 A judgment of foreclosure and sale was entered on February 3, 1877 and George S. Wardwell was appointed as the referee to sell the company.On September 11, 1877, all the property and franchises of The Buffalo and Jamestown Railroad Company were sold for $1,000,000 to Abraham Altman, Jewett M. Richmond, William H. H. Newman, John F. Moulton and Wilson X. Bissell, as a committee of bondholders.The referee's report of sale was dated November 26, 1877, and the order confirming referee's report of sale made at a special term of the Supreme Court held at Buffalo on November 26, 1877.