Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1868-02-05

that said Mortgage was duly recorded in ths
several Counties Of the States Of New York,
hehnsyiTania and Ohio, through OF into which
lne seld Hallway runs or in which the said
mottgaged property and premises are situated
mar AFTER the execution Of said Mortgage said
AtlanIc and Great Western Railway Company
Gconsohdated) set apart a portion Of its said
bon9s. 70 the amount Of sixteen million one
nun9rel anu ,tory-twO thousand dollars, which
Goa He1e deposited in. the hands Of John
1oo5ard and BENJAMIN Moran, in the city Of
LOIloh. EnZland. for the sole purpose q being
e1e5anged, dollar for dollar, for said sectional
DGlus. 1nat at the time Of the execution Of
sectional bonds outstapdi1g wss sone-bof -
than the Lotal issue Of bonds secured by said
sScLonal Mortgages- That since that time eN-
hange OF sectional for consoIidated bonds
have been made 70 the amonnf ~ sLc1t 49,
million I'VE hundred and twentv-one fbonSand
six hundred dollars; that after me exeeution Of
E4la aIoItgage. ne said Atlantic and Great
western Railway Company (eonsOIidatedl aIso
Issued and delivered its said bonds numbercd
from number one to number twelve fLo,s1aJ
both numbers inclusive. to divers and npmsr,
Gus persOnsWho advanced 10 the said corpora-
ton the money thereupon. according 5 ne nn--
poses expressed in said MOrtgngs. and that ssid
bonds. have come to the hands OF nunerouS
owners and holders thereof, respe.tiveIv- WHO
are entitled to the benefit OF said MortS1re md
the security thereof That the plaintiffs don0t
Know the names Of all the owners Of said bonds.
but they are too numerous to be made parties
to the action, without exposing the same to
great delays, from statement By death and 9th
erwise; that the plaintiff, Coleman. is the owner
n holder Of warrants for interest which ac-
erued on said consolidated bonds. on the 18th
day Of July, 1865. to the amount of one humid
red thousand dollars, and that such warrants
were or or subsequent 70 thst date. duly pre-
sented at the ONCE Of said Company in the city
don. where the same. were payable, and pay
ment Thereof demanded. which was refused {:
that rs plaintiffs believe, some portion Of the
warrents Tor the interest due on said bonds on
Nhn NIHh AmUg ~ Ianw-ru H. 80 -. - nHu-
that day. thus duly presented for payment, and
that none Of them were paid; that the plain
tits are unable to state what amount Of said
consolidated bonds have been issued besides
those above stated. but believe considerable
additional amounts have been issued and are
outstanding that in addition to such bonded
liabilities there are now outstanding and held
by various persons other debts and obligations
Of said consolidated Company 10 very large
amounts, that among such debts the plaintiff
Coleman, as Official Liquidator Of the Bank Of
London. as Aforesaid, is he holder Of obliga-
tons Of the Company to the amount Of several
hundreds Of thousands Of dollars. that the said
consolidated Company Is wholly insOlvent, and
unable to pay its debts tina the plaintiffs.
Quincy, Motley and ksnnard. as Trustees, are
the owners and holders ofbetween five and six
millions Of dollars o. the bonds secured By said
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
company mas no means WIKI winch 10 DAY Lue
intereStdu or to become due on any Of said
bonds, and that the property Of said Company
Is insufficient security for the payment even OF
said consolidated bonds. That the business and
profit and prospects Of said Railway. depend
upon its being kept together. and operated as An
entirety. That plaintiff Coleman. has applied
to his eO-plaIntifs to unite with him in bring
ing this action for the enforcement of said con-
solidated mortgage and for the appointment Of
areceIver hereunder, and also made the same
application to the said Trustee, Penn,and offered
TO indemnify him therefor. but he refused 50 to
do; that said Penn is aman of no property. and
the plaintiffs are unwilling that he should pro-
coed alone. to enforce said Mortgage /; that no
other suit or action has been commenced to en-
force either Of the said Mortgages.
The prayer Of said petition il. that a receiver
may be appointed Of all the property, real and
personal. rights, privileges and franchises en-
braced in said Mortgage, to- the defendaatPenn,
or Intended so to be. with the usual powers and
duties Of receivers in such cases, and with such
special powers for the custody. preservation,
maintenance and continued operation Of said
Railways and Mortgaged premises as 10 the
Court may seem proper; that said consolidated
Company may be ordered to deliver the same
TO the receiver. TO execute all deeds, assign
ments and transfers that may be necessary to
vest the same in him as receiver; that an &C
count may be taken of the bonds issued By said
consolidated Company, secured by said Mort
gage. to aid Penn as Trustee, and Of the amount
Of principal and interest due thereon, and that
thenames Of said owners or holders ofsaid bonds
or Of the warrants for interest thereon, may be
as~certained: that the said defendant, the At
lantic and Great Western Railway Company.
consolidated. may be ordered and directed to
pay the plaintiffs, and the owners. and holders
Of such bonds or interest warrants. OF either
OF them. the principal sum Of money due them
respectively. from said Company thereon, to-
gether with all arrearagcs Of interest now due,
or that hereafter may become due, and payable
Their con, together with costs and charges Of the
plaintiffs in that behalf sustained that it may be
declared BY the Court. that the income and
nrnhFc nN thu sid QaUwa.1 I'D MA-&.-.-A
premises and property. after the payment OF
the costs and expenses Of retaining and main
tanning. and operating the said Railways, and of
such reoeiyership, and ofthese proceedings. be
applied TO the payment of the interest on the
bonds secured By the said divisional Mortgages
outstanding. and then to the payment Of the
interest 1non the bonds secured BY thesaid con-
solidated COmpany's Mortgage to the defendant,
Penn that the defendants, and each OF them
except only the Trustees Of the said several
sectional aud branch line Mortgages herein
Aforesaid, and said Penn-and AL persons claim
ing oy. from. or under them. or either Of them
Except by or under such Trustees. CT any Of
mem may be barred and foreclOsed Of all rights,
claims lien, and equity Of redemption in said
safe Of the same-sueect.. nevertheless. to the
PRIOR lien and claim Of the said several sec
uonal Mortgages as 20 the sections Of such Rail-
PrfyS h heas&ma1 5s as 55 40 E fhsf an E Ra5IE.g are e
the Atlantic and Great Western Railway Com
pany, consolidated. together with all its prop
srty. real and personal, in its said Mortgage
described. as MortgaEed. or intended 70 be,
may be sold under the order and direction OF
me Court. and the proceeds thereof. applied 10
the payment Of the costs and expenses Of the
action. and Of the receiFership, and then to the
interest remaining unpaid on the said division
al bonds. and then 10 the said bonds of said
consolidated Company; thai the defendants,
and each Of them. may be adjudged TO abide By
and perform the order and Judgment Of this
Court in and about the premises; and that the
plaintlns may have such further or other re-
het as TO this Court shall seem meet. and Just,
and equitable.
TIT said Azariah c.. FIagE, and Frederic G..
Sehuchardts Trustees as aforesaid, and he said
John X. Penn. Trustee as aforesaid, are requi-
red to answer said petition on OF before the 2lst
day Of March, 1858,
SAMUEL GURNEY,
JOHN P. KENNARD. Trustees.
& CHARLES M0ZLEY.J
And James T.. Coleman. official LiQuidatOr
q the Bank OF London By ClarksOn y. Potter,