New-York tribune., 1877-03-07
DEL4WiRE ikD HUDSON.

THE COMPANY DENIES THE CHARGES OF MTSMAN-
AGrME>T-HEARING IN THE ANDERSON SUIT.
The melton for a receiver OF tie Delaware
and Hu,leon Canal Company III the snit OF Henry Z.
Anderson inst the company was argued Yesterday
before Judge lawrence in supreme Court, Chambers.
Th, aiatiT charges that the management has departed
from The lawiu! objects CT the company ana has been
extrayacant a. special instances the complaint sos
o the caeta ~ the Albany and Susquehanna Road, the
Rensselaer, ana Saratoga Road and the New YORK ana
Canada RaO1 d, and sill more specially charges that
NE i.IraHgo HCuI with the EHe hallway Company IOf
the 5udi.g of ;ic Jefferson Railroad is tainted with
.ard or at least unfayorble to tie defendant COM
pany.
Iee answer substantially says that tho plaintiff was
not or the company books stakeholder un eight
a,s aite he brought the suit. county clerks cert-
cate ia submitted that Park TfOrJ, the propctors o:
the windsor o:c and others hay" Judgments, amount
in in all about S240J. agas on5 OF the same name
M lie plaintiff; po>s!biy Mir. Cloac suggested,
,oinci rt II oorj II t.c plaintiff was indebted
1g board, clJtae-, and family gi0ccries-h he had
farlr. TIC answer goes into serious cSp1na''Es 1t
stale, ii.i the company has assumed the payment Of
p,r cent on ,3.5OO,0OO of Albany and Su'Guehanna
stoca aad on S6OlJ,0G0 OF Albany aud SisIucaanni
bonds have s-umed the payment OF rtr cent on
>G-5 100 cf Rensselaer, and Saratoga Company stock.
and per cent $2,00oo00 bouds OF that company,
making tie nominal assumption Of debt Sl8,3o9lUo,
frin which should be deducted however, $2O029O0 OF
.lc stOC aGd bDa;s held by the company. leaving the
net guarantee SIG G3G,200 The answer admits frankly
that Oh as years operations, taking these leased roads
alone into consideration Tie company failed to paw the
guaranteed interest, the deficiency being Sil2505 o.;
bu the amount Gt coal sent over them has showed net
proI increasing up to 1870 when 1t was ~ SlOo006l,
rnnn Il fell Of, ~ 1876 10 }63O0G TAis falling off is
claimed 20 have the general result OF the panic Of
1919 The answer admits expenditures In improvement
of tese two leased Roads, but claims that by guarantee
ing the o those roads aud selling tEom at pre-
miu,o the company las been reimbursed Tor the i'm
prOyencns.
As to the New York and Canada Railroad the answer
soy3 il was a necessary extension Of the cOmpany's
business, bait for S5O0000O, half in stock half in
bonds the bOnd nave been sod but only 7S2 shares OF
tic stock the profits Of the frat year Sl1ss3l 43;
not cnou .h, course to pay interest on the bonds.
Goa, -,ucc Aug ~ 1876, has fallen from ~ % 10 - %
ton but thi, company sold nearly as mach coal-that
~ over 900 ohs-afteF Aug - they had sold in
! The eight months preceding. Inc purchase OF the
lutl aud the er ciOn oi the building IN C0rtLnGt-
settled on wnen everything looked promising Tor
GcwNOrk real state IN ~ Ine company nov" aIt'r
d1luctng $4,000 taxeS .nd the expenses OF the pud-
Ing receives more than per cent on lts inYcstmsnt,
though large part of the building IL vacant. lhe
president specially the charge aSainS him tna
hc has not cnicyOred t. maze tr Boston, Hartford and
Fri bonds 6ou dit tho Erie Railway Company to
that 10 build that road ful lien, ow
ing To interest In the New-IUrk ana Ncw-En-
gland Railroad lie answers thdt lie has taken no such
scps aud that such change wOIl, hr Ia advised rc.icto
the Erie Railway Company, which guaranteed them aHd
whose receiver still paving interest them. from its
liability Tie rest OF the charges OF the plantH are
denied.
Alter argument by ex-Jdge Bosworth for the plaintiff.
aud by Joseph H. ChOae for the defendant, Judge Law
rcseryed hin decision, saying There Is one Qurs.
about this Whether an owner OF 100 shares Of
the immense number OF shares Of this com
pauy should allowed intervene and the court TO
take grave step of appointing receiver particn-
Larry the statement IL not deued that wthin 90 ays
there Will election and another board ~ directors
may be substituted, II the stockholders so desire