Wilmington journal., 1871-07-21

R.IIroads-C Cross-hrtng Between
t.ivaI Com mpa"l~s--An order of Arrest
Against WelI-knewa Bankers.
The State Of Florida, By various leeisla-
tive acts within the past two years. pro-
vided for the consolidation of several raj
ple,ion of such parts as had not been
builr, and to facilitate suoh completion the
Governor was authorized TO issue couoon
bonds of the State to the amount of S16,-
600 per mile in exchange for first mort
gage bonds of the consolidated road.
named the Jacksonville, Pensacola aud
Mobile Railroad Company. The Gov
ernor. about e year ago, did issue 81. 000,-
900 of the eight per cent gold bonds Of
the State in exchange for 5000 bonds of
the Railroad of 81, 600 each, aud 81, 900 900
of the bonds of the Florida Central Rail
road Company. This 81 600, 600 Of State
bonds were placed in the hands Of 8. W.
Hopkins & Co., bankers, London and NV
York, to be sold, the proceeds to be used
for the construction OF the uDcompleted
portions of the road. Hopkins & Go. made
a contract in Europe to dispose of the
bonds, and some # them were delivered,
while large number still rem0in in their
hands. Milton S. LittIrfeld. who at this
time was President of the Jacksonville and
Pensacola Railroad Company, had pre-
viou,Iy held the position OF Presitent of
the North CaroliL q Railroad Company,
having succeeded George w. Swepsuu 10
October, 1869. The North Car .lina Rail-
road Company claim that SwepSon, when
President Of their road, misapplIed large
amount of North Carolina State bonds
issued to enable the company to build their
road and that be purchased with such
funds large amount OF the shares f the
rli.-oad from Jacksonville to q QIiucy.
known as the Florida Central kaiiruad
Company and bond- of other portions of
the consolidated Florida Railroad 1; that
George w. SWepson aft rwards sold
out to Miito4 >. Little field, and that
Lift ede!d becams liaOls to the same
extent Us SwepsOn to the North Caroliu Z.
Railroah ComuAry, that liability amount
lrg to 81, 287 436. ThaS ,upany o'alm
therefore. that tnev had right to take 50
many Of the 81 900 900 of bouds in the
hands of Hopkins GS Co. IS would pay that
sum. Cr'mlual prosecutions we're brought
against S~epson and Lttt)ef lid, and they
were indicted in North Carolina. The Y
b ing in fear Of these CRIMINAL proceed
iDgs, it is claimed, made an agreement
with the North Cato1na Railroad
Company in April and Novemb
1870 giving tht m SO many Of tue
bo. d. iu the bands of Hopkln- & Co ss
W utd pay the 81 zS7 436 claim TO hav,,
Do ~ Es
LIo eh, Id as Present of he Florida road,
,"en wrote TO hopAlus d Co., that the
North G rOliUa 70 nAd u valid c.aim Z pon
d portion of the bonds, aud directing them
to- p ace TO the ord r. OF that conLanv
SSOO OOO OF the tonie. HI ppkins & 20.
aocepCru tue order aud advanced up IA il
tie North Carolina Com . ny $53 766 -
The Florida ConpA"y, or I-arnlng ut tuis
no III Il HOpGln- d 90. that L;ttl~ Il Id s
ag eem' NJ VA "ithout aGiLori y. m / iiie-
gal II: ii voId. h. bond having he eli sued
tn til sole purpose Of the ~ truction of
tIe- Iua /, and ould not be v rted 10 O v
oiher use. BOpk'n. & Co thor-upo re-
tus d t. pay over the balauce TO 6 4, North
CArohua Il Il. TnA' ,upa1y thrn brougt
suit III the Snt RENE Court, In jane last, to
compel euCh paJ mint, snd al nrder of ar
rest WIS grabted against 8 w HupkiUS
aud the two 9th mem bers of the firm. on
the allegation that tn. y he the bo uds or
their proceeds ~ the agents of I'D in a
fduc ary relation to tie North Ca oIina
Railroad, and that they refus ID 20 deliver
them up. Their bail was ixe 1T $3.50 600.
The Florida iTo ID Company tueu
broughs a counte, -sIit, reciti. q ali the
facts. and asking for an Injunction 10 re-.
strain Hopkins il Co., from delivering the
bon 's or their proc els to the n Jrth Oaro
h0a Dad, end to enjoin that road from
prosecuting any suns against Ropkins IL
Go. They also ask that it be decceed that
the bonds sre the property ofathe Florida
road, held i'll faust foa the purposes Of con-
strnction.
Toe case ca ne before Judge Cardozo,
Supreme Coort ChsmAers. yesterday, upon
u motion on the part of the N:.rth Caro-
lima rcad for receiver of the $500, 600 of
bonds 10 controversy, and an iujuuction
restraining their tralsfer; while tie Flor
ida road asked for an Injunction to restrain
the other road from prosecuting their suit;
and Hopkins Co., who stand bet~een
the firing on either side, without having
any special interest as to the final deter
miration of the controversy. seek to have
th6 order of ARE st against them set aside.
On the part of the Florida road it was
claimed that the North Carolina road did
uot own the bonds when they wsre sold.
and n-ver owned them. AIgernon s. Sui
Ivan and Mr.. Garter represented the North
Carolina road, and Messrs. E. W. Slough.
ton, A. F. Smith, and Robert Sewell ap-
peared for the Florida road and Hopkins
q Go. Decision resereed New York
World.
EIgamOus