, 1875-01-18

tho management Of tho Chicago. Burlington Il
Quincy 10 prATont thsfn from being 1fAced Into
lilo hantfs Of 1secelyer about aiz months ago.
AZ that t1mo Mr.. drnves, tho frcHiiont If these
roads, Ind just returned from Europe, whero he
had negotiated loan OF several millions for tho
eenn'ai!c,, Of tho Iowa Pacific Railroad, Had
the roads boen forced into sha haatls Of j. l,o-
coiyef 1t That time, natteF1 would have bnen far
more aorious than at p1eeot, N most OF tho iron
for the new road has tinca been purchased, and
IT can naw 10 eonplstcttHitlout much difficulty
in spite Of the financial efnhafraHsmetie
Of the ahose-naIned rnads. Although tho man
agera of tina Chicago. burlington Il Quincy hall
road are about ~ experienced az any railroad
1nanagere In tho country, sLilt they "oro unable
10 keop tho roAdA out qf sp l4ep1n Of Jleceiyar,
1t being claimed tllst tho railroad ]aws operated
too aeverely s2ainat them.
Ths Hui. against the roads wan brought by Mr..
J. 81. Walker, President of tho Chicago, HarlIns-
ton Quincy Railroad, ~ agent fur Join H.
HuEnllan and Jsmes u. Hlaks. trustees for ho1,l-
crs Of tho bonds issued by stio Chicago, Dntu1uo
+ Minnesota 1sailroad Company.
Tho petition for plaintiff aets forth that on
tho 1st day Of June, 1871. the Chicago Dubuque
I Mlnnpsota Railroad Company executed and
t!e1iycrod TO IA. burnhsn, !. II. 11laks, and
ins to <hom all tue property OF faid rajiroad
company. aud Ill that the company might there
after acquire, and al the right, title. interest,
and equity Of redemption therein, to road-tetla.
A7Fotnt Acii1h6 1lAHE{neh. 11EHG
Of ray, revenues, incomes, anil in fact every
thug belonging 10 apy portion Of tie road or
lts branch, too seoHso tue. payment Of tue
principal md interest Of ths negotiable
isaned, or might thereafter be Issued. "
tho construction and equipment Of the raiIrosd,
to the amount Of F2b,1uU per mile Of tl,s road,
tho bonda to bear even date with the conYcrance
i've years after date, with interest 1T tho rate Of
per cent per annum; the interest to be paid
reEl-annually, on the last days Of Juno aud
December Of each yeat. The conveyance pro-
vidoi that in thirty DAYS after default in pay-
tneut Of interest tito Trusteos mighc, at tie re-
quest Of the holders OF one-tonth Of the amount
of tue bonds, take poaHession Of tue railroad and
property, forocloso and se1}, aud apply the
incpu1e to tue payment Of intarest and principal
Of Ill tho bonds, aftst paving e1penacs of
nale. The Company. undor and p'lrsuan. to
tho terrna OF this traat-deed, iasued and sold
its negotiable bonds, With coupons attached,
to the amount Of ~, Az. 300. The Company
the 1st of juno and that due Oh tbo lat Of lie.
cembeIt 1873, and also that duo on the aa,ne dates
for 1874. No part Of these installmonta uas
over paid, and tho interest duo and unpaid
si'442. 900. All the property, francLises, and
privileges Of tho Chicago, D1buque4 Minnesota
aud its branch, petitioners aver. is not sufficient
to pay tho indebtednesa named above. The CHI
CABVS 144AubtNA RAHCf 1k8aiIbR4 <Q
Of eG.6S9.96, with tntesbst thereon, sinrs
Oct. s, 1874. paid to dl The City, Of Du-
buque for taxes, md 90. 223.19: with interest
years ls7t, II, and -. Thu Chicago, Burlins-
ton Quincy slHo has claim for the Bu1u Ut
800, 183, with interest, for material. labor, etc,
In tito case OF tue Chicago, Clinton L Du-
huquo ltoad, John N. Denison and Janos II.
Blake appear as trustees, and ask for fore
closure. Tho Cbiosgo, Burlington i Quincy
olaiue lieu upon the property Of this ,oad u
SECURE debt OF SILL for taxes paid gu
said property at Dubuque for the years 1874 and
1879, and also liou for further debt due it OF
ment against defendant. In lows the la" re-
quirea tbat foreclosure Of = trust deed must bo
procured by action in court therefore the pcti-
tionozn could not forecloBe Is per agroemant in
ahd trust deed.
motion for tho appointment Of . Reco.!er
Was properly nado, aud IN accordance Herewith
Alr. e. Harris, the present Superintendent. Was
appointed. 1t iB quite probable that the Chicago
tile roads. and thus sottle tho controversy nt
Clinton regarding the bridga-crosaiug, AMI 1t
the shuo time have the Chicago, Dubuque d
Miuueso.a Connect with tleir road at st. retsr
Mimi.
Tao.n is also goud reason to believe that tho
Chicsxu, burlington Quincy Rallroad IL Anx-
iouY to own these roAds, aud the fact thAt tho
petition for . Receiver w&s filed ty tha Prcsi-
dent Of the Chicago. Burlington & Quincy Rail
road is significant As evidence Of tile loport that
this Company wishea to get control of tue
road.
THE CLEVELAND d lTTsauRa,-AkNuAL RE.
PORT,
Tue annual meating Of tho Cleveland L pitts-
burg Railroad waa held at CLEVELAND Jan. G.
President McCullougha report shows tho follow
Ing results Of operations for 1874:
hxCE1rTS.
From gross ehrnngs. 81, ,740 sa4. Is
From other 10,2A3.B1
Total receipts. 81. $50 2J.y5
KIpKNDIIUnEB.
Far operating expenses ..... Il OK. .195.43
Bald f., Fl, v. Il G. Il. II. In
settid1nsnt of Joint earnings. b3.5191t
For battermsuta ........,..... 713616.1D
Rental, Inherent. siuking fund.