The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1884-03-27
SETTLED At LAST.
The Case of tho Chicago & Alton Va
j. Tilden and l. II. Meyer.
DeCi1ion by Which the two TrHs.
tees get $50. 95s-- History Of
the Matter and Services
of Defendants.

CHICAGO, March a1-The suit of the Chi.
cago & Alton Railroad company against
Samuel J. Tildea, L1nis H. Meyer, and
Adrian Iselin, has been finally disposed of by
a deere entered before Judge Drummond.
The defendants arc the survivors of six per-
sons who were appointed trustees in January,
1850, under an agreement made between GER
tain bondhollors aad creditors If the Chicago
& Mississippi railroad and the Chicago &
Alton. Sept a., 1862, Tilden and Meyer
bought the railroad AMI other property then
belonging to the ST. Louis, Alton & Chicago
Railroad company and formerly to the Chi
cago & Mississippi Railroad company The
1st of November following they conveyed,
under certain conditions, all this property tO
the Chicago & Alton Railroad company, a
corporation organized for the purpose. The
latter was to issue certain bonds Of different
sorts to pay for the purchase, the trustees
being required to fix an amount OF bonds and
stocks sufficient to pay all the debts included
in the agreement. The bonds aud stocks
were issued and given to the creditors assent
ing to the agreement.
The case was referred, some time ago, to
james Ernott Of New York, whose report
and findings We're to he conclusive His re.
port. ON winch the final decree is based, finds
that the trustee, more particularly Tilien
and Meyer, in the 'ilss'h1rgs of their duties
have rendered valuable services to which
| they are entitled to compensation That the
5lst Of July, 1871, they set apart a certain
amount Of first moitgnge bonds for the
payment of their services, Tilden taking
twenty and Meyer fifteen bonds of Sl.0ll
~,
each Of the remaining trustees. Til
| den and Meyer were also trustees of the pre-
| ferre1 first mortgage sinking fund bonds, a
| we'll as Of the first mortgage and the incom
| bonds of the Chicago q Alton, and Tol
| Under obligations t. couute-sign and certify
! each. bond, which they did. They also per
| formed other duties in advertising the bond
| for retirement and in retiring them. At Tho
| close Of this work they had balance o
S27 900 and SOS, 900 il securities, which the,
held on account OF fees for their services
Some seven or ei yh5 years ago the company
! filed the present bill for accounting.
The referee holds that the two trustee
were barred on account of lapse of time from
claiming Compensation for services covered
| by the bonds assi1ne TO them They were
| however, entitled to ei,0S9 each for counter
signing and certifying $4,0S90l0 of bonds
| and $500 year each from 1865 TO 1873 in
elusive Us trustees of the sinking fund mort
! gage, with interest on their claims from