wise, or any lands, or property of the Company, not necessary to be retained for its roadways, Depots, Stations Etc. nor from collecting stock subscriptions, provided the proceeds should be applied to the construction of said road and branches and provided also, that no default should be made in the payment of the principal or interest on said Bonds.

To have and to hold the same premises and every part thereof, with the appurtenances unto the said James T. Soulter, and David Hoadley, as Trustees aforesaid, their successors in said trust, and assigns, subject to the lien or incumbrance of Five hundred Thousand Dollars, created by a Mortgage executed by the said Peoria & Oquawka Rail Road Company to Wm. F. Colbaugh John F. A. Sanford and Luther C. Clark dated the second day of August A. D. 1852, and recorded in the office of the Recorder of Peoria Co. and of other Counties through which said Road runs, and confirmed by another deed duly recorded also the the same Parties, dated March 19, 1853, both executed to secure the payment of the said $500,000, and the interest thereon, to be paid semianually, which said deed to said Soulter and Hoadley was executed subject to said prior incumbrance as above stated, upon the following express trusts, that is to say, in case the Peoria and Oquawka Rail Road Company should fail to pay the principal or any of the interest on any of said Bonds intended to be secured thereby at any time, when the same should become due, and payable, according to the tenor thereof when demanded, then after Sixty Days after said default, upon the request of the holder, of any one of the said bonds the said Soulter and Hoadley their successors and assigns might enter. into, and take possession of all or any part of said premises, and as the attorneys in fact or Agents of said Company by themselves or agents or substitutes duly constituted lease, use, and employ the same, making from time to time all necessary repairs, alterations, and additions thereto, and after deducting the expenses of such use, repairs, alterations, and additions apply the proceeds of such premises to the payment of the principal and interest of all said Bonds, secured by said Deed of Trust unpaid, or the said parties of the second part, their successors in the said trust, and assigns, might at their discretion or the written request of the holders, of at least one half of the said bonds unpaid, and unconverted into stock, should cause the said premises, or so much thereof, as should be necessary to pay and discharge the principal and interest of all such bonds as might at the time be unpaid and unconverted as aforesaid, together with all the expenses of the sale, to be sold at public auction in the City of New York, giving at least forty days notice of the time and place of sale and of the specific property to be sold, by publishing the same in two of the principal newspapers in the City of New York, at the time being, and also in one of the principal newspapers in Peoria, Illinois, and Burlington, Iowa, at the time being, and execute to the purchaser or purchasers thereof a good and sufficient Deed or Deeds of Conveyance in fee simple for the same, which should be a bar against the said Peoria and Oquawka Rail Road Company-their successors and assigns, and all persons claiming under them of all right, interest or claim in or to the said premises, or any part thereof, and the said Trustees, shall after deducting the expenses,

and costs of sale from the proceeds thereof, and also of managing said property, apply so much of the proceeds, as might be necessary to the payment of the said principal and interest, due or unpaid on said bonds, and restore the residue thereof to the said Company it having been also therein expressly understood and agreed on the part of the said Company, that in no case should any claim or advantage be taken of any valuation appraisment or extention laws, by the said Company, nor any injunction or stay of proceedings, or any process be obtained or applied for by it, to prevent entry or sale as aforesaid. And it was also in said indenture expressly understood and agreed that such sale, should be made subject to the said indenture of mortgage to the said Wm. F. Colbaugh, John F. A. Sanford and Luther C. Clark above described.

And it further appearing from the proceedings, and the said report, to the satisfaction of this court, that the said bonds to the amount of Five Hundred Thousand Dollars were made by the said Peoria and Oquawka Rail Road Company, under the security of the said indenture to said Colbaugh, Sandford and Clark, bearing interest at the rate of eight per cent. and payable half yearly in New York and that the said mortgage or deed to said Parties conveyed all that portion of the said companys railway which lies west of the Illinois River, and all its franchises, rights, and other property, except only that portion of its line of road and franchises which lie east of the West Bank of the said River and that no interest on the said bonds have been paid since November A. D. 1858, and that the principal debt, May 1, 1861, is $500,000, and that interest warrants at that time thereon remaining unpaid amounting to $107,160.00

And interest thereon, after due at the rate of six per cent amounted to

Being a total at that date of

7,900.80

$115,060.80.

