Evening star., 1898-11-15
BELT RAILWAY SOLD
Property and Franchise Disposed Of
at ! u ic Auction.
OSCAR 7. CROSBY THE PURCHASER
His BID, the Only One, Was
$35O,0OO.
COURT MU ST ONFIRM

The Belt railway, its franchises and prop
erty Of all kinds, was sold at public auc
tion this Afternoon to Mr.. Oscar T. Crosby,
whose bid was S}5O,OOO. There was quite
group of street railroad men and others
gathered in front of the main entrance to
the office of the company at 1lth street
and Florida avenue when Mr.. Charles c.
Duucansen. the acutioneer, began at 2
o'clock to read the advertisement of the
property.
In the group were Mr.. o. T. Crosby. Mr..
Frederick c. Stevens. Mr.. NJ. NJ. Myrick
and Mr.. W. Kesley Schoepf of this city,
repr esentatives Of the Guy and Suburban
railroad; Mr.. Bond of Baltimore. of the
same compeny. and Mr.. Carswea and Mr..
Newbod of Baltimore. formerly Interested
in the road; Mr. Chas ]. Bell. the president
of the American Security and Trust Com
pany, the trustee Of the property; Mr..
Nathaniel Wilson and Mr.. Aldis b. Browne,
attorneys of the trust company; VIM. A.
Mckenney, the trust officer; Mr.. K. d.
Weaver. c. B. Coleman of the Metropolitan
company.
Mr.. John R,dout the attorney for the
receiver of the road. Mr.. A. s. Worthins-
ton. formerly counsel for Belt bondhoiders
ard others.
Under the order of the court. only those
who bad deposited 5000 were entitled to
BID. Mr.. Crosby was the only one thus en-
titled, ana no other bio was made. He
started the b:Gding at S350.ooo, and it was
Knocked down at that figure. The sale
must now be confirmed by the court.
Terms of Sale.
Under the terms of the sale no one was
allowed to bid unless there was first de-
posted with the trustee the sum of 5000.
l. was also required that within five days
after the sale is ratified by the court the
purchaser must pay the sum of s50000 in
addition to tie amount of the deposit.
The sale was made in accordance with
decree of the Supreme Court of the District
directing the American Security and Trust
Company. as trustee, to offer for sale as
an entirety all the corporate rights priv
leges, franchises. rights of way and prop
erty. real. personal and mixed of the Be I
Railway Company.
The lines of the company consist of about
fifteen miles of single track. beginning on
1st street west at the point of intersection
with Maryland avenue in front of the
Capitol, thence north on 1st street and New
Jersey avenue to G street, thence to 4th
street, to street, to 18th street. south on
11th street to f street west. on Z to 14th
street. to b street south. to Virginia ave-
nue. southwest, thence to Maryland avenue
and 1St street west, to the place of begin
ming.
Also along o street between 4th and 11th
streets, also north on 11th street from P
street to Florida avenue. also at 1lth and
E streets. thence east along f to 9th street
thence south on 9TH street over the tracks
of the Metropolitan Railway Company to
Louisiana avenue and along the latter to
the intersection with the main line on 12th
street, south on 18th to B street where it
intersects with the main line at 18th street
Also at 1fth street and Virginia avenue
southwest. along 11th to Water street and
along Water street to 1th street, and thence
10 y street south. also at Ohio avenue and
18th street, south along 18th street to b
street.