The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-12-02

gage and one each for~the Utah South
ern general mortgage and the Utah
Southern extension. Two of the de-
crees were entered in the morning and
the third in the afternoon and in the
evening Receiver Mink and attorneys
IN the case left for their homes.
THE DEGREES
I The three decreesA are similarly
worded and cover the same general
terms. 1t is adjudged and decreed that
the Oregon Short Line and titan
Northern Railway company must,
within five DAYS after the entering OF
the DEGREES, pay to the clerk of the led
eral court the amount embraced IN the
three DEGREES, or the sum total or Sl9,-
$50, 8SS.5S. 1t is further adjudged that
in the event of the comDanv's failure
to do so, the properties of all the lines
embraced in the system shall be sold at
public auction to the highest bidder,
the payment to be in lawful money OF
the United States. with interest there
on srom the date of the entry of the
decree 70 the date of payment.
SPECIAL MASTER APPOINTED.
In the DEGREES, a special master is
provided for, to take charge of the
property covered by the mortgages,
upon the failure of the company to
make the payments enumerated. Judge
Sanborn appointed Hon. William d.
Cornish of st. Paul as such special
master and in the DEGREES directs him
to take charge of the property at the
expiration of five days and to proceed
to sell the same at public auction.
without valuation, appraiSement or re-
demption after the following manner:
He must give notice of the sale by ad-
vertising in two papers in the state,
describing briefly the property sold. the
terms of the decree, the time and
place atfWhich the sale is to be made
and the terms and conditions upon
which il is 70 be conducted. The adj
vertisement must appear once a week
IN each of the two papers for four
weeks prior to the sale and the first
publication must be made at least 80
Gays before the sale occurs. The place
fixed for the sale to be made is at the
passenger depot of the Oregon Short
Lire q Utah Northern Railway COM
pany in Salt Lake City. The date and
all other particulars are left to the
discretion of the special master. eX-
cept that he shall accept no bid for
the property that is not approximately
twO-thirds of the total Indebtedness,
nor from any bidder who does not ac-
company his bid with $4,000 in cash
or a certified check upon any national
bank or trust company in New York,
Boston or Salt Lake cities, and, that
he shall not sell the properties of the
lines affected, except in their entirety,
it being adsudged that the properties
ale so situated that they cannot be
sold in parcels without great injury to
the parties in interest.
1t is further decreed that the pur-
chaser or purchasers shall have the
right to- elect within 30 days after the
confirmation of the sale, which of the
leases or contracts owned or held by
-c inc G. fol
ern company, and which have refer
ence to the property covered by the
mortgage of the Utah Southern EXten-
sion, said purchasers desire to assume,
or whether or not they will assume any
of such leases or contracts. The pur-
chaserS must accent the property sub
ject to any Indebtedness or liabilities
incurred by the defendant company in
the operation of the property covered
by the general mortgage prior to the
appointment of the receivers and there
fore prior to the lien of the mort
cages foreclosed. In the event of the
purchasers refusing to pay any demand
for such Indebtedness, the claimant is
given the usual recourse at law.
Upon the confirmation of the sale
by the court, the special master must
deliver Il deed of conveyance of the
property to the purchasers and the de-
PENDANT company must join the special
master in the issuance of such deed.
The funds arising from the sale are
to be applied as follows: To the pay
ment of the expenses incurred in the
suits, to the payment of the expenses
OF the receivers remaining unpaid if
such there be, and the remainder to the
liquidation Of the mortgages, and it is
ordered that the expenses of the re-
ceivers incurred in the operation of
the lines court costs, attorneys fees
and other expenses Of litigation, shall
rest as a prior lien to the mortgages
under which the foreclosure is made.