And it appearing also by the said proceedings-and the said Special Masters Report that the Peoria & Oquawka Rail Road Company made another series of bonds, Seven Hundred in number, each for the payment of $1,000, dated 10th September A. D. 1853 and payable May 1st A. D. 1873, with interest at the rate of eight per cent. payable semianually, in New York, under the said mortgage and indenture to the said original complainants Soulter and Hoadley and secured to be paid thereby as above stated, and that, of the series, Two Hundred and Fifty One are at large and absolute debts against the Company and that one hundred and nineteen, formerly hypothecated to the Chicago, Burlington and Quincy Rail Road Company have been since sold to C. Harding & Co. and are now held by J. F. Joy, making in all absolutely sold, Three hundred and seventy bonds or $370,000, and that the balance three hundred and thirty, with the interest warrants attached are now held by the Chicago, Burlington and Quincy Rail Road Company as collateral security for the performance of contracts, between those two companies. That the whole arrear of the bonds so held as collateral security including interest is as follows.

$569,184.00

Interest at six per cent on said

unpaid Coupons,

Being a total amount of bonds & interest

And that the amount of interest and principal of bonds sold so far as it has been possible to ascertain is as follows. 357 bonds held by various parties and presented before the Masters with their Coupons.

And it appearing also, that there are thirteen bonds outstanding and not to be found, their owners being unknown, and it appearing that there was past due and unpaid, on the first day of May, 1861 on the other three hundred and fifty seven bonds secured by the said Indenture to said Hoadley and Soulter as above stated, the amount of one hundred and Sixty nine thousand one hundred and twenty four dollars and sixty cents for interest upon said bonds and coupons.

And it further appearing that the Chicago, Burlington and Quincy Rail Road Company is in possession of the portion of the Peoria and Oquawka Rail Road west of Galesburg, under an agreement, that it shall retain and possess and operate the same until the amount of the debt due to it for advances and loans of money made by it to the Peoria & Oquawka Rail Road Company are repaid by it, which said lease or claim is in the nature of a mortgage with possession thereunder, and which contract bears date October 3d 1854, and that thereunder the said portion of said road came into possession of the Chicago, Burlington and Quincy Rail Road Company, on the 17th day of March 1856, and it further appearing in like manner that upon the first day of November A. D. 1860 that there was a balance due to the Chicago, Burlington & Quincy Rail Road Company from the Peoria & Oquawka Rail Road Company upon said contract in the nature of a mortgage and as security for which the said creditor Company had possession of the said Road west of Galesburg-and also of the said Three Hundred and Thirty bonds and coupons as above mentioned, and upon which there was past due of interest coupons and interest thereon the sum of Two Hundred and Thirty Nine Thousand one hundred and eighty four Dollars, May 1, 1861, which balance at that time amounted to the sum of Three Hundred and Twenty Nine Thousand seven hundred and twenty five dollars and seventy five cents

And it further appearing from the proceedings and the said report that under a construction contract, or contracts between certain persons known under the style of Moss, Harding & Co. who were at the time of the com

mencement of the suit and still are William S. Moss, Abner C. Harding Richard Gregg, James Knox, Charles H. Walker Charles S. Clark and Harvey Lightner, and the Peoria & Oquawka Rail Road Company for the construction of the road from Elmwood to Galesburg, the said parties Moss and others contracted to furnish the means for the construction of that portion of the road being a distance of forty one miles, furnishing all the money and materials both for its construction and equipment, and under which contract the said parties were to become and did become lessees of the whole of said Road from Peoria to Burlington, with the equipment subject to the rights therefor, created in favor of the Chicago Burlington & Quincy Rail Road Company on that part of said road west of Galesburg, with the right to retain possession occupancy, use and absolute control and management thereof, and of the equipment, until the amount due to them, from the Peoria & Oquawka Rail Road Company for advances on account of interest outstanding debt, loans, right of way rolling stock and construction of the Road and interest at ten per cent on such advances should be fully paid and satisfied, provided that no interest should be paid on the amount advanced for construction until November 1860.

