The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-19
LEGAL SALES.
LEGAL SALES.
--~~~~~~--~---------~-~--
Special Masters Sale
or THE
Savannah and Western Railroad.

Savannah and Western Railroad.
Notice is hereby given that in pursuance
% a decree OF the circuit court of the
Cnlted states Tor the Middle district of
ALABAMA entered on Aug IS. 1885 in the
SUIT OF the Central Trust Company Of
New York against the Savannah and
W estern Railroad Company, and the de-
crees OF the circuit courts Of the United
states Tor the several districts hercinat-
yer mentioned In suits of the Central
trust company OF New York against The
savannah and Western Railroad COmpa-
NY to-wlt, the southern division of The
Northern district Of Alabama; the North
ern district Of Georgia. and the eastern
division Of the Southern district of GeOr-
GA; !, the subscriber. special master
merely designated, will on Saturday, the
oth DAY OF October, 1895, OF the day 90
which I may adjourn such sale, at Y
clock noon, on the mOrtgaged prem
lses, al the main freight station at Birm-
gham, in the state Of Alabama, proceed
10 oiIer al public sale TO the highest bid
der or bidders, all the railroads, prem
Uses and property, rights. privileges and
franchises by said DEGREES directed to
De sold, brief general description where
or Is as follows, viz; All the right, title
and interest OF the Savannah and West
ern Railroad Company in and TO all its
certain railroads lying and being I'm the
states OF Georgia and Alabama, includ-
ing the line of railway extending from
the town OF Meldrim, near Eden, TO the
town OF Lyons, both in the state of Geor-
gla; the line Of railway extending from
Americas Georgia, by the way OF Column
bus, Ca, TO Birmingham. Ala, and the
me OF railway from Columbus, Ca, to
Greenville, Ca, and the line of railway
from Opelika, Ala, TO Roanoke, Ala,
and from Euiaula, Ala. to ozark, Ala,
together with appurtenances; the line OF
railway extending from Griffin, Ga, 90
Carrollton, Ca, the line of railway ex-
tending from Carrollton, Ga, to the city
of Chattanooga, Ia the state of Tonnes
see, which is sold subject TO a mortgage
executed by the Chattanooga, Rome and
Columbus Railway Company TO the Cen
ral Trust Company of New York. Also
the capital stock OF the Savannah and
Ogeechee Canal Company, the canal OF
which runs from Savannah I'm IA west
erly direction to the Ogeechee river: also
what is called the River Front railroad
in Savannah, and the graded line OF road
city OF Savannah In the direction of Dub
I'm, In the state Of Georgia, and being for
merry known as the Savannah, Dublin
and Western Short Line Railway; to-
gether with all and singular the property
and assets OF said Savannah and Vest
ern Railroad Company of every kind,
real, personal or mixed, whether within
or outside Of the location of any of the
lines Of said railway, and however ac-
CURED, and all other lands station
houses, buildings, fixtures, and the
equipment, roling-stock, machinery,
tools, implements and furniture thereof
connected with or belonging to the said
lines Of railway; and also all rights, priv
ileges, franchises, leases, contracts,
chooses In action and similar property be-
longing to the said Savannah and West
ern Railroad Company, or to which II Is
In any way entitled; and also all prop
erty and material purchased or built by
the receivers for use on such railroads.
Said property will be offered as an en-
tirety and in one parcel, and struck off
TO the highest and best bidder The spec
ial master Will accept no bid for the
nrgnnTtV from bidder who shall not
place in his hands or deposit with him [
the time of making the bid, as q pledge
that such bidder will make good his bid
II accepted by the court, the sum OF 49,
900 In money or certified check, or In
bonds secured by the Consolidated mort
gage Of the Savannah and Western Rail-
road Company foreclosed in said suits,
taking the same at par Of their principal.
OF the price at which said property
shall be sold, there shall be paid m cash
at the time Of the sale the sum Of S25 600
which will be received as q part of the
purchase price. From time to time there-
after, after confirmation, such other por-
lions Of the purchase price shall be paid
in cash as the court may direct, in order
TO meet the expenses of the suits and the
payment of any preferential claims or
receivers debts. The court reserves the
and resell said premises and property
upon the failure of any purchaser for
twenty days to comply with any order
OF the court requiring payment Of the
REMAINDER OF lnG nlu OF any part kltitDlf
or any allowed receivers debt or pref
erenual claim. The balance Of the pur-
chase price not required to be paid In
cash may either be paid In cash or the
thd said balance of his bid in whole or in
part by paying over and surrendering
outstanding bonds and overdue coupons
appertaining thereto or either, said
bonds and coupons being received at such
price or value as shall be equivalent to
the amount which the holders thereof
would be entitled to receive thereon In
case the entire purchase price was paid
In cash If any bid shall be accepted by
the court and the person making the
same shall fail to comply with all the
conditions of sale and all orders of the
court with respect thereto, the sum de-
posted by the bidder shall be forfeited
and shall be applied as the court may d.
rect.
The purchaser or purchasers at such
sale shall, as part of the consideration
for such sale, take the property purchas-
ed upon the express condition that ne or
they, or his or their assigns approved by
the court, will pay off and satisfy any and
all claims filed in this cause, but only
when the court shall allow such claims
and adjudge the same to be prior in lien
to the mortgage foreclosed in said suits
and in accordance with the order or or
ders Of the court allowing such claims
and adjudging with respect thereto, and
the purchaser or purchasers or their
approved assigns will be entitled to APP
pear, resist and appeal from any and all
orders or DEGREES of the court In respect
to such claims or any Of them, and shall
have all the rights in respect TO such APP
pearance, resistance and appeals which
the complainant Central Trust Company
Of New York would have in case such APP
peals had been taken by It,
The purchaser or purchasers at said
sale shall also, as part of the eonsdera-
ton, in addition to the payment eof the
sum or sums bid, take the property pur-
chased upon the express condition that
he or they, or his or their assigns APP
proved by the court, will pay off and sat
isfy all debts or obligations incurred or
10 be incurred by the receivers having
possession Of such property, which nave
not been or shall not be paid by said re-
ceivers or otherwise, and which shall be
adiudged by the court to be debts or OBJ
liga lions properly chargeable against the
property purchased, and TO be prior or
superior to the lien Of the mortgage fore
closed in said suits.
The court reserves the right to retake
and resell said property in case of the
chasers, or his or their assigns approved
by the court as aforesaid, to comply with
any order of the court in respect to pay
ment Of prior lien claims above mention
ed within twenty days after service Of
a CODY of such order upon said purchas-
er or purchasers, or his or their assigns.
The purchaser or purchasers at said
sale are not required to assume or adopt
any leases of any railway or railways
owned or held by the defendant railway
company as lessee, but shall have the right
to elect whether or not to assume or
adopt the same or any Of them.