Phoenix weekly herald., 1897-11-04
UNION PACIFIC SOLD.
The Sale Took Place this Morn
 ing.
REORGANIZATION COMMITTEE
Bids $57, ,564.S32.76 and Get the Road and
 Bonds.

| CCOISOCs-OA'O'
 property and: S13,645, ,25089 for th
 ponds.
 OHAHA, Nov. 1.-The Union Pacif
 road proper, including the buildings sn'
 sll that goes to operate the system wa
 5his morning sold to the re-orgsnizstiol
 committee for shs sum of s53, ,528, ,532. 7f
 This amount does not include the sink | ing fund in the hands Of the govern | ment and taking this to be S4, ,036, 400
 5he amount ststed in the governmen dscree covering the sale of the road, shs
 total prics paid for the property is s57, 664 ,S32 76 There were 10 other bidders and the road went to she eFe-orgGnizatioE
 committee without opposition. The
 sale Of the road was in itself one of the | most tame and uninteresting perform I suces possible to imagine. Is was ed- veFtised to take place in fFon6 of the Union Pacific freight house at the juno bion of Ninth and Jones streets as II o'clock, and it was just one minute after that time when Master in Chan
 cery Cornish, the aucsioneeF, took his placs on the low stone step in front of she Ninth serees entrance. For over gn
 hour Bhe crowd had been wsising to
 witness the sale and with great difficulty
 Cornish could get sufficient room to en-
 able him to work.
 Cornish carried under his arm 8 large
 portfolio bound with Che regulation red
 tape and soon the crowd gave him room
 to extend his arms He untied the strings and drew forth number of
 papers. Selecting one he replaced the others snd holding it ous said, "Gsntle- men, an here to sell certain railroad properties pursuance to 8 decree of she United Ststee Circuit Court. I viii nov read description of She property to bs sold sud when have finished the rsading I will bs prepared to receive bids" He then uncolded the notice of sale, which was very long, being about four columns of agate type and read it. After reading 8 protest from Receiver Rurnbull, Cornish placsd it in ths port folio and said, 'I sm now ready to re- oeive bids for the railroad property, the description of which I have jasb read.'' There was moments silence and then General Fitzgerald said, ''I bid thiFty-l pine million, eight hundred and eighty shree thousand, tvo hundred and dollars ard eighty seven osnts, in the nams of Louis Fitzgerald and A. W. Krsoh, purchasing trustees.
 pheEe was gnothar pause and Cornish said: Are there any more bids" There were none and she Master consinued q will now receive bids for the sale of bonds the description of which I have General Fitzgerald replied: "I oid on bshaif of Louis Fitzgerald and A W KFeoh, purchasing trustees, the sum of thirteen million six hundrsd and for5y-five thousand swo hundred and ifby dollars and eighty-nine cepss." To both instances General Fitzgerald resd his bid from memorandum which be held in his hands Ia response to the lueFy: "Are there any more bids;" there was not sourd and the Muster oontin- ned: "As there are no more bids, ia clare the property of which I have just read a description. sold to Louis Fi!z- gerald and Alvin W. Krech. purchasing they having mads the highest snd only bid." That wes all to the en- ire sale and the mem bsRs of the reoF- yanizstion com mitsse and attorneys lost 10 time in getting back so the offices of ,ha Unlon Pacific road. Under the ,erms os ths sale the purchasers have ninety days in which to pey over the ,ull amount of the purchase money and that part of the Transaction will be carried ont in New York in the future.
 The mem bsrs of the committee had nothing to say after the sale was over.
 OMAHA, Nov. 2-Ths reorganization of the Union Pacific which l yesterday bought the governmens lien 1n second mortgage on the proper ty Of he Union Pacific, today purchased the iTst mortgage on tbs s8ms property by which sha construction bonds were Sc cured. The price paid was the amount 1smsd as the minimum bid $50, ,637, ,435- S The property was bought az vss the second mortgage by the psme of Louis and Alvin Krech ss purchas- ng trustees.
 This concludes the sale and as there 8 no other property to be sold she thing s finished. The report of the sale made WAS filed today in she office 1f she clerk of the United Stetss Court. The report cited that the order of sale xss issued by Judge Sanborn and in ec- ,ordance with the provisions of that or der it men tioJs that representatives of the purchasers deposited with the nsster, within the proper sime, cer- slfed check for million dol ers as gua=an le bid for the property and~ss nnafed check Kesch repfSS
 fered S39, 9,ss3
 it's franchiee
 fund
 were the only
 2sed. the
 VI
 check for s4
 fn'fiIlnent
 the master,
 day and tod