The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-16

T,oarehaser. has been fully completed.
Judge Jenkins having entered an order
in the United States court confirming the
action OF Master Cary in executing the
deeds transferring the property ana
sanctioning the disposition of the pro-
ceeds as made by the master This -
the last act in the disposition of the
property, but it will be years and years
before the court is done with the hlga-
ton, which bids fair to outrival Dick.
ems celebrated suit Of Jarndyce vs. Jarn-
dyce; at least the lawyers say So
The order Of the court is founded on
the report Of Master Cary. The three
parcels in which the property was SOLD
brought SIS los, 200 nominally. but no one
will ever know the exact amount enat
the company was and will be Obliged 10
assume in complying with the conditions
of the decree Outside of this amount the
company. il appears. has paid s44o,5o9
into court to satisfy the bondholders VINO
did not come into the Reorganization
scheme. Outside OF this sum the new
company paid all the expense o.
Master Cary in connection with the sale.
So far as the purchase price as repre-
sented by the bid goes, the new company
was not obliged TO pay one penny in casn
but instead il has turned over bonds at
par value with interest added. 10 the
amount Of ss6,s72, so91. OF this amount
s21, 1O4, ss0.91 represents the unpaid inter-
est. These bonds have been stamped as
| partly paid and returned All but the
| holders OF sl3S.0o0 Of the general second
mortgage bonds came into the reorgan-
ization agreement, the holders or sloo.
900 OF the general third mortgage bonds
and the holders of 1919 900 OF copsolidat-
ed mortgage bonds and the hoAers OF
collateral trust note. and II is for the
benefit Of the holders of this amount thai
the company has 2 lid s4405oO into court.
| The bonds were examined by the master
and the amount they were receiVaole al
STAMPED on the face as partly paid and
! then all were returned again TO the new
company. For the balance, that unpaid,
| tfecompany has put in its claim 10 go
with the other creditors of the Northern
Pacific Railroad company and to share
with them IL anything remains out of the
| land in Dakota and described as the
lands east Of the Missouri river.
The general second mortgage bonds, OF
| 8, 900 par value. were credited al
| $500. 231a and with $40. 33 for interest. The
| general third mortgage bonds were re-
| ceived at s4424 per bond of $1,000. with
| interest included. and the consolidated
bonds were received at 1923 per bond
/ of 81. 900.
Judge Jenkins. in the order confirming
| the report, finds that the new company
| has fully satisfied the amount Of its bids
and DEGREES. that there remains unpaid
upon the bonds which it holds the sum
of SIS, 257. 1901. together with Interest
dating from July 81. 1895. This amour;
| has been fled as claim against the
lands. In confirming the report the court
again reserved the right 10 enforce th3
| DEGREES at all times, with respect 10
all unsettled matters. whether of claims
costs, expenses, compensation, ellowanc-
cs or disbursements which should have
been but may not have been paid ou'
of the purchase price, by enforcing pay
ment thereof out OF the property pur-
chased"