, 1877-11-11

The New York Times gives the following ac-
count Of the decree Of, foreclosure and saic Of
the Erie Railroad granted by Judge Douohue,
OF New York:
\ decree Of foreclosure and slle OF the property.
rights franchises, etc, 0! tue Erie Railway Cum
uany has been yranted oy Jud.e i'ono:lue, III Su~
prcine Cor:t, Chambers and there appears lo he
nov prospect Of the railroad's soon pAssin.
out of the Receivers hand. The decree was
granted in the suit Of the Farmer Liam y Trust
others. taat bein. one OF the Two suits in which
the Keceiver.s appointment was male abou. two
lncnt and contains minute and very definite rrci-
tails II first sets forth the MORTGAGES now on the
ffspsn Tsse 9sie ts I; ai n arr
proper, and in amount arc o. fellows: First
mortgage s. 4s3. 900; second. s., Ia, ouo; third,
$7oy, 3oo. The > new mortgages arc az fo!@lows: @
The SIKH, made to the Farmers Loan and Trust
Company on Sept ], 1870. SIG, ti5G o0o, on which
containing Two parts. one fur $40 900, 600 and the
other for SIS, co9 900, on which 81, s9s, O,o. 50
and s.. $50, IL! 80. Of interest became due.
spretiEely. OH The Isl inst Theamouni due By the
to So 1U7, o7s 80. The decree then rectes
r.: other 4aIts WI which 1. were nronght BY the
Jersey and Pennsylvania, where the Erie
Company has propcrty, in aid Of: the suit
III the Supreme Court here. These suits
pending: recital il then 1nade to the effect that
the ooIdholders Of the Erie Company have ap~
pointed agents to form new company unlcr the
laws Of This Stale To tas new company, when
organized. the decree authorizes the sule Of the
present Company effects to be made, provided the
new corporation is the highest bidder. The decree
also authorizes the tun=icr Of Li6 the proposeu
new Company, as well as the assigning OF c1ecu-
tory contracts. George Ticknor Curtis appointed.
the Referee t" sell The Conpanys, property. The
Farmers Loan {, Trust Company is permitted to
abandon aud discla leasehold estates and interests
on notice TO the Referee The sale OF the property
Is to take place in this city and is to be for cash
Tic property be sold subject 10 the Receivers
contracts. Ex-Juoge James c. Spencer is to
audit and mass upon the accounts OF the Receiver
be found due 10 the Receiver, upon the account
ing is to b. lien on the property u q new
eompanyis formed for by the bondholde5s. :1 the Ne-
bonds anu coupons far their face value, pro
rata, for The amounts found due him. The sale Of
the property need not be had until after the suits
i'll the other States have been brought 10 jung-
mcnt@
THE NEW ROUTE TO DENVER.
The extension OF the Longmont Branch from
Longnont to the Union Pacific Road at Hazard,
about scvcntv-tiyc miles, is completed, aud
trains are now running over it regularly, It
was undertaken only three months ago by the
Union Pacific Railroad Company to give them
an entrance to Denver independent Of the Den
Vcr Pacific 1t is stated that the total cost OF the
work, Inciud1ng track, stations, water-tanls, and
everything ready for the ro]]ing-stock. Vas only
about s'.50o per mile This new line gives the
lineage a. Northwestern, Chicago, Burlington
y Quincy, and Chicago, Rock Island g. Pacific
direct route to Denver and Lougmont via Omaha
anu I1azard. The meetings between the Gcu-
eral freight Agents OF the above roads aud the
Union Pacific at the Grand Pacific Hotel were
iof tae PURPOSE OF making arrangements In re-
gasa TO tl'as business. and the proper divisions
y we're deei9cd upon. There tan be no DOUBT
that tue Chicago i Northwestern and tue other
rol'1s leading from Chicago to Omaha will be
greatly benefited by the ncw arrangement as
Tie new route is much shorter, und business
wall E" straight through: Much of this b@1s-
ness heretofore Went via St. Louis, because Chi
caSo had no direct route to Denver.
THE CHICAGO & ALTON.
A table has been furnished the Rail,cau dos
showing the comparative increase or decrease
Of earnings Of the Chicago & Alton Railroad
Tor the last seyen months. Summarized, tic
net decrease appears to have been as follows.
April, s25.764; May, sl02,390; June, s9a,5l0;
August, $2as,535; September, s50,1157; October,
ss5,0S4. The explanation for this heavy fall |
ING of, says the -dge, is in
part the almost total failure Of the |
corn crop along the lines, the suspension of
operation of coal mines at Wilmington and I
other places, and the stoppage Of the extensive |
lrun.nils at Joliet. Theexcessiye cutting rates |
ns lnsotyent competing roads. moreover, has |
oeeu serious difficulty, but the efforts towards |
= a,: GenefA understanding among the roads on |
tne oasls OF mutual effort to sustain reason
ap!c rates promises to work eventually hene- |
G,Il ,n te4ofns. Inc Importance, however, to the
GGnca@o d Alton OF line of its own to Kansas T
It} seems to DC fully admitted by the Direct
~, ~ >, su II .s stated that the mission of Presi-