Drascovich

On June 28, 1916, all the property of the Western Pacific Railway Company was sold at a foreclosure sale under a first mortgage securing first mortgage 5 per cent. 30-year gold bonds of the Company in the sum of $50,-000,000. The minimum price at which the property could be sold was fixed by the decree at $18,000,000. Francis Krull was appointed special master, to make the sale, receive the proceeds thereof, and apply such proceeds in accord with the terms of the decree and order of the court supplementary thereto.

On August 29, 1916, and September 6, 1916, orders were duly made in said cause, confirming the report of the receivers in said action, and determining, and ordering paid from the funds in the hands of the special master, the amount of compensation of the receivers and their counsel, fixing the amount of expense and compensation of the plaintiff trustee and its counsel, and ordering the payment thereof from said funds in the hands of the special master, and fixing the compensation of the special master to be paid, upon tho completion of his duties, out of said funds.

After deducting from the $18,000,000 the amount necessary for and paid in cash on account of the…