The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-06
DISPOSAL OF THE ASSETS.
PARDEE's ORDER TRANSFERRING
CENTRAL n. n. PROPERTY.

IhnN lie VIII Appear FROM the Or
der-The Transfer of the Property
Specified in the order Likely TO
Take Place TO-day-The Specific
Claims for which the Court Re-
tanned a Portion of the sum.
II is probable that the transfer OF the
cash assets in the hands Of Receivers II.
NJ. Conner and r. Somers Hayes Of the
Central Railroad and Banking Company
10 Messrs. Thomas and Ryan. purchas-
ers. will take place to-day.
The attorneys who appeared be-
fore Judge Pardee in New Orleans
with reference TO the matter re-
turned to the city yesterday. In
granting the order with regard
10 these assets and discharging the re-
ceivers Judge Pardee stated that in case
an appeal should be taken by any client
represented by Mr.. Charles y. West or
Judge A. H. MacDonell the appeal bond
shall be In the sum Of s. 100. upon comply
ing with which the order would be SUI
perceded. The attorneys Interested were
given ten days within which to file an ap-
peal to the circuit court OF appeals.
Mr.. West in behalf of the clients repre-
scented by him, served a notice of his in
tention to appeal from the order on
Messrs. Lawton & Cunningham yester-
day. This notice, however, will not inter-
fere with the terms of the order being
carried out at present, the attorneys
state.
With reference to The statement that a
large amount Of money and other property
was included under the omnibus clause Of
the advertisement under which the over
flow property was sold here Tuesday. the
attorneys interested say it is folly to talk
Of cash being sold at such a sale They
say they did not know whether that
clause really included anything or not, but
II was put in so that everything might be
| covered IN case anything was left out in
the other advertisements. If there are OBJ
Jectons to the sale of this property on any
srounds they can be made before the
has been granted.
The order granted by Judge Pardee on
the petition OF Messrs. Thomas and Ryan
was nled in the United States court here
yesterday. 1t explains itself and shows
JUST what the court granted those who
made the petition and the counter-re-
| quests; The order in fun is as follows;
emitting Of course. the legal heading with
regard to the consolidated causes in equi-
Come, now, Samuel Thomas and Thorn
as Il. Ryan, purchasers and holders OF
the entire issue of consolidated bonds de-
scribed in the decree of foreclosure en-
cross bill filed by the Central Trust Com
pany, and file their petition duly verified
showing the different liens and claims
held by them against the defendant rail-
road company, and that the debts and
obligations of the receivers i'm this cause
! have been to a large extent discharged
ana onering to close up and determine
the said trust by accepting a present
transfer of all cash, credits, property and
assets now in the hands Of such receiv-
ers, on condition that the petitioners shall
pay and discharge all the just debts and
liabilities Of the said receivers and all
costs and expenses of foreclosure, and
all allowances and preferential claims,
and come also the receivers and the
Central Trust Company, John S. Tilney,
the. Eatonton Branch Railroad Company
and other intervenors by Messrs {. n.
West and A. II. MacDonell, their coun-
sci.
Upon consideration of the said petit
ton and the matters therein contained,
| IL is therefore ordered, adjudged and de-
creed by the court:
II. That the special masters. out of the
money in their hands arising from the
| proceeds of sale of the railroad and other
| property under the foreclosure decree of
Aug. 26, 1895, are hereby authorized and
directed to pay to the Central Trust Com
| pany of New York, or its solicitors, the
! sum of thirty-five thousand dollars $685.,
! 600 on account of compensation, expenses
and disbursements for itself and solicitors
in the performance of its trust under the
said consolidated mortgage foreclosed in
this cause.
| as receivers of the Central Railroad and
| Banking Company of Georgia, and of the
Ocean Steamship Company, and of the
New England and Savannah Steamship
| Company and Savannah and Atlantic
| Railway Company, are hereby authorized
and directed forthwith by all necessary
| and proper assignments, writings and
| acts, to transfer, set over and deliver TN
| TO Said Samuel Thomas and Thomas +.
creditors. or such agent as they shall des-
| ignate, all and singular the cash, bank
| deposits, credits, accounts, claims
! chooses in action, assets, rights, property
| and interests of every kind of the Cen
| trail Railroad and Banking Company Of
Georgia Qncluding all the assets of its
| so-called banking Department. and also
| all the cash, bank deposits, credits, ac-
| counts. claims, chooses in action, assets
and property, Of the Ocean Steamship
/ Savannah Steamship Company and Sa-
/ Vannah and Atlantic Railway Company
which are now in their possession or I'M
| der their control as such receivers, ex-
| cept so much thereof as is hereinafter
| expressly reserved in the registry of the
| court This order, however. shall not be
| construed to embrace or authorize the as
| signment or delivery of possession of any
real estate, personal property, or assets
| specified in and directed to be sold by
| Special Master Leaken by the decree OF
lthis court rendered Oct 49, 1895, and a
supplemental order OF this date. 1t be-
| ing the true intent and meaning of this
order to entirely relieve the said receiv-
| erS of the title, possession and control
| OF anu lldDlIllN lOF, all the
cash, bank deposits, accounts,
chooses in action, credits and assets,
Of said railroad and steamship companies
which are now in their possession or sub
ject to their control and to transfer to
| and vest in the said Samuel Thomas and
Thomas f. Ryan Subject, however, to all
| the outstanding cost, expenses and unpaid
obligations of said receivers, allowances
| and preferential claims), the full title to
all such cash, bank deposits, accounts,
| chooses in action, credits and assets hereby
| ordered to be delivered over to the said
| Thomas and Ryan by the said receivers,
and from and after the assignment, trans
fer and delivery of all such cash. credits
and assets, now in their possession or un-
| der their control made in execution of this
order and their report thereof placed on
| file with their final accounts, the said H
| NJ. Conner and r. Somers Hayes shall be
| and thereafter remain, fully and forever
discharged and released from all further
| accounting or liability of any kind
| whatsoever by reason of their an
pointment as receivers in this consoii-
! dated cause, and the clerk of this court
| shall cancel their official bonds, executed
| by such receivers and their sureties and
return the same to the said Conner and
| Hayes, respectively, but such discharge of