The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1895-01-24
THE 0. P. SALE CONFIRMED.
Bonner & Hammond Took Pos
session of the Property on
Saturday. The Case
May be Appealed.

An old saying, ''The third time is the
charm, has proven true with reference tc
the Oregon Pacific sales. Although offered
by the sheriff at eight different times, only
three bids have been made. The last one,
made Dec. 22nd, by Bonner & Hammond,
was accepted last Saturday by Judge Full.
lerton. January 4th the court convened 10
special session, at which time objections to
confirmation were presented. Final action
in the matter was then postponed until Jan.
uary 10Th. at the earnest solicitation Of
Attorney Wallis Nash, representing syn.
dictate of English capitalists who proposed to
deposit $4,000 with the court as guaran.
tee that $500, 600 or more would be offered
| was offered Mr. Nash confidently expected
| to be in a position to make the necessary
| deposit last Saturday, but owing to brief
| time and severe storms on the Atlantic,
which delayed the mails, no was unable to
do SO.
Objections to confirmation were filed by
Attorneys Nash and Watson alleging princi-
pally inadequacy of price. Judge Burnett,
on behalf of the purchasers, argued forcibly
against thsir right to file objections, claim
ing thas the time for SO doing had elapsed.
The court, however, allowed the objections
to be filed and read the following kilograms
that day received from parties in Now
York:
exon. Judge Fullerton, Corvallis: Re-
sale, associates offer upwards $500, 900 for
Oregon Pacific.
(Signed) SAMUEL r. NOLAN"
Another, signed Thomas White, Brook
lyn, N. Y, read:
stHolding Oregon Pacific bonds to large
amount, 1 trust the court will not extin :
guish all hope Of any recovery by confirm
ing the sale of the road at the nominal price
of SlOO, 900, for tho emolument of greedy
spectators aud the impoverishment of hon.
est investors"
The third one was signed by Butler,
Stillman, StilIman & Hubbard, and read:
"Just received for holders receivers Ger
tificates of Oregon Pacific railroad company
issued under order of your court of Oct. IS.
1890, our client, London, Liverpool & Globe
Insurance Company, has just learned road
sold and that order confirmation to be asked
today, without providing protection TO
these certificates. Usual practice in order
of railroad sale is to make upset price to
cover courts expenses, including receivers
certificate. If sale order here did not so
provide, We respectfully ask confirmation
be refused or adjourned sufficiently to en-
able holders certificates to oppose eonfrma.
tion. Order makes them first lien and we
ask that they be protected by court or
SALE"
These telegrams nor the earnest pleadings
of attorneys against confirmation ap-
parently had no effect with the court. He
seemed to fully realize the situation and
felt that further delay might bring disas-
ter. In concluding his remarks, the judge
stated that: "Mr. Clark, the receiver, hao
informed me that the road will no longer
pay running expenses and that during the
month of December it had run behind.
While there may be something in the objec-
tions just fled, / do not think it would be
advisable to postpone the order of confir.
nation or order resale, and will therefore
order the sale to Bonner & Hammond con-
frmed." With this announcement, which
divorced the road from the courts control,
the Judge breathed a sigh of relief and
brought forth a round of applause from the
numerous spectators.
Steps were at once taken to appeal the
case to the supreme court and notice of ap.
essed during the afternoon. There are two
notices The first is signed by g. c.
Hogue, Jim Westfall, III. F. Merrill and G.
O. Hogue, trustee, with Kelley and Curl,
attorneys; the second notice is signed by
The Durham, Carrigan, Hayden Co., STAN
ford Bennett, E. c. McShane, e. F. Cleary,
Thomas Pavy. w. III. Hoag and Wallis
Nash, with Wallis Nash, attorney.
Whether it is the intention of these parties
to actually carry the matter to the supreme
court is 3 matter of conjecture. Some sx-
press the opinion that this action was taken
solely in the hopes Of dsterring Judge Full.
lerton from confirming the sale, as the no.
tices were really served before his decision
was announced, while others maintain
they have good case and expect to appeal.
AS the appellants will have everything to
gain and will be out only the costs, it is
very probable that the end is not yet. It
is generally supposed that if the appeal is
taken no attempt will be made to ''stay
proceedings" as such course would neces.
state the giving of large indemnity bond,
while, otherwise, only small bond suffi-
Gent to cover costs will be necessary
The Oregon Pacific went into the hands of
the court October 26, 1890. During this
time Colonel T. Egenton Hogg, E. w. Had
ley and Charles Clark have presided over
the destinies of the property with varying
success. Eight different times it has been
offered for sale by the sheriff and only three
bids made. At no sale was there any com.
petition in the bidding. Colonel Hogg bid
| 81 ZOO, 600, and failing to complete the pur-
chase, forfeited S25, 5000 and the sale was set
aside. The Blair. Wharton faction bid
5000, 900 and the sale was set aside. Lastly,
Bonner Hammond took the road for
100000 The proceeds of the sale will be
applied, first, to the court expenses, which
are estimated at SIS, 600; next, to the pay
ment of delinquent taxes, aggregating in