The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-01-04
THE CHESAPEAKE AND OHIO RAIL-
ROAD.

DECISION OF THE UNITED STATES sUPREMH
coURT IN THE CASE OF RICHARDS AND
OTHERS AGAINST THE coMPANY-Irs AFFAIRS
TO BE SETTLED By THE STATE COURTS.
WASHINGTON, Jan 8 1875
The written opinion Of the Court in the OF A. p
Richards and others against the Chesapeake Ohio
Railroad Company, which argued before the United
States Circuit for tho Eastern District Of Virginia
on the 2lst December last Chief Justice Waite Of
the United Supreme Court sitting with Circuit
Judge Bond was delivered this morning by Judge
Bond In Alexandria Va, Chief Justice Waite though
absent eoncurring the opinion. There wore present
Mr.. William NJ. Evarts, ex-Judge shpman and Mr..
Storrs OF New York; Judges Robertson and Crump OF
Virginia, representing the company and the credtors
under various mortgages and Colonel Gordon Messrs
steeger, smoot Jones and Smith, OF Virginia repro,
senting several bondholders resisting the application u
the company
1t will be remembered that upon the ez parts state
ment Of Richards, who originally brought the suit
Henry Tyson, OF Baltimore, appointed receiver Of
tho road in November last by Judge Bond In The
United states Circuit Court Subsequently the trus
tees under the six per cent mortgage made application
TO the State courts Of Virginia and West Virginia fol
tho appointment Of receiver to wind up the affairs q
the company, and under this application General VIII
lam q. Wickham, Vice President Of the road APP
pointed receiver. Tho questions before the United
States Court today werc;-
Fv-A motion dismiss the rom the United state,
Indispensable defendant being
ssnd-A motion Of the PLAINTIFF themselves 10 be aowet
the order Of dscontinuance, that thoi
might DO able proceed the state courts whose ursdo
ton unqucstioucd
Judge Bond after fun review OF the case and N,
action q his court heretofore taken Ia the matter
nounced that order would be issued directing the
cetvcr appointed by him tyson 10 settle his account
before day 70 DO fixed whoreupon he viii be dis
charged and the parties allowed 70 proceed IN the STAT
courts according TO the desire OF largo majority OF ht
creditors OF each class
Tho effect OF thus decision win be 70 place the affair
OF the road In the hands Of General Wickham the rd
coivcr appointed BY the State courtA After the opinof
had been read Mr. Evarts inquired what day would be
hxed for the receiver settle hts accounts Judgt
Bond replied that could DO agreed upon by counsel
and after conference between them the Goth inst wal
fixed upon the time by which the must set
tie and an order directing him 70 do will be madt
Immediately As as the road passes into thu
hands OF General Wckham those most interested In
will proceed the foreclosure OF the mortgages and
sale Of tho property and u will be purchased IN the
terest Of ali classes Of creditors aud roorganzcd upoK
a plan generally satisfactory.
rho Chesapeake and Ohio Railroad extends from
Richmond 20 the Ohio River, aud was constructed At
cost OF about $40 0o0000 The present Indebtedness
about 81 600 II Is stated that three fourths Al
the creditors OF the road favorable 70 the forS
closure OF the cages and settlement Of the affairs b
the State courts accordance with the dccsop oftm
United States Court to daY.