The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-08

RAILWAY LINE TOBE
SOLD NOVEMBER )
Commissioners of Court Adver-
tise Street Car Proper
ties as a Whole.
WILL END REcElvERsHIp
General Belief Is That Old Com
pany Will Acquire Property
and Unity System.
WILL END REcElvERsHIP

CARRYING out the order entered by
Judge Crump. of the Law and Equity
court. on september 10. directing tho
hallway properties unless tho COM
pany pay by September 20 pnst-due
i .1Io est on Its bonds amounting to
Kelley and Samuel A. Anderson served
notice yesterday that they will sell
the property at public auction on No
at the south door OF the City Hall at
IL o'clock in the morning.
In accordance with the court order,
Besides seven and one-half miles Of
railway track in the city OF Richmond
railway system, the holdings embrace
sthc, valuable Marshall Street and
spring Street Yiaducts. power house
of Lester Street: barns and machine
shops at Thirty-fifth and Marshall
Streets. rolling stock, office fixtures.
dry lots of land in various parts Of
the city.
COURT SALE WILL
The salo will G STi5s F te
the, proceedings brought against tho
Richmond and Henrico Railway Com
I pany on June 8. 1919. by the Union
Canada. under~riter for a $3.50. 900
bond Issue executed by the railway
company In 1910 In order to secure
funds with which to construct Its
lines. The company had secured a
franchise in 1900. but had not been
able to exercise 1t because Of diff
The Union Trust Company applied on
June g., 1913. to the Law and Equity
company. setting forth that the COM
pany was insolvent, and that 1t had
never paid a cent Of interest on Its
the ' virginia trust Company the re-
ceiver of the property, and this COM
pany has operated the road for more
than a year. issuing receivers certin-
In its order of September 16. the
cou5t gave the Richmond and Henrico
Kalway &C., SSompnny Until nn ne
bonds and forestali n public sale The
procedure was purely .prefunctory,
would not be Forthcoming. The pub
lie sale OF the property by the two
commissioners appointed by the court
v er saiS 5. pa as the fuiaiment Of the
BIDDER MUST DEPOSIT
EVIDENCE OF GOOD FAITH
The commissioners arc directed by
the court to receive no bid from any
person Offering to buy the property
who shall not first deposit as an evil
case of acceptance. the sum of $4,000
either in cash or In the formed OF GER.
titled check. The SALE is made subject
ject to the sl.25O,000 mortgage held BY
the Union Trust Company.
Aithought there have bee been rumors
and Its purchase by n new syndicate
it is generally believed that It will be
PoWar by the VTE e, es iSs amd
pany have frankly admitted that the
disposition of the property is OF I'm
mediate concern to their interests. but
have declined TO say, just what course
the company Will adopt when. the in
solvent road is placed on the block.
1t is stated on good authority that
pany has. friendly understanding
with the interests holding n majority
Of the bonds. and that there is little
permitted to acquire tho Richmond and
Henrico holdings for the purpose OF
operating rival road.
SOLUTION OF PROBLEM
Vice-President Henry w. Anderson
Of the Virginia Railway and Power
Times Dispatch said that while his
company holds the belief that single
united system offers the best solution
like Richmond. he was unprcpared &c
say what the attitude OF his company
would he when the property was placed
The Virginia Railway and Power
to the City Council for a new blanket
franchise to supplant the five separate
franchises under which Its presen,
street railway system is operated. THE
disposition OF the Richmond and Hen
rico holdings will have an important
bearing upon the form OF franchise that
will be asked.
If the property is acquired by the
power company the Council will in al
probability be asked TO sanction the
elimination of such portions of tho
traclsage IS parallel their own. as well
as of other parallel lines which are now
operated by the company because the
original franchises require 1t.
Capitol Closed on Richmond Day.
The State CaDitoI Building was closed