The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-10-04
IMPORTANT RAILROAD DECISION


At this time, when some of our railroad compa-
MES are in trouble, and much perplexity is felt as
to the disposition of the surplus funds which NAV
accumulate in the hands of the receivers we think
it opportune to publish the following important de-
cision of Judge Mclean, in the case of the Chic
Central Railroad, having direct bearing on the
subject, which we extract from the American Rail
road Journal.
OHIO CENTRAL RALRoAD.-The United States
Court, sitting at Cincinnati has granted an appli-
cation to place the Ohio Central Railroad in the
hands of receiver. The Court appointed H. S.
Jewett, the President of the road, receiver, and
fixed the bond at 10000, which was given
The applicant in this instance is George S. Coe,
OF New York who, in his petition, represents that
the Ohio Central Company had made mortgages to
him, as the trustee of other parties to the amount
of over 81, 100000. On large part of this sum in
terest IS in arrears since the fall of 1857 His bill
sets forth the existence of other mortgages, in all
amounting to 81, $50, 000 and aso that the compa-
ny largely indebted to other parties is greatly
embarrassed and utterly insolvent. He therefore
asks that the road may be sold and the proceeds ap
piled to the payment of the debts against it.
The Court, in appointing Mr.. Jewett receiver
directed him to operate and protect the property of
the road, as he shall deem proper and requiring
him to deposit the surplus earnings of the road in
some Bank in GAINESVILLE or other place along the
line and to file monthly statements of the receipts
disbursements and liabilities He is to have CON
troll over the officers and employees of the road ex-
cept the Directors, Treasurer and Secretary and is
required to give bonds in $50 900 for the faithful
discharge of his trust The surplus earnings are to
be applied as follows:
list. To the payment of all debts due for labor
materials and supplies furnished the company with
in the six months prior to the date of the decree
and to balances due for construction.
I'd. To the payment of all sums borrowed to
pay interest up on the mortgaged debt, for la
Dor or materials, for the payment of which any
former or present officer of the company, or any
Bier az the instance OF such olceF may be la
Sd. To the payment of any loans made in good
faith by any past or present director, for such pur
4th. To pay attorneys fees, &C., for services to
compliments in suits pending terminating at the
filing of the bills and for similar services for the
company.
9Th. To the payment of the taxes upon the road.
9Th. To balances due for right of way.
It'll. To discharge liabilities of any person who
may have become surety at the solicitation of the
complainant of the company in the prosecution or
defence of suits, designed to protect the company
against third parties.
Sth. To refund to George Bartlett the money ad-
vanced by him, at the instance of John H. Sullivan,
then President of said company, Immediately be-
fore said road was put in operation and all securi-
ties held by parties liable for claims covered by the
I'd, Sd and 9Th articles, to indemnify them against
loss, or held by any claimant security for the
payment OF his claim, to be transferred to the
Receiver, to be applied by him to the same uses
to which the money would otherwise be applicable.
TRIAL TRIP OF THE U. S. STEAMER CRusADER.-
Under the name of the sfSouthern STAR" this YES
sci with four of the famous "Cromwell line') was
chartered to proceed to Paraguay. Subsequently
Congress passed law authorizing the purchasing
OF these vessels and in June last commission of
Naval officers examined and reported upon such
necessary changes as would render these purchased
vessels efficient for Especial SERVICE" Two of them
the Mystic and SUMTER have been sent to the coast
OF Africa. Better vessels for that service it is said
could not be selected. The Mohawk and Wyan- |
dotte have already sailed for the coast of Cuba and
the Crusader will speedily follow. On Thursday |
last, this last named vessel had trial trip on the
Delaware, and report speaks very highly of her |
performance, though she was in bad sea trim, hav
large supply of coal abaft. The arrangements for |
comfort and efficiency, it is said, have never before
been surpassed in any of our laval vessels. The |
gun deck has ten of Dahgreen's handsome brass |
twenty-four Founders. As especial service YES
sci, she will be particularly serviceable The Cru
sader goes into regular commission to-day, at ten
A. NJ. when the Senior Flag Officer of the Ameri-
can Navy, gallant cold Ironsdes," will visit her,
and be received in proper and becoming manner. |
She will then sail for her destination. The follow
ing is list of her officers: fs4..-.~
Lieut.. Commanding, J. N. Mafit, Lieuts
Thos. R9ney, J.. E. Jouett A. E. X. Benham;
Dean First Assistant Engineer, j. A. Grier; Third
Assistant Engineers, L. Campbell, o. FL. Lackey,
VIM. Musgraye Captains Clerk, S. II. Wilson;
purser's Clerk, P. G. KENNEDY; Masters Mates,
NJ. II. Stacey and w. II. Wilson, Philadelphia
Ledger. -..; ar.il tssR Il +. ta5 So
At Hickman, Kentucky, two desperate men,
named Hedgefoot and Smith, who had frequent
quarres, met near wood, both being armed
Hedgefoot told Smith to prepare to be shot, dis
charged his gun in his stomach, and lodged behind
A tree, Smith, unable to stand, wilted and waited.
In about five minutes Hedgefoot looked out to see
if he was dead and Smith put load through his
mead, killing him instantly. Smith died next day.
That finished up the quarrel.
WIsTARs BALsAM OF WILD CHERRY.-We call the at
enon of readers to the advertisement OF Wistars
3alsam IN |
hem they find better remedy for coughs colds,
sthma bronchial affections disease OF the throat
n lungs A'i fta.-
In August 1858, esmable friend of ours returned
rom visit to the country much emacated and aborng
inder cough which had such rapid inroads
lpon her constitution that felt something must be
lone at once she would become victim of consump-
ion. Having known the beneficial results which have
occurred from the use Of Wistars Balsam made pur
base of for her. and happy say that before
he had taken the content of bottle cough had
ntrely left her. and she is in the enjoyment OF ex
client health-Oire Branch, June rs, 1852