The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-12
LEGAL SALES.
RECEIVERS SALE
OF THE ASSETS OF THE ATLANTIC
SHORT LINE RAILWAY COM
pANX

Baek OF New York. cdfnplainant vs.. Tho
Atlantic Short Line Railway Company. de-
1886. by the circuit court OF the United
states Tor the Eastern division OF the
southern district OF Georgia, viii sell
as an entirety and in one parcel without
valuation. appraisement. redemption or
extension the railroad OF the Atlantic
short Line Railway Company within the
state Of Georgia. including the roadbed-
rlght-ot-wayt easements and appurte-
nances, tracks and rails. including bars.
nuts, spikes, crossties, switches. side
tracks. viaducts. bridges and, all and
singular. everything appurtenant to tho
same and belonging thereto, box cars and
hat 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 At
lantic short Line Railway Company, for
the operation OF a railroad In the state
or Georgia under the laws thereof, az
public auction 10 the highest bidder OF
bidders before the court house door OF the
United States courts. at the usual place
OF the United States marshafs sales for
the Eastern division OF the Southern dis
trict Of Georgia, at Savannah on tho
TWELFTH DAY OF JUNE next, between
tho hours of 10 m. and p. m.
l Will nrst expose all OF the aforesaid
property and assets Of the defendant
company for sale at public cutlery as
Aforesaid upon the following terms, that
Is to say: No bid TO be received for less
than the minimum amount OF two hum
dred thousand dollars G2O0OOO In cashs
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 CSl0OooI
shall have the deposit or check returned
TO him by the receiver without deduc-
tiOn in the event the bid accepted by the
receiver Is not confirmed by the COURT
unless the property Is resold at the ex-
pense of said bidder and because OF his
fault in failing 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 %
the sale by the court, provided that tbs
purchaser. IL he controls any OF the bona
iide liens and debts OF the Atlantic Short
Line Railway Company which are enti@
tied to participate "a the proceeds OF the
sale aforesaid shall have the privilege
of turning In said liens and debts at theit
pro rata value as part payment OF the
said balance of said purchase money Ia
the extent Of the said pro rata values.
And the said receiver. Immediately
after he shall have 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
No bid to be received for a less amount
than two hundred and hfty-hve thous-
and dollars (S255, OOO The highest bidder
shau be reoMired lfnmediafelv mon ~
acceptance of his bid by the said re-
ceiver, to deposit with said re,
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 Of
check returned to him by the receiver in
tho event the bid accepted by the receiyaF
Is not confirmed by the court. unless said
property is resold at the expense OF said
bidder, and because OF his fault In falling
to 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 purchase
er he shall pay the sum OF ffty-hve thou
sand dollars (S55.0O0) In cash, which shall
include the ten thousand dollars (SiOOOOl
which shall have been already deposited
as aforesaid the balance Of said purchase
price shall be paid on or before the explra-
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 bal
ance to be secured by deposit OF collat-
eral, or by other security, which shall be-
deemed satisfactory to 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
t$3O,W0), on bond given In the superior
court OF BIB county, Georgia, as part
said property and assets by the reorganiza-
ton committee as set forth in the bill oe
compliant ana answer OF defendants, upon
which bond John n. Young. Henry j. Lac
S strGns. Henry Rice Hanson and Sol steIS
are sureties, and which bond Is conditioned
to pay the final Judgments which may be-
entered in said superior court on certain
claims therein, which are contested. Now.
II hnal judgment should be entered up ID
said superior court on said bond before
the expiration of said three years herein-
before allowed for the payment Of the de-
ferred purchase money, then said puIr-
chaser may be required by an order Of said
circuit court to forthwith advance and pay
into court In cash the amount Of such
judgments so entered upon. said bond to
be used In the payment of such Judgments.
and said circuit court may enforce the
payment of such cash installment by APP
propriate orders; and otherwise said thir.
ty thousand dollars (s30,0OO, shall be paid
at the expiration of three years as afore-
BY the terms OF said decree II 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 tha
filing Of said report, or as soon thereafter
as 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 to the record IN
said cause an opportunity to be heard. de-
termine in its discretion whether IL 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 or said decree Ii was fur
ther 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 postponemene
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 advertise said adjourned sala
unless specially directed by the court
BY the terms of said decree II was fur
Their ordered and decreed that should tho
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 advertisement and at such timea
as may seem best to 1t.
JOHN r. YOUNG, Receiver.
LEGAL NOTICES.