Show I n D R. R G. G W. W SOLD AT AC l PUBLIC IC AUCTION FOR lOn 78 The Tile Denv Denver r RIo IRio Grande Vestern West Vest Western Test i ern railroad was was vas sold at public auction In Denver October 2 29 to Donald C. C and Hayward Hayward Hayward Hay Hay- ward A. A A.- A. HIbberd of ot New York representatives of ot the hel reorganization tion managers for subject to the approval of the United United Unit Unit- ed ed States district court and and and Hibberd represented represent represent- ed Kuhn Loeb Co and the Equitable able a- a ble Trust company of or New York tu tc the reorganization managers There was only one bid Before the sale Harold Palmer o of of New York a mhlor minority ty bondholder I er served a formal notice of protest on Cass E. E Herrington special mas mas- I ter l Palmer almer notified Herringto Herrington that he lie would go into the federal federa court and attempt to stop confirmation confirmation confirmation confirma confirma- tion of the sale of ot the property Palmer attacked the sale price a as 1 insufficient The amount was the upset price pric named by br Judge J. J Foster Poster Symes who recently autho authorized the foreclosure foreclosure fore iOle closure and sale ale of the proper property y Under the reorganization plan pian the Missouri Pa Pacific ad the Western Westeri Pacific railroads will acquire control contro of the common stock of the Rio Grande Federal Judge Symes under unde I whose jurisdiction jurisdiction t the e railroad d dhas ha has been sin since it was thrown into receivership receivership is expected to act upon the tel tentative tat ve sale wi within hin twenty days days- i I If the sale is approved the way i is cleared for the reorganization of the railroad as recently approved by the interstate commerce commission with the exception of the disposal o othe ot of the threatened court action by Mr Ir Palmer Mr 1111 Palmer attempted to Intervene in the federal court hearings hear hear- ings which preceded the fixing of th the tho sale price out lint his petition was de dc- LC- LC nied hied At the beginning of the sale at attorneys attorneys attorneys at- at for the Utah Railroad company company com corn pany served no notice on Special Master Master Mas las lastel ter tel in Chancery Cass E. E Herrington that it would defend all rights previously previously previously pre pre- acquired of the railroad per permitting per per- the Utah railroad to use Denver Rio Grande Western tracks between cert certain i points in Utah The Western Union Telegraph company also served notice that it itou ou woud ll maintain Its rights for fOJ the tile u use e of the Denver Rio Grande Western right of or way for Cor telegraph dines Ines al and and I other equipment q |