Daily press. [volume] (Newport News, Va.) 1896-current, 1905-08-30


States for the Eastern District of Vir-
ginia, on the oath day of July, 1905, In
the consolidated causes in equity
styled John q. Powell and Edward
Powell against the Hampton Roads
Railway und Electric Company and
the PrOvidcnt Life and Trust Com
pany of Philadelphia, Pa, against the
Hampton Roads Railway and Electric
Company. default having been made
by the Hampton Roads Railway anil
Electric Company in the payment Of
S7Gi,962.50, with interest thereon as
required by said decree, VIC, the I'M
dcrSigncd commissioners, will, In from.
Of the Court House OF the County of
Elizabeth City, i'll tho Town of lamp
ton In the State of Virginin. on the
9TH day Of October, 1905, at II O'Clock
VI. OF that day, expose to sale at pub
lie auction. to the highest and best
bidder Or bidders, the franchises and
property of the said Hampton Roads
Railway and Electric Company; that is
to Say,
All of the rights. franchises, per.
mits, property and assets of every
kind conveyed by the Hampton Roads
HALLWAY and Electric Company to the
Providcnt Life and Trust Company
gage or deed Of trust dated February
list, 1901. ana now in the possession
and control Of the receivers, in the
said consolidated causes, together
with all the rights, franchises. proper
ty and assets pertaining to said com
pany which may have been acquired
by the said receivers, or either of
them. Included In said rights, frau
chlscs. permits, property and assets
are the lines of electric railway now
operated by the receivers, or said con
Sclidatcd causes, between Newport
News. Hampton. Phucbus AMI OLD
Point Comfort, and between Hampton
and lsuckroc Beach and between La
Sale avenue and the power house OH
llcr6crt's creek, together with all sid,
tracks, turnOuts. switches, waite,
anks, wires, poles, power houses, dy'
names, machinery OF every kind, roll
!ng stock. equipment of every kind
pertaining to said electric lines. Ant
in addition To the above property al
aud singular the property OF Tho
Hampton Roads Railway and Electric
Company now i'll the possession of tho
said receivers or 10 the possession y
which they may be entitled, of ever.
kind ana description whatsoever
the classification and description.
| tailed description of said property ref
| nrcncc is made To the Inventory of tn,
rcccivcrship heretofore flied in thi,
! cause. with such lamentations thereto
| as have been made from time to time
! as well as to the roper of the said rC
ccircrs from time To time made to thu
court; the inventory and reports ar,
On file in the clerks Office Of the Cir
| cult Court of the United States, a
| Norfolk, Virginia. ana may bc Their
examined.
TERMS OF SALE:
On the ncccptancci of any bid, til,
purchaser shall forthwith deposit will
the commissioners, the sum OF
s20,000.00 in none. or n certified
check or checks on any National Banl
or Trust Company in the city of Phila
dclp!ia, PENNSYLVANIA, and no BIZ
shall be received or accepted withon
the said deposit being matlc-thc sal,
deposit shall be received as part pay
ncnt for the property purchased
Upon the confirmation by the cour
of the sale, the balance of the pur
chase price shall he paid by the sue
ccssful bidder, either entirely in cast
|
ing to the commissioners for the divi
dcnds, payable to such purchaser on
of the net proceeds of such sale upoi
any Of the bonds or coupons held b..
the purchaser. PROVIDED. that not
less than 100000 in addition to Thu,
said $4,000 shall DC paid in cash az
Receivers certificates, at par, with
interest. And purchaser shall state
to the commissioners at the time OF
the sale whether he proposes to pay
the entire balance Of the bid in cash
or whether the purchaser desires t.,
receipt for dividends upon bonds on
coupons held by him. If the purchaser
shall fail to make payment of the bal
ance of the purchase price upon con
firmation of The sale or to comply Will
any order of the court in respect there
to, then the sum deposited by sucl
purchaser shall be forfeited MS q penal
ty for such failure, and shall be ap
piled to the expense Of resale. II
the court shall not confirm the sale for
which a deposit has been made. such
deposit shall be returned to the bid
der.
The purchase of the property shall
not lie construed rs an election to ac
cept any contract, agreement or term
sold with the property and franchises
which within four months after the
delivery OF the decd, the purchaser
shall have elected not to assume.
| Upon the confirmation by the Court
of the sale and the payment of tho
balance Of the purchase price and up
on order of the court directing the
same, the commissioners will execute
n good and sufficient deed for the
premises so sold ami purchased. The
purchaser or his assigns shall, as .
part consideration and in addition to
u