiver shall make a re-
1 port Of said sale and his actions and doy
| ings In the premises and file the same In
said circuit court within five days afteu
said sale. That within five days after the
Ming OF said report, or as soon thereafter
az practicable, the matter Of the conflrma-
ton of said sale shall be heard and deter
mined and the court shall thereupons
after giving the parties to the record in
| said cause an opportunity to be heard de-
termine in its discretion whether it 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 property
Qnd 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
Tor 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 adtourns
ment, and that IN such case IL 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 Rles having been made, should
1 fan to receive the confirmation of the
! court, then in that case the court Shall
| have power to direct a re-exposure for