The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1877-04-06
became due; that ss5o ooo of said oh.

became dae; that s350, COO of said OBJ
lieations-a lien upon. the line from
Sandusky 10 Tifin were due and un.
paid and liable to foreclosure; tha,
be lease referred to was fraudulent,
because the par'it could not lease to
themselves; that in consequence tile
C. s. & G. Was liable to become insoiv.
ent: that Fariow has been AUTHORIZED
10 guarant 81. zoo. 600 bond of the
Celaatbes7-Gt.fci ard Springfield
roac, which il done would result in
Insolvency of t.Ie G. s. sc.
In conversation with Mr.. Sloane. by
the Registers reporter Sloane insisted
that the Eastern management had i'm.
posed onerous burdens Oh the C. 8. &
c. for which it had received no equiv
alent. He ciaimcd that the stock and
property of the road had deteriora,ed
In value, and pointed to the fact that
when he surrendered the management.
there were 922 freight cars belonging
to the company. $50 of which he had
built aud placed upon tile road; that
the hrst year after, Presi lent Fariow
had reported bat 9O5 with no new
ones built, his next report was 900 of
which 10 were new; his report for 1876
showed huf S74 cars, a net loss of As
cars. with The rest in bad or depreci-
ated condition; that tile locomotives
are III n wornout condition excepting
four or live; tIar the stock of the com
pany was worth in tie fail of the pan
ic FROM 40 TO 46 cents Oh the dollar:
that /. WAS now worth but five to six
cents: that the Board of Directors
outside of Farlow do not own more
than {, COO shares of stock, and are but
kept on the board to obey Farlow's
directions. Sloane's object, as he ex-
presses it, is to secure a vitiar;cn of
the lease of the Columbus division, and
then endeavor to unite sufficient capi.
tai at Sandusky to procure control. of
the stock and operate the road in the
interest of the stockholders and of
Sandusky City.
The Registers reporter also called
upon Mr.. Brown, the late manager.
who returned to the city after the new
management had obtained possession.
His statement was that he was in ig.
nofanoe of any intended suit against
the company. He was of opinion the
action originated because of the lease
of the Columbus division, of which it
charged InIsnaDagemeBt He denied
there had been mismanagement or
waste, and pointed TO the fact that Is
miles of steel rail had been laid the
past year-more than Sloane ever did
claimed that trains were run faster on
their road than on any other Ohio
road, last summer, which could not
have been done if the road was ia bad
order. He had Just purchased $50
600 worth of steel rail, which he could
not have done if the road were insolv-
enf. He thinks the Sheriff has laid
himself Liable for damages, as there
was no warrant for using force; Nor
does be think the new management
can hold because OF the fact that the
claim for which. possession has been
taken, is Only $3.50, 900 while the pro-
perty he'd is worth millions. No
court would allow the claimants per-
rnanent control of the property on so
slight a claim.
Mr. Farlow, the late President, it
is understood, reached Sanjusky on
Monday last, and will fight the new
management to the last. He has re-
tanned Judge West and Mr.. Bowman,
of Sprio gfsld, Judge Seney, Of Tifin
and John n. L-eman, of Clyde, as
Counsel for the late management.