The Highland weekly news. [volume] (Hillsborough [Hillsboro], Highland County, Ohio) 1853-1886, 1876-01-20
CHESAPEAKE & o. R. r.
New Receiver Appointed
Encourag ging Prospects.

New receiver AppOinte0-
Encoura ging Prospects.
The N. Y. Tribune of January lot
says:
The attention of those interested
in the securities of the Chesapeak,
and Ohio Railroad Company is called
to an advertisement published else
where in the Tribune, addressed tc
bondholders Of the Company. 1t is
believed that the appointment of 9
nev receiver, who is placed in control
of the affairs of the Company in
accordance with the wishes Of large
majority Of its creditors, greatly i'm
proves the prospect of reorganiza-
ton, which may be likely to relieve
The read from present financial EN-
bsrr&ssment, and result IN its com
pletion to deep water on the Eastern
end, and to connection at the West
ern end with the great railroad sys-
TEN Of the West, NORTHWEST, and
South west This. accomplished,
with that return of activity and pros
perity in business which must come
by and by, the Chesapeake and Ohio
road will have before it the reasona-
bic prospect of a successful enter
prise. We understand that the as
sents of mortgage creditors to the
plan of reorganization proposed by
some of the leading bondholders, are
coming in rapidly.
The following is the notice to the
bondholders, referred to by the Trib-
une:
TO THE BoNDHoLDERs OF THE CHESAPEAKE
AND OHIO R. R. COMPANY.
By decision renderedin the Unit
ed States Circuit Court, the proceed
ings for the foreclosure and sale of
the Chesapeake and Ohio Railroad
are transferred to the State Courts
of Virginia and West Virginia, and
Gen. W. G. WIcKHAM has been ap-
pointed Receiver by these Courts, in
with the nearly unani-
nous choice of the Bondholders, and /
all other parties represented, to be
put in possession on the 18th inst.
This result is of great Importance
to the interests of the Bondholders,
and will inspire renewed confidence
in the future of the enterprise, and
promote the early eonsummation of
the PLAN OF REORGANIZATION
which has already been accepted by
Bondholders to the extent of over
$40, 100000, including upward of &c.
100000, ofthe First Mortgage Bonds.
Many others have only awaited the
decision of the questions pending in
The United States Court.
1t is important to the interests of
al who desire to participate in it's
Advantages that they shonld signify
their assent to it without delay.
When it is accomplished, all the
measures for the Improvement of the
connections and business of the
Road will receive a new impetus; and
n the hands of reorganized Compa-
ny, freed from financial embarrass
nent, and possessing the advantages
If confidence and credit, a marked
Improvement in all its interests, as
veil as in the market value of its Sc
,urities, must follow.
Copies of the plan of Reorganiza-
ion, which every Bondholder should
'btain Immediately, may be had at
he Office of Fisk & HATCH, No. 5
Nassau ST., or will be mailed by them
o any address. {
We, the Undersigned, being hold
is of First Mortgage Bonds, have
ccepted and heartily approve the |
bove Plan of Reorganization l
Richard Irwin, A. A. Low,
ohm Castree, G. NJ Fry,
P Huntington, VIM. Whitewrigbt, {
lex. Masterton, David Stewart,
onas G. Clark, Chas. Burkhalter,
lloyd Aspinwall, Geo. J. Penfeld,
ldw Dunham, Fisk & Hatch. {
1t will be seen by the above that !
he road passed into the hands of the
ew Receiver, Gen. Wickham, of
Va, on the 18th inst.
his indicates that the design of the
Baltimore & Ohio R. R., to get pos
ession fits great rival, the c. & o. t
!. R., is not likely to succeed, and i
hat the latter road will be reorganiz- Il
d as soon as practicable, under the t
Ian recently published in our col il
INNS. When the reorganization is ]
Onsummated, the question of the /
Western connections of the road will Z
o doubt come up for some decisive /
ction, and we shall keep our readers q
dvised as to what is done or pro
osed.