New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-02-22
THE COU RTS.

RAILROAD FORECLOSURE PROCEEDINGS.
TIE ERIE sUrr TO ESTABLISH PRIOR LIEN OK
BOSTON, HARTFORD AND ERIE-sUBsrAhCE
or THE COMPLAINT
The Erie Railway Company, through Barlow,
Larocque, and Macfarand have begun proceedings IN
the United States Circuit Court for the District OF Mas
sachusets, against William T. Hart OF Boston, Chas'
p. Clark OF Newton George ~. Barnard, Mark Healey
John S. Eldrdge. Horny n. Farwe James ". Converse
Joseph W. Clark. James A. Dupee. all OF Boston Geo
T. Olyphant Of Grecnburg N. T., George W. Bartholo-
new, Charles r Chapman, Calvin Day and Francis B.
Cooley all OF Hartford the Treasurer Of Connecticut,
Charles T. Bradley, Henry Lppitt Elisha Dyer stephen
Olney and Benjamin rrpp an OF Providence, OF The
Boston, Hartford and Erie Railroad Company Of Massa-
ohusetts.
These are the foreclosure proceedings against that
road the points Of which were recently published ex
clusivcy IN TITE TRIBUNE. The Boston, Hartford and
Ere be- fOreclosed IN consequence
payment ofsintcrcst and the Erie Railway
which holds large amount Of its bonds seeks 20 have
them made preferred len the Boston, Hartford and
Eric under the terms Of old contract with that Com
pany.
The complaint In the details the history Of the
construction the Boston, Hartford ana Erie Railroad
and other lines purchased or controlled by It, Among
other matters IL describes mortgage by the BOSTON,
Hartford and Erie made March 10 1860, 10 Robert H.
Berdo Dudley 3. Gregory, and J. c. Bancroft Davis
bonds Of the Boston, Hartford and Erie by the Erie Rail-
way Company the amount Of S5OOoO IL states that
the time allowed for the redemption Boston, Hartford
and Eric viii expire March 1873, and that the road
will pass tho hands OF assignees trustees
who Will proceed 10 organize UeW company luis, N is
avercd, would be preiudcls TO the interests OF the
Erie who pfiYs that Wm. T. Hart, George t. Oyphant,
and Charles p Clark trustees, and George NJ BARNARD,
Charles s. Bradley, and Charles r. Chapman, assgnee-'
may be restrained from insttuting proceedings Tor !e
sale OF the franchises property Of the
Boston. Hartford and Elle.
Tie Erie further praYs that the Court will ascertain
ana decree the amount overdue and payable on tue
coupons the Berdel bonds, and that IL may DC per
mited the franchises and property conveyed
by the Berdc mortgage from any forfeiture TOT non
payment coupons and that upon suen pay mont
the Court viii order and decree at the Ere shall nave
and mold first ana paramount lien upon all the iran
chsrs and property Tor the security or the payment 20
Erie such advanced 20 pay such coupons, ana
interest said SUN so advanced The Eric prays the
Court ascertain the amount due, principal ana inter
est the coupons paid and held by It as above set
forth being coupons said Endorsed bonds; ana % ana
adiudge that they ana all other Of sad coupons on
said Endorsed bonds which II shall and take up snail
be valid lien upon all the property so held by SAID us
bonds and be paid Of sad property ana also IN con
said Berde bonds snail be lien on all tue
franchises and property held by sad trustees under said
Berdeil mortgage, anu PAID hereafter prayed
The Erie further prays that all said mortgage bonds
underlying said Berdell mortgage and purchased with
derived nom the sale OF SAID Borden OOnua Dy
said Boston, Hartford and Erie Company, ana now IN
Of said sSgneeS or trustees may pc ueieed
held by said assgnees Ia bankruptcy FOR the benefit
the Erie, aud that they be ordered 20 collect the
same aud convert the same lEtO money by foreclosure
sale OF the franchises and properly by when SAID
bonds secured and to apply all the proceeds IN paw
said coupons ana interest thereon taken up and
held the EIie and then further in liquidation OF al
the coupons said Endorsed bonds due or 70 fall due