The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-12-17

buOoiu Uo obppF0tSdsUyG u juuScUA coiu Suufi
as snitabse in form and susficfency OF s6reties.
1t 10 remarked here, as do least aiIexffaordt
nary cofBeidenee, that Mr. Tyson, 8 ressdebt
OF Baltimore, was in MishmS1d on that saio
8th day OF October, and, stta more remark
able that ne had In bis poekee q b0ffa dsly
executed Ia She exact suxf stessatfhe court had
on that day prescribed. ssd' the Bol'd wa I
drawn II, tflzpreeise foHIa TINT The count apt
proved, and that It was e1scutea by the pre-
cisc number OF sureties II dnBed by ths
Raiso aceeptable-D the judge who, had isstled
ls is Importers TO, be, ressrheaz here that
tie bearing OF tbs petition 0ad tfe granting
ef, this order by the court On the said 9Th
day OF October wss Without notice to this
company, aIthough itS was wssiI Known that
FtEs- vice ce-presidenrof the Company, General
WYekhaIn, was witssfrf i've mi1utesr walk OF
thescoart- house, aud that Judge RUbertsoE,
well' Known as the counsel Of Tue company
lie Virginia, and that henry IT, WieEhaiD,
Esq, Ibis assistant counsel werGbosh within
easy caM. .aaol;eas;i- III 80 .ssitSiss
T At So'cloek IN thesafternoon OF the same
day, Mr.. Tyson, accompanied eT Inited
States: marshal, waited upon the Hce-pTesi-
dent on the company esd demanded posses.
sion OF the property. : ". s. ~
The vice. president, having no previous
knowledge of the proceedings 10 coayEop that
day, immediately sent fsp Judge H6 6beftsou,
and they together waited upon Judge Bond,
who had.issxed the order; asking for npodi-
fication os' the order or Sdelay in the exeen.
tion Of 1T rantil they couHso be hear61 In the
premises. This request was refused and
nothing remained but for the vice.president
TO surreuSer the property to Mr.. Tyson
|. On the 22d of October the company Ned
Its answer to the! rule and the request Of q
large number Of bondholdesc, stockholders,
and other creditors, representing In all the
SUM Of about tMenty-three. millions of dol.
lars, being majority Of all classes interested,
that General Wicknam, ,vice.president of the
company, SHOULD be made permanent re.
ceiver in place of Mr. Tyson. On the ash
of October the court appointed Mr. Tyson
permanent receiYer. s.5g,4 ,GHa a9.1 = IN
Your property is now In his,hands aud
subject to bis management! He is stranger
to your President: and Board Of Directors,
and go lar as, they are advised ahe-has no pe-
EcuniarH, interest. whatever In the property,
nor have either. Of his -sureties,- allof whom
are non-residen,s Of Virginia or West Viz.
9ipia, 9EnlgG IJY5 aEil f'Sl s!asB 7Etii = ~
Edoes net appear just and right that d
property OF such magnitude and. Of. so great
cost should be taken out Of tie management
and contrek Of its rightful owners an6 be
placed In the hands Of a stranger against the
expressed wish OF so large majority of all
persons interested in IL as bondhoidefs,
stockholders, and general creditors, and
especially as not single person interested In
the. property asked for the appointment Of
Mr. T gsop.s :2l ne; =. o'&- ~s}'stL
Your President and Directors will there
fore use every effort that they may be ad.
vised ia, lawful and proper to; isecure-a re-
versal of the orders Of the court. a.r.sl..,i
If they succeed In this; an earnest attempt
will be- made for Reorganization ct the
company on plan that it lis hoped will be-
acceptable 10 all interests. ..L.a ~ ri .r.saa
The property is a very valuable one-too
valuable to be wasted BY litigation-and II
plan.of Reorganization can, be agreed upon
before much more valuable time Is lost, and
before The value of the property Is impaired
by the costs of litigation, which costs, if 10.
CURED, must finally be paid out OF the pro.
perty sthes your President and Board OF ID.
rectors will give their attention earnestly 10
the workiof securing such connections aud
extensions of the line as are needed; and
they will do so in the confident belief that,
Ialthough the investments in the securities of
the company have thus far proved unpro.
ductive, they will finally prove to be salts
factory in The returns they will yield to the
holders of them, and that all the hopes and
expectations which have been indntged in in
regard to the great enterprise we have so
much at heart will ultimately be realized.
Thanking the subordinate officers and en-
ployes of the company fer the. faithful per.
Torrance of their respective duties,
Very respectfully,
c. p HrNTINGTnN President.