, 1873-01-27

EGht
sn reasonable compensation for III tlo aud labor
tnoney ho may have received from TUG Company to be
Directors. II vii direct tho Proricnt and Secretary
ot ~ Company to produce alt books snd pspc,s tbs;
Fso torro.o "y ob.:ces Or duos ID tho Wy o
Vii appoint receiver 10 taKe charso Of tno books,
rapors, ntlarp and business Of tho Company, roqur
Ing Ruch bonds - may 10 noccAsary.
In conformity to the above decision, H!e Aonor
dacroe satting aaido all tho contracts mado bo-
twoen Hoal nooyo and tho Company; nlado q
reference Of the matter to tho Maalor In Cham
cory to ascertain how much money each sub
certificates Of stock DO Issued to all such who
had paid, allowing Que aharo to oyory ton dollarn
Of nionoy actually paid; and further, directing
tho President and Secretary to call mceting OF
Company, on The asth day Of January, 1873, at
II o'clock Ill.,, for tho election Of now Board OF
Directors, nnd also in other reapocta following
tho directions Of tho Court above.
Company. n a -, tl1o conduct Of tho Corporators ap-
penrs to hnye boon quite inconsistent With tho
interests Of those wloao money was actually In
tho concern. It Is alleged that eolah Roovo WAS
not likely IN contracting WITH o hs follow see'n
make O very dlsadyantagoouH bargain for him
aolf, aB ho had no ono TO combat hin intoroBt,
and tho money which was to pay linn was i TO
como, not out OF himaolf, but out Of oona rae
voro really tho only porsons WHO could possibly
bo ontitied to havo any Inherent, In the
management, Us only thoir capital was inVeatod.
But thoy we're not permitted to say ono word rs rs
bo Obliged to submit to this taxation without
oven tho opportunity Of subsequent, offootivo
criticism. Il Is plain to bc soen tlat tlore waa
no equity in thin arrangement, aud that it WAS
tr 4f1nr r1n
parties In intoreat,, and tho Court very wisely
put ita foot upon tho proceeding before 1t had
advanced to completion.
It has always beon mid that people dispose Of
iessnoss u e" md fselIly than thoy Would il thoy
| wore appropriatlng their own properly, and o.
pcclalIy is this tho case when the whole gain Is
| to hi1n who. liapoHea Of tho money considera-
| tion. This was the position Of Noeyo nnd snow.
nest. Belah Recyo has boon paid $500 milo
for all the completed limo ho has delivered to the
Company under the contract; and nccoraing to
his 1o d'sS1 1y yos tho tic senes5pa 6oapaoy would ia
hayo boen aecccd Of nearly all itH 120 ooo slarop
md would have lad scarcely moro than tho bare
lines on it's banda, while tho money would hayo s
gono irroyocably into tho pocket Of Nceye. Ihla
It is now sought to put tho Stockholders i. pos
| HoBBon Of their rights, and to give thon tho op-
portunity Of directing. what ts really only their
anair. solah nooyo's gigantic financial operation
| has boon nipped In the bnd, md hp Ia nshou to
Having done this, aud paid back to the COM
| many tho o1coaB ovor md aboye q fair compoI"
Bation for tho lines built by him, tho CORPORA
| tion will then bo upon solid basis roady Tor
| correct management, and ho made undoubtedly
to become n successfully competing line with tho
| Weatorn Union, q contamination greatly do8lrod
by all who have bocasne subscribers to its stock.
Tho election Of Directors on Tuesday, is Of
material Importance In connection with tho suc-
coBs Of tho Company, as it will depond entirely
| upon their character as to whether an nmicable
settlomeut will DO mado with Rcpye, and tue
Company allowed to got into prosperous work.
ing condition again without further litigation.
has lines running - from Chicago t
from Omaha to Lincoln City Mob, from Omhha
to Kannas City, from Chicago to Springfield, Ill.
and from bloomington to Decatur,. ILL.,, IN 81
| about LOO miles. There nro still needed te
coaapleto tho circuit about 900 miles, being tht
dutsuce from Kansss City to gt T., Louis and from r
ia completed, tho linea may easily bo made tt
pay largo dividends. At tho present time the
stock has no market valuo, aud tho lines art
scarcely paying office expenses.
OF tile stock about 0,000 aharea hnyo boer
sold, represented BY near1y 5000 atockholdcrs
on each share. Tho attendance at the stockhold
ors' meeting viii undoubtedly 10 large and quit
| exciting, We do not express any opinion, excep
euoh az has beon formed from what has Rppearet
from tho papers in tho caBe, and testimon.
already adauccd and. as thoroughly neutral
nll parties placod in o favorable aspect, whor
consonant With Justice and fair dealing. W.
bolieve the Great Western can bo madea power
ful company with proper management.