The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-29
LEGAL SALES.
RECEIVERS SALE
OF THE ASSETS OF THE ATLANTIC
SHORT LINE RAILWAY COM
IL

Atlantic short Line Railway COMPANY. de-
/ iendant rendered on the 18th day OF May,
/ states for the Eastern division Of the
/ Southern district OF Georgia / will 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.
nances, tracks ana rails, including bars.
nuts. spikes, crosstles, switches, side.
singular, everything appurtenant to the
/ 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 SoflSee, belonging
/ 70 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
OF Georgia under the laws thereof. at
public auction TO the highest bidder or
bidders before the court house door Of the
United states courts, at the usual place
/ OF the United STATES marshars sales for
| the Eastern division OF the Southern dis
| TWELFTH DAY OF JUNE next, between
| tho hours OF 10 a IN. and , p. m.
l viii first expose all OF the aforesaid
company for sale at public cutlery as
/ aforesaid upon the following terms, that
| - 10 say No bid to be received for less
| THAI the minimum amount OF two hum
/ dred thousand dollars ts2O0.OOD 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 Nl00OO. or the same
/ amount In cash. Any person depositing
/ said sum Of ten thousand dollars $40 OO0l
/ shall have the deposit or check returned
to him by the receiver without, deduc-
| tion la 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 ana because OF his
/ r0mnlW
| 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
| iide liens and debts OF the Atlantic Short
1 Line Railway Company which are enti-
4 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 the
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
/ 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 terms5
\ No bid TO be received for a less amounG
/ than two hundred and hfty-nve thous-
i and dollars $3.50. OO0) Tho highest bidder
/ shall be required Immediately upon the
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 (SlOOOO, shall have the deposit or
check returned 70 MIN by the receiver IN
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
err he shall pay the sum of fifty-fve thou-
sand dollars (S55,OOO), In cash, which shall
include the ten thousand dollars Cl0,000n
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 sales
the said balance bearing interest at PED
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 collat1
deemed satisfactory TO majority of the
board of directors OF the said defendane
company and to be approved by the court}
Provided, further, that whereas, the prop3
critics and assets aforesaid Of the Atlantic
Short Line Railway Company are subjecH
O. a liability of thirty thousand dollars
court OF Bib county, Georgia, as a pard
Of the consideration OF the purchase Of the
said property and assets by the reorganiza-
ton committee as set forth in the bill Of
complaint and answer of defendants, upon
which bond John X. Young Henry j. La
mar strGDo Sri 1orrv F. p,oo Hanson w. Z.
are sureties, and which bond is conditioned
70 pay the fnal judgments which may be
entered In said superior court on certain
claims therein, which are contested. Now.
II 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-
ferred purchase money, then said pur4
chaser may be required by an order Of said
circuit court to forthwith advance and paN
into court In cash the amount of such
judgments so entered. upon, said bond to
be used In the payment Of such judgments.
ana said circuit court may enforce the
payment of such cash installment by APP
propriate orders; and otherwise said thirs
ty thousand dollars $780, 600, shall be paid
at the expiration of three years as afore@
said.
BY the terms of said decree it was or.
dered that the receiver. shall make a re3
port Of said sale and his actions and dos
ings in the premises and file the same in
said circuit court within five days after
said sale. That within five days after the
Ming 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 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.
Their ordered that should the court on or
before the day of the sale Of said propertv
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 IL was fur
ther ordered and decreed that should the
sales hereinbefore first ordered to he
made and said adjourned sales, or either
Of them, fail to be made after due adver-
tisement as hereinbefore provided ana
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 times
as may seem best to it,
JOHN r. YOUNG. Receiver