, 1874-05-16
RAILROADS. :
Application for q Receiver for. the To-:
~. ledo, Peoria, & Warsaw. =. :,
miscellaneous Railroad Matters,

ILLINOIS RAILROAD sU1Ts,''' !"
Tile action Of tin Chicago d Alton Railroad
Company In carrying tho oxtortion case brought
against thom under tho now Illinois 1aw, into the
United statos Circuit Court, oroatos considerable
Comment In railroad crolea. It is possible tho
Chicago, Burlington l. Quincy and the Illinois
Uontral will adopt 9 similar COURSE. The North
wostorn Company will probably not be obliged to
40 30. Their case atands differently. Tho mafn
OBJ Get Of going into tho Federal Court is to
avoid. having the Commissionors' acllodule,
introduced aB prima faoie evidence Of
Wl,at s,lrat;, 81 are reasonable retea. and to
agsns ae Rse 20 ospanS statS
at Ereeport, tho Commissioners will have ia
show. wlat aro reasonable rntos. It. ia beloved
tley cannot Introduce the schedules, because tho
schedules wore not msdo prima :faciia evidence o
until tho following January. Wore tho Court to
Admit them na evidence, tho defendants, 1t is ha
levcd, could safoly rely upon the Supreme Court
revoreing any Judgment rendered upon such
Tho declaration in THO caao against the Illinois
Certtral at CaIro was filed Oh tho last day all
lowed by Court, leaving the Company only: ten
ys n wS tq prepare Tor tra Mhen IT. Is
with eyory facility at hand. under ak months,
it ia, pothapa, ncodoaa to remark TINT tho Com
pany will not 60 to trial before tile fall or wintor
torn. -, -" %: =
TOLEDO, PEORIA 4 WARSAW .,
An application was made yesterday morning,
before Judge Drummond, for tho appointment
of Receiver for tho Toledo, Peoria l. Warsaw
Railway Company. About; twenty lawyers.
representing various interests connected With
tho road: we're present, aud lively diaoussion
was indulgod in. '' - =. :. g
- i: COL. 1SoERaolI. - -.
Wished that the present TruBteea should be ooa-
tinaed. Ja1nes F. seoor, tho present President.
md William Tracy have been for aome weeks
acting as Trustees, and, Judging from ths feel
Ing yeaterday displayed, giving perfect satiatao-
ton. Attorneys representing over 90, 600, 900 Of
bonds or aoating debt, wore preaont. and ao-
quiesoed In the proposed order. $50 r..
Nh. GEORGE ". 0AMPnRLL :.
representing some Judgment creditors, OBJ
jeetod, izst, because ho considered tho Presi-
don't unfit to DO Trustee, and, second. because
the State Courts had iuriadiot ton, and be Wished
the State Courts having obtained jurisdiction d
the: subject matter and persons, tho Federal
Courts would not Interfere.
JUDGE DnuMMoND,
however, dooided that tho Judgment lion did not
gys |ar'sdiotIon 30 ~ as t!,. to oaat The tho
oognixauco Of the mattor. Tho Judgment oredi-
tors could have lien On the property mot covered
y ey as N 5G1ssgs sss gea a so, asa hts sa Go
object Of thla laprocoeding, wan to place tho prop.
erty Of tho Company under tho jurisdiction Of
tho Court. and enable 1t to have care over ita
atfairs. Tho Receiver could only take possession
Of the property covered by the mortgage which
1t was now sought to foreoloBe. Il was not the
duty OF court of equity to pay on lien OF one
creditor ut the sacrifice OF the rights Of another.
II tho Company w&s inaolventt 1t wAa g most
common proceeding for Receiver to be ap-
pointed, and tho possoaaion OF the Receiver waa
the possession Of the Court.
Some further discussion followed a. to tho
question Of modifying tho order 80 az to rentriot
the cfnim Of the Receiver to the property covered
by tho mortgage only, and thereupon .
THE FOLLOWING ORDER
WAS entered: ): :: 80
Now, this dny tho motion for tho appointment Of
James r. Bccor and William Tracy, as Receyets Of tbs
Toledo, Peoria b Warsaw Railway Company, coming
70 bc heard and 1t appearing t9 tho Court that tht
said James F. seoor aud William Tracy arc tho !rus,
tees mentioned in tho consolidated MORTGAGE and thai
tho Toledo, Peoria Warsaw Railway Company failed
to pay the Interest upon said bonds mentioned in said
mortgage, and that the sad Tustece took posaesaioE
Of tho property OF tho said Toledo, Peoria Warsaw
about tho Sd day Of February 1874 and hays beon Ii
possessIon since that time, and at Are and have been
aud are operating tho same auch Trusecs. unde.
| tho consolidated mortgage. +: - -
Now therefore, It is ordered by the Court that ths
said Trustee Trustees retain possession Of the safe
property and railroad covered by said mortgage md
continue to operate the saue until the further order
Of This Court without prejudice to tho right Of an,
partlca interested to contest the claim Of possossion
said Trustees under the moztgnge. And further, thai
Blid Truatceg report to this Court oil their actinH8
ongs In this behalf by the 18th duy Of Juno next
thlH motion is continued without prejudice, to be tinker
up on notice.