Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1868-02-12

sectional MortgaEes.. That since that time ex-
changes OF sectional for consolidated bonds
million i've hundred and tWenty-one thousand
SIX hundred dollars; that affer the ~ ecution Of
sad MoTtgsge, the said Atlantic and Great
issued and delivered its said bonds numbered
/ ION Hoih numoer one TO number twelve thousand.
ooth numbers inclusive. 70 divers and numer-
tos ?I,sens VINO advanced to the said corpora
lon me money thereupon. according TO the pur-
/ poses oppressed IN said Mortgage, and that said
oonds, nave come to the hands of numerous
.1 5nd holders thereof respectively who
| the security thereof That the plaintiffs do not
Know the names Of all the owners Of said bonds,
ou! tney are too numerous to be made parties
% the action without exposing the same TO
great delays, from abatement By death and 9TH
erEise; that the plaintiff. Coleman, is the owner
ued sd Si boS5s oI T1ss ne
| day Of July, 1855. to the amount of one hund-
red thousand dollars, and that such warrants
were on or subsequent 10 that date. duly pre-
sented at the once of said Company in the city
Of New York. and its agency in the city Of Lon
don. where the same were payable, and pay
that As plaintiff believe, some portion Of the
warrents for the interest due on said bonds on
the 18th day of January 1867, were on or after
that day. thus duly presented for payment. and
that none Of them were paid; that the plain
uhs-1re unable to state what amount of said
consolidated bonds have been issued, besides
those above stated, but believe considerable
outstanding; that in addition to such bonded
liabilities there are now outstanding and held
oy various persons other debts and oblieations
OF said consolidated Company to very large |
amounts. that among such debts the plaintiff /
Coleman as official LiquidatOr Of the Bank Of /
London. as aforesaid, is the holder Of obhga- i
tons Of the Company to the amount of several /
hundreds Of thousands Of dollars. that the said |
consolidated Company Is wholly insolvent. and /
unable 70 pay Its debts; that the plaintiffs. /
Quincy, Motley and Kennard. as Trustees, are /
the owners and holders ofbetween Eve and six /
millions Of dollars Of the bonds secured By said Il
sectional and branch line Mortgages, and that /
the warrants for the interest thereon, hereto
fore matured. have been duly presented for
payment. and no part thereof has been paid
That said Atlantic and Great Western Railway
gSmpa1y IA: no o means with which e pay the
bonds. and that the property Of said Company
Is Insufficient security for the payment even of
profit and prospects Of said Railway. depend
upon its being kept together, and operated as an
entirety. That plaintiff Coleman. has applied
TO ms eo-plaintits g unite with him in bring
ing this action for the enforcement of said con-
mortgage and for the appointment of
q receiver hereunder, and also made the same
application to thesaid Trustee, Penn, and offered
70 indemnify him there refor. bat be refused so to
do; that said Penn is man of no property, and
the plaintiffs are unwilling that he should pro-
esed alone. to enforce said MORTGAGE that no
force either Of the said MORTGAGES.
Ihe prayer OF said Petition Is, that receiver
may be appointed Of all the property, real and
personal rights, privileges and franchises en-
braced in said Mortgage, to the defendant Penn. Il
or intended so to be, with the usual poWers and
duties Of receivers in such cases and with such
speelal powers i9r the custody. Preservation,
hdlEays and MerEaged premises Is 10 the
Court may seem proper; that said consolidated
Company may be ordered 70 deliver the same ,
nents and transfers that may be necessary to
Eest the same in him e. reeeiFert that an ae-
,Ount may be taken Of the bonds issued b. said ;
consolidated Company, secured by said Mort
age. to said Pennsas Trustee and Of the amount
i principal and interest due thereon. and that
he names Of said owners or holders ofsaid bonds
Iseertained: that the said defendant. the At
antic and Great w estern- Railway COMPANY,
nsolidatsd. may Be ordered and directed to
'ay the plaintiffs. and the owners, and holders
{ such bonds or interest Harrxots, or either J
< rnem, the principal sum of money due them :
esPeeuFe1yr rom said Company thereon. to- .
z that hereafter may become due. and payable 7
her con together with costa and charges Of the '
laintihs N that behalf sustained that II may be
sSs al e i me s Sepss tS1t tss ainSGns snd
renises and Rroperts. after the payment Of
be costs and expenses Of retaining and main
aiming. AID ePersting the said Railways and Of
1eh reeeiEerahipa and of these proceedings. be 7
pplied 70 the payment of the interest on the /.
onds secured By the said divisional MORTGAGES 1
utStandmg, md then to the payment Of the 4
n
Undated Company's MORTGAGE TO the defendant, .
enn; that the defendants. aud each Of them (
xcept only the Trustees Of the said several II
scuonal and branch line Mortgages herein
loresald, and said Peun--and all persons claim D
ig by. rom. or under them. or either Of them Fl
xcept BY or under such Trustees. or any Of !
lemD may be barred and foreclosed Of allrights, Q
aims. lien. and equity Of redemption In said D
Lortgaged premises, and that decree for the u
iie Of the seme-sucjeet, nevertheless, TO the q
nor iien and claim Of the ssid EeYerd sec A
onaI Aorgages as 20 the sections Of such Rail {,
.ys RESPECTIVELY as 70 which the same are Il
1or llene-may - laedey fIht 1nill 4ailrer-ofi -
NY consolidated. together with ali it's prop al
u, re9l and persorzi, IN its said Morteags y
'scftbed. e Moftgagvd. or intended To- be,
ay be sold under the order and direction Of n
70 Court and the proceeds thereof. applied to y
. payment Of the costs and expenses Of the ~
uon, and o. the receiYership, and then to the II
terest remaining unpaid on the Eaid division Y
bonds. and then 70 the. said bonds Of sad
nsoHdated Company; that the defsr1Gnts 81
d each Of fhen, may he adjudg Cd 10 sbide b. Il
d perform the order and Judgment of tris .
1urt N and about the premises; and that the q
alntins nay hGre such further or other re- Ct
= y as 70 thH oourt snail seem meet. and Just. Il
The said Assrish G. FIagg, aAd Frederic G. U
nuenardt, Tr1s tees as aforesaid. and the said
nm h Penn. GTustee as aforesaid, are requi- \
e 70 easEsr g ID Petition on or before the 2lst
? SAMUEL GURNEY, ~ TTn :,
i JOHN p KENnARD, Trustees. -
4 CHARLES MOTLEY - y
And james E. Coleman. official Liquidator n
ne Bank of London By Clarkson n. Potter, q
cir Agent and Counsel. .
an. y, lS6S-eE. a.