New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-07-30
SETTLING ERIE CONTRACTS.

RECEIVER JFwfTT AUTHORIZED TO ADJUST TIE Ar.
RANGrNt:STs WITH THE JEFFERSON CAR COM.
pANY AND THE NATIONAL sTOCK-YARD COMPANY
On the petition of Hugh j. Jewctt, Receiver
OF the Erie Railway Company filed In each OF the three
sns in which ~ IN appointed Receiver, Judge DnOhue
in Supreme Court, Chambers has granted the Receiver
leave to enter into certain contracts To settle and rd
OF certain older contracts which he complains OF IN
furious TO the road. The following Is the substance VI
the petitions and orders:
contract was made May 20. 1870, with Aexander G.
Radcf for the hire of certain coal cars which was after
ward transferred by l.aich to the Jefferson Car Com
paiy and subsequently modified by various agecineHt,
that in its final shar the Erie road was 10 Day for ten
years, the option OF the jefferson Car Company for
Is years per mile by each OF 300
cars-not 10 less than SO 300 yer m0nhtbe 70
De kept I'm order and finally bought ~ an appraisal ny the
Erie Company. The railway sought 10 avoid this
tract INT in suit the Car Colnan reeoyerda judgment
for Sl79s79 ~ "hlch IN theot 'umen ue .au.u{ OK
the contract Mr. Jewett In ne petition sta,cs Dat "nlo
he has refused recognize The contracts ne needs The
the business OF the road and has negotiated
what he considers fair and advantageous contract for
them By this agreement the Car Company agrees
to sell the for soO0O0 th interest in II monthly
nstaLenfs and on the completion Oh tiir pay h.hs 10
cancel its Judgment. The Receiver IL 10 pay rl3)S 76
the costs Of plaintiffs counsel In the sd.t men OBe
and to give UP the shares OF the stock oil The ar
Company owned by the Erie Railway Company, and to
allow me Dc'aTIre ana iusoh ANA 'oi'hy y" pay
$4,000 To the Car Company Tor tae use vi The cars dur
ing the month OF June.
several contract, made between the Eie Railway
Company and the Ngti0nal s"c k-yaT COMPANY OF New
Jersey which has is stock-yar!s al OAK Gin by which
thp EaWay Company 10 GellNff 10 IDe StOt ktall
CompAsy all consigned to any point east ot Ruth
erol Park and ~ pay the latter rs per cent ~ the rev.
deriy ed rom the Increase OF stock shipments Tho
Receiver declares that tlcse contracts were priura
To the road and fraudulent. the Stockyard Com
pany heinz formed appropriate 'he lawful earnings n
the railway. Proceeding. have bcen Instituted 10 ct
aside tnat agreement Mcanwnil, the StOc.-!ar Com
pauy with Z nominal capital OF Il crcoN, has created
!. rltort.tyc on It's property for $l.UVO@O OF which
1866 900 been issued. Mr.. Jcaett says tI he 0aS
concluded that il Is best Ia buy W tie outstanding SOCK
Of that Company, and has agreed with Charles Robinson
to bug hs 1923 shares for SJ0OCo. or the
mortgage bonds of tie Company, ard 5000 10
his counsel, and Robinson III, reupOn agrees 10
have the present homogeneous resign, and iuriher
10 assign certain lelsehOld property ~ Thifynnt, For
tieth and Forty lr-t-stS ana LEV caiIyc IN this city
connected with tine busints', the Fri" Railway a-sun
Ing the ana agreeing To- ray nina one ffh or tie net
nots Of the business carried upon tbs leased prop
erty. The Int Of his property Is T2l31O Nj JrEctt
starS that lee has also greed 10 by rom Ms FsI er
l-22 shares N the comp n! (or 5000 OF te hrt
mort gage bonds OF that Company
On rttition in the suits OF The Farmers Loan and
Trust Company against The Erie Railway Company
filed by Mr. Jewet and the consent Of the counsel for
the Erie Railway Company, for the plaintiffs In the suit
and c. Bancroft Davis trustee Of the nth mortgage
Judge Dcnohuc yesterday authorized the execution OF
these similar petition and similar order
entered in the suit Of j. g. Bancroft Davis against tho
Erie Railway and in the original suit II the People VI tho
State Of New-YOrk against the Erie Railway.