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Show SMilBlL I IS AUTHORIZED I No Bid Less Than $34,000,000 Can Be Accepted No Appraisement. KRUM, SPECIAL MASTER H Plan of Reorganization Is Agreed Upon Auction Sale to Precede. St. Ixmts, Mo., Jan. 30. The sale IH of tho Wabash railroad at foreclosure was authorized today by Elmer B. Adams, United States circuit judge. Judge Adams directed that no bid for the property lower than thlrtv-four thlrtv-four million dollars be accepted, and that the sale be made without ap. praisemcnt. Chester H. Krum of St. Louis was appointed special master to execute the Bale. His bond was fixed at $100,000. All bidders will be re-quired re-quired to deposit with Mr. Krum $1,-700,000 $1,-700,000 or 53,500,000 in Wabash first IH refunding or extension mortgage bonds. The decree of foreclosure was hand-ed hand-ed down on motion of the Equitable Trust company of New York, which, IH as trustee, holds $41,900,000 In tho IH bonds of the Wabash. The motion of the Equitable was submitted to Judge Adams yesterday with the announce-meat announce-meat that a plan of reorganization had been made satisfactory to the trustee and the receivers. The decree of Judge Adams directs that within twenty days the Wabash Railroad company shall pay to the Equitable Trust company $4,325,621 IH as interest on the first mortgage bonds from January 1, 1912, when the road made Its first default in interest payments. New York. N. Y., Jan. 30. The Wa- jH bash railroad has been in the hands of receivers since December, 1911. The authorization for the sale of its properties at auction in St. Louis was a part of the proceedings necessary to effect the reorganization of tho company, which has been in progress since early in 1912. J |