The Superior times. [volume] (Superior, Wis.) 1870-1912, 1875-04-24
Gen Geo. ". Cass Appointed Receiv.
er for the Northern Pacific.

a certain obscure and punv
newspaper not far from Duluth has
been trying, for several weeks. 10
annihIlate Geo. w. Cass. the Pres.
Ident of the N. P. road, with its
little popgnn, but the little puny
sheet referred to does not seem to
have been very successful i'm iniur.
ing that gentleman in public estima
ton. or in weakening bis influence.
as he has just been appointed Re-
ceiver tor the Northern Pacific.
which road has recently made an
assignment. The Pioneer Press of
Sunday, says:
Mr. @. w. Mead. general manager of the
Northern Pacific road, for G. w Cass. re-
ceiver, yesterday took possession of the road
and all the property, rights aud franchises of
the company, connected Herewith, in Min
| nesota and Dakota, for and in the name of
Geo. w. Cass receiver, appointed by the
United States Court. From this time for
ward, all accounts will be kept in the name
of the receiver. No change has been made
In the management and business of the road ::
and the same will be conducted the same as
HSlc0oloIt, until iurLDeF ORDERS.
Since the above was put iu type
we find in The Dispatch, the order
above referred to, which is as fol-
lows:
ST. PAUL, April II, 1875.
TO all agents, officers and EMPLOYEES. and
whom it may concern
have this day taken possession of the
hor JHn y Il.
ty, rights and franchises of the COMPANY
connected Herewith, in Minnesota and Da-
kota, for, and in the name of Geo w. Cass,
Receiver, appointed by the United States
Court From and after this date, all accounts
will be kept in the name Of the receiver. The
management and business of the road will be
conducted as heretofore until further orders.
G. w. MEAD, General Manager,
For G. w. CAss, Receiver
The order above referred TO was
issued by the United States Court,
for the Southern District of New
York, on Saturday morning last,
and, as will be seen by Pres. Cass'
proclamation, he took possession on
the same day. The iSsne Of this or
der IL the re- nit of an amicable ar
rangement between the stockholders
and bOndholders of the company
and the action of the bondhol lers,
in selecting the President of the
company, as the Receiver, to look
after their interests, indicates that
they have the fullest confidence, not
only in his business ability, but in
his official integrity.
The Associated Press dispatches
from New York, on Monday, con
tained the following in regard to
this matter:
| The troubles of the Northern Pacific Rail
road Company have eliminated in the ap-
pointment as Receiver OF the President of the
company, who will take immediate control OF
all the property. The condition of the finan-
cial affairs have not improved with time, and
the efforts of those who were trying to build
the road were hampered, it is said, by credit
ors. lt is understood no material change
! Will take place in the system of operating
| that portion OF the road already constructed
or In the working force now employed. No
further construction will be undertaken until
the company is placed on such basis that
money can be borrowed for the purpose
We think that every friend of the
n. 7. road should rejoice at the
appointment of a Receiver for this
road, and that that Receiver is Geo.
w. Cass, the President Of the road.
As is we'll known, the company
became embarrassed to such An eX-
tent by reason of the failure of Jav
Cook q Co., that it has been un-
able to proceed with the construc-
ton OF the road, or to pay the in
terest on its bonds, and since that
time it has been haraassed, not only
by short-si GIFTED, unreasonable and
mulish creditors, but by antagon;s-
tic railroad interests. Nothing
would have pleased the U. p. road
better than to have seen the n. z.
road thrown into bankruptcy, where
most of its assets would be eaten up
by expenses, and which would
probably have della, ed the compile
ton of the road for generation to
come; but the appointment of Mr..
Cass As Receiver, avoids the ex-
penses of a bankrupt court, and
keeps the control of the road in the
hands of its friends, and puts them
now IN shape to make negotiations
for capital with which to go ahead
with the construction of the ro.d,
aud il is safe to conclude that the
decree just granted is step in
preparation for the resumption of
the construction of the road at no
distant day; and from the fact that
Gen. Rosser, the Chief Engineer.
and some OF the directors OF the
n. 2. road. are this week holding
al important conference with the
people of Montana on railroad mat
ters, it is amongst the possibilities
that work may be resumed Oh this
road much sooner than some of US
have anticipat ed.
1t is well-known that the people
of Montana have been waiting, with
win .tever patience they could COM
mand, for the n 2. road, for 10.
these many years. 1t was the road
which, above all others, they wan
ted, but since the panic overlook
the road, and especially since the
last session Of Congress refused to
give this company anv aid, and as
the outlook for Congressional help
next winter was not regarded by
them as 1T all encouraging, they,
during the last two mouths, have
been looking In another direction