Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1868-03-04


million Eve hundred and twenty-ope thousand
six hundred dollars; that after the execution o
said Mortgage. the said Atlantic and Grea
western Railway Company (consolidated). alss
! Issued and delivered its said bonds numbered
from number one to number twelve thousand
] botn numbers inclusive, to divers and numer.
Gus personsWho advanced to the said corpora.
uon the money thereqpon. according to the pur
poses expressed in said Mortgage, and that saic
bonds, have come to the hands Of numeroU,
| owners and holders thereof. respectively. who
| are entitled TO the benefit of said Mortgage and
the security thereof That the plaintiffs do no
know the names Of all the owners of said bonds
but they are too numerous to be made parties
10 the action. without exposing the same tC
| great delays, from abatement by death and 9th
| orWlse; that the plaintiff, Coleman. Is the oYrel
I and holder of warrants for interest which ac-
| crued on said consolidated bonds. on the 18th
/ day Of July, 1856. to the amount of one hund-
red thousand dollars, and that such warrants
were on or subsequent to thst date. duly pre-
| sentsd at the ofiee 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
| ment therof demanded. which was refused
| that as plaintiffs believe, some portion Of the
/ varrents for the interest due on said bonds on
/ the 18th day Of January 1901, were on or after
that day. thus dulepfesented for payment. and
that none of them were paid; that the plain
1 tifs are unable 70 state what amount Of said
| consolidated bonds have been issued. besides
those above stated. but believe considerable
additional amounts have been issued and are
I
| liabilities there are now outstanding and held
by various persons other debts and obligations
Of said consolidated Company to very large
amounts, that among such debts the plaintiff
Coleman, as official LiguidRtor Of the Bank OF
London, as aforesaid, is the holder Of obliga-
tions 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: that the plaintiffs.
Quincy, Motley and kennard, as Trustees, are
the owners and holders ofbetween five and SIX
-nFA IS -adk
sectional and branch limo Marriages. and that
the warrants for the interest thereon, hereto
lore matured, have been duly presented for
payment. and no part thereof has been paid
That said Atlantic and Great Western Railway
Company has no means with which to pay the
interest due or to become due on any Of said
bonds. and that the property Of said Company
said consolidated bonds That the busine ess 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 cO-plaintihs to unite with him in bring
ing this action for the enforcement Of said con-
sOlidated mortgage and for the appointment Of
a areceiver hereunder. and also made the same
application 70 the said Trustee, Penn, and offered
to indemnify him therefor, but he refused so TO
do; that said Penn is a man Of no property, and
the plaintiffs are unwilling that he should pro
coed alone, to enforce said Mortzage that no
force either Of the said Mortgages.
The 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, tothe defendant Penn,
or intended so to be, with the usual powers and
duties Of receivers in such eases, and with such
special powers for the custody. preservation,
maintenance and continued operation of.sAid
Railways and Mortsaged premises as to the
Court may seem proper; that said consolidated
Company may be ordered TO deliver the same
to the receiver, and to execute all deeds. assign
ments and transfers that may be necessary to
vest the same in him as receiver; that an ac-
count may be taken of the bonds issued BY said
eonsolida TED Company, secured by said Mort
Of principal and interest due thereon. and that
thenames ofaaid owners or holders 'ofsaid bonds
or of the warrants for interest thereon, may be
ascertained: that the said defendant. the At
consolidated, may be ordered and directed to
pay the plaintiffs, and the owners, and holders
of such bonds or interest warrants, or either
of them, the principal sum of money due them
respectively. from said Company thereon, to-
gether with all arrearages OF interest now due,
or that hereafter may become due, and payable
ther con, together with costs and charges of the
plaintiffs in that behalf sustained that il may be
declared By the Court that the income and
profits of the said RailwaysSand Mortgaged
premises and property after the payment of
the costs and expenses Of retaining aad main
tanning. and operating the said Railways. and of
such recaivership. and Of these proceedings. be
applied to he payment Of the interest on the
bonds secured Dy the said divisional Mortgages
OulSLduulnkt anu lQel 70 I1e payment OF Inc
interest upon the bonds secured by the said con-
splidEted Company AoTtgage to the defendant,
Penn; that the defendants. and each Of them
except only the Trustees of the said several
sectional and branch line Mortgages herein
and said Penn-and al persons claim
ing BY, from. or under them, or either Of them
except by or under such Trustees, or any Of
-hem) may be barred and forecl0sed Of all rights,
,laims, hen, and equity Of redemption in said
NJ Aortgaged premises. and that decree for the
ale OF The same-sueject nevertheless. to the |
2rlor hen and claim of the said several sec
lonal Aortgages as to the sections Of such Rail-
Ways respectively, as TO which the same are /
PRIOR nens-may be made; that said Railway Of |
he Atlantic and Great Western Railway Com |
,any, cOnzolidated. together with all its prop |
,rty. real and pers0nal, IN its said Nortgage |
described. as Hortgaged. or intended 10 be, |
nay be sold under the order and direction Of |
ne Court. and the proceeds thereof. applied to |
he payment OF the costs and expenses of the |
.ctlon. and o. the receiyershiP, and then 70 the
interest remaining unpaid on the said division /
u bonds. and then to the said bonds Of said /
consolidated Company that the defendants /
nd eacn Of them, may be adjudged to abide by !
md perform the order and Judgment Of this |
iouFt u snd about the premises; and that the
,lalntlns may have such further or other re-
md equitable.
The said Azariah c. FIagg, and Frederic G. |
,chneharat, Trustees as aforesaid, and the said |
ON h. Penn- Trustee as Aforesaid, are requi- 1
ga y 20 F1aswer saia petnon on or bsfors the list
JOHN P. KENNARD, lTrustess
r. CHARLES M0ZLEY.l
And Jomss Z. Coleman. official Liquidator |
i the Bank Of London. By Ciarkson n. Potter, |
heir Agent and Counsel.
Jan. q, lS5s-6E.
BANKRUPTCY