Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1881-01-07
Nancastcr frltel!;senrer.
FRIDAY EVENING, JANUARY 2. 1881
The Judge Heard From.

We suggested the other day to the
Messrs. McCalmOnt and the other gen.
tlemea who are agitating themselves to
secure a change in the direction of the
Reading railroad, that they had better
find out what the judge thought about it
before they put themselves to much trou-
bic or worry. They have ascertained
now, but not on their application, nor
probably much to their satisfaction. If
there is anything reasonably certain to-
day i'm this changing world, it is that Mr..
G0wem will retain. the control of the
Reading railroad property, and even of
the empty presidency Of the suspended
corporation. He and his fellow directors
having applied to Judge McKennan for
leave to postpone the stockholders meet
ing called for the 10th inst. by them, the
judge refuses to grant them such leave,
upon the ground that it is at present
none of his business whether they do or
do not hold the proposed meeting, rs its
holding is of no consequence ut all to the
creditors of the railroad company who
now hold all its property and who
do not care cent who the stockholders
elect to be the president of their empty
corporation. Nevertheless the judge
gives advice to the directors and a warn
ing. Though he will not give them the
leave they ask, because it is none of his
concern, he tells them they will he very
to I,,S n1.
other important business to be done at
the stockholders meeting, as he gravely
doubts whether it will he lawful, and
will be sure further to complicate exist
ing matters.
In other words the judge holds, as a
man of sense, that since the officers of
the railroad company have nothing at
all over which to exercise authority, and
cannot do anything to help their COM
pany, it is unwise to seek to
change them when there is any doubt at
ali as to tine authority to do so. 1t is at.
vice the judge ndDl not have rendered.
1t was no more his duty to advise this
company than to give them leave to post.
pone their election. But having a lot of
'tarnal FOOLS as the Yankees say,
before him, the temptation was irresist.
ibe to try to drivea little plain sense into
them. The astonishing part of this
whole movement to oust Mr.. Gowen has
been its intense stupidity. 1t was such
AZ objectless effort, where he was Sc
firmly lodge. in the receivership, which
is TIE citadel II power: and where il
did not require any very great intelli
ge'"e to discern that Judge McKen-
NAH, in whom Only lay the power
to dispasses Mr. Gowen, was not al
all likely to exercise it. He knows
Mr.. Gnwen and respects him. He j:
aware of his faults and his virtues, hi:
great strength and his great weakness
and he knows that the exuberance OF
his self-confidence, hOpefulness and
company under his management to the
abyss of ruin, are the very qualities that
will he most valuable in eXtricating it
A respondent man has no business row
in charge of the Readings fortunes
whatever his wisdom. These wretchet
McCalmon!s must be senile, with thei
immense interest in Reading stock, t
stir upt.iis worse than useless disturbanc
at present. Now that they have hea:'
wha: the Judge has to say, possibly the
will have sense enough to cease from
troubling; as he holds their property b.
the throat, they may be wise enough t
heed his advice now that they hav
heard it.