The daily Argus. (Rock Island, Ill.) 1873-1877, 1875-11-09
THE ROCKFORD, ROCK ISLAND g.
ST: LOUIS RAILROAD,
It's Transfer to Mr.. osterberg, in Trust
for the Bondholders.

This morning Hon. VIM. H. Ferry, re-
ceiver for the R., R. l. & st. L. R. R.
Hon. B. c. Cook, his attorney, and MIR. R.
Richards, his confidential clerk, arrived at
the Harper House 10 this city, and formal
ly transferred the Rockford, Rock Island
& St. Louis Railroad and all its interests,
to Mr.. H. Osterberg, in obedience to the
order of the United States court, in trust
for the bondholders having claim on the
property.
Mr.. Ferry has discharged the delicate
duties of his position with singular fidelity,
impartiality, and with the highest integri-
ty, and he retires bearing with him the
kindest goodwill and the highest respect of
all with whom he has come in contact
while connected with the road.
The following is his circular issued to
all employees of the road, to-day:
Rock Island, Ills, Nov. Q, 1875. -
| Under the order of the Circuit Court of
the United States of the Northern District
of Illinois, have this day surrendered the
possession of the Rockford, Rock Island Il
st. Louis Railroad with its appurtenances
and property to H. Osterberg, the pur-
chaser thereof, VINO assumes all the bust
ness originating and all matters pertaining
to the Road on and after November 1st.
Y GU will in future obey his orders,
Agents will continue to remit to the
First National Bank, Rock Island, for my
account, all Money collected on account of
business prior to 1st November, in ac-
cordance with Circular of the 4th inst
VIM. I'll. FERRY, Receiver.
Mr.. Osterberg has also issued to all en-
ployes and agents of the road the follow
ing circular:
| Rock ISLAND, ILL, Nov. 9th, 1875
Having purchased the Rockford Rock
Island 4 ST. Louis Railroad for the bond
holders represented by me, and possession
of the said Road having been surrendered
to me to-day by Mr.. VIM. H. Ferry, Re-
ceiver by order of the U. S. Court, |
hereby give notice that have appointed
Mr.. George Skinner as General Manager
of the said Road, and that the heads of de-
partments will continue to serve in their
present positions until further notice.
Agents will remit to the Rock Island
National Bank for my account, all money
collected on account of business original
ing on and after the lst of November.
II. OsTERBERG, Agent.
The position of Mr.. Skinner is similar
to that of President of road. He lis
reputed to be gentleman of high charac,
ter and large experience in railroad bust.
ness He was originally from New York,
and comes here from Kentucky where he
was manager of line running from Louis
Vile.
MIR. Osterberg will remain here in the
higher capacity of proprietor, and will di
rect affairs generally. Mr.. Walter Tram
bull will act as his confidential and private
secretary, and the Hon. Lyman Trumbul
as attorney and counsellor.
From. the Chicago Tribune OF Sunday.
\ Tribune reporter called upon Mr.. H
Osterberg. the representative of the Ger
man bondholders of the Rockford Rock is
land 4 St, Louis r r, last evening for tn,
purpose of ascertaining if there was an,
truth in the statement made by the Time
r yesterday that the Chicago & Northwestern
4 Railroad had obtained control or possession
of this road, Mr., Osterberg emphaticall,
denied that there was the least foundation
. for such a report, and there had been n
. negotiations whatever looking to that end
but he believed the Northwestern peopl
!, would like to get control of the road; b.
|" had, however, no idea of gratifying ther
in that respect On the contrary, he ha
decided to run the road himself in the in
terest of the German bondholders. Yes
terday he paid to Mr.. Bishop, the Maste
,: in Chancery, the sum of $35O,0OO in cash
in addition to the 100000 i
4, cash paid at the time
ty the purchase of the road. He also turne
1T over t. the Court bonds to the amount {
81, 224, 400, as part payment. They ar
nearly half of all the bonds issued, and cor
f. sequently represent nearly half the valu
of the amount paid for the road, which Wa
," $1,32O,OOO. 1t will therefore be seen thu
ne all but about 100000 of the purchas
lie money has been paid Mr.. Osterbur
leaves for Rock Island this morning wit
an order of the Court directing the Recei
er to turn over the road to him on the ST.
20 Mr. George Skinner, a prominent an
experienced railroad man, has been al
pointed General Manager, and Mr.. Wa
ID ter Trumbull Private Secretary ofthe boa
&c holders, in whose interest the road will |
~ managed. TIE Hon. Lyman Trumbull VI
act as General Solicitor. 4 large force
81 men will be Immediately employed to p1
on the road into first class condition. 1t
b, believed by MIR. Osterburg and the &c
a man bondholders that, under careful ma
- agcment, the property will greatly increa
- in value, and in few years will bring ty
ok or three times the money that it will no,
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