The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-09-10
LOCAL MATTERS.
washington and Ohio Railroad Case

Washington ana OHIO lkahfotsS SoHS'
ARGUMENT OF HON. r. p. @BAYARD-JUDGE
WEXFORD DETERMINES To ALLOW THE
OFFICERS OF THE COMPANY TO CONTINUE IN
CONTROL, SUBJECT TO THE ORDERS OF TIE
COURT. DURING THE PENDING LITIGATION
THE ORDER AS ENTERED. 80,
Before Judge Wexford, on Saturday, Hon.
Thomas F. Bayard, of counsel for plaintiffs
in tue Washington and Ohio railroad case,
made the closing argument. He contended
that the company is utterly and hopeles$ly
insolvenf, and that its affairs are NOT being
managed to the best advantage, and that Nc
Comb and his associates have such an inter
est in the property as entitle them toask for
the appointment OF receiver. In the
beginning of his remarks, and more
than once afterwards, Mr.. Bayard re-
ferred to Colonel Mosby, characterlzlnS
plaintiffs as railroad-wreckers and pirates,
and reDe!led the assertion or intiHation in
severe vet perfectly courteous and dlgnlfled
terms He didn't use 4 harsh epithet or get
in the least excited, but his condemnation
of Colonel Mosby's language was quite cf-
fcctire. He turned Colonel Mosby's words
against Colonel Mosby's clients to show that
such was the hostile feelings OF the officers
OF the company for plaintiffs that the inter-
ests OF the latter would not be safe in their
hands.
THE MONEY ADVANCED.
Mr. Bayard argued that it was matter OF
indifference whether or not the S340,000 in
bonds placed in plaintiffs hands to secure
the advance of S225, 900 be called "collat-
cral." They were given to secure the adj
vance made: they were plaintiffs security,
and not a dollar Of the bonds had been
sold.
Mr.. Bayard stated that his clients would
be very glad to have returned them the
1926, 1000 advanced [if done quickly, and
say nothing about the interest.
lie twitted Colonel r. II. Lee with ap-
pcaring as director Of the company, as wit
ness, and as attorney; and, referring to
Jadee Mcrcdith's statements, said he ac-
Quilted the Judge of knowledge Of facts of
the case.
SENATOR BAYARD.
Mr.. Bayard is a gentleman Of pleasing
and commanding appearance. His face Is
very fine one. He resembles Rev. Z. \.
Peterson, OF this city, but is no doubt some
what older. His shoulders are broad and
we'll shaped, and his head is poised with an
cyactness that gives outward sign OF his
iincly-balanced mind. Mr. Bayard's legal
arc no less attractive than his
political efforts, judging by that OF Satur-
day. lie doesn't travel out OF the record
for a moment, or ever indulge in mere ORA
torical splurges.
In this case he showed Il mastery OF the
details OF the McComb negotiation and his
tory Of the company that could have come
only through close study OF the papers,
which documents, though probably very
important, arc certainly not spicy reading
matter. He speaks with deliberation, pre-
nouncing every word fully and clearly, yet
not lingering over wclI-rounded points too
much. His speech and gestures are cle
CANT, and there is n simple dircctness about
him that is quite charming.
JUDGE wELLFORD's DECISION.
At the conclusion Of Mr.. Bayard's argu-
mcnt Judge Wexford proceeded to an
nounce his views. He regarded the COM
pany rs insolvent, and believed that the in-
terests of the plaintiffs were sufficient to
Justify them in asking the interpostion OF
the Court. The bonds held by them, whether
rightly or not, called collateral, were, it
seemed, in the highest sense their security
for money advanced. The Judge, however,
failed to see any evidence Of fault or default
on the part OF the officers OF the road, and
he indicated his purpose to allow them to
remain in control subject to the orders OF
the Court during the litigation that may be
necessary to establish the prioritics OF the
several liens and to have 4 sale df the road
and franchises. -''''s'
OBJECTION.
Mr.. Bayard objected to the Mckenzie
remaining in charge OF the
ycfn Of
defendants to plaintiffs rights he again re-
ferrcd to the terms used by Colonel Mosby
in speaking of McComb L Co., which Ian
suagc Colonel Mosby's associates had not
disavowcd. Mr.. Bayard really didn't think
that plaintiffs interests would be safe in
their hands. AS their claims were disputed
by the company, the company would he in
ciined to disregard them, and might give
preference to junior ones.
Judge Bates followed Mr.. Bayard in a
short argument in the same line.
Mr.. Barton said that he had information
that the treasurer and other officers had not
even given bond, and that there was now
about $4,000 in hand. ,- '
THE SITUATION ACCEPTED.
Judge Wexford said that tho officers
could be made to operate the road under the
supervision OF the Court; to deposit all
funds above actual current expenses in bank
subject to the order of the Court to make
monthly report to the Court; be required to
give bonds for the performance OF their du-
ties, sc.
Aiter some further informal discussion
the views expressed by Judge Wexford
were acquiesced in-at least, not further
oppoSed-and the lawyers set about draw
ing up the order.
JUDGE wELLFORD's ORDER.
From the rough draft submitted BY coun-
sci, Judge Wexford will prepare his order
putting the road pending further proceed
ings into the hands OF the present directory
as officers of or responsible to the court. In
other words, the officers vii! be the re-
ceivers in all except the name. The order
overrules the motion for appointment OF Ire
ceiver at present, but with leave to the par
ties to renew it hereafter, if necessary. The
treasurer OF the company is to give bond III
$4,000 for the faithful performance OF his
duties. The president and treasurer are to
make an inventory OF the debts and re-
sources OF the company within thirty days,
and file the same with the court. Ali
the money now in haad not required
for immediate current expenses now, and
all that hereafter accrues, monthly, to be
deposited in the First National Bank of
Alexandria, subject TO- the orders OF the
court in this cause. The president and
treasurer are once month to make full
and particular report to A. Austin Smith,
one OF the commissioners OF this court, and
accompany the report with the proper
vouchers. ANY party may move the court
for such order in the cause as he may here
after regard as necessary.
The status OF the bonds held by McComD
and others will be matter for future consid-