Florida on the first day of November 1866. And Whereas on the day and at the
place last mentioned the terms of sale being announced "that the purchasers shall be bound
to continue the payment of one half of one per cent semi annually to the sinking fund
until all the outstanding bonds are discharged under a penalty of an annulment of the
contract of purchase and a forfeiture of the purchase money paid in" and "that the
iron and locomotives now upon and belonging to said road shall remain upon
the same and not be removed therefrom: and that the purchasers will within a reasonable
time repair and complete said road in a proper condition to be run and operated
according to the original intention and design of said road" and that the sale was subject
to all the conditions of the act to provide for and encourage a liberal system of Internal
Improvements in this State; and the said Florida Railroad and all its property of
every kind having been then and there exposed and put up for sale was purchased
by Isaac K. Roberts, he having bid the sum of three hundred and twenty three
thousand four hundred dollars for the same. And whereas the said Isaac K. Roberts
did direct that the Florida Railroad and all its property of every kind shall be conveyed
to the said Edward N. Dickerson and his associates. And Whereas the said E.N. Dickerson
and his associates duly conveyed the said Railroad property to a company which
was called the Florida Railroad company created under the State Internal
Improvement Act before named to wit - the act of 1855. And whereas the name
of the said last mentioned company was changed by an act of the Legislature of
Florida approved January 18th 1872 to the name of the Atlantic Gulf & West India
Transit Company. And Whereas by the terms of such mesne conveyance the
obligations of the said Railroad company under the said Internal Improvement
act became declared upon and charged upon the property of the said Atlantic
Gulf & West India Transit Company. And Whereas it was their duty under the
said act to pay the one half of one percent semi annually upon the first mortgage
bonds outstanding issued under said act of 1855 to liquidate the principal thereof
And whereas they utterly failed and neglected to pay the said one half of
one percent semi annually on the Bonds outstanding as aforesaid And whereas
Aristides Doggett Esquire was appointed Receiver of the said Internal
Improvement Fund in a cause then pending in the United States Circuit
Court for the Northern District of Florida in which cause Francis Vose et al was
complainant and the Trustees of the Internal Improvement Fund et al were
defendants. And Whereas by the terms of the said decree appointing the said
Aristides Doggett Receiver he was authorized, empowered and directed to
receive demand and compel the said Railroad companies to pay unto him
instead of the said Trustees of the Internal Improvement Fund of Florida the said
one half of one percent semi annually upon the outstanding Bonds of the said
company. And whereas the said Railroad Company neglected and refused
to make the said payments after due demand upon them by the said Receiver.
And whereas the said Aristides Doggett Receiver did commence a suit against
the said Atlantic Gulf & West India Transit Company in the United States Circuit
Court for the Northern District of Florida to compel the payment of such semi
annually installments upon the said bonds outstanding. And whereas
an answer was duly interposed on behalf of the said Railroad company
and proofs taken, and a final decree was had Dated the 23rd day of
February 1881 directing the sale of the said Railroad property its privileges