Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1902-03-08
ABOUT THE COURT HOUSE.
County Court Adjourned Satur-
day Morning.
Important Order iu Regard to NJ. q K.
Bailroad-Connty now Holds First
Mortgage ON the Road-Full Text oil
the order as Passed bv the Court.

Mortgage on the ROad-full Text OF
the order as Passed bv the Court.
On Saturday morning the County
Court adjourned after quite busy
session. No very important public
business was transacted aside from
the action mentioned below in regard
to the M. s. K. railroad. No bridge
building marked the present Germ of
court. Several matters along this
line were presented.
The court made an order in regard
to the M. s. X. railroad by which the
district (Morgan) will lose $11, 900 of
the bonds issued TO aid in the con-
struction of the road but will get out
without further loss. The full text
of the order as passed is as follows:
BY mutual consent the order of the
court entered on the 5th day of Sep
tember 1901, accepting the offer made
by George q. Sturgiss for himself and
as President of the Morgantown 81
Kingwood Railroad Company for the
purchase of the $45, 900 par value of
preferred stock of said railroad COM
pany, owned by Morgan district, of
this county be modified as follows:
Said Sturgiss tenders his bond for
$34, 1000, payable December 81, 1904,
with interest at the rate OF five per
cent per annum from March /, 1902,
payable July and January 1st 10 each
year, and proposes to deliver with
said bonds and as collateral security
for the payment of the principal and
interest Of the same, certificate for
$40, 900 Of the preferred five percent
stock of said railroad company, duly
assigned, (Which is to be issued to
him by said company upon the trans
fer to him OF the certificates for $45,-
600 of like stock held by Morgan dis
trict) and to deliver to this count for
Morgan district $34, 900 of the first
mortgage gold bonds of said railroad
company, bearing five percent inter-
est, payable semi-annually January
and July 1st, to be issued at the rate
of not more than eight thousand per
mile of each mile of road actually
built and in operation, as soon as the
same can be engraved, printed, exc
cuted and delivered as collateral Sc
curlty for the payment of his said
bond 10 place Of said preferred stock.
And it appearing TO the court that
the right to redeem and pay off the
bonds issued on behalf of Morgan dis
trict ia aid of the said railroad and ia
exchange for said stock, will not ac-
gcrue till December 81, 1904, and that
the interest on said railroad bonds or
said Sturgiss bonds, will equal and
can be applied to the payment of the
interest on like amount of the Nor
gan district bonds to December 81,
1904, and the principal OF said bond
of said Sturgiss. can be applied at
maturity to the payment or like
amount of the principal OF said dis
trict bonds, and the court being of
the opinion that the interests OF the
tax payers of Morgan district will be
promoted thereby:
1t is, ordered that said bonds for
1884, 900 with said preferred stock as
collateral security be accepted in pay
ment for said $45, 900 Of preferred
stock with the condition that the
first mortgage bonds of said company,
to the amount of $34, 900 as above
set forth shall be delivered by said
Sturgiss to the court, or clerk of this
court as collateral security in lieu Of
said preferred stock to further secure
the payment of the said bonds for
$34, 900 as soon as said bonds can be
engraved, printed, executed and de-
livered
The preferred stock now held by the
! court for Morgan district shall be
assigned and transferred and de-
klivered to said Sturgiss in manner and
form as set forth in the order of Sep
tember 5, 1901, simultaneously with
= delivery Of his bond for said $34,
= the delivery there with of a
\te, duly issued to him by said
Company, for $45, 900 of pre-
percent stock, of said rail-
pany, and assigned by him
bral security for the payment
hid bond
q clerk of this court is directed to
rely file and preserve this bond OF the
said Sturgiss land record the same
among the records of this court, and
the said stock certificate, and to re.
ceive aud file the bonds OF the said
railroad company and TO deliver to
Said Sturgiss from time TO time the
interest coupons falling due thereon,
as fast as he shall pay to the sheriff
Of this county the semi-anual interest
4 due on his bond, and to deliver to him
said .ailroad bonds, whenever, on Oh
before December 81 1904, he shall pay
to the said sheriff Of this county tbs
principal, and all interest due on hi.
bond aforesaid.
The sheriff shall receive and place
to the credit OF Morgan district, al
monies received from said Sturgiss or
said bond and its interest, or from
the sale of said railroad bonds, il