And it further appearing, that the said Moss, and his said associates entered upon the possession and construction of said road under the said contract and also that upon the account taken before the special Masters and reported by them to the Court there was a balance due them on the first day of November 1860 for the advances made by them, for the construction of the Road under said contract or contracts exclusive of the value of the Rolling stock the sum of thirteen hundred and ninety four thousand, seven hundred and five Dollars and seventy four cents ($1,394,705.74)

And it appearing that the said Company has been long insolvent and unable to pay its debts, and that the said Moss and his said associates, and those claiming under or in connection with them, viz Tobias S. Bradley and Ivory Quimby, and the Chicago, Burlington and Quincy Rail Road Company are in the actual occupancy of the said Road from Peoria to Galesburg as mortgagees in possession or as lessees, in the nature of mortgagees holding the same as security for the respective debts or claims as aforesaid.

Now therefore the cause having been heretofore fully heard upon the arguments of the counsel for the respective parties as well upon the motions made by the counsel for the Peoria & Oquawka Rail Road Company for the dismissal of the cause, for want of jurisdiction and otherwise as upon the final hearing. It is by the Court ordered that the said motions be, and that the same are hereby overruled, and it is ordered adjudged and decreed by the Court that all and singular the said mortgaged or deeded premises mentioned and described in the said original bill of complaint in this cause, and hereinafter described more particularly, be sold at public auction, under the direction of J. T. Moulton one of the masters of this Court, unless previous to such sale the said Defendants or some of them pay to the said Complainants or such Trustees or to their Solicitor or to said Master the amount reported to be due for interest upon the said Three hundred

and fifty seven bonds issued under, and secured by said Trust Deed to the said Complainants which sum amounted on the first day of May A. D. 1861, to the sum of One Hundred and Sixty Nine Thousand and One Hundred and twenty four Dollars-and sixty cents, and also the interest on that sum at the rate of six per cent per annum from the said date up to the time of payment and also the amount of the coupons for interest upon said bonds, which have fallen due upon said bonds since the first day of May A. D. 1861, with interest thereon at the rate of six per cent per annum from the time of their maturity until the time of payment and also shall pay before said time of sale the interest which was due on three hundred and thirty (330) of said bonds, held as collateral security by the said Chicago Burlington & Quincy Rail Road Company on the same first day of May being in amount the sum of Two hundred and thirty nine Thousand one hundred and eighty four Dollars $239,184, together with interest thereon from that date up to the said time of payment at the rate of six per cent per annum and also the interest coupons on the Three hundred and thirty bonds, which have become due since that date and interest thereon, computed at six per cent. per annum from the time they respectively became due until said payment is made.

And it is further ordered that the said sale shall be made at Chicago after the period of one hundred days-from the rendition of the Decree, and that the master give public notice of the said sale and the time and place thereof according to the rules and practice of this Court, and that the Complainants or any of the parties to this suit may become purchaser or purchasers, at the said sale that the Master execute a deed of the said mortgaged premises to the purchaser or purchasers on said sale and that the said Master out of the proceeds of said sale retain his fees, disbursements and commissions on said sale and pay to the Complainants, or their Solicitor the amount reported to be due on the Three Hundred and fifty seven bonds for principal and interest and interest to be computed in the minner indicated in this decree up to the day of sale and also the amount of the principal of the Thirteen bonds not presented before the Commissioners and the interest thereon from May 1, 1861, computed in the same manner and also the sum of Three Hundred and Twenty Nine Thousand, seven hundred and twenty five Dollars and seventy five cents and the interest thereon, since the first day of November A. D. 1860, up to the time of said sale, being the amount for which the said Three hundred and thirty bonds and coupons stand pledged or so much thereof as the purchase money of the mortgaged premises will pay, for the same to be paid pro rata upon said amounts in proportion to amounts thereon, and that the Master take receipts for the amounts so paid, and file the same with his Report, and that if there shall then remain in his hands any further monies from the proceeds of said sale he shall out of the same pay to the Solicitor of the said Moss and his associates, the amount reported to be due to them with interest thereon at six per cent per annum from November 1st, 1860, or so far as the monies in his hands will enable him to do so, and that he bring the surplus monies arising from the said sale if any there shall be, into this Court without lelay, to abide the further order of the Court.