Morning journal and courier., 1884-06-30
THE PACIFIC COAST.
California.

The Central Pacific RnIlway-An Appli-
 cation to Place 1t With a Receiver.
 SAN FRANCISCO, June 29.-A statement has been made in 8 city paper that Mrs. Colton had applied to the court for g receiver of the Central Pacific railway. The statement is premature and somewhat incorrect. The document will be filed in Judge Temples court in Santa Rosa next Tuesday, when Mrs. Colton will make application for receiver for the stocks and bonds in the custody of the Central Pacific. The grounds set forth are Mrs. Colton's belief that the railroad cor poration is on the verge of bankruptcy; that it has been brought there by the reckless conduct of the defendant; that a movement is on foot to sell out all the stocks and bonds Involved in the litigation and that already $3, 800, GOO of Southern Pacific sinking fund bonds have been forwarded to New York consigned to c. P. Huntington for the pur- poses of negotiation. The graveness of the charges sworn to by Mrs. Colton lies in this last allegation, and although it is possible that the depleted sinking fund has been filled with other bonds of the same facs' value, the fact would remain that the only negotiable securities had been removed and that their place had been supplied by something comparatively worthless, 8 condition of affairs that would leave the most sacred fund of the corporation in de- cidedly risky condition. The history of the application is rather peculiar and is as fol- lows: For some time, the story goes, Hunt ington has been extremely hard pressed in New York. In his strait he has called ur- gently upon the San Francisco office and a drain has been the consequence, which has driven Charles Crocker al- most to his wits end and made him any thing but merry millionaire. The heaviest demand of all came at the end of last week. On Saturday Greer, the private secretary oR Charles Crocker, was instructed to telegraph to Huntington that $3, 800, 900 in Southern Pacific bonds would be forwarded to him that day and sign the dispatch Crocker. This came to the hearing of the plaintiff and her attorney in the Colton suit, and they, know ing that the only bonds left to the compady were those which had been placed in the sinking fund, at once saw that the company must be passing through crisis. Investiga- tons were set on foot. Other damaging facts set forth in the affidavit were found, and see ing the necessity of protecting themselves against the danger of securing verdict that would be worthless through default of execution, the application was drawn up It was finished Friday and plaintiffs sisited Judge Temple in his chamber and pre- sented it. The judge was not at all surprised at the object of the visit and made ob- lection to the proposition that it should be served on the defendants on Tuesday next. When the affidavit is filed on Tuesday it prob- ably will be met by a counter affidavit from the defendants that they are perfectly sol vent, etc Unless something more than this bare assertion is made it will not be con- l sidered satisfactory by the plaintiff and an order will be prayed for regulating an exam ination of the hooks.