New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-05-23

up TO the opening prices. and In Delaware and Bo(
son Canal Company were 4 per cent hInh
Ihere were frequent rumors Of the sppoinkae1ke &
President Gowen and Edwin NJ Lewis ss rccsfveSx
of the Reading Company. but it was NOT krov y
yesterday In this city that any appointments 81
been made. w, !
Mr.. Lewis, the President of the Farmers' and M
chanicS Bank, Of Philadelphia, which 10 said t. ~
the largest creditor of the company, had charge ~
the settlement Of the Jay Cooke estate. Hc issai0
also to have been largely interested In the Moth
Pennsylvania Railroad. which was leased yeon
ago by the Reading Company. BY friends Of Presl-s
dent Gowen it said that application for the sp-
polutment of receiver had been made. but THAI
the order OF the Court would not ho made knowuf
probably until Monday. A private dispatch from
PRESIDENT Gowen indicates In part the probable
management of the company in case of his appoint
ment as o receiver The dispatch, which was re-!
ceived here late Friday night. was as follows: II
Inere y no necessity for panic. Our action seemed
worth more in the present condition than In tho pas
oans Ro% srs w ny e
10 ueDt tne property VIII be preserved intact, roth
paid and old wages certacstes Sedee%ec @ The Tss
pany is earning money and, having stopped the dxIin
With the other companies in maintaining prices q oo
1t is really better OF thanit before the sfoppeee
President Sloan, of the Delaware. Lackawsnua
and Western Railroad, who went to Philadeiphia
Friday night, yesterday confirmed the above dis
patch SO far as the present policy of the coal COM
panes is concerned He said that the restriction Of
production would be continued through next
month. 1t appears that the Reading Company was
indebted to several other companies In the usual 4
interchange OF business. and that the debt to the
Lackawanna Company was about $40 1000. Presi-
dent Sloan said that his company held income bond6
loss. He said. Also Il at President Gowen had ss-
delay. = :
Some little curiosity was manifested during the
gay In regard to the losses by the failure.s
Il seemed to be clear that no largo losses
reported in Philadelphia, but the eject Of
them was unimportant. BY some IL was suggested
the Reading Company, might be affected, but no in-
formation OF the result Of the news at London was
received The real results Of the failure would be
yesterday to estimate fairly the extent of the disa
ter. Those familiar with the operations Of the CONF
gany SAID that it had lost valuable friend In ex-
Secretary Bore, who had indOrsed the company,g 6
paper almost without limit No one had been found
TO supply hs place. and the maturity of some OF the
Immediate cause of the failure.
SUIT By The NEw-JERsEY CENTRAL
An application was made to Justice Donohue yes
terday by Francis s. Lathrop. receiver of the Cen.
tral Railway of New-Jersey. for o warrant Of st,
tachment against the property Of the Philadelphia
and Reading Railroad Company in this State. The
petitioner stated that he about to bring an ac-
tion against the last named road receiver to re-.
$45 900 due for services rendered by the New.
jersey Central Railway in transporting merchan-
disc for the other company between February
and May 81, 1880 1t was also stated that the
property of the defendant company sought to b.
attached consisted for the most part of real estate
and G. G. Haven were offered as sureties, and thu
attachment was granted.