The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-11-16
RAILWAY MATTERS.

NeW lOFk Orlu, says "OnhnCory aS'Ohs
between the Missouri Kansas & Texas rail
way, of which Mr.. Jay Gould is president,
and the Union Trust company,o New York,
of which Mr.. Edward King is president, have
recently attained their first climax of proce-
dure; and although the relief sought in the
action is to be obtained by the federal circuit
court, supposed to sit in Kansas the hearing
will be had in this city by Judge Miller, on
Thursday. The railroad, it seems has been
for some years embarrassed, by having
the New York Trust company prac-
ticslly controlling it, in consequence of
substantial, although not judiclally authorized
foreclosure of the mortgages which in the
inception OF the railroad was made to the
Trust company. For time Mr.. William
Bond was receiver and then an advisory
board of foreign ockholders-mainly in the
Nethorlands-in conjunction with the Trust
company, we're acting as managers of the
road, OF which by virtue of the laws Of
Kansas, Missouri, Texas and of congress the
company was owned. The road is com
pletod and operated as follows: From
Hannibal southwes!erly through Missouri
I via Sedalia, to the southerly portion of
Kansas, and thence through the Indian terri
tory TO Denls1n, in Texas, and also from
Parsons, Kansas, nOr,herly to junction CITY.
and also from Holden, Missouri, to Paolo, in
the state of Kansas. A cOnsolidat d MORTGAGE
had provided for securing an issue of bonds
to the extent of Sl4 000 900 for the calling in
OF certain mortgage bonds heretofore issued
by the Union Pacific southern branch
and by the Tebo aud Neosho company,
and by the Missouri, Kansas & Texas railway
company. The FIRST Z, 3i5 consolidated bonds
took the place of all outstanding bonds, and
the remainder up to No. IA 000-making a
total of l4,0O0, 900 were used for company
purposes aud extensions. On tho 18th Of
lat October, Mr.. Jay Gould, os president of
the road, rendered the Trust company $500
OOO cash, and advised it of S250,000 of cash
IN Its hands, which together would pay the
two first mortgage consolidated coupons in
full; and be demanded restoration oe the
control Of the road. la the course of his
letter, President Gould said; IL may add that
holders of the stock of the company and of
its first mortgage consolidated and second
mortgage income bonds, TO very large ex.
tent have already approved of the
policy set forth in the accompanv.
Ing resolutions of the stockholders and of
the executive committee and thai 81 00I O0o
have already been subscribed as a f1nd for
tho extension of the company's lines man.
TONED in the said resolutions, but on the
fundamental condition that this COMPANY
shall DO restored to the possession of its road
and property and enter upon the oonslrnc'
ton OF such extensions on or before the first
day of December next" II ia under sach
circumstances that the Trust comnanv NV
Mr.. Wheeler II. peckbam. its solicitor bSSs
fled an Immense chaucsry bill of reSitei, L"1
asking the advice of the Initial SIT civ
cult court of X mans. ON itsenuitv eiio os T.,
whether il sh II take tbe million and snrros.
der possession of the roa6 with pncb ,,rn.
tective DEGREES as NAV be- giyrp tbo tru U
company by the court Tho Tailwav has NOT
only answered bv lbs solicitor oy.J,3,,' ~.
L. Dillon, but has filed a cross chonccry Kin
setting up ON lis rart as n nlaintiT oil ybint
its answer alleges, and also demending n do1
cree for possession ON or befnrn INA LAT ~
December next. Each bill asks Intermediate
injunction NJ inst any Meta oftho other nart,,
which can prejudice a speedy judicial dctor,
mination o existing state Of things. and al
rs to preserve the interests of ali con.
cernod.
Juugo CrOsDV, OF Houston. Vpntilatnl hia
opinions in the New Orleans Democrst , as,
sorting that the regions tbat will bo onorcl
up by the roads now building and about w.
be built in the northern states of Meyico arc
the richest mineral countries ON earth and
he cites Humboldt AS sustaining him in ihe
assertion. The WELD of nrecipns mo,als ~
all kinds in those countries, as soon IA cani-
tai and enterprise shall have devslone6 tbo
mines, he declares, will far surnass. ahvthinc
ever before known in tho historS
of tho world The RAILWAYS w,l, o~ioi:
ly people these marvellous ,ottnor.l
and agricultural states n nav imnotna vii; M
be given TO trade. Enumeration vii a m,.'
there, and what would have heer villa | ond
almost uninhabited regions. will bocomo omo
of the richest and most nrodnctivo n ouU
of the entire country. pau '
Rusk, Nov 1l.-0ur people wero addrosso5
last night at the cour.. house bv Major I p
Douglas and CAPTAIN ". s. Herndon 1f rylnr
president and vice-president of the Gn}f g
Kansas Short Line railroad, In theipterest nj
said road. These gentlemen, who renroson,
eastern capital, assure our peonlo and has,
of Jacksonville and Alta. tbat tbe y" , '"o'o
business, and that if their nronositions
relative to aid, are accented Inv the pcoMio %,
the several places. thov will yron al pa,,;
at once what Is known ne The Rnst ,qa,t
They addressed the neonlc of .Iaclsnnwiil,
to-day on the same subject The indi,ations
are that the old tramwsv will vet const;tnto
part of the connecting link az the narrow.