The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-05
Central Railroad and Banking Co.
Of Georgia,
SPECIAL MASTERS SALE.

SPECIAL MASTERS SALE.
Notice is hereby given that in pursu-
ance of a decree OF the circuit court OF the
United States for the Southern district CT
Georgia, eastern division, entered on Aug.
20 1895. in the suit Of the Farmers Loan
and Trust Company against central Rail
road and Banking Company OF Georgia 81
against the Central Railroad and
Banking Company OF Georgia ct
al, consolidated cause IN equity, upon
the cross bill of the Central Trust Com
pany of New York. We, the subscribers,
special masters, thereby designated, will
on Monday. the Ith day OF October, 1888,
sale, at II o'clock noon. al the front
door of the principal passenger station
of the Central Railroad and Banking Com
pany Of Georgia, IN the, CITY ot savannah
without valuation, appralsementi redeinp-
ton or extension, to the highest bidder or
bidders, all the railroad, property, rights
and interests described IN the consoli-
dated mortgage of the Central Railroad
and Banking Company Of Georgia dated
April /. 1850, and upon which said mort
gage is lien, said railroad being descriD-
ed IN said mortgage as follows, viz:
Commencing al the Initial point OF said
line Of railroad OF SAID railroad ana Bahk-
ing company in the stY OF savannah, D
t.-N
gia, and running thence IN northeriy
and northwesterly direction through the
counties of Chatham, Efhngham, scre'eh,
Burke, Jefferson, Washington, Wilkinson,
Jones, Bibb, Monroe, Pike, Spaldng, Hen
ry. Clayton and Fulton, IN SAID state OF
Georgia, TO the terminal point OF SAID
line OF railroad in the city OF Atlanta, IN
said county of Fulton And, also, com-
mencing in the town of Gordon, in SAID
county Of Wilkinson, at connection with
the line of railroad Of said railroad ana
banking above described. anu
running thence in northerly direction
through the counties Of Wilkinson ana
Baldwin, to its terminal point IN the cry
of Milledgeville. in said county or Bald-
win; together with all the estate, righT,
title and interest Of said railroad ana
banking company OF, IN ana 10 the sald
lines OF railroad, and every part and par
eel thereof including all rights Of way,
road-bed, superstructuTe, tracks, bridges,
trestles, viaducts, side-tracks switches,
er-tanks and signalling apparatus, all
terminal facilities of every character,
Wharves. warehouses, depot grounds,
yards, stations, station houses, engine
houses, coaling stations and machine ana
repair shops, and all engines, tenders,
cars and rolling stock and tools machln-
cry, materials, supplies ana other, equip
or which il may hereafter acquire Tor use
in connection with said lines OF railroad
or either Of them.
And also all equipment, supplies and ma
terial, and all Interest and title therein,
owned by said Central Railroad and BANK
ing Company of Georgia, or purchased or
constructed by the receivers for use IN
the operation of said railroad or now
in use on such railroad system. The
same will be sold in the manner and upon
the terms hereinafter stated, viz.
The said property will be sold IN one
parcel and struck off TO the highest and
best bidder. The special masters VIII re-
ceive no bid for the property unless at
l the time Of making the bid the bidder
lsft. Haraa al NIT Ia ~
of S25 900, or consolidated bonds secured
by the said mortgage to the amount OF
$4,000 par value, OF principal, as pledge
that said bidder will make good MS BID
If upon being reported the same IS ac-
scepted by the court
OF the price for which said property
shall be sold there shall be paid In cash
at the time of the sale the sum Of $50.
coo, the amount of any cash deposit which
may have been made by the bidder at the
time OF making his bid being received a s
firmation of said sale, and from time TO
time thereafter, SUCH turther portions OF
the said purchase price SHAH be paid N
cash as the court may direct IN order 10
meet the expenses of foreclosure and sale
and allowed preferential claims. Ihe
court reserves the right TO reject any bic
and to retake possession of and resell
said premises and property upon failure
OF any purchaser, for twenty days, 70
comply with any order Of court requir-
ing further payment of such bid or any
decreed preferential claim
The balance of the purchase price not
required to be thus paid in cash may
either be paid in cash or the purchaser
may satisfy and make good said balance
of his bid, in whole or in part, by paying
over and surrendering TO the special mas
ters outstanding consolidated mortgage
bonds and overdue coupons appertaining
thereto or either; said bonds and coupons
to be received in satisfaction and payment
on such bid at such price or value as
shall be equivalent TO the amount that
the holders thereof would be entitled 20
receive thereon in case the entire pur-
chase price were paid IN cash. If any BID
shall be accepted by the court, ana the
person or persons making the same shall
fail 10 comply with all the conditions of
sale and all orders. of the court IN re-
speet thereto, the sum deposited by the
bidder shah be forfeited and SHAH be ap-
piled as the court may direct
The approved purchaser or purchasers
a said sale shall take the property
purchased subject TO the lien OF any ana
all debts, obligations and liabilities of
the receivership heretofore or hereafter
to be lawfully Incurred by or under the au-
thority OF the court. or arising OUT
of the operation of such railroad, and SUBJ
ject also 10 the lien of any and all claims
heretofore filed in said cause or in the
causes consolidated therein, which the
court has allowed and adjudged or shall
hereafter allow and adjudge TO be prior
in lien or superior in equity to the said
consolidated mortgage, ana order TO be
paid by such purchaser. The approved
purchaser or purchasers anu MS OF tnelf
assigns, shall be entitled to appear, re-
sist and take evidence on all such al
lowances and to appeal from any ana
all orders or DEGREES Of the court In re-
spect to such claims or receivers obliga-
lions, or any of them and shall have
all the rights in respect 10 any such ap-,
pearances and appeals Which the Central
Trust Company OF New York would have.
The approved purchaser or purchasers
al said sale will not be required to as
sumo OF adopt any leases executed by SAID
mortgagor corporation, but shall have the
right to elect whether OF not 70 assume
or adopt the same Of any thereof.
Upon confirmation Of said sale and COM
pletion Of the purchase by. the purchaser
or purchasers, said purchaser or pur-
chasers will be entitled to receive from the
special masters a deed or deeds Of the
property sold, and also deed or deeds
OF assurance 10 be executed according
to law by the Central Trust Company or
New York, and also by the Central Rail-
road and Banking Company Of Georgia.
The sale and the title obtained thereby
shall be subject in all things to the trl-
partite mortgages dated October /, 1872
executed to the Farmers Loan and Trust
Company, and to the provisions Of the de-
cree rendered by said court foreciosing
said tripartite mortgages, and subject 70
all the Indebtedness secured by said frf.