The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-10-05
NEWS Of THE RAILROADS.
L. j. Smith falls Heir to the La
Forte kuad.
Hi MAS THE ONLY BIDDER PRESENT.
i"e GENERAL Opinion Incltncs to the
Belief that the Court VIII Con-
firm the Sale.

eaiVeston. Texas. October Att required
list twenty minutes time to read the long
advertisement. so through some other Tor.
n'ai'uee call for bids and finally sell the
property of the Galveston. La Porte and
hSuson railway company today. l.. j.
smith, by his attorney, r. G. Foster OF
Denison, bid $4,000 and the road vas
Knocked off 10 him. His was the only bid.
IL was just IL o'clock when Or. John
Grant special MASTER commissioner in ths
case, announced from the court house.,
steps that The Galveston, La Porte and
houston railroad would again be offered
ior sale. and handed to Deputy United
s'ases Marshal borough copy OF the ad-
yetLsement relative 10 the sale and its va
nous posponemcnts. This somewhat
lengthy but necessary feature was made
pubic TO an assenblage OF about fifty gen
Yemen who had gathered To witness the
transaction.
All the conclusion OF the reading Com
missioner Grant asked for any protests
that may be filed against the sale Of The
road lie was answered by Judge George
L. Mann, Mr.. Daniel Henderson, Judge
Austin and Attorney IL. w. Rhodes, VINO
filed formal protests That OF Judge Ats
Tin was verbal. but was accepted on con-
dition that he put It In writing and hand
II IN He promised TO do so,
IF there are no other protests / will
now receive the checks tc DO deposited as
guarantees, il the gentlemen around me
. VIII allcw the prospective hdders to APP
rroach,' announced Or. Grant.
The check OF MIR. Smith vas already ~,
having been deposited at the time Judge
Bryant set aside the last sale and no
other gentlemen seemed anxious TO put up
| $4,000 as au evidence that they wished 10
/ hid 900 or more for the road. Tbe COM
missioner then proceeded with the sale
| aud Judge Il. {. Foster of Deuison. as at
tornoy for Mr.. l.. ]. Smith, promptly bid
the sun, of $4,000 for the road. For ten
minutes Or. Grant called the bid, ai<tng
occasionally for On extra s25 600 and finally
admitting that he would accept $1,000
raise. No one seemed anxious TO own the
road, however other than Mr. Smiths at
/ torney, and finally at the third and last
CALI It was sold to that gentleman. With
In five minutes the crowd had dispersed
and there was no more evidence OF a trans
! aciion involving nearly half a million dol
lars than ii the sale had never occurred.
The usual speculation prevails today. as
! on the other occasions. as 10 what viii be
the final disposition of the road The
statement Is made thas the Beaumont
| Lumber company is not Interested in the
purchase, although they Joined Smith In
/ the plea to set aside the sale. In the
| crowd today when The sale took place Was
! u. w. Rider, superintendent of the Kan
sas City Belt railroad. MIR, Rider signed
one of the checks when the 1000 was put
up as guarantee that If the sale TO Holt
| should be set aalde the road would brine
more money than he had bid for IT. Rider
Us evidently interested in the pu.chsse.
! but to what extent or what will be the ulti.
mate fate Of the ROAD dqigent inquiry failed
! TO reveal.
Judge Norman G. Kittrell OF Houston
was here and after the sale remarked ths
his man tmesnig Hoil Rad bought the
road twice and bad bscome tired OF delay
w. A. Nesbt Of Chicago was present II
the interest Of Eastern creditors, SC lie
said. but did not bid.
There Is very little doubt but that thii
sale will be- promptly confirmed.
Commissioner Grant left r. re this afer
noon for Paris AMI will submit a lorma
report 10 Judge Bryant In day or two
Twenty DAYS after confirmation the pur'
chaser must pay the remainder OF mis- lii
and take the property.
Judge Morgan NJ Mann, special maste
in the La Porte cese. today filed with IL
clerk of the federal court in Galveston
report on the Intervention OF the Galvesto'
and Western railway, being claim for IN
use Of a certain portion of the latter''
tracks in this city. He recommended tina
the La Porte should pay TO the Susie
the sum OF $3.50 q month for the use OF II
tracks and should also keep same IN repair
Colonel Gresham filed exceptions TO III
masters report and asked for $500 a month
COMMISSION ORDER