The Saint Paul globe., 1897-11-02

which was very long, being about four
columns of agate type.
This notice is so long, gentlemen"
said Mr.. Cornish, "that 1 will not at
tempt to read it 50 that all of you can
hear it. 1 will endeavor to get through
it as rapidly as possible" He then
began the reading of the notice, and,
as he had said, did not read it so that
the many people could hear it. His
voice grew weaker as she read, and
finally it became nothing but an un-
Ineligible humble that was not dis
tinguishable three feet away.
Close to his left hand stood Law
renee Greer, with a copy Of the no.
tice in his hand. and he followed the
reading of the master in chancery very
closely, He was the only member of
the reorganization committee or those
connected with it who saw the pro-
ceedings from first to last. From time
to time Attorney Pierce, who was in
the hall lust behind that portion of
the door in front of which the auc-
tioneer was standing, looked out and,
receiving a glance from Mr.. Greer,
withdrew into the hall once more.
The reading of the notice took just an
even forty minutes, and, when it was
evident that Mr.. Cornish was we'll
through the last column of the no
to make the bid, pushed through the
door and stood closely to the side of
the reader AS he finished his read
ing, Mr.. Cornish folded the paper and
placed it deliberately in his portfolio.
He then drew forth a small type-writ-
ten document, and, without announce
ing its nature, began to read. 1t was
a protest from Managing Receiver
Trumbull of the Union Pacific, Den
yer & 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 & Gulf and the Union Pacific.
After reading this notice, Mr.. Cor
nish placed it in the portfolio and said:
81 am now ready to receive bids for
the property of the description L have
just read"
There was a moments silence, and
then Gen Fitzgerald said: II bid $39,-
883,281.87 in the name of Louis Fitz-
gerald and A. w. Krech, purchasing
trustees
There was another pause, and Mr..
Cornish said: 1Are there any more
bids?"
tinued: "I will now receive bids for
the sale of the bonds of the descrip
tion of which 1 have read
Gen. Fitzgerald bid, in behalf of
Louis Fitzgerald and A. w. Krech,
purchasing trustees, the sum of $l3,-
645, ,250S9.
In both instances Gen. Fitzgerald
read his bid from a MEMORANDUM
which he held in his hands. Mr.. Cor
nish opened his mouth to say: "Are
there any more bids?" when a voice
from the crowd said: wait a mo-
ment, Mr.. Cornish. What are the
amounts OF those bids? I cannot hear
them" and Cen John C. Gown, the
government attorney, pushed his way
through the crowd with great diff
Guilty. He had been standing about
ten feet from Mr.. Cornish and he had
been unable to hear the announce
ment 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.
STOPPED FOR "A MOMENT.
The sale stopped for a moment as
Gen. Gown struggled through the
crowd to the side of Mr. Cornish. He
was shown the amount OF the DIGS on
the memorandum held by Gen. Fitz-
gerald and made a note Of them He
then turned away and Mr.. Cornish
again opened his mouth to say: Are
there any more bids?" and this time
he succeeded in getting them out
There was not a sound and the mas
ter continued: GAS there are no more
bids, 1 declare the properly Oh WnG9 men
l have just read the description sold
to Louis Fitzgerald and A. w. Krech,
purchasing trustees, they having made
the highest bid and the only bid"
That was all there was to the en-
tire sale and the members OF the re-
organization committee and their at
torneys lost no time in getting back
to the offices of the Union Pacl1!c
read, for the wind blew hard and it
was cold out where the auction had
taken place.
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 near future. the goVernnehI
has now the sinking fund of the road
and the amount of the guarantee
check nut up by the reorganization
committee. This is just about lO 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 II was
nossible that the committee might
have a statement to issue later on, but
he was not certain whether 1t would
he issued or not Regarding the nut
ure m management of the road he had
nothing to say, but it is practlca5lly
certain that it will. for the time pelhg,
he left in the hands of he present re-
ceiyers, who will run it as they have
been running it with the sole ditfer-
ence that they will be responsible to
the reorganization committee instead
of to the government; when the com
mfttee has perfected all of the ar
rangements it will relieve them. Inc
future head of the road will be ). II.
H. Clark, the former president of the
road, if his health will permit nm TO
take the position. He had been ex-
pected at the sale today, but was CON
fined to his home in St. Louis, by III
ness. The sale today was under the
mortgage held on the property by the
Tinted States government. Tomor-
row at the same time and in the same sam.
place as the sale of today was heId,
another sale will be held under the
foreclosure of the trust deed securing
the construction bonds, which con-
stitute the first lien on the road.