, 1873-08-02
: THE $22,O00,000 CASE.

THE $22, 100000 CASE.
A succinct Statement OF Its rOints--
10 Tho Ieouda GnvOlycd--Thcir Stocik%
bonds, nuL CondittO1a.-'Tho tafst 0f
Complaint md 1)oKenpe".Aho lscnl
1nrtlua. ...
-, From tho papsnpot tIo,sa, gazette. yaIy 81;
Wo roforrod yebtorlRy to tho great railroad
case now being hoard boforo Judge. Dillon, IN
chambers, on application Of Leon Wl1mnr and
othora, OF, behalf OF bondholdczs for the ap-
point1nont Of Receiver. Ia order to fully
tcr1,ity muHt tnko railroad-nap Of Minnosotn,
find thereon tho City of st. Paul, md thon traeo
therefrom tlte lines Of tho first division Of tho
St. paul 4 Pacific llaroaa Company, tho By; Paul
llnilroad Company, which thoy will fnd as fol-
First-Tho line extending from St. Paul to
sauk Rapids IL 80 inimoB in length, Ia known hs
tho Drsnoh line aud was built % during she yoats
from st. Paul to St. Anthony. Was tho first rail.
road constructed In Minnesota. This branch Of
80 mtlos in owned by. 7a6o,ooo Of stock md Is
mortgagod to secure tho payment OF II throo sota
Of s70o.6o0, and Quo sot Of q, ,220, 900. all Of
which wore sold In this country, and the pro-
ceeds used In tho construction Of said Branch
line and aro now hold mostly by tho original
parties taking tho Hame.
from St. Anthony and Minneapolis to Brooke
inrldRe Is known ns the Main line, which
is owned by 100000 of stock, and is
mortgagea To- secure the n e. Of o throo 5
ono sot at s0,000,000; ono sot ut 93, COX, ,o0o,--
tho first s3 900, 900 Of which woro disposed Of in
this country, and the oshor s9,0o QUO, Or that
portion OF tue same which have been so!d, Wcro
n)acod Of Amsterdam and takon muatly BY Hol-
fauders. This main limo was constructed during
tito yeara 1860 to 1871, is POT miles in length,
extending across tho State OF MINNESOTA, and
through flle richest part thoroof, which Ia now
rapidly sottling, mostly with foreign immgra-
tion.
7Nird-That limo Of railroad extending from
Saul. Rapids to Brainard. aad that limo extond-
ing from st. Cloud to St. Vincent. known % the
st: Paul d Pacific Railroad:1tho first being: GU
Of this line and this il tho portion now being
constructed, and out Of which construction tho
suit and application now pending before Judge
Dillon originate.
This last Company, In order to got thoir road
built. matlo trade with tho ownors Of the
aforosaid Main and Branch lines. to iasuo 916.-
000, 900 of bonds, which woro to bo sold, and
which wore to DO secured by mortgage on the
said limos from sank napids to Brainard, and
and franchises belonging thereto, md the eaid
Min and Branch lines tnking. loaBo OF gnid
roads for torn Of ninety-nine yoars. This
trado WIS consummatod IN 1871, md tho sl5,-
Of tho lam Isnkinghouso Ing n Of 1pman Rosontal son
Co., ct Amsterdam, Holland, through tho hands
Of Loon Wilmar, Esq, as the agent Of said
house.
and ealo of bonds, and OF tho value of the lanl-
grant aud otlor considerations, tho work
Of construction was commenced by tho
lotting Of q contract to tho firm Of Do
prosecuted until October, 1872, whom, from aomo
unexplained roaeol,, tho delivery of funds from
tho Bnle Of tho bonds IN the hands ct Lipman:
1soBonthal l. Co. was stopped, and tho work Of
construction 70 on M tho road, Of course had to be
At this time tue st. Paul Il Pacific linos may
be described as follows:
Braach Line-EigLty miles long, sa50,ooo
capital stock paid up, and 81, ,oaO.oo0 mortgago,
with road finished and equipped. -.
Main Line-207 miles long, 100000 capital
stock pnid up, and $4,000, QUO mortgage, Of
which SIC, 1000 ,06o are issued and sold, With road
finished and equipped.
under construction miles long, $780, 900
capital stock, aud 915,o00,0 900 mortgage, Which
| ia now boing sold as above SGT forth, tho pro-
eeod4 bolnB unoa in construction, and which are
Tho great Northern Pacific Isailroad, extend
ing from the head Of Lako Superior to Puget
Sound on tho Pacific Ocoan, now undor tho
Presidency Of Con. George W. Cass and tho
| mand the entiro railroad business OF Northern
Minnesota and Dakota, north and west OF St.
Paul.
Tho Northern pacfic Company, being desirous
on tho Missisaippi River at The head Of tho great
| valley, whore thoy could connect with nll. the
railroads eastorly through Wisconsin, and south
erly through Iowa, at an curly day III thoir con-
important terminal point as that city, by making
| arrangements with the stockholders OF tho
various St. Paul lineH herein rocited for tho pur
chase or loaao Of aaid st. Paul roada when they
should bo all finished and that il Why tho
Northern Poetic is now d party to this suit.
| Tho real plnintin in tho cnse now boing heard
boforo Judge Dillon ia Leon Wilnar, OF London,
England, who claims to represent tho holders Of
tho S16, 600 900 Of bouds iaaued to build THO st..
| Vincent & Drainnra excursions, aud tho holders
Of $4,000, 900 or $4,000, 600 Of the bonds Of tho
Alain line. Ho aots forth in tho complaint that
the Railroad Company las not paid its interest
| that it IL not uBng the money obtalnod from tho
sale Of bonds for constructing and equipping the
road, but for suudry and divers other purpoacB
| named In tho complaint; and ho nHkH Judge
| Dillon to mako m order appointing q Rocoivo1
for all these lines, and to cloao out Con. Bcckors
railroads and that tie Receiver have power to
borrow about $4,000, 600 moro money from the
satd Wilnar, or anybody else who will loan it
to Hald Receiver, at such rato OF intorost ah
Baid Rocelyer and loaner may agrce upon ;
and that tho said $4,000 900 so borrowed may,
oil tho property land, and franchises Of tho re:
cited ST. Paul j. Pacific Railroads, and over all
tho mortgages Of every kind a.ld description that
havo boon issued, no mnttur whom, md what for,
finiah said roada now unfinished, and run the same
until lo can pay expenses and pay buck this Inst
borrowed $4,000. 200, or until tho roads shall ho
sold out under tho order Of tho court to pay the
same, which, the. dofen1autH claim, would result
III wiping out 91.s00,000 Of pnid-llp, stock and
sn1 mn ifl Of nov fsRl1ad md ntltHfHtlliDp mort