The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-11

! TOPEKA, Kan, Dec. 10.-1he long
expected and much talked of sale of
the Atchison, Topeka & Santa Fe. rail-
road took place in this city at o'clock
today. The proceedings required but a
short time for the sale proper to be
made. Immediately thereafter Judge
Henry c. Caldwell convened the United
States court for the purpose of hearing
the report of the master in chancery,
confirming the sale and transacting
such other business as was necessary
to complete what is the largest deal in
the history of railroad sales in the
world.
The sale was made from the stairway
on the east side-of the Santa Fe depot
in this city. The steps were occupied
by representatives of the Union Trust
company, officers of the old and rev
Santa Fe companies and newspaper
men, while large crowd congregated
on the platform.
At 2 o'clock Judge J. B. Johnson,
master in chancery, announced the
proceedings which were about to take
place. He explained the preliminary
matters which led up to the receiver
| ship and subsequent order of sale is
sued by Judge Caldwell and proceeded
to read the order of sale, which was
a long, tedious job.
At the conclusion of the reading of
the notice of sale, George H. Whit
comb. of the firm of Fuller & Whit
comb, lawyers in this city, read a pro-
test against the sale taking place and
based it upon the statement that some
of the bondholderS of the st. Louis d
San Francisco claim that the control
ling interest secured in that property
by the Santa F'e was obtained by
fraud. The protest represented Pea
body, Whittridge and Todd, of Lon
don, who hold 100000 of the Frisco
bonds. The notice, in the shape of a
protest, was served on the purchasers
of the Santa Fe in order to preserve
the rights of the claimants in the event
they choose to begin further litigation
to secure what they allege is due them.
The second protest was read by
Charles z. Small, of Kansas City, a
member of the law firm of Gage, Laid
& Small. He represented A. G. Guthrie
and W. C. Howe, of Londan, who
have $269,000 bonds of the Chicago.
Santa Fe & California, the branch of
the Santa F'e between Kansas CITY
and Chicago. This is portion OF the
original issue of $14, 100000 of which all
has been surrendered by the owners
except the amount specified above.
The protests having been read, Judge
Johnson took his position as official
auctioneer and stated that he would
proceed to sell the property, which had
been described in the notice of sale.
He thereupon asked for bids upon the
property.
Edward King, president of the Union
Trust company, bid S60,OOO,OOO, and
there being no other bidders, Judge
Johnson declared the property sold to
Mr.. King, who also represented e. c.
Beaman and Victor MorawetZ. Mr..
Beaman is the counsel for the reor-
ganization committee and represents
the Dutch lbondholders. The sale con-
Guided, the officials adjourned to the
United States court room, where Judge
Caldwell convened court.
The report of Judge Johnson, as mas
ter of chancery., was submitted and
placed on file. The decree of the court
was then read and agreed to by all
parties interested.
A few minutes past 6 o'clock Judge
Caldwell in chambers at the Throop
| hotel, together with the attorneys and
officials of the company, went over the
decree to be certain that correct copies
had been made. This concluded, Judge
Caldwell signed the decree confirming
the sale. A short time afterwards he
left for st. Louis in company with Cen
q al ~! e1iie1SCt !.AO1IIii CpeCldl master
Reynolds and L. F. Walker, general
solicitor of the ST Louis & San Fran
cisco.
Though the sale had been made and
confirmed, the property sold under the
execution will not pass into the hands
of the new company until January 1.
This is merely for convenience in keep
ing the accounts of the company.
transfer at this time would necessitate
the closing OF. accounts to date and in
volve large amount of exta work