New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-16
RAILWAY INTERESTS.
THE FIGHT OF THE ELEVATED. ROADS.
CONCLUSION OF THE ARGUMENTS ON THE PETITION
OF THE NEw-YORK COMPANY 70 RECOVER ITS



CONCLUSION OF THE ARGUMENTS ON THE PETITION
OF THE NEw-YoRK COMPANY TO RECOVER ITS
PROPERTY.
lBY TELEGRAPH TO THE TRrBUNE.I
KINGSTON, Sept. 15.--The hearing of the
New-York Elevated Railway suit which begun
before Justice Westbrook yesterday afternoon, was
resumed at half past o'clock this morning All the
counsel present and much interest manifested
in the case.
The argument for the Manhattan Company
opened by Judge Green He argued that, conced-
ing the partnership claimed the counsel for the petit
TONERS, he did not how this court could allow the
withdrawal OF of the pa ners with share Of the
capital AS to the insolvency claimed by the counsel as
the condition of the Manhattan Company, Judge Green,
while concedng the proposition for the purposes OF this
argument said he did not think the would be in
clned to pass that question merely the ai-
davits presented. The question of taxes which are
claimed to be due from his client he referred to at
length He claimed that all the lawful taxes due from
the Manhattan Company had been paid, and with the
fun concurrence of the petitioner
On the question of the termination of the lease by
virtue of violation of its provisions by the essees, the
counsel claimed that this court had power to enter
tain any such act of ccctment the defendant in such
case was entitled to trial by jury He claimed that as
the term of years expressed in the lease has not
expired, and the defendant corporation
still existing with every power unmpaired such
lease was in existence until dissolved by judicial pro-
ceedngs Counsel held that the petitioner not
erly party to this notion the action being practically
to terminate the receivershlp.
Judge Green followed by the Attorney q eneral,
who spoke briefly in behalf of the peoples interests in
the action. He thought the public interests and
safety still demanded that these roads should be
continued under management. He thought that
arrangement should be decided upon between the
New-York and Metropolitan Companies before it would
be sale to dissolve the existing contract.
Mr.. Dorsheimer replied that after the
relief asked for had been granted his client. he mad
a.
by which all the roads would still be operated by one
Mr.. Soren addressed the Court in behalf of the Metro
polilan Company; He opposed the motion on various
which could be granted the alleged Insolvency Of
e in o dng We yhoEn n IS po other ere
points as affecting the interests of his client.
of Mr., Kneeand Manhattan stockholder saying this
was the first time the stockholders of this COMPANY had
been represented in He asked the Judge To hest
tate q long while before granting this petition.
renee made BRIEF address an behalf Of I'm" petit5nrr
after which Judge Comstock took the floor for the clos
Manhattan Company never built any railway aud never
a amy SO r as sa kno Ns s mat and t bs e
his clients property was now in the hands of receivers,
OF the lease, He asked the Court TINT
n client , be END put the poe0n 0 T% %r
form all the duties and obligations imposed upon by
dshonored corporation by the default the
performance OF the duties II nad assumed lie REGARDED
property claimed Is now found in the custody Of this
Court Assuming the correctness OF this proposition he
said that the eashod estate had expired by force OF
its own limitations lie said the lease does not
release his client from single one OF the
obligations imposed upon II by tts char
ter Tnat Unprecedented franchise Granted by the
state implied corresponding responsibilities. The inter
ests of the vast hrOng OF people they were daily carry
ing thr nigh the streets OF New York, must he
fully guarded. He spoke OF the uurguserrablc chRrac
ter Of the lease, citing various authorities this point
He said the corporate die of the lcnscc ended
by Of it's utter INABILITY To perform the services
quired therein The state had therefore, instituted
suit to dissolve the Manhattan corporation, on the
ground OF insolvency. Tue receivers have no Interest
In the property III question He claimed that only
alternatives existed the First
the receiyershp should bc annurd instantly the suit In
equity he dismissed and tAe property possession re
stored 10 the essecs second the posses ion should be
immediately given mp To the NewIork Company. There
is middle ground Every day OF possession withheld
from tue petitioner IL violation OF It's rghr. The
Judge dwct upon the insolvency the rsAces with much
force, characterizlug II horelessy beyond dispute
He referred to the financial obligations OF thr Manhattan
in drta. He stated thai the aggregate deficit would
amount To S25OO,OOO by the close OF the
month and would continue to grow In future.
lie concluded by saying that every OF the leSsecs
covenants WAS broken aud the property should revert 10
the ltHsOrs without delay.
The Court took the briefs and paprrs reserved ita
decision, which II =aid would be given while the matter
as Al r,5li