The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1874-10-14

complained of and briefly criticized
in our editorial columns relative
thereto, which goes to verify the
old adage, that zone story is good
until another is told - F'17"
Editor of Palladium. sf@
STREET RAILWAY MATTERS.
From what we know of the Street
Railway management of liabilities,
We are constrained TO condemn, not
only the ostensible head but prem,
inent individuals who uphold pro
ceedings they would not tolerate in
legitimate business. EcsE liz =
It is the duty of this company
to meet liabilities. manfully and
not shirk by endeavoring to re-
proach and occasion trouble to
persons who are disposed to invest
in claims which are justly due and
should be paid. We may say more
about disreputable proceedings in
this connection HEREAFTER. Pal.
s We deny the charges and insinua
tons, and pronounce them false in
substance and fact We presume you
have reference to the purchase, by
citizen, of a judgment again It the
company in favor of Jones & Tough
lin, of Pittsburg. The facts are sim
ply as follows: Jones & Loughlin
furnished; the iron for the road, and
We paid for about half Of the same
last fall, and the balance came due in
the midst of the panic, and failing to
collect stock subscriptions then due
we could not meet the debt as q COM
pany, and were under no moral or le-
gal obligation to pay it as individuals
the company being a corporation,
regularly organized under the laws OF
the State. At this time Citizen y
subscription of 81 900, together with
some others, were unpaid-more than
sufficient in amount to have paid this
debt. Some time in December, Jones
& Loughlin sent their agent here to
collect the money due them. We
frankly stated to him the situation of
the company. We told him we would
pay as soon as we could possibly col
lect our subscriptions aud convert
other assets, and promised all the
company was worth to pay its debts,
and if that failed, then we would make
an assessment of the stock. He agreed
to renew the paper and give more
time. but failed to do so. In order
that all cur creditors might be on the
same footing, and have the same Sc
curity, we executed a mortgage to all
our creditors. including j. q L., on
ALL the property, real and personal,
that the company owned; also, the
franchise of the company We at
once notified j. L. L., but they refused
to accept under the mortgage. and
brought suit in the United States
Court at Indianapolis in December
and obtained judgment in March.
On the 10Th day of July last, the
United States Marshal, by virtue OF
this Judgment, sold at public sale all
the real estate of the company subjec,
to this mortgage, for the nominal sun
Of 1857. In the mean time the CON
pany brought suit against citizen,
and others on their subscriptions, and
obtained judgments against them all
in the February term of the Wayne
Circuit Court, for principal and inter
est. The judgment aga INST that cit.
izen was Tor 81 ,O37, which he refused
to pay, and has appealed to the Su
preme Court.
On the 18th day of July the United
States Marshal stopped the busne,
Of the company and sold its persona
property, consisting of cars, horses
harness, &c. Notice was given befor,
sale by attorneys of the mortgages
that all purchasers would be held re
sponsible under their mortgage. A
this sale the plaintiff bid in two cars
three horses. and three sets of harness
for $3.50; and the President of tn,
company bid in, on his personal re
sponsibility, four cars, ten hon ses, an,
seven sets of harness, at 81 100 aud Il
once put III operation again the bust
ness OF the company-the INTERRUPTION
of which was great Inconvenience t,
the public. These sales of real ant
personal property aggregate $2,7SS
which has been credited by the Mar
shall on the judgment (s4623) agains
the communicating yet due on judg
ment 81 .S35. Now. a citizen open
ly claims that he has purchased thi
judgment against the company; tina
he purchased it at discount; that hi
object in buying it, as stated by him
self and his son, was to make back OF
of the company his subscription O
$1,000. He also claimed to hav,
bought of plaintiff the two cars, thre,
horses and harness. for 81 600. TIL,
horses and harness We're repievied O
him, and on the 9th day of Angus
(being in the midst OF the fair) anoth
err son made oath that said propert,
belonged to him, and replevied i
from the company, who held it for tn,
mortgages; and the MORTGAGE . tn
same day replevled it from that sol
and made father and both sons par
ties to the suit. And to make TIN
matter worse Tor them. and NOR,