The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-06
CITY NEWS.
A Receiver Appointed for the Texas
Trunk Railway..-Failure of
Millinery HOuse.-.Passing
Immigrants.
A Negro Baby Deserted by Its Heart
less MOther-..Facts AbOut the
Races.
Police Court NOtes...A BOOt-Black
Shoots Another in the Jaw.
llther Interesting Local Gleaniups.
Other Interesting Local Gleanings.
TEXAS TRUNK TROUBLES.

TEXAS TRUNK TROUBLES.
The Financial Embarrassments of the Com
pany Lead to Attachments, Law Suits,
Meeting of Creditors and the Appoint
ment of a Receiver.
For several days past it has been rumored
that crisis was being reached in the affairs
of the Texas Trunk Railroad Company.
1t has been known that for some
time past the company has been financially
embarrassed, having failed in the great
money centres to negotiate their bonds and
thus liquidate their liabilities. 1t also be-
came known that recently sum of money,
variously estimated by parties to whom the
company was indebted at from $4,000 to
$4,000, had been forwarded from Boston
to settle claims against the corporation, but
it has been pretty reliably learned that
the amount forwarded did not exceed $40,-
600, and that this fund had been placed in
the hands of banking firm OF this city to
be paid out to creditors of the road. 1t is
asserted that the Boston management of
the road proiessed belief that this amount
was sufficient to settle the accounts
against them, but that us soon
as the TACT became known
that funds had arrived the presentation
of claims became so numerous that
those entrusted with the settlement saw
that one-half the Indebtedness could not
be met with the amount on hand
and so no bills were paid, On
Saturday and Sunday attachments
commenced being run on the prop
erty of the road, and on Sunday demand
for the appointment of receiver was being
agitated. Creditors from various directions
begun to arrive Saturday, and in Sunday
mornings HERALD notice appeared calling
meeting of creditors of the road at the
office of A. W. Nowlin, in this city, at
$50 yesterday afternoon. The Texas
Trunk troubles was the topic of converse
ton in railroad circles and on the streets.
As near as could be learned, the company
owed for grading, track-laying, general
construction wsrk and merchandise, from
$4,000 to 100000, principally in Dallas
and Kaufman.
The meeting referred to was held
as called, about .one-half OF the indebted
ness being represented. The question
of the appointment of receiver was dis
cussed and, we are informed, the senti-
ment against pursuing such course was
unanimous in this meeting. II was in
formally determined that if suits were
brought, and the one first disposed of re-
suited in judgment for the creditor, then
all should pool their interests and pro rata
settlements be made--that Is, all should work
together and endeavor to get their money
from the company with as little litigation
as possible, after u test case should have been
made in court. This is substantially
what was done at the meeting, which adj
journed about y. m. to meet mt 10 o'clock
this morning, at the same place.
Representatives of the HERALD interviewed
number of the creditors and other
posted portions. From what could be
gathered, it appears that the company's
troubles are principally attributable to dis
agreements in the ranks Of the manage
ment. One Of the heaviest creditors, who
appears to be well informed characterized
1t as the Graves and Shortwell element
against the Henderson element. He assert
ed that Mr. NJ. Henderson some time ago
perfected negotiations with an English cap
italist, named Dunklin, representing q finan-
eal syndicate, for the sale of $4,000 OOC
worth of the company's bonds, at gilt.
edge figure, and that the money on them
was about to be paid with which
the Texas Trunk debts would be
settled and the construction of the road
toward Sabine Pass pushed rapidly forward
This creditor asserts that the success met
with by Mr.. Henderson was making him
too prominent and popular and that Graves
and Shortwell at the last moment Of the
negotiations, on some technical point,
"stalledn Henderson's efforts and the bond
negotiations fell through. He asserts that
1t was the Grayes-Shortwell scheme to
get the company as heavily involved
as possible, have attachments run, judg.
ments rendered, a receiver appointed, the
road ordered sold, and thentheir side to bid
II In and freeze the Henderson element out
All day yesterday papers were being flled
in the various courts In the city
for attachments and suits against the
Texas Trunk, and the clerk,
were pinned down 10 their chairs, so 10
speak, copying and recording the docu'
ments. Two important suits were filed In
the District Court by parties who are .vir.
tually the construction company organized
last summer, the principal members being
Messrs. Adams 4 Leonard the Dallas
bankers, and Captain ]. n. Britton
well-known and heavy railroad CON
tractor. One Of these suits was for damages
alleged TO have been sustained TO the
amount Of $4,000 for alleged breach Of
contract entered into ON the 10Th OF July
1881, for grading the Texas Trunk road