The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-08-03
MASSACHUSETTS.

Tho Boston, Hartford md Erie Rai'rosA
MISUNDERSTANDING Before fhc sspreuss
COurt-The Newly Appointed Receivers Re-
quired Ia Give Rcnvy Bonds--A Fstt1s
Meeting ~ Indignant Stockholders.
BOSTON. August ,, 1870.
The matter OF the receiyership OF the Boston.
Hartford and Erie Railroad came up In the Supreme
Judicial Couri, in this city to-day Judge Cray. pre-
siding, stated that he lad considered the questions
pertaining TO the decree argued the previous
afternoon, and then proceeded to give has rulingA
In regard 10 the rights of all parties tor future tigs
ton and settlement, he decided that 1t was very
clear that the books should go into the hands Of
the receivers. and that all the property OF the
corporation for the Time beng must 20 into
the hands OF the receivers the attachments OF ere
ditors prories TO the contrary n0twitlst andng.
anu " hose remedy was IN sur OF equity; and thai
the claims Of attaching creditors were poslpO mel To
give priority to the holders OF Che Berde mortgage
while at the tine there snould De a reservation
III the decree that party shai be Invested Of Ms
rights. The next point considered was that OF the
duty ot the receivers in the matter Of employing
funds Tor The protection OF the property 81 tho
psny.
Judge Abbott one az the counsel for the Corp0,
ration, suggested That a sufficient REASONABLE
be mentioned in the decree, 10 onaoe the comDn NJ
10 defend Itself against suits, or which there
about iorty pending IA the States OF New YORK.
Conn ectcut and Rhode Island.
Mr. Ban, for the petitioners urged bat tine decree
Itself fully provided Tor Sncl cOitingcucy and tho
Court ruled To tnat effect.
After arguing some OF the minor technicaIines Of
the decree, and an adjustment OF them TO the aaJS
fncIOn Of all concerned the gentlemen appoint ted
receivers Messrs James W. Converse Otls Nor
cross Thomas ". Pierce, or Boston; George OH.
phant of New York. ami George NJ. Bartholomew,
VI Hartford, were approved, and they were required
10 give bonds IN f5O,UOO and Tile the same within
twenty days. subsequently ~ WAS consented tntt
their bonds should he $25.ooo Tor each In each ~
the four states.
Mr. Bartlett then presenieda petition from Messrs
onion MunsOn. whO are bOndhOderS well
attaching creditors, praying that they might be-
come parties DEFENDANTS, having Withdrawn all
rights "a plaintiffs. The Court AMENDED the de-
cree.
Mr.. Bartlett then said tnat he should take an an
peal from the decree the full court. He
ectcd having IL STAGED thai his Gil
ents nol DESTROYS OF preserving the road the
question O pedging the lease and earnifgsOf Tho
Norwich and Worcester road was decided 10y the
Court AFTER uisSuSsiOn Dy deciding, nothing
could be pledged except the lease anu proceeds ~
raise the money needed 10 preserve H. IL WAS also
! ordered that copy oi the decree, The material
portions Of H. he published, according ~ lae law 40
| such cases mado aDa provided, Ia o eew spapeg pub
Isted In each OF the States m ghirh II ocatca ne
property OF the compan3-
Toe adjourned mcotiiiy ~ stockholders 81 this cor
DOratiOn was then he'd ne rfrsidents aud direc-
tors room. The President stm tiar q tte court
had appointed receivers iOr glIG road lie power
consider matters tor Wh.cu the meeting vas called
was taken away, anC 4terelO.e business could
he IRA ns0cied.