Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1901-07-20

Ihe Eureka q Palissde kailsoad prop
perty was sold at public auction here
Last Wednesday by United States Mar
shsl Emmitt acting under . decree Of
foreclosure issued out Of the U. s. Cir.
cult Court. Ninth Circuit, District Of Ne
vads. The property was bid in for
$500. 900 by G. H. Abbott. who made the
bid on behalf Of NJ. L. Requs. H. W.
Hellmsn, Jr.. and I. H. Moultou. the
reorganization committee Of the Eureka
4 Pslissde Railway Company. the new
corporation just organized 81 Salt Lake
City last week.
The amount Of the judgment in The
foreclosure suit amounted to $500. 900,
and with the accrued interest Of over
S40O. 900. the costs and expenses of suit
and sale. brought up the total amount Of
the indebtedness TO about 81, $3.50, 900.
II had been expected that . number
Of bidders would be on the ground and
make the matter Of securing the road
and its equipment somewhat interesting.
but with the exception Of Msssrs Re-
qua and Abbott. there were no serious
bidders 81 the sale
The following information regarding
the formation Of the new company 10
taken from the Salt Lake Herald Of
July l3:
The articles Of incorporation Of the
Eureka & Pslisads Railway Company,
which are framed under the favorable
railroad incorporation law passed BY the
Utah Legislature last Winter, were fled
late yesterday afternoon with the Sscre-
tsry Of State. IL 10 recited in the arti-
Giles that the Eureks & Pslissde railroad
running from Palisade to Eursks, in Ne
vads. . distance Of eighty.four miles,
is about to be sold by Judicial proceed
log in the Court OF the Ninth United
States Circuit. under foreclosure Of .
mortgage and that the intention 10 TO
purchase the property and extend the
line within or without the States Of Ne
vads. Utah and other States. and to
consolidate with other railroads which
are not parallel with it.
The capital stock of the new company
is fixed ct $500. 900. in 500 shares, and
authority is given in the articles TO issue
bonds to carry out the intentions speci-
fed. The c~ompany's headquarters are
designated to be in Salt Lake City.
NJ. L. Requa Of Oakland, CAL. is Pres
ident; /. w. Hellmsn, Jr.. Of San Fran.
cisco. Vice. President. and the other
heaviest shareholder is /. II. Moulton of
San Francisco. G. D. Abbott of Pals
ade. New. is Secretary and Treasurer,
and the remaining directors are Carl r..
Abbott and II. II. Taylor Of San Fran.
cisco and Charles Read and Charles L.
Rood of Salt Lake City. Besides those
mentioned the incorporators and share
holders are R. NJ. Fitzgerald Of Oakland,
CAL, and c. E. Worden of San Fran.
cisco.
G. L. Rood, one Of the two resident
directors would have but little to say on
the subject last evening.
1.-THE incorporation papers tell the
whole story as I understand IT," be said.
"The road was to be sold for debt.
These incorporators of the new company
we're bondholders of the road and reor-
ganizsd to protect themselves. They
incorporated in Utah because of the
favorable laws in this State. / don't
think this incorporation has anything
whatever to do with any other railroad
enterprise. 1t has no significance that
does not appear in the articles Of incor-
p~oration."
President Requs stated to . SENTINEL
reporter that there would be no changes
whatever in the general management Of
the road, which 10 now giving entire
aatisfackion in all its dapavkmanka