The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-11-03

Follows tho Second Mortgage Into the Re.
organization Committees Hands

Follows the Second Mortgage Into the Re.
organization Committees Hands.
Omaha, Neb., Nov. 2.-The reorgani-
cation committee Of the Union Pacific,
which yesterday bought the government
lien, which was the second mortgage on
the property OF the Union Pacific, today
purchased the first Mortgage on the
same property, by which the construc-
ton bonds were secured. The price paid
for the mortgage was the amount named
as the minimum bid to be accepted, $780,
637 1875. The property was bought, as
was the second mortgage yesterday, in
the name Of Louis Fitzgerald and Alvin
W. Krech as purchasing trustees.
The sale today was. If possible, more
uninteresting than that Of yesterday,
not over forty people being present at
any time 1t was IL o'clock to the min
ute when Master in Chancery Cornish
mounted the stone step in front of the
Ninth street entrance to the Union Pa
cific freight depot and began reading
the notice OF the sale and the description
of the property to be sold. This consum-
ed just thirty-six minutes and he then
read the same police Of protest from the
Union Pacific, Denver and Gulf rad
against the sale of two miles OF track of
the Cheyenne and Northern road. which
is claimed by the Union Pacific, Denver
and Gulf and the Union Pacific, that he
read yesterday. He announced that the
ject to the Protest and asked for bids for
the property, the description Of which.
he had just read.
General Louis Fitzgerald repeated his
performance Of yesterday, by coming out
Of the hallway and saying:
II bid for the property fifty millions,
six hundred and ttirty-seven thousand,
four hundred and t.1i,ty-flve dollars
Master in Chancery Cornish repeated
the amount, adding:
Are there any other bidders? Does
anybody else desire to bid?"
Apparently nobody cared to avail him.
self OF the privilege and Mr. Cornish con-
tinued:
'Inasmucil az the bid Of Louis Fitz-
gerald and Alvin W. Kcech, purchasing
trustees, is the highest bid and the only
bid, declare the property sod 10 them
for the sum Of fifty million. six hundred
and thirty-seven thousand. four hundred
and thirty-five dollars. This concluded
the sale and as there is no other prop
erty 70 be sold. fhe thing is finished"
Master In Chance,y Cornish has been
prompt in filing tine report OF his officis;
action in connection with the sale OF
the Union Pacific. The report OF the
sale made yesterday was fled this morn
ing in tie Office Of the clerk OF the Unit
ed States court.
The report cites the order Of sale Is
sued by Judge Sanborn and in accord
ance With the provisions OF that oder
mentions that representatives OF the
purchasers deposited with the master
within the proper time q certified check
for $1,000 600 az guarantee on the BID
for the property and another certified
cleck Coz 1854 SIS to cove, TIE sale OF
the sunking fund bonds.
The master says that when the prop
erty was offered for sale Louis Fi,z-
gerald and Alvin W. Krech. repre.en.-
ing the purchasers. bid SIS. SIS. 81 for
the railroad and it's franchises and S3.-
$3.50 for the sinking fund bonds. =,
I nat these bids were the only ones offer
ed and were accepted.
The fee which the master who male
the sales OF yesterday and today viii -
ceive for mis- work IL generally estimated
a. s100 cra. r may be over that amount.
ana ii may be something under IL. By:
* is generally conceded that Il viii De
close to that figure in either direction.