The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-05
A MORTGAGE FOR $4,000.
The Stats Newspaper Files One In PlTof
Of Virginia Trust Company
IN ORDER TO PROCURE A NEEDED RUSD.
The Mortgage the Result OF Action Tnkso
at n Meeting of the stock holders OF the
Company-The Conditions Of
the Deed.

The State Newspaper Company be-
given to the Virginia Trust Company a
mortgage for sI5,ooO which has been fled
in the clerks office Of the Chancery
Court
The deed, which was made on January
l, 1896 contains among others the fol-
lowing resolutions adopted at meet
ing of the stockholders OF the news
paper:
THE RESOLUTIONS.
Whereas IL is TO the interest OF the
State Newspaper Company TO procure a
fund to provide FOR its outstanding obb-
cations and meet the contingent needs OF
the company from time TO time:
Resolved, That in order 10 procure
this fund the president. and secretary,
and treasurer be authorized and directed
to issue i'm the name and unoer the
seal OF this corporation. bonds secured
by deed OF trust upon the plant, prop
erty, and goodwill OF THE State News
paper Company said bonds 20 aggregate
the sum OF $1,000 In denominations or
500 each. numbered from TO 10 consecu-
lively and bearing interest at the rate
OF per centum per annum, payable SEMI
January of each year. first interest pay
ment to become due on the first day
Of July, 1896, the bonds TO mature on the
first OF January, 1895, and said bonda ana
interest to be payable in gold coin OF the
United States of the present standard
OF weight and fneness.
Resolved That the president AMI sec
retary and treasurer of the company are
hereby authorized and directed TO se-
tl.o Of a4f hnIIG
terest by executing and delivering tothe
Virginia Trust Company as trustee
deed OF trust on the companys properly,
plant, and goodwill The said bonds
shall De certified by said Trust Com
pany under the said deed OF trust ana
delivered by IT TO the Board OF Direc-
tors or upon its order. The said poa'u
shall detern me upon the form OF saii
bonds and deed OF trust and the proN-
sions TO be therein contained.
After giving the form Of the bonds
TO be issued. the deed continues:
THE CONDITIONS.
Now. therefore. this deed wtnesseth.
That I'm consideration OF the premises
and OF one dollar cash In hand paid the
said party of the first part, doth grant
and convey unto the said party OF the
second part and its successors ana as
signs all Of the plant, property, ana
goodwill of the State Newspaper COM
pany. in trust, however, TO secure TO the
holder or holders thereof the punctuai
payruent by said State Newspaper Com
many OF it's aforesaid $50 bonds OF shp
each. and the interest thereon, and IL is
covenanted between the parties OF thc
9st and second part that I'm the evens
defauft snail be made in the payme,t ~
the bonds hereby secured, or any OF tnem,
or in the payment OF the interest. III shaii
80 .. ~ ~ q
part. upon the request Of the holder or
holders of such bond or bonds or any OF
them. TO sell the property OF the COM
many hereby conveyed at public auction
TO the highest bidder, and upon the fol-
lowing terms-to-wit, for cash, Dut no
sale shall be made until the time. place.
and terms thereof shall be- previously All
vertised for thirty days In one or more
newspapers published In the city OF Rich
mond in the State Of Virginia.
After the payment OF the commission
now provided by law and the principaI
and interest due on said bond or bonds,
the residue or surplus. If any. shall he
paid by said party Of the second part 70
the party OF the first part or 20 It's as
signs.
IN CASE OF DEFAULT.
The said party OF the second part cove
nants that IL will pay all assessments,
taxes. ana INSURANCE DH 0dtA B'NF''~F -"
long as IL remains In possession OF the
same.
And il H. further cOyenanted that II no
default shall be made In the payment or
said bonds and interest as they become
due and payable, then upon the SURRENDER
10 said trustee Of all OF said bonds the
same shall be cancelled by said trustee
and a good and sufficient release deed
shall be executed by said trustee. the
party of the second part, 10 the said
party of the first part, its suocessors or
assigns OF all the property and estate
OF the party OF the first part covered by
this deed OF trust
In witness whereOl. the party OF tho
first part has caused its corporate seal
10 be hereunio affixed. and these presents
10 be subscribed by It's president and at
test u by it's secretary In pursuance OF "A
resolution OF les Board Of Directors, the
day and date first above written.
The deed IS signed by W. ). Copeland,
president. and Taylor Grandy secretary
OF the State Newspaper Company.