Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1874-06-11
RAILWAY CONTROL.
Suit to Enjoin the Enforcement of the
Potter Railroad Law.

Potter Railroad Law.
On the afternoon of the 1st of June pa
pers were served upon the Attorney-Gen-
eral and the Railway Commissioners, no
tifying them that an injunction would be
applied for in the United States District
Court for the Western District OF Wlscon-
sin, to restrain them from instltutlng any
proceedings or taking any measures tor
the purpose Of executing the act OF the
last Legislature regulating railways. This
action is not brought in the name OF the
Chicago & Northwestern Railway Com
pany, but in the name Of its creditors, who
say that their securities are weakened or
destroyed by the law of last winter.
The following is copy OF the notice
served upon the State officers therein
named
CHICAGO H. June 1, 1874.
To the Hon. A. Scott Sloan, Attorney General Of
the State of Wisconsin, and James Osborn,
George H. Paul and John W. Hoyt, Railway
Commissioners Of Wisconsin,
GENTLEMEN-You are hereby notified that on
the 4th day of June, 1874, at the city of Madison,
in the State of Wisconsin, shall, as attorney for
William Frederick Rick, Moses Yagle and Henry
Parson, the Farmers Loan and Trust
Company and the Union Trust Company,
Judge Of the Circuit Court of the State
Of Wisconsin, for an injunction restraining you
and each OF you from instituting any proceeding
legal or from taking any measures Of any kind for
the purpose of enforcing or executing the Provis
ions of act OF the Legislature of Wisconsin
passed March IL, 1874, and entitled IAN act re-
laiing to railway, express and telegraph compa,
MES in the State of Wisconsin" at which time and
place you can be present If you see proper The
Injunction will be moved for upon the bill, copy
OF which is herewith given you, and the motion
for the injunction will be in accordance with the
prayer Of said bill. {. LAWRENCE.
THE BILL.
The bill asks that the defendants show
cause why injunction should not issue to
prohibit the Chicago Il Northwestern
Railway Company from running their
road in compliance with the Potter statute,
and to prohibit the Railway Commission
ers and the Attorney General of Wisconsin
| from institutiDg, abetting, or IN any way
| encouraging suits against SAID Chicago
| & Northwestern Railway Company. 1t
opens with recital of all the acts of
| the Wisconsin and Illinois Legislatures
| whereby the Chicago Il Northwestern
Railway Company, through successive
constructions of separate roads, under
different names, through extensions,
changes and consultations, became a
single colossal corporation. These acts
are given in full as enumerated exhibits.
In sort of cloSely-printed appendix
! statement is made of different kinds OF
bonds which were first issued and of the
first trust deed Of the whole line, executed
to secure the consolidated bonds to the
amount of S4S000,000 All the steps are
traced in consecutive order whereby the
company grew into its present legal and
chartered existence. Then the full text
of Chapter 273 of the law of 1874, the Pot
ter act, is recited in full. Then comes
the gist of the whole matter as follows
Your orators further show to your Honor
that the said Chicago Il Northwestern
| Railway Company operates its roads un-
der rules established by said company,
which fix the rates to be charged
for the trans portation of passengers and
freights upon all the roads Of said
company, ard the roads operated by
it, that said rates of fare and freight
| have been established by said company
after a careful examination of all the facts
and circumstances bearing on the ques-
ton which 1t was in the power OF the
| officers to procure, and your orators are
| advised and verify believe that the rates
are reasonable and just and your orators
| further state, upon their best information
and belief, that the said company will not
| sufficient sum to pay the operating eX'
penses of said railway and to pay the in
| terest upon its bonds as aforesaid, and
maintain the said railway and its equip
ment in proper state Of efficiency, With
out paying any dividend whatever TO lis
| stockholders or making provision Tor the
sinking fund to retire the bonds which
are becoming due at the several towns
| .,y,.1 e., do n an.
Quoted and operated under ana IN
accordance with tho provisions OF
said act of March II, 1874 that
the sole security for the payment
of the bonds holden by your orators is
| the said road mentioned in the trust deed
securing said bonds, the equipment and
| appurtenances of the same, and the reve-
| nues to be derived from operating SAID
roads; that if said roads are required to be
| operated for the rates Of fare and freight
| specified in said act, instead of returning
any compensation whatever to the owners
! of said roads, the same will be run al
loss, and consequently the value OF said
roads will be entirely destroyed and the
! security which your orators hold Tor the
! bonds held and owned by them as atore-
| said will be entirelr destroyed; and that
| the said bonds wep issued and the con-
! tract between said railway company and
your orators contained in said bonds was
made under and in pursuance OF the then
| existing laws of the State of Wisconsin;
| that when your orators became the
owners of the bond aforesaid they had a
| right to presume and did presume tha'
the property mortgEed in the trust deed
| to secure said bonds would be employed
by said corporation for reasonable rates
of compensation in tansacting their busl
ness.
The author Of the Dill in chancery then
| argues that the Pottr act, in view OF the
alleged fact that it @prives the company