The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-09

Paul was presented, and after many
changes were made and agreed upon was
passed upon by the court The decree
provides that the payment of the balance
Of the bid, amounting to $6,800,000, may be
made either in cash or in first mortgage
bonds of the Wisconsin Cenertal company.
Upon payment the special master is au-
thorized to execute the necessary deeds of
conveyance, and the Wisconsin Central
company and the receivers are directed
to join with him in the execution.
AS part purchase price and a condition,
in addition to the sum bid, the new com
pany is directed to pay all unpaid com
pensatiOn to the receivers and their at
torneys. together with any unpaid indebt
ednesS or liability which the receivers
may have incurred during their operation
of the property, and also any preferential
indebtedness which may have existed at
the time the receivers took charge of the
property, and ordered paid in the order
appointing the receivers, together with
''all sums which by the order of this may
hereafter be charged upon the corpus of
the property upon any intervening petit
ton heretofore filed"
Then comes the clause in which the
court reserves the right to retain. retake
and resell the property, and jurisdiction
for that purpose is especially retained in
order to enforce the condition of the de-
cree and such orders of the court as
may be hereafter entered.
The question of whether or not the
new company will continue the leases
and contracts of the receivers IS optional
and it is given six months in which to
determine. All parties having claims
against the property are required to pres
ent them after six months notice by
publication.
The decree was signed by consent of
all of the parties. ali waving notice and
the right to file exceptions.
The sale of the property was under a
decree in the suit against the Wisconsin
Central company, and the decree entered
today confirming the sale was In that
action After the decree had been sign
ed the attorneys presented a decree to the
court in the suit against the Wisconsin
| Central Railroad company. It establish
ed the mortgages and directs the re-
ceivers to turn the property over to the
Wisconsin Central Railway company on
demand after the terms of the decree
have been complied with The court, how
ever. ''alsO reserves jurisdiction concern
ing all questions not disposed of hereto
fore. including the discharge of the re-
ceivers and all settlement of their ac-
counts. and that any party to this action
and the said receivers may at any time
apply to the court for further relief at
| the foot of this decree, in respect to any
matter not herein specifically determined
Late this afternoon the board Of di-
rectors and officers of the Wisconsin
! Central Railway company. the name OF
the new organization. were elected as
| follows:
| Board of Directors-George Coppeu,
| Chairman; John Crosby Brown, William
| L. Bull. Charles c.. Beaman, Fred T.
| Gates Gerald L. Hoyt and James c. Col
| gate. New York; Francis R. Hart, Bos-
! ton; Henry F. Whitcomb and Howard
Morris, Milwaukee,; president. Henry F.
! Whitcomb. Milwaukee; general counsel,
| Charles C. Beaman, New York; counsel.
Howard Norris. Milwaukee; auditor,
Robert looms, Milwaukee; treasurer.
! Frederick Abbott. Milwaukee, general
superintendent. Sumner ]. Collins. Mil
| waukee; general freight agent, Burton
/ Johnson. Milwaukee,; general passenger
agent, James c. Pond. Milwaukee: chief
| engineer, Robert B. Tweedy, Milwaukee:
| purchasing agent. ]. A. Whaling, Mil
waul1ee: land. tax and industrial com
| missioner, w. Fl. Killen Milwaukee,
No general manager was chosen. but
| it is presumed President Whiteomb will
continue to act in that capacity