The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1876-01-06
Chesapeake & Ohio Railroad.

WASHINGTON, Jan. 3.-The written opinion
OF the Court in the case of A. F. Richards and
others against the Chesapeake & Ohio Railroad
company, Which was argued before the United
STATES Circuit Conrt for the Eastern District of
Virginia on the 2lst of December last, Chief
Justice Waite, Of the United States Supreme
Court, sitting with Circuit Judge Bond, was
delivered this morning by Judge Bond in AL
| exandria, Va. Chief Justice Waite, though
absent, concurring in the opinion. There were
| present Hon. YIN. NJ. Evarts, ex-Judge Ship
man ana Mr.. Storrs, of New York Judge
Robertson and Judge Crump, OF Virginia. rep
resentlng the Company and the creditors under
vario,s mortgages, and Col. Gordon, Messrs.
Steger, Smoot, Jones and Smith, of Virginia,
representing several bondholders resisting the
application OF the Company. 1t will be re-
mem5ered that upon the eX parte statement OF
Richards, who originally brought the suit,
Henry Tyson, of Baltimore, was appointed Re-
ceiver OF the Road in November by Judge
Bond, OF the United States Circuit Court.
subsequently the trustees, under the six per
cent. mortgage, made application to the State
Courts OF Virginia and West Virginia for the
| appointment of a Receiver to wind ND the af-
fairs OF the Company, and under this applica-
ton Gen. William G. Wickham. vice. President
of the Road, was appointed Receiver The
questions before the United States Court to-
day We're:
First. A motion to dismiss the suit from the
| United States Court for want of Jurisdiction,
both the plaintiffs present and indispensable
defendant being citizens of the same State.
Second. A motion of the plaintiffs them
4 selves to be allowed to enter the common order
OF dlscontinuance, that they might be able to
proceed in the State Courts, whose jurisdiction
was unqnestioned. Judge Bond, after a full
review OF the case and the action of his Court
heretofore taken in the matter, announced that
an order would be issued. directing the Re-
ceiyer appointed by him, Tyson, to settle his
accounts on or before day to be fixed, where
upon he will be discharged, and The parties al
| ioWed 70 proceed in tie State Courts, according
to the desire of large majority of the credit
ors of each class. The effect of this decision
will be to place the affairs of the Road in the
hands OF General Wickhan, the Receiver ap-
pointed by the State Courts
After the opinion had been read, Mr.. Evarts
inquired what day would be fixed for the Re-
celver to settle his accounts. Judge Bond re-
piied that this could be agreed upon by coul-
sci, ana after conference between them the
10Th inst. was fixed upon as the time by which
the receiver must settle, and an order direct
ing him to do so will be made Immediately.
AS soon as the Road passes into the hands of
General Wickham those most interested in it
Will proceed to the foreclosure of the mort
cages and sale OF the property, and it will be
purchased in the interest of all classes of cred
itors, and recognized upon plan generally
satisfactory.
The Chesapeake & Ohio Road extends from
Richmond to the Ohio river, and was construct
ed at cost OF about 1000, 000 The present
Indebtedness is about s27,000,000. 1t is re-
garded as one OF the best constructed Roads in
the country. 1t is stated that three-fourths of
all the creditors of the Road are favorable to
Inc foreclosures of the mortgages and settle
ment OF the affairs by the State Courts, in ac-
cOrdanc0 with the decision of the United States