The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-28
income. and profits they had derived

revenues, income and profits they had derived
from the possession Of this property. AT the
same time they had nermission TO prssf,n,
statement OF the " credits" which they cliliheu
should be allowed as an fleet To their recelpts.
This order or permission they chose 10 cpnsttue
a. an authority to present a statement o. re-
ceipts and disbursements, I'm the form OF az ac-
count current with debts ana cfeilts, es ~ lhei
were or had been sustaining ne rtI''l"n %,
trustee, administrator, or agent OF inc V. =. ulu
T. II. r. Go. and ITS cditOrs, nnd not acting a.
owners Of the property. IN den nee VI t!v ',ii'l.
many and it, cred .ors. IN THIS icc0unt 'hey
have struck a bsllnce OF $l110jl.s5 a. due 70
them. and for this sum they niaNe y Vi. ~
against the property ne' 'o' ,uJ, iIev arc
entitled TO n privilege or licn or IrluIl.N w.
the mortgages of the rropcrty' ana say 'nS' ~
ought no, to he sold until thei' cialh Is p''u'
An IMPUDENT COUNTER CLAIM.
In this account" or statement o: receipts.
earntnrs, and profits, they 90 not include tue
state bonds for 81 l2sOD granted Nv the hesl-s
laturc g. aid IN the repair ana impr9vemeut OF
the railroad. They constrle and claim these
bonds a. gift To themselves, individually, win
which the V. :. and 4. II. X, Co. and tis credi-
tors have no interest nor concern. They allegc
that they have expended Of their own money
~. 4. a lsgs date Of their taking possession
VI the rsiroad), Ia repairing, imrrovng aud
operating IL. the sum Of SlOGlR5G 90. AMI that
they have received from earnings and other
sources If revenue the sum of Sg2v4gs -. They
add to the expenditure side Of the account the
sum ~ sBi i3S as balance to the debit Of IN
terest calculated az per cent. pcr annum ON
each item 81 receipt and expenditure, and then
they ind total general balance IN their favor OF
the sum above stated. VIZ. SlWS0ils5.
Therefore expended si3i.dOo4T moro than their
earnings. according to their own account. aud
contend they are entitled to be paid that SUN,
together with S3Gl,jJl.3S additional rs bal
ance Of interest in their favor - total,
Si.09603l.Sj and all this inpreierence TO
the first mortgage bondhOlders OF the
v. 8. and 4. v. X. Co. That is To say, thew
claim. in contempt of the decree of the supreme
Court of the United states which prohihits
them from setting up OF claiming any right,
title, or interest under sale or under said deed,
to own the railroad still. because II sold the en-
tire property would not bring more than $lUOO,-
90 IN cash, II so much.
sl.3O0OOO PROFIT on An $500 INVESTMENT.
the consequences would be these The heneil-
Charles Of the decree OF the supreme Court-the
mortgage bondhOlders-wo Get nothing, ana
IudelinQ and associates. who were condemned
by that decree, would be twice paid for cXpend-
lures they had no right or authority to make on
any but their own account and at their own
risk 1rst, out OF the S1.1220O0 OF bonds granted
them bv tue Legislature OF Louisiana in 1865 and
1872, and secondly. out OF tho proceeds OF the
s.le OF the railroad. This would be case such
work on "Vendors and furch sers." as pos
SCISSOR OF property In bad faith claimi % have
repaired and improved an owner out OF his
property" said Tot truly that this rdnsacttC
throws Mr.. George II. Pendeton and hr. Bel.
knap into the shade and that we have in Louis
pert practitioners In corruption In and about
WahingtonI
the men whom the supreme Court Of the
United states has STYLED fraudulent pOsses
sors" are allowed what thcv claim. they viii
have m ade As profit out Of this speculation IN
a railroad prcperty. for which they never paid
more thsn 500 or <s0O costs OF court tue sum
| Of <1,3i9,e,j6O.