Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-01-08
c. E. DOWNS INTERVENTION
In Farmcrs'Loan and Trust Company
VS.. Houston and Texas Central. y
REPORT OF MASTER IN cHANcERY
Five Findings on Questions OF Receipts
and EApcndi ures. aud -Four
On The SAFE.

Snitcu Stcics court FOR the Eastern dis.
tfict of Texas. the masters repor, OH pc
uuon OF George L. Downs, iniervenor In
the Farmers Loan and Trust company
trustee. vs. the liorston and Texas Cen.
tiai hallway company ct al, No. ",
equity. was today fled:
intervention Of George u. Downs, filed
herein on October %. 1896. Masters No
oy, Findings OF fact by Special Master
VIM. l.. Prnther en- reference 10 him OF
the above intervention
10 the Honorable Judges OF Said Court:
George IL. Downs, Interviewer, filed his
petition herein on October go 1886 and
the same was referred to the master by
order dated October 20, 1896. with dlreo.
lions TO examine into the matter and lind
ana report TO the court the facts MS spe-
eially prayed In said petition, leave being
granted at the same time to complainant
and other parties in interest to plead to
snid petition within thirty days from the
date of said order and the master being
directed to flo his report In said refer
enoe on or before the first Monday In jan
uary. 1896.
ON November 70, 1896. tho lntervenors.
Moran Brothers and Henry X. McIlnrg,
filed their answer % tho petition OF Geo.
H. Downs before the master, and on No
venber 70, 1895, the complainant filed It's
answer to said petition WITH tho clerk Of
this court, and the same was filed be fore
the master November ~, 1895.
After notice duly extended to all par
ties In interest said reference came on to
he heard at the United States court room
In Galveston on Deceu Dor T. 1sA5, when ARD
where appeared William Grant, Esq. -.
licitor for Interviewer, NJ. r, Mott. Eco,
solicitor for complainant, and l.. W.
Cnmpbcn, Esq. solicitor for Motun
Brothers and Henry X McITarg.
The evidence was henrd In part at Gnl-
weston on December 4. 1895 and by agree.
ment OF all parties the hearing was nd.
jounod TO Houston. Texas, where on Dc
oember :. 1896 said hearing was concluded
/ file herewith the pleadings OF tho par
ties. the list of he evidence introduced,
and a memorandum of the hearing mt
Galveston md Houston.
Upon consideration of the pleadinps OF
the parties and the evidence. | submit the
following as my conclusions of fact;
/, fad that the evidence fails 10 show
sny net earnings arising from the opera
tlon Of The Waco and Northwestern dlvls-
ion of the Houston and Texas Central
Railway company from the dutc of the
intervcnor's purchase of said division on
September S. 1855. to the filing OF tho bill
in this cause ON April G, 1889, aud 1t fails
to show that either OF tho receivers In this
cause have eyer come into possession or
said division during said period
?. find that the earnings arising from
the operation OF the said Waco and North
western railway from April 6. 1850, the dat.
Of the filing OF the bill In this cause. to
September .. 1895. the date OF the sale,
amount to 8l,e02.5l. Included In said
nmount Is so, 997.Od net land receipts, The
gross amount OF land receipts is s3S.5O923
of which Alfred Abeel received SG,Ss357
frorn Charles Dillingham;, former receiver.
and Of which said gross amount there
was derived as rent from land leases the
aum Of si3.9357i and from interest on land
deposited the sum Of s6G7.&. and from
land notes the sum OF SD i2f.S3, and from
interest on lend notes tho sum Of t2q7iia.
nrd from land notes and interes, since
March s, 1886. the date Of tho final decree
the sum OF Sl2i.23. There has been paid
out of snld gross amount OF land receipts
taxes to the amount OF 81, S3go7, and for
general land expenses the sum Of Sig72 20
3. / find that Sl6.5p5.i0 OF said net In
come has been paid cut by the receiver
under orders OF this court since April g.
1859, up 10 September 3, 1896 for permanent
improvements on the property and for
betterments, ne set forth IN the tabulntcd
statement furnished bv the receiver In evil
1enco before ne. marked exhibit n, here
with flied, and returned into court.
( find that s52.Nfi.7t Of said net Income
has beer paid out by the receiver under
orders OF this court since April G. lsS1 10
pay costs in this case, attorneys fees and
other court expenses, as shown by said
tLbulated statement.
D. / further find TINT Of snid net INCOME
there remains in the hands Of the re
ceiver. or dnuosltc1 In the registry Of the
court the sum OF s3G9 1851 inter dednctine
said Disbursements, which IL subject TO the
order ~ this court.
At the instance Of the solicitor OF inter-
vennrs, Moran Brothers md Henrv X
McIIarg, / make the following additional
findings.
l. find that ntervenor purchased tho
Waco and Northwestern division Of the
Houston and Texas Central Railway com
pany and It's land grant under the decree
OF foreclosure entered in consolidated
cause No. los on the docket or this court.
and that such purchase was made on Sep
tember S, 1855, inter- enor paying therefor
$4,000. which was paid In cash by inter
veuor at the time Of his said bid.
. find that II Is provided In the decree
Of foreclosure entered In said cause No,
lHs, under which the ntervencr purchased
that the salo OF the Waco and North
western 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
10. 1873. being the same mortgage declared
on herein.
2 find that intervenor did In fact pur-
chnse snid Rad In all things subject to
said first mortglge ind that his said pur-
chase was duly reported TO this court by
the master commissioner. and said sale
was on December 4. 1855 In all things con-
tlrmed by this court, and deed was there
after on the 18th dny Ct january. 1864.
made by the master con missioner and de-
livercd TO intcrvenor for said property.
s. find that tho cOmplninant's mort
gpge declared on herein, beine the same
mortgage referred TO ahnve contains the
following proviaioni And In ease the said
Houston and Texas Central Railway COM
pany shnll fail to pav the rrinrinal. mr.
any part thereof on any OF the said bonds
at any time when the same shall become
due and PAYABLE. according TO the tenor
thereof, and for sixty days after having
been demanded. II shall be- competent for
said trustee. its successors or assieneez.
premises and property herein conveyed.
by its attorneys and ageris, and take
p6ssersion OF the same without let or
hindranre OF the said first marty. ana
every part and parcel thereof and the
nppurtennnces, and aproint an agent 20
operate and manage the same. and fe-
ceve tho revenue aud income thereof an
plying the said FUND after aeduetlnr taxes.
nceessary eypepses ard counset fees to
keep the same In good order and repalr
and the surpItis 10 pav the interest ard
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