The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-29
End Of the Blocker Street
Railroad SQuabble.
THE LEASE GRANTED.
Reasons for Delivering The Road 10 the
Fwenty.third Street Company.
Interesting Decision Touching the
Stuyvesant Estate.

The long pending litigation in relation TO the Blocker
Street Railroad which has from time to time been re-
ported in the HERALD was disposed OF yesterday by
order OF Judge Donohue made by consent OF all parties
to tho litigation. Stockholders and creditors OF the
road rights affected thereby, will naturally
have interest in knowing the contents of this order,
which is follows The Blocker Street and Fulton
Ferry Railroad Company, having heretofore presented
to this Court its petition, verified about the 18Th
day OF March, A d. 1876, PRAYING that leave might be
granted to said company to take action respecting
proposed lease OF its railroad and property to the
Cwenty-third Street Railway Company, and that tho
petitioner might be authorized to act in reference to
The SAID proposed lease lot which copy was annexed
to said petion) its Board OF Directors should deem
expedent. and that such lease might be executed
behalf of said petitioners, under its corporate seal,
after resolution 20 be passed and adopted by its
Board OF Directors and that when said lease should
be likewise executed by the Twenty third Street Rail-
way Company said petitioner might have leave to de-
liver the same and thereupoRthe Court, after hearing
counsel for and in opposition to the said proposed
lease, having made order bearing date the 3st day
oil May, A. d. 1876 whereby leave granted TO said
petitioner the Bleecker Street and Fulton Ferry Rail-
road Company TO take action in reference to the
posed lease and to consider and act upon any other
offers OF lease hiring that might be received from
specting lease OF its railroad any other arrange
ment for the benefit of SAID company It's property and
franchises, its Board of Directors at meeting
meetings held Tor the purpose should deem expedient
and best calculated TO promote the interest OF the said
company stock holders bondhold and creditors,
but that before actually executing any proposed lease
Leases 10 any party or parties the said company
should report TO THIS Court the action Of It's Board OF
Directors the premises for the approval OF the Court
and said The Blocker street and Fulton Ferry Railroad
having presented report 10 the court
in form OF further petition, verified on the 18th day
OF August 1876 showing the said petitioner has for
maly requested proposals from nearly all the principal
street railroad companies the city OF New York,
without success and that it not practicable or Eos-
nblc favorable lease than TIE set
iorth annexed SAID former petition and that all
Me considerations set forth in the SAID petition in favor
81 the execution of the said lease sun exist, and that
HE directors o the Bleecker Street and Fulton Ferry
Railroad Company have in due form adopted rcsolu
hons declaring that the company has been unable 10
ELECT settlement of It's affairs, by other means than
Me proposed tease and tina, in their judgment II the
best anu most advantageous arrangement that can be
made Tor The benefit OF the stockholders, bondholders
and other creditors OF the company anu also au,horlz
Ing It's officers leave OF the Court be granted TO
execute roposed lease, also showing that the
directors OF the twenty third street Railway Company
have IN doe form adopted a resolution to accept the
proposed lease, and on said last mentioned petition
molten having been this day made 10 the Court
houcc TO the attorneys Tor all the parties who have
appeared each both the above emitted actions,
ana TO attorneys all the stockholders and other
persons represented on the hearing which WAS had
,aic lornier petition. and on this day Mr. John
Scribner .Ir, appearing Tor and having been heard,
s. counsel Tor the petitioner IN support vi tins notion
h'ssrs. pevlin Muller, attorneys lor plaintiff Har
TN George h. sisture Messrs. sullivan, Mobile Il
Fowler, attorneys Tor a. ). Southworth, receiver;
kcssrs. Chathcld Ransom attorneys Tor Mary a. Les
aud others, anu Mr.. Henry A. Root, attorney tor
oiher stockholders, having also been heard and due
denueration beng thereafter had. Now, on reading
anu Cling the peIton Aforesaid, anu on motion OF
Johu NJ ScriUncr Jr, of counsel Tor the petitioner II
ordered hat ,hc Board OF Directors Of the Blocker
and Fulton Ferry Railroad Company, respecting
lad proposed lease, be and is hereby approved, and
that the said company be and II is hereby authorized
by It's proper officers TO make. execute and deliver to
The TwenIy-thir Street Railway Company, the said
proposed lease on the same, being likewise executed
by pro osed lessee. Second that the order
Court heretofore made and entered in the above
tiued action, bearing date the 23i day OF December
ls,5, whereby ALVIN :. Southworth was appointed
receiver OF all t1se property rights aud franchises
Of the Blocker street and Fulton Ferry Railroad
Company be and The same hereby is wholly
vacated aside and aunuled, and no objection beng
inaie 10 tie accounts OF sau Icoe'el - iui 'uer or
dered that The said Alvin souihworth be discharged
: receiver; that his accounts al rendered stand
approved, and that the bond ned by him when he en-
tered upon the OF has Office be cancelled Third
It is further ordered hat the SAID Alvin : south
WORTH receiver do forthwith over. surrender,
iraLster, deliver and restore to SAID petitioner the
Blocker street and Fulton Ferry Railroad Company.
and TO the officers and directors of said company ali
aud singular the railroad OF SAID company, with all
tracks, horses, cars and equipments, and all lis
franchises rights aud privileges and all other property
of whatever name, KIND or description which has
have into his hands possession control dur
Ing the term of his recevcrshIp and remaining
in HIS posscssion including all books, papers anu
counts relating 10 The sand company, It's rail-
road business affairs OF any aud every
kind Fourth--lt likewise ordered that tho
twenty ird Street Railway Company be and hereby
required the execution and denvery oil SAID lease
paw JOIN NJ Harlow, trustee the accrued interest
all bonds secured 10y the mortgage tor foreclosure
which actions lnstutcO, except those bonds
the holders of which united shall the APP
pllcatIou the Court Tor the aforesaid lease F-lhe
plaintiff Harrow hereby authorized upon The cxecu-
ton anu delivery OF said lease and upon compliance by
the Bleeeker street Railroad Company aad the twenty
third street Il ilway Company with the terms oi tins
order, TO consent that the action commenced by HIM
ana all other proceedings by him Instituted for The
foreclosure said mortgage be discontinued BY tho
OF the lease thus authorized by tue Court. The
Twenty third Street Railway Company assumes the pay
ment OF O. the mortgages and floating debt OF the
Blocker street road and guarantees dividend on
the capital stock The lease has been already executed
by the respective parties in due form.