dBooks desire

75.
The bid at the sale covered the first mortgage lien and the entire
mortgage claim of the Government, principal and interest.
The sale of the subsidized portion of the Kansas Pacific Line, upon
which the Government holds a second mortgage lien, has been postponed at
the instance of the Government to December 16, 1897. The debt of this
division of the Union Pacific Railway to the Government on November 1,
1897, was the principal of the subsidy bonds, $6,303,000, and the unpaid
and accrued interest thereon, $6,626,690.33, making a total of
$12,929,690.33.
The sale of this road was originally advertised for November 4, but for
the purpose of securing the utmost public notice of the event it was
postponed until December 16, and a second advertisement of the sale was
made. By the decree of the Court, the upset price on the sale of the
Kansas Pacific will yield to the Government the sum of $2,500,000 over
all prior liens, costs, and charges. If no other or better bid is made,
this sum is all that the Government will receive on its claim of nearly
$13,000,000.


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