New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-15
RAILWAY INTERESTS.
THE ELEVATED ENHANCEMENT

THE ELEVATED ENTANGL EMENT.
ARGUMENTS BEGUN BEFORE JUSTICE MUSHROOM IN
SUPREME COURT, CHAMBERS. on THE PETITION
OF IiiE NEw-YoRK COMPANY TO REGAIN POS
SESSION OF IT'S PROPERTY.
lBf TELEGRAPH THF rRrRuNE.l
KINGSTON, \. Y, Sept. 14-The petition of
tue New-hVrk Elevated hAroad Company against the
Manhattan Railroad Company, to show cause my it
shouid not regain control of its property came mp for
argument before Justice Westbrook az the suprefne
Court Chambers here at to-day, the having
oeeh ac)oarned from August III 10 the present date
o"g 10 the inability of Attorney Ward 10 be ia
attendance ON that day. Judge Consroek Edward r.
"uam Dprsheiner and r. Lawrence appeared for
.he New-fo Company, and william c. CULVER Julian
y Davies and Judge Ashbe Green. Cor the Manhattan
company. Aaron J. Vanderpoel, General swayne and r.
q haHsom represented the receivers Attorney General
ward appeared for the state, George W soren and
Charles +. Stone for the Metropolitan Ccmpany and
ira slaher tor Mr.. Kneeand MT william Strauss ap-
peared for several OF the Manhattan stockholders Cyrus
REID president of the NewYork Company was also
present
the case was called at the adjourned hour, and after
""ne SOM 4me for the arrival OF the Attorney
eia ah Adjournment until O'Clock was agreed upon.
oh the reassemblng o. Court i'm the al ernuon Mr. Racn
Opened the case for the petitioners reading the points
tine motion from printed brief From this 1t an
pears that the Manhattan halfway Company which is
NO" III cohtVi OF tue entire system of elevated rail-
roads I'm New-YorS, owed the New.York COMPANY
$46ocoo on July l. dividend rental 1862 500 and inter
est on first mortgage bonds 1927 800 Ia is slso
claimed by the petitioners that the Manhattan Conn
pany IL in default for the payment Of taxes ON
'ne Ne"-fork Company's property for the years
1879 ard 1880. 1t ia claimed that the latter
company owes no debts except $S,5O0.0Oo fret
mortgage bonds, AMI has surplus On hand; also
toat The Indebtedness of the Manhattan Company the
New-n ork Company is daily increasng railways
OF the New-fork and Metropolitan Companies are
now run at the expense AMI risk OF
their rfv
mas mol been kept at the standard demanded by
the terms OF the tnpartite agreement and lease con.
siderable number Of the gines of the New-York Com.
pany having been sold by the Manhattan Companv The
petitioners therefore pray that the company last
named and the receivers recently apnonted
oy TINS Court he directed TO deliver into their
n"hus inc railways and all other property of New
YORK Elevated Railroad Company. or for such other
order as may be just and right Ar Bacon read many
aidavits and other papers in sunoor, OF Tho
priton Ginning that in view of the facts stated the
Manhattan Company had forfeited The ight TO- and fr
'hef continuance OF the lease by which holds and
operates the NewYork Companv's property and road
lie further claimed that the rapid extensions of The
Elevated roads of the city were i'm advance OF the
punhc r. gurements When former, the upper terminus
was nttl -nntl-7t the roads at profit they
IN at case nat the present earnings OF Manhattan
were ihsnlhcent to pay the rentals and charges
Mr. Davies Tor The Manhattan Company thon directed
notion watch IN effect consul lirI rtf,si .pnias ~
I'H oi thS aiegaous charged in the petition. he
u1 tctse and fUierrei 10 it, provision, in detail.
Villain Dorsheimer then began tue opening argument
lot the petitioners lie CLAIMED tAaI tbe NnubnIfsu
Company was now AN msUlyeut corporation, aud NJ
Such was utterly incapable or contrd tie
properly OF Als cleuL Tue insolvency alleged Was a
Ia't winch c"ud not controversial be said and was
even supported by the the president an ts,
colP"I"tuh himself, ana also by report OF the re-
celeis appointed by tls Court. He cited the ease OF a
partnership wherein insolvency of one partner dis.
sVNts tue eAlstS Partnership and read various a,l-
thOF4tIcs an support o That proposition.
submitted Ia tue Court thuJ the New-Yurk Company
vac Gnieu 10 'ne iul possession OF Its properly, and
s"Vu tnc Court Ia direct JHe oe saln
POeTy CLAIMING the protection OF the lease which cx.
pclty PROVIDED sdch forfeiture. lie argued
tn 10y reason OF sacn Insolvency, the Manhattan Com
PaiS IN now unable Ia perform r,ourrd
ON by tue tease, ana said therefore, that sa lease
hd absolutely come 10 an end, practically tue same a. IL
tiC prescribed 800 years Aad ctuaIiy eNIire,l
AT lht conclusion Oi .hr. DOrsncl.urr's a
coch, the Ease was adjourned uutil $50 "A, M to-
moro" IL n not Thought that the can b.
ed