The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-07-25

.uirec nhu nhll years LOOKS ms though degree
e1ualled in The records Of the Tweed Ring. or
some heavy Government speculator.
can DO taxed at tho rate OF about 100000 year
to protect tho interests OF creditors. IL II UNI
reasonable FOR those same creditors to demand
al your hands the stoppagc of that great outlay
and the Immediate disposal Of ali Of the prop
eerty 6y public or private sale for the benefit Of
report and not feel that The trustee and cons ris
mttco stand convicted over their own sigma
,ures GncT on gross negcct Of The duties and
OF designedy cnriching themselves at tho ex-
prnse OF The estate
On the 23l day OF December, A. D. 1874. the
trustee was directed 10y the committee TO make
a dividend ind distribution To- the creditors OF
,h ,.s eifia'c; as fos4wsi Fiyc pr cent in Gosh
distribution in Kind. ~ follows Thirty i've
Fer cent. In Northern Pacific Railroad bonds at
Steam Navigation Stock at $40 Dor share: 6
per cent. OF Lake Superior and Mississippi
Railroad Company's income bonds at Az pcr
OF coursc the creditors all acccuiol the cash
dividend aud many of tlon also took the bonds
and stock allotted to them. but many others re-.
fused la Hccept these collat"ras in payment II
their claims. On page SO Oi the late report is
hciollowing:
sgcce,,a .hs ,, 81 n.n NJ ylc or IN ,t nc.r d.
Ni,nu,i ,',i' W. ', , N IN tNv "iet'n S ,
Pacific Railroad Comp aud "f common stock vt me
ucou, honl, ol tie Lane superior aud Mississippi Rail
road tUmlnut have been converted
These stocks ana bonds have been I'm tho
pigeon holes ~ the trustcns desk fur.thrco and
n hall years. waiting for some one to come for
wnrd and receive them: and stu thcv wait.
Why not convert them into money. If they are
not " unsnlnhlc.' and thus swell tho amount -
cash available for dividends? Tho Oregon
Steam Navigation stock will sell alta price some
where In thirty This stock pays u dividend
sometimes 90 - share. and sometimes one OF
90 cents. The latest was 81 cents. The company
hasa monopoly .of the upper Columbia river
trade. aai having small Investments and
immcnsc profits on their carrying trade. rcgu-
late their dividends in accordance with tho
amount " business done. The vnst region 81
country In eastern Oregon and Washington
Territory supplied 10y the steamers Of this COM
panv was rapidly illllng w. and the trade pros
poets were So good TINT an opposition line was
about ~ be PLACED on the route. But all Of this
Is knocked IT. tho head w the Indian war wag-
ing in that country The settlers have been
driven from their farms the harvest is neglect
ed and emigration j. stopped. Hence your
dividend IL likely io De n long time in coming.
The greHt majority az the creditors are not
stock lohbcrs. ana would rather have IA little
suppose We look into thisiwindlnc-u plan Of
Mr. Lewis. He starts out with the notion of
closing up the estate. vet i'm the first line rr1-
poses To reserve Ogout2. the Lake Champaign
Iruporty.andU few others from the scheme Tho
arpuism"rt of The prop,rty having tNen ma'ie
oli % cash or auction hH-i- the several creditors
VIII have their floating ,.rip i--uni g. them
upon tho signing oi arrl.asc. Then the mop
eriy VII bc sold IT, me highest bidder II the
schedule price IT, ou"red. THIS VIII force the
creditors 10 buy largely " the assets. or keep
the property In the hands 81 the trustee, with
expenses arvumulaiuE. Tho scrip Will become
tho loser
Tho trus,oo said ruhliolv NJ tho n,eefino m
Non.tov ,,npn nm, ,r,tn- Hon ,vns rin,l - ecii
out the whole concern 10 tho highest Ldier
That il could NOT M. done ,vithnut immense ioss
H. III. estate THROWN, 80 inr,,a n ii.et IN
stoeks unon tho nnrEet ~ once hs said wnnii
s., dornorniizn II ns To- uitcriv destroy ne veluo
Tho Western bonds Of which The estate holds
nearlv n hundred thousand n,res Mir lewis
said would moi bring nj auction more than In,
Government price Al Is an acre, though really
M~l'" iiv 90 w. Ivy .n't tiie ,S,l..in',' hc
Mi III the bonds note. stocks ma Lands rxe,.n,
two or IN rec ~ tho most yniuaiir II these mr.,
ali 10 Ice sold In TINT way why GO to an OK
H. al ii',,,I ,V,', 80 ~, +" ~. ' 'iIu