New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-28
RAILROAD INTERESTS
u. AND o. UNDER FoREcIos,p,
SPECIAL MASTERS APPOINTED .xn
TONS or SALE ARRANGED p,,.

H. AND o. UNDER FoRECLos1p,
SPECIAL MASTERS APPOINTED AKIN
TONS or SALE ARRANGED p,os
GANrzATIoS MAY PREVENT IT
Baltimore, Jan G.-Judges Gon and Yorr,
United States Circuit Court, to-day hana..na s
decree for tho foreclosure sale ~ tho ~. a'Na
and Ohio Railroad, under the consol!da,,o. "ne's
gage, and appointed A. 8. Durham and ,.. nor
spamer special masters 10 make thu L
are required TO file with the Court a., ih.y
days before the sale, joint and severa, 80, Ten
10000 for the faithful performance OF thai, Tor
The property Is to be sold az an entire,v e.'e'.
sale Is TO be made OF sixty days ror "' no
given by the special masters upon the 80 B.
the solicitors Of the Mercantile Trus. ana NJ
Company. Of Baltimore. trustee for tho os'o.t
dated mortgage ana Is to be az public auc,,..
Camden Station. Al
Notice of the sale shall bo published for
secutiVe weeks In at least one newspsper IN n0 oa'
more. Washington. Wheeling and New-yort e.
In Belmont and Washington counties. Ohln ~
special masters at the request Of The solo,. NV
the Mercantile Trust and Deposit Commas
Baltimore. shall adjourn or postpone N. ..,'
without further notice may proceed with (, a. a"a
day 70 which II may be adjourned They shan
ceive no bid from any one who shall not nrs, ;.
post as pledge that he will make good h. No.. !"
case of It's acceptance the sum Of t250O0D in more.
by certified check upon any National bank or ,rr
company I'm New ork or Baltimore or ENNn :,
value Of the bonds. secured by either o, Tho ~" ~
cages foreclosed. Upon the acceptance o. anv ~,
the purchaser shall at once deposit MIR ~
special masters 000 IN cash or certified eh... y
81 .c00VO0 par value If the bonds. as a pledge p.
special masters shah accept no Did less than 70,
100000. and in case that amount shall not be M
they shall adjourn the sac and apply to the cou
for further instructions.
Messrs. Durham and Spamer were anooir,.,
special masters by reason OF their familiarity 80,
the proceedings in the case. and with the sub,s.,
matter OF the decree and their accessibility "a a.,
parties 10 the case and others interested /, so..
not follow that because the decree has besn
granted the property will be sold under foreclosu
The decree will only be awaited Of in the even, IA,
organization managers fail TO effect yolun;a,v
settlement with the owners OF the securities Of ,A
several properties that form the Baltimore and 0bo
system Satisfactory progress has been made
this direction. and the Indications are that within
"A short time all the interests Will agree upon
basis OF settlement without resorting to foreclosur.
If the property Is sod the OLD charter will ~
come void. This Is one OF the valuabls char.
ters ever granted by any State. Besides exerotn,
the company from taxation in Maryland II confer
other privileges not covered by the new charter
under which the company could organize.
The Cd charter saves the company IN taxes aons
about $4,000 a year. and II IS 10 save this item
that the managers are Fastening In efec,lng ya.
untary settlements with the owners OF the ~
cuTites.