New-York tribune., 1876-01-26
THE COURTS.
THE BLEECKER STREET RAILROAD.


RECEIVER sOUTHwORTH ALLEGES CORRUPTION, MIS-
MASAGEMESr. AND EXTRAvAGANCE IN IT'S or
FIcERs-RrLAIIoN5 WITH TIE TwENTY-rHIRD
STREET LINE.
AIavn :. Southworth, Receiver OF the Bleecker
Street and Fulton Ferry Railroad. applied yesterday to
Judge Rarret I'm Supreme Court Cha mDers, for pers
sion 10 come IN defendant I'm the suit Of Harlow against
the Company and defend il. Tie salt brought Oy MI
Harlow as trustee Of the mortgage for the first bond
holder forecloe the mortgage. Mr Southworth III lis
petition says that the examination OF the affairs OF the
Company reveals condition Of things to the last degree
iniurious to the rights all the parties in interest,
and combination OF systematic intrigue ana cor
rupon and wdntOn extravaganza, when mas TOT years
been detriment the public traffic. and an injury TO- III
not fraud upon, the stockholders and creditors oper
atnz solely 30 the supposed future advantage Of small
coue OF stockholders aud bondhoders, and tho com
pany is entirely controlled and sabyered by faction OF
s Inanagers who manage it rather in the interests OF
railway combination in which tho profit results TO sich
managers through other companies rather thah throuSn
the defendant company. Under the recent management
of the company large sums Of money have been wrong
fully and unawflly expended on legislation. and tue
management has wastefu prodigal and extrava-
CANT in the extreme" Mr. SOuthworth then charges
thar scheme foot turn over tho company 10 he
Twenty hr-street Railroad Company; that five dlree-
tors ia both cOmplnes That the operauoho vi p"It
Of the road has been discontinued to tho injury OF
the Bcccker Street Company and the great advantage Oi
tho entythird Street Company; that the Bieeckei
Street road mas never been operated In an honest man
ner bat has been victmized by theft intrigue, and rck
ess management to the extent OF at least $4,000
year" Mr. Southworth alleges also that the persons In
control Of the defense OF this suit tho members OF the
cique mentioned before and that their object Is 10 force
the sale To the Twenty y-tiird street road. -
Tne President Of the Bcccker street company Mr
Como, ar. Treasurer, and Mr. jacob sharpe Pesdon
U the Twenty third Railroad COlI pany. made ai-
,ayits IN OpposiDn They deny tatly that TIE ahtrs
uf tbe BlceCRcr street Company have been managed
carressy. eXtrlya-ant!y, or N tie interest VI any
CLIQUE. They say that til recently the company was
losing money Recently it has been paying OH uOhIns
CeD. At the rate OF ~ 900 per month Ony t"O O TIC
drector-TauI weed tnc largest bondbuldrr ana one
of the largest stOckBOcIs, has 10 alaics III TIE
Twcnty-tbuI Street Road, and jacob ohdTpt-aTe a.
rectOrs IN the companies. They believe thtt Tue
proposed arrangement with the Twenty third street
road will DO advantageous 70 DOtA Oohu
aud stock LOidcrs but before 1t can be ctricI
out majority Of stockholders, both by status
ald special order Of the court, must consent mOily
o the bOniuOldfrs hIs already asSentcd AM pIODaOy
majority Of stockholders VIII a-0 assent. Judge DJnO-
hue re,oryed his decision. sullivan, kObbe, FoWltr
appeared q receiver; John ~ scibncs LeYLn ana
Miller x Tu Ia Opposition
OIIIER SUITS AGAINST THE COMPANY.
The City has begun against the Bleecker Street
Railroad Company TO recover license fees It's
TIE People, through the Attorney General have brought
-n 10 dissolve tho Company accnn OF s Insolvency,
and 10 forfeit cAteusIOns Of its routes rantcd ny he
iafut. 81 1873 for failure the Franchise. ~ bOth
these suits Receiver 5OuthWVTh has been admitted 10 de-
Il nd the actions.