, 1860-01-23


We have recently. noticed a, a-t;r,a in .,,a
Racine .idcooatf. rfirh indirectiv censures
Judge NoexIe for h;Ieindieial conrxs IN Tel,tian
to this Road. Wetbink ths writer of Il intend-
ed to create little vympath7 for its bondhoIa.
ers. Ii this is his object he ccrtaiuly makes bis
appeal At the wrong time and plsce.-We have
no donht the Judge has acted impaftia1ly. and
certainly OF hastily, rs be took several weeks
to consider and examine the question belosc d.
+" cidingit.
The writer says, IN second sober thought.
however, seems to bare come over the JUDGES
mind, aud stay Of proceedings has been grant
ed td-rnablc tile TrusIsss- 10 appeal 10 tGo S,,.
preme Court" Ac., forgetting. probably. that
lin this same nsticle, before thus, the writer had
hdrlsed the public that "afr. Strour, the At
torney for the Trustees. went to Ja6esyille liz
/ Special train, and APPLIED TO the J11ga ToF
+, stay; Of proceedings.h'' 1t ras- finally agreed
between the contending parties that stay
sho:ld be granted, and that the Trustees should
reualn in possession while nm appeaf il beiut.
made and argued before the Suureue Court Of
this State, which is to be decided within sixtv
days. This explains the sober second thouvhts'
Of the Judge. The parties entered into sIipu.
latio0, and the Judge ratified it. and could do
nothing less So much for the Court.
A few words in reniy to that nnr,ion NJ Tho
article expressing sympathy for The hondhoId.
era. IL Is true, a. stated. that uban thev tonk
the road tue COMPANY was bankrunt. They
| owed large amount 10 contractors. aneratirc.
an1 others, who had leborcd Ia hnIli and run
/ the road. Previous to this transfer rh,. bond
| holders had applied to thc Federal {'nurt far
| the appointment Of Il Receiver. and had rou,-
meuced suit to forec!ose their yoa,i marriages
but the company had been 50 successfully. de-
Tended by their attorueYs. CaFpenter aud Carey.
that they concluded to accent lie proposi,ion of
the Company, riz,. "To transfer the road to the
bondholders, they contrsciii to flash the road
| Immediately TO FTeenort. ana nav The oneratiyes
| their dues from first earnings OF thu road. the
| company reseryiuy the riuEt tn redeem within
| fire ye.rs. The fvau has been coupleted "a
Ereeport nt an exrtnse exceedinr what II should
| by one-third. as we arc advised l,v good rail.
| road men, The enornlous exnendttures in one.
/ rating the road lar.e salaries. tr hus satisfied
| the creditors Of tie counany 1Lat ,he buud.
| holders or their agents ini.ni IN mt II mt n,
| the power Of the Colnpouy to redeem, and feel
| ing t5at their claims upon the COMPANY were
as sacred as those Of the bondhoidefs, they
have applied to the Court for relief, +" not Car
penter 4 Rockwell alone, they only leading otf
aud others following, representing near $5Vtvt
for Whuse benefit The receiver il appointed"
l.. The bondholdcrs hare not carried out tl:ei1
arrangement with the Company to the yer}
| letter-that part Of it which the Directors il
! all their negotiations with the hondholders in
| sisted upon rs Il condition of trupsfer. not hay
| iug been performed with the paripr of of tht
| operatives. We understand that tt,sv have re-
ceiyed ouly ten per cent. Of their dues. md tha
many Of them have been compelled 10 sell ut I
large discount their ccrtiticntas +, some nj tb.