The Maritime History of the Great Lakes
Daily News (Kingston, ON), April 3, 1858


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p.2 Niagara Ship Canal - on American side discussed in Ohio Legislature. [Oswego Times]

The Lake Navigation Company's Sale - at Chicago 61 sail vessels and 5 steam tugs for sale (+ad on page 3) [Buffalo Commercial Advertiser]

p.3 auction sale of machinery from burnt steamer Trenton.

PUBLIC SALE OF VESSELS AND TUGS

By the Receivers of the

LAKE NAVIGATION COMPANY

L.K. Plimpton - Auctioneer

The undersigned, Receivers of the Lake Navigation Company, will offer for sale at Public Auction the property hereinafter described (or such parts thereof as shall not be previously sold at private sale), on Tuesday, the 13th day of April next, at 11 o'clock, A.M., in the Rotunda of the Merchant's Exchange, viz:-

Name of Vessel Tonnage Capacity of Bushels

Schooner Altair 412 88/95 18,000

Arcturus 412 46/95 18,000

Antares 176 46/95 8,000

A.J. Rich 374 74/95 16,500

Bay State 340 40/95 15,800

Brig Canopus 386 93/95 17,600

Schooner Clifton 165 10/95 7,300

Collingwood 379 03/95 16,500

Contest 359 35/95 17,500

Comet 478 16/95 20,000

Corinthian 268 83/95 16,500

Correspondent 293 43/95 14,000

C.N. Johnson 368 68/95 17,500

Circassian 366 20/95 16,500

Dardanelles 308 08/95 14,500

Dauntless 436 08/95 19,500

Die Vernon 414 04/95 18,000

Brig Empire State 396 67/95 17,000

Schooner Enterprise 296 14,200

Eliza Logan 369 66/95 16,500

Fox 405 09/95 16,000

Barque Grace Greenwood 377 42/95 19,600

Great West 765 53/95 29,000

Schooner Game Cock 255 71/95 12,000

Golden Harvest 376 17/95 16,500

G. Worthington 304 54/95 14,500

Grey Eagle 380 91/95 17,000

Brig Grey Hound 367 15,000

Globe 319 77/95 14,500

Schooner Hurricane 331 87/95 14,500

Hiawatha 308 83/95 15,000

International 389 17,500

Invincible 438 80/95 19,500

Imperial 437 80/95 19,500

Barque John Sweeney 405 60/95 18,000

Schooner Kate L. Bruce 310 58/95 12,200

Brig Mechanic 312 26/95 15,000

Schooner Millard Fillmore 385 64/95 17,200

Minnie Kinnee 310 58/95 12,500

Messenger 353 38/95 17,000

Brig N.M. Standart 480 47/95 17,500

Schooner Nightingale 423 35/95 16,000

Ostrich 369 16,500

Osprey 247 64/95 12,000

Petrel 208 71/95 10,000

Perseverence 294 14,200

Racer 374 43/95 17,000

Richard Mott 296 94/95 12,500

Rival 403 40/95 18,000

Rebecca 355 11/95 12,500

Rocket 478 38/95 20,000

Storm King 375 37/95 17,000

San Jacinto 374 43/95 17,000

Sophia Smith 357 82/95 16,500

Sea Bird 381 73/95 17,000

Three Bells 305 49/95 12,500

Brig William Treat 545 84/95 26,000

Schooner William Fisk 401 17/95 19,000

West Wind 255 58/95 11,000

Wings of the Wind 370 16,500

W.B. Hubbard 294 15/95 14,000

St'm Tug Leviathan 315 64/95

Rescue 285 29/95

Lion 150 14/95

Dart 84 47/95

Dime 47 60/95

Also, all the Miscellaneous Property of the Company, consisting of Anchors, Chains, Sails, Rigging, Spars, Timber, etc., etc., etc.

All of the above named vessels are in the port of Buffalo, except the schooners Die Vernon, Racer, Altair, Richard Mott, the Brig N.M. Standart, and the Tug Dime, which are in the port of Chicago; and the Schooner Minnie Kinnee, in the port of Milwaukee, and the Schooners Game Cock and Enterprise, and the Steam Tugs Leviathan, Rescue, Lion and Dart, in the port of Detroit, and the Schooner West Wind, in the port of Oswego.

The Terms of Sale Will Be As Follows.

Twenty five per cent cash down, Five per cent of which to be paid at the time of sale, and the balance on delivery of the deed of conveyance. For twelve and one-half per cent of the down payment as above named, satisfactory endorsed paper, payable with interest in 60 days at some bank in Buffalo, will be taken instead of cash. The one-half of the balance of the purchase money to be paid with interest in four equal payments, on the 1st of July, 1st of September, 15th of October, and on the 1st of December next. The other half with interest, to be paid in four equal payments on the 1st of June, 1st of August, 1st of October, and 1st of December, in the year 1859. All of which sums must be secured by notes and mortgages on the property sold, with insurance policies on the same, in Companies satisfactory to the Receivers, and to an amount equal to the balance of the purchase money remaining unpaid.

The Stock of the Company will be received on the following terms:-

Twenty-five or any less per cent of the amount of each sale, the Capital Stock of said Company will be received as additional collateral security, at the rate of 25 per cent on the original stock, and the per centage so secured two years time, from the 1st day of the present month, will be given on the amount - which per centage may apply and be substituted as the first cash payment for an amount all over and above twelve and one-half per cent.

The indebtedness of the Company will also be received as additional collateral security at par, for any amount of the purchase money at the time of the sale, after first receiving 12 1/2 per cent in cash, and the time of payment will be extended for two years from the first day of the present month, if a sufficient amount of the indebtedness of the Company be turned out to the Receivers to cover the remaining purchase money in full; but if a less amount of the indebtedness of the Company be turned out as collateral security, then the time will be extended only, on such indebtedness, in the proportion which the same bears to the several instalments falling due in 1858 and 1859, and be payable pro rata at those times.

All valid admirably claims, and other valid liens on the property will be received as cash, on the first or any subsequent payments.

The form of the Bill of Sale and mortgage, inventory of property and all other information in possession of the Receivers, will be furnished at their office in Buffalo, at any time previous to the day of sale. Dd Buffalo, March 25, 1858.

Stephen V.R. Watson,

Elbridge G. Spaulding,

Gibson T. Williams,

Receivers of the Lake Navigation Company


Media Type:
Text
Newspaper
Item Type:
Clippings
Date of Original:
April 3, 1858
Local identifier:
KN.20083
Language of Item:
English
Donor:
Rick Neilson
Copyright Statement:
Public domain: Copyright has expired according to the applicable Canadian or American laws. No restrictions on use.
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Daily News (Kingston, ON), April 3, 1858