The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-19
DECREE is ENTERED

CHICAGO AMI. NORTHERN PACIFIC
SALE rs CONFIRMED.
Judge jenkins Also Extends for Another
Year the Two Millions of Receivers Ger
November Is. 1s94-Philadelphia and
Reading Directors Complete the New
Observation-Disclosures Mail Declares
. eDividend-Western Freight Affairs
Rates for Endeayorers to San Francisco
Chicago, Nov. 1S.-The sale of the Chi
cago and Northern Pacific railway was
confirmed by Judge Jenkins in the Uni
ted States court this afternoon Tne de-
cree of confirmation, agreed TO by all
parties to the litigation, relates that the
road is sold to the committee OF the pold-
holders for the sum of SS,000,000. The
decree gives the road to the purchasers,
subject TO the mortgage of the city o.
Chicago for s65O,000 and the mortgage
securing $500, goo of bonds of the Chicago
and Great Western railroad, issued III
1886.
RECEIVERS CERTIFICATES.
Milwaukee. Wis. Nov. 1S.-The $1,000
Do0 issue of receivers certificates Wnlcn
Judge Jenkins permitted the receivers
for the Wisconsin Central lines on No
vember To- 1894, to make was this morn
ing extended for another year by Judge
E " NTaN-l
Der Is, last Sunday. Holders OF certih-
Gates who are unwilling to make an ex-
tension will have the amounts of their
holdings paid upon presentation at the
offices of Maitland. Coppell & Co, Ed
ward Sweet & Co., or Brown Bros d
Co, in New York City. These three
firms placed the original issue and have
agred to handle the extension upon a
commission Of - per cent. In the
petition asking for permission TO make
the extension, the receivers for the first
time make reference to the reorganiZa-
ton committee or the reorganization,
which, the petition indicates, is moving
thong smoothly The receivers say they
have made arrangements for the semi
annual payment of interest that fell due
Sunday, but that ii is impossible TO pay
khe principal The interests of the es-
tate, the receivers say, would suffer Sc
rious detriment and the plans Of reor-
gan;za ton now under consideration
would be materially and adversely af-
fected If payment were enforced at this
time out of the collateral security. The
reorganization committee, which now
comprises Is per cent OF the first mort
gage bondholders, at a meeting in New
York on November approved of the
proposition Of the bankers in regard 10
she extensions
Receiver Morris returned from the east
yesterday. With reference to the state
.nent that the reorganization committee
was in .erested In the sale of the North
ern Pacific Mr.. Morris said so far as
he knew there was nothing to it With
regard 10 the future of the Wisconsin
Central running into Chicago, Mr. Norris
Said that UP to the present time the old
arrangements held good What ar
fangements would be made in the future
he could not say. There is little fear
however, that there Will be any interfer-
ence with the terminal arrangements
with tlts companies making use of the
Harris street station
NEW READIN DIRECTORS.
Philadelphia, Pa, Nov. 1S.-The new
board Of directors of the Philadelphia
oilN ENCnohA5 SCHtldlit u
day and completed the work of reorgan-
ization. After bylaws had been adopt
ed the following officers were elected:
First vice president, Theodore Voorhees,;
treasurer, William A. Church; Comptrol-
der, D. Jones; general solicitor, j. D.
Campbell
The board also directed the issuing of
certificates Of stock TO the amount of
f2p, 00O. 600 and executed and delivered a
bond secured by mortgage for $50, 900
BOO. The board of directors of the Read
ing Coal and Iron company met and ac-
cepted deed of conveyance from the
purchasers. Costen and Stetson, for
lands, mines and other property, &C
quired by the purchase at the foreclosure
sale on September o.
ST. JOSEPH AND GRAND ISLAND
Omaha, Neb., Nov. 1S-Notice of the
sale Of the St Joseph and Grand Island,
formerly part of the Union Pacific sys-
TEN, has been received by interested par
ties in this city from Edward Simonton
Of St Paul, special master for the prop
erty sale. The sale of the property will
take place on the mortgage premises in
the depot al Hastings. Dec %. 1t q
thought that the committee of bondhold-
ers will bid-it in. the upset price of -
purchase. as fixed by order of the court.
being sS.000,000 which is less by 81 200. 900
than the price originally fixed. This
line begins at st. Joseph. on the state
line. and runs through Kansas and Ne
braska to Grand Island. through a rich
territory and its franchise is regarded
as very valuable. Its sale was ordered
byb Judge Sanborn. of the United States
circuit court for the state of Nebraska, a
year ago. but the attorneys for the bond
holders got-ready for the sale only few
days ago.
PACIFIC MAIL DIVIDEND.
New! York. Nov. 1s.-The directors of
the Pacific Mail Steamship company, at
a meeting held today declared q divi-
dend of i per cent in cash. payable De-
cember 1. 1t cannot be definitely ascer-
taincd whether the disbursement is a
quarterly or semi-anmlal one, as il is
she first dividend that has been declared
by the company for many years. The
company is reported TO have cash on
hand amounting 10 S1150.000 and the
airectors'have authorized President Hun
kington 10 contract for the construction
Of an additional steamer.
WESTERN FREIGHT MATTERS.
C1.icago. Nov. 1S.-It is announced thar
the new Western Freight association will
have rate committee composed of Off
Gals now lower in rank than assistant
general freight agents. in addition to its
executive and administrative boards.
Just how the membership will be an
portioned among the roads has not vet
been made clear. In the Southwestern
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