The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-07

under orders OF this court since April ..
1889. up to September 3, 1925, for permanent
improvements on the property and for
bcttcrments. as set forth in the tabuatcd
statement furnished by the receiver In evil
dence before ne, marked exhibit 7, here
with filcd, and returned into court
4 ] md that $5s.Sti.H OF said net Income
has been paid out by the receiver under
orders of this court. since April G. 1889, to
pay costs In this case. attorneys fees and
other court expenses, as shown by said
tLbulated statement.
8. / further find that OF said net income
there remains In the hands of the re
celver or deposited in the registry of tho
court, the sum of s362 S55.H after deducting
said disburs .ncnis, which Ia subject to the
order of this court
At the instance OF the solicitor OF inter-
venors, Moran Brothers and Henry X.
MclIarg, | make the following additional
findings:
l. | find that ntervenor purchased the
| Waco and Northwestern division Of tho
Houston and Texas Central Railway com
pany and its lind grant under the deer ec
of foreclosure entered in consolidated
cause No. l9s on the docket OF this court,
and that such purchase was made on Sep
TENDER s. 1888, inter> enor paying therefor
s25, 900, which was paid In cash by Inter
venor at the time of his said bid.
=. l lnu tfHt u IN pIoNluth III VIC ''NiV'
of foreclosure entered In said cause No
IFS, under which the intervenor purchased,
that the sale OF the Waco and North
westcru division was sold In all things
subject to the prior lien and mortgage
given on said division by the Houston and
Texas Central Railway company on June
l6 1873, being the same mortgage declared
| on herein.
q find that intervenor did In fact pur-
tn, oil
said first mortgage. and that his said pur-
chase was duly reported to this court by
the master commissioner. and said sale
was on December 4, 1883, In all things con
nrmed by this court, and deed was there
after on the 18th day CT January, 1ss9
made by the master con missioner ana de-
Iiyercd to intervenor for said property.
L. I find that the complainant's mort
gage declared on herein, being the same
mortgage referred to above. contains the
following provision: "And In case the said
Houston and Texas Central Railway COM
pany shall fail to pay the principal, or
any part thereof, on any OF the said bonds
at any time when the Same shall become
due and payable. according 20 the tenor
thereof and for sixty days after having
been demanded, It shall be competent for
said trustee. its SUCCESSORS or assignees
to enter upon the said railway and the
premises and property herein conveyed
by It's attorneys and agents. and take
possession of the same without let or
hindrance OF the said first party, and
every part and parcel thereof and the
appurtenances and appoint an agent 10
operate and manage the same. and re-
ceiye the revenue and income thereof, APP
plying the said fund after deducting taxes.
necessary expenses ard counsel fees TO
keep the same In good order and repair
and the surplus 10 pay the Interest and
principaI of all the bonds which may be
due and outstanding. and secured thereby.
pro rata and thereafter to the payment
OF any contributions due TO the sinking
fund herein established. And upon the
request of tho holders OF one-fiftli In
amount of the bonds 30 In default, which
may be at any time outstanding under
this deed OF trust. 1t shall be the duty OF
said second party, by Its president or
agent duly appointed In Its behalf to
enter upon and take actual possession
with or without entry or foreclosure of
said railway and property herein describ-
ed. and all and singular each and every
mart and parcel thereof. and assume its
managemont until the arrears OF both
principal and interest be paid. or the prop
crty sold az herein prescribed, receiving
ihe rents revenues and income thereof,
and applying them In the same manner
ms above stated"
All of which Is respectfully submitted,
VIM. l.. Prather.
al