The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-10-13
SUIT FOR THREE MILLIONS.


TIE MILWAUKEE & ST. PAUL RAILROAD
COMPANY IN CoURT-A SUIT INVOLVING I'M
PoRTANT DECISIONS.
The New York Herald gives the follow
ing facts connected with an impending rail-
road suit in Wisconsin: A petition was yes
terday filed in the United States Circuit
Court, before Judge Benedict, on the part
OF Aaron S. Bright, praying for an injunc-
ton against the Milwaukee & st. Paul Rail-
road Company, preventing them from issu-
ing or vending on the market any part OF
So, 900, 900 of mortgage bonds which the
said company are now endeavoriDg to nego
tiate as a consolidated mortgage on all
the lines of road controlled by said COM
pany. The petitioner, Bright, repre-
sents the holders of a third mortgage upon
the La Crosse IL Milwaukee Railroad Com
pany, whose railroad has come to be in pos
session of the Milwaukee IL st. Paul Com
pany. The petitioners claim that they are
entitled to redeem the property of the La
Crosse 81 Milwaukee Railroad Company, an
offer of which they have made. They also
claim that the plaintiffs in the suit came
into possession of the property OF the petit
TONERS, being about 200 miles of road, and
that they, as trustees for the petitioners,
have received the rents, profits and earn
ings of said property, and are bound to
ply the same to the discharge of the mort
cages prior to said third mortgage The pc
titIOner claims that he holds 1000, 900 of
said mortgage bonds, and that all other hold
ers can come in and unite with him; and the
petitioner further claims that said rent and
income will nearly, if not quite, discharge
all the liens upon said property prior to
that lien held by petitioner. Petitioner
further states that be is advised and so
charges the fact TO be that the complainant
as corporation is now about putting on the
market general and consolidated
loan of S3j,O00,OOO, secured by a
mortgage on the whole of the several
railroads which constitute its corpor-
ate property, and which is intended to
include the said Lacrosse q Milwaukee rail-
road, therefore casting a further and OPP
pressive burden upon the rights of this
petitioner and others as such third mort
gage bondhOlders, and upon the equity of
redemption vested in them as such. That
petitioner is now proceeding before this
honorable court uTon his said cross bill
filed in this cause, as also by proper judicial
proceedings in the courts of Wisconsin, to
enforce an accounting with the complainant
or its corpoTators, and upon such accounting
he is ready and has rendered to pay any
JUST AND LAWFUL DEBT
or amount still unpaid and due on the
judgments, mortgages and liens prior to
said third mortgage bonds. If any there be;
and otherwise to abide and perform the de-
cree of this honorable court. But petitioner
states that if complainant is permitted, as
he is advised is being done, to vend and sell
in the markets of the United States and
of Europe the said $50, 900 600 of bonds or
any part thereof in such manner as to
become charge upon the said
Lacrosse IL Milwaukee, railroad,
its franchise and property, that it will
cast upon the petitioners and others the
necessity of itigating and contesting with
the holders and purchasers of said S35 000,-
600 of bonds, and thereby irreparably iniur-
ing the petitioner by obstructing, hindering
and delaying his exercising his right and
equity OF redemption of the said Lacrosse
IL Milwaukee Railroad, its franchise and
property, which he is now seeking to do
and will do the moment he can secure a
proper accounting, as prayed for in his cross
bill filed in this case aforesaid. That the
said $35, 100000 of bonds about being
issued by the complainant as body corpor-
ate are in no respect essential to or
for the benefit of the said Lacrosse IL Mil
waukee railroad, but are for the benefit of
complainant and its corporators, who are
seeking to burden the said Lacrosse d
Milwaukee railroad for their own benefit, to
the great and permanent injury of the right
of this petitioner. Wherefore the premises
considered, and as the petitioner has no adj
equate redress save through the interposi-
tlOh Vi inns nOuOIaOle court, INC petl.loheI
prays that an order may be issued
requiring the complainant, as a body
corporate, and its officers, agents and
servants, to appear at day named
therein and show cause why they shall not
be enjoined from further issuing, vending
or selling said 100000 of bonds or any
part thereof, or doing any other act or thing
that may injure or impair the right of this
petitioner pending the accounting prayed in
his said cross bill filed in this cause, or which
may cucumber the equity Of redemption Of