The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1874-11-07

WESTERN MARYLAND RAILROAD -ApriIoA.
TIos TO FoR.cLosE MORTGAGE. The Balti.
more Sun OF Saturday says - Yesterday Mr.,
James McDougall, ia the Circuit Court o.
Baltimore county, by his attorney, Mr.. Samuel
| Snowden, for Mr.. Daniel Dougherly. James
Doughertyf- Whitman aud Mary Ann
Doughcrty, lwidow,l trading under the name
and style Of Dougherty a Co., bankers, OF
\ Harrisburg, Pa, filed a bill asking the cour,
to grant an injunction and to appoint a re.
ceiver, as well as for themselves as for ali
others, the holders Of the bonds of the West.
ern Maryland Railroad Company of the class
known and designated as s'preierred second
mortgage bonds who shall come in and
contribute to the expenses Of the suit The
bill alleges that some time prior to August q
1865, the Western Maryland Railroad Com.
pany found it necessary aud determined to
Issue bonds, under the authority of an act of
the General Assembly Of Maryland, passed at
ITS January session, 1868, to bear even date
with q mortgage Of six hundred thousand
dollars given to john 7. Matthias and Horace
Abbott, Of Baltimore city John Rouzer, OF
Frederick county Augustus Shriyer, OF
Carroll county, and j. +. Smith, of Washing.
ton county, trustees to secure the prompt nav.
ment of the aforesaid ''preferred second
mortgage bonds" of the following denomina.
tons -Four hundred bonds for the sum of
one thousand dollars each, numbered from
one TO four hundred, inclusive four hundred
bonds for the sum Of FIVE hundred dollars
each, numbered from four hundred and one to
eight hundred, inclusive, and all payable on
inc hrst day Of January, 1895, with interest
meanwhile at the rate Of 6per cent per anDum,
payable semi.annually at the office Of the com
pany, in Baltimore city, on the first day of
january and July in each year until the prin.
caipal shall have been paid, UPON the presenta.
tion OF certain coupons attached to the said
bonds.
The bill rocites that the trust mortgage re-
ierred to was executed to the aforesaid
trustees on the 2lst day Of August, 1868, and
conveyed to them all the company's property,
estate, effects, &c, real and personal, lying
and being in Baltimore, Carroll, Frederick,
and Washington counties, in the State Of
Maryland, or wherever the same may be.
connected with the present road and its
extensions from the junction of the road at
the Relay House, on the Northern Central
hallroad, in Baltimore county, to Hagerst0wn,
in Washington county. This mortgage, ii Is
alleged, also provides that in case said com.
pany failed to pay the principal of the said
bonds at maturity, and the interest meanwhile
semi-annually in accordance with the terms
OF said coupons, then at any time after said
default, upon the request of the holder, or
holders OF the aforesaid "preferred second
mortgage bonds or any part thereof the
said trustees were authorized TO sell or cause
to be sold. &c, all the property, estate and
ELECTS OF the company, or so much thereof rs
might be necessary for the payment of the
principal and interest of said bonds. The
compliments say that they are the holders
OF S2S, 300 of the aforesaid bonds, which are
secured by the aforesaid mortgage, and that
on the 3D. day of August, 1874, they gave
notice to the aforesaid trustees that the
interest for more than thirty months upon
their bonds was past due and unpaid, and
requested the trustees named in said mortgage
to at once examine the power and authority
vested IN them by tho said mortgage, and to
sell ut once the said road and property
mentioned therein at public sale, and as they
iailed or neglected to advertise the said prop
erty for sale, they are now advised that thew
are entitled TO have said trustees removed,
and the said property sold by decree of the
honorable court.
The compliments further charge and alege,
among other things, that the company now
collects the income from the aforesaid prop.
erty and applies il TO other purposes than the
payment OF the interest upon the bonds, and
they now pray that Fan account may be taken
ct all the said trust property, and also the
income received by the Western MARYLAND
Railroad Company, and all the moneys which
have been received by it from the sale of any
OF said trust property, and also Of all invest
ments that have been made by said company,
and that il may be decreed to convey to the
said trustees named in the aforesaid mortgage
or such other persons as may be appointed
in their place and stead, all the property Of
said company acquired since the making of
the mortgage aforesaid, and which by its
terms was to be conveyed TO the said trustees;
that the parties named in said mortgage as
trustees may be removed and n decree may be
passed for the sale of all said mortgaged
property, and u receiver may be appointed to
take charge and possession of said property,
and collect and receive the income from said
road; and that an injunction may be granted
enjoining. and strictly prohibiting the said
Western Maryland Railroad Company, John
]. Matthias Horace Abbott, John Rouzer. and
}. i. Smith, their servants, agents, or attor-
neys from interfering in any way or manner
with any Of the property mentioned or de-
scribed in the mortgage aforesaid and that
they may have such other or further relief as
they may require. II was ordered by Judges
Gason and Yellott that copy Of the order
asking for the appointment OF a receiver and
the granting Of an injunction should be served
on the Western Maryland Railroad Company
on or before the second day of November, and
that hearing of the case shall be on Satur.
day, the eth day of November, 1874.
MEETING oF THE ScHooL Roam -Tbe