, 1881-12-06
How Vanderbilt IN Alleged to 1Invc
Sco0ped the Rochester d Stnfc Line.
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NocuEs7IM, N. T.. Doo. b.-Aa aetaon has hcen
co,umooccd In tho Suprciuo Court OF tho stAte
ef Now York, trlablt III Monroe County, by
lsuao 8. Waterman. ot PhiadeIphIa. and Henry
H. Taylor, OF Nochcztor, N. r.. contractors aud
builders OF the dorchester l. Btuto Line 1snilway
Company, against William II. Vanderbilt, tts
1orluer manager, for tho recovery OF $1!Do,1oo
damages alleged to havo been Sustained by ron
son Of hreuch OF cantract on tho part OF tho
defendant. Tho plaintiffs charge that IN tue
yoass lB77 and 1878 they were the owncra Of
large umount OF the ttsht-mortgago bonds Of tho
tochesrtr 4 Stato Lnu Railroad Company, be-
luz $l,6O, ,00O, with other largo and valid claims
upon tie company for other bonds. Tiny also
owned majority OF tho capital stock Ut
tho company. Tho road WIS thcn III an un-
finished condition; tho contractors had PLUGGED
)urge amounts OF bonds as oollaterals for loans
to carry oa tho work, and still required funds
With which to complete It. Pr. Yasds!biit, II Is
sutd, made I'M aRrtelnont VIII tholn " wblah
they woto to tTat1sfer TO- n,n re st9ok owmsu "
slouk ut tho company. aud thu. eaaura tn nun
tho management of Tho road: also 10 transfer 70
Alu, abuuE $:4u,UDO uf the itst-tuoEtKHxo hlitds
Ur iho outu,iauY ut ii conta on the dollar; and to
surrct,ttur md t!tsaharRt A their claims hk.tat
ns os ana
lss Indebtedness: 10 ln return agreeing to ". ".
sumo eon.so Of te road nuke y Rart Gf xta ths
cak IL prcotne dGa On tho outstanding bonds, and
ulake 1t paying road aiia by % hnlux Tatse tno
tho,r obligations and assure 10 thofu large prutts
| upon tnpir Investments.
Has sstsssts,,f ia n,S ststSed IT. Vanderbilt
rs sHSssS,!s y ;!SS aeysSd ,s;ssYP;';; SssPif;
s9rss d, a. hi, .pfs soa had sSsss Sssa
ourr'ed OUT there ts 20 donns that th9 rcsutt ,lt
| nnvo hta n Il valuable property auu paying &n-
| yostmunt 10 IL bontlh1Iuera aud atockho!4cre
p!ans wptS a. hs np. r. y S"nes ,ss el
which wore Sy.tD0,0tD. aud Kuoa fa!tt ou tho pa.1
OF blr. Vanderbilt rat Vital 70 thoir interest
stos. q .no 4nts g F1ylnF soatS 9f IL
elected Hoard ux Directors, With Dir, WerCca
tur ~ rrosLdunt. :rwo hundred Of tns plaintiffs
| bOuda, thun worth In tho market " cents IN tn
dollar xsre el'vors to hl% s,oS,n Sn wniSh 4S S'
our0 tho completion Of thu soatl It la III
loKod that, in violation Y tue axreolneat aDos' I
rvterrsd to MF yaaes6iis y @ ttaat
WAS OF vital Importance to the plaintiffs MI
thpr creditors, thrcw taeu, lnto tho knarkct. ut'
with theln endeav0roa to boar tho luMEket An
| naarly xluu,UUJ ut tho gxpuuse Ut thu plnlutI0l
Tlo road wG4 run. Il Is .aid, u <he tn!srest q 9
Nsw IoEx cSnas ,ses H. IT,, ae maaaafa ~ t
| boudH was lcfaultea, tho Foad VIVA worn our. ~
| ip November, 1870, thu defendant, repud!ate
| all or his cuntIaGt that t~matuod ltubfuketl. n
| Tuud stlu tor less than 10 cunts III the dollar g
| III bonded Indebtedness, and tho plAlntllfa sui
ferpd accordingly tpr thv!r faitA in the Gontrao
Wr. Vanderbilt has NOT yek served hle answer.
inv bV 9ddoI that tie City oF lkoctester VII
authorized 10 and did lssNe In a!a Ut tha euN
stTuaion Vi tns Apohestes Il State Lae Hal