Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-02

ing its nature, began to read. 1t was
protest from Managing Receiver
Trumbull, of the Union Pacific, Denver
and Gulf road, against the sale with
the other Union Pacific properties of
the Cheyenne and Northern road, and
the line that is claimed by both the
Denver and Gulf and Union Pacific.
After reading this notice Mr. Cornish
placed it in the portfolio, and said:
Il am now ready to receive bids for
the property of the description | have
just read
There was a moments silence, and
then General Fitzgerald said:
Il bid $50 1855, 2S1.s7, in the name of
Louis Fitzgerald and A. w. Kroch,
, purchasing trustees
There was another pause, and Mr..
Cornish said:
Are there any more bids?'
There was none, and the master con-
tinued:
Il will now receive bids for the sale
of the bonds of the description which
| have read"
Gen. Fitzgerald replied;
Il bid in behalf of Louis Fitzgerald
and A. w. Kroch, purchasing trus-
tees. the sum of s13,645, 250.S9."
r In both instances, Gen. Fitzgerald
read his bid from a memorandum
which he had in his hands. Mr.. Cor
nish opened his mouth to say Are
there any more bids?" when a voice
from the crowd called loudly: Wait a
moment Mr.. Cornish. What are the
amounts of these bids?-I cannot hear.
them" and General John G. Gown,
the government attorney.
PUSHED HIS WAY THROUGH
the crowd with great difficulty. He
had been standing about ten feet from
Mr.. Cornish and he had been unable
to hear the announcement of the bids,
SO low had been the voice of Gen.
Fitzgerald as he made them and the
voice of Mr.. Cornish as he repeated
them.
The sale stopped for a moment as
General Gown struggled through the
crowd to the side of Mr.. Cornish. Ea
was shown the amount of the bonds
on the memorandum held by General
Fitzgerald and made a note of them.
He then turned away and Mr.. Cornish
again opened his mouth to say Are
there any more bids?' aud this time
he succeeded in getting them out.
There was not a sound, ana the mas
ter continued: AS there are no more
bids. | declare the property of which
have lust read the description, sold to
Louis Fitzgerald and Alvin W. Keen,
purchasing trustee they having made
the highest bid and the only bid"
That was all taore was to the end
of the sale, and the members OF tie
reorganization committee and their
attorneys lost no time in getting lack
to the offices of the Union Pacific road,
for the wind blew hard and it was
cold out there where the auction took
place.
Under the terms of sale, the purchas-
ers have ninety days in which TO pay
over the full amount of the purchase
money. and that part of the transac-
| ton will be carried out in New York
| in the future. The government has
now the sinking fund of the road and
| the amount of the guarantee check put
| I'D by the reorganization committee;
| this is lust about ten per cent. Of the
| full purchase price of the road. The
members of the committee had nothing
| to say after the sale was over.
Attorney Winslow said that it was
| aossible that the committee might
have a statement to issue later on, but
inst now he had nothing to say.
Regarding
THE FUTURE MANAGEMENT
of the road he had mounting to say, but
| it is practically certain that it "ill
| for the time being be left in the hands
| O, the present receivers, VINO will 1un
il as they have been running 1t WITH
| the one difference that tcey will be re-
| s3onsible to the reorganization COM
| mittee instead of the government;
| when the committee has perfected ell
OF it's arrangements it will receive
them. The future heal OF ths ROAD
will be S. H. S Clark. the former pres
/ id-nt of the road, if his fealth viii per-
| init him to take the position. lie had
| been expected at the sale to-day, but
was confined to his home in st. Louis
| by illness.
| The sale to-day was under the mort
gage held on the property by the
United States government. To-mor-
row at the same time and at the same
| place as the sale to-day was held. an
| other sale will be held under the fore
! closure Of the trust deed securing the
| construction bond which constitute the
| first lien on the road.
4
1 Cr-pP E,EDFPE