The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-04-29
ne DECREE SIGNED.
r~vfhern Pacific to Be Sold to
the Highest Bidder
= a.,cr,oM WITHIN SIXTY DAYS
e Loan and Trust Co. the Prob
- purchaser-Firss Recsfvers Dis
eherxsd without Ob1ectsoa.

e..ukee. Apr.1 1.-The decree ORDER
- - ale az the Northern Pacific rail-
- ana ali OF the properties % the co.a-
- uss signed by Judge Jenkins IN the
ssrsred states court this morning. The
-r,e e5sex The court the right 10 make
- u.odineatsoas he may see 1T. bath a.
:. - terras and conditions Of the sale ara
:. "a thu distribution The reservation OF
- courss gives the creditors Of the North
= Pacific. outside Of the bondholcers.
- d ard out u the reorEanizat.oa sgree-
- the right TO came tato court al any
- nd Apply for relief. which the coar.
~.ervw for itself the right to grant, ex-
.aeiaIly SsssryiEg jurisdiction for this
uspesf-
Jaaes Jenkins also signed q supvsemen-
II 1ecrss which crderz tne sale Of lands
- e the Missouri river and where held
8 Be- subject TO . iien Of the preferred
eneokhoId<rs. The lard IS TO be sold in
sercels in North Dakota Mortana. Idaho
- Washinx ton. The total indebtednexa
- ne issuance Of bonds alone By the
1rnosny In found BY the decree to b.
nu - i5S.E. This. however. does Dos In
~la,ie tne issuance of receiverg certI6-
-. the collateral trust fndenture bonds
eneups.ng 10 more than SIssoe. go and the
- interest on bonds amounting to 34s.-
r, 70. which includes the general first
mmF<TkkE Vyf4xe AIN tlfte1 1&sOE2 1lA5El
- G.Drtgagss on the Mixsouia and Pend
rlre1iIe division
~ sals Ia 70 take place In West Su-
sar3er within sixty days. unless Judge
f~eksus sees at TO Interfere In the mean
au>ctal Master Carey IL to sell the road
= hires parcels. covered by the general
sroond. the general third and the consoii-
hsAd mortgages The general second
mertsAge Ia adjudsed to be lien on the
enkirs railroad property OF the Minnesot.
Hns and subject to the seaSral FIRST mort
80 and tho Missouia and Pend d'oreille
Hv1sion mortgages. Tho third mortgage
eovsfs the property not covered By the
eso1raf second and the consolidated mort
ne. and IL secured mainly BY stocks and
Ionds. For the first parcel. the bid must
~ BE- less than SO. o.. 60 for the second
- les than s2,0e0O and for the third
nareel not less than $3i0.0oo A deposit -
= b enacted from all bidders. The court
sussrves the right TO set the sale aside.
4 special provision Is inserted. giving
- Farmers Loan and Trust Company
- right to bid IL 4 desires This leads
) The belief that the trust company viii
= ~ purchaser.
nk-Seuzior Spooner moved for an order
Nsnharginx the old receivers. Mesrs.
hyne, Cakes and Rouse. from all iiabfii-
~ On the bond. and asking that their sc-
sDuAis be approved and their oonpensa-
m 6xed Mr.. Turner. OF the Farmers
Len and Trust Company. and Col. Petit
I'D aid they had no objection. Judge
Jenkins signed this plea and took the mat
VI sf compensation under consideration.
~ soon as copies OF the decree can be
made. lawyers will Leave for the West TO
- them with all the courts along the
H.
1edge jenkins has filed an order approx
~ the report OF the Special Master Carey
= the accounts Of Messrs. Payne. Cakes
- Rouse. the original receivers of tho
lushern Pacific railway Up 10 February
4 ~ The compensation asked for to-
~ BY ex-senator Spooner for the origi-
~ receivers of the road Is not In addition
= u $500 a year allowed by the spe-
~ Master. The excess allowance viii be
egarmined by the interested parties and
abattted to the court for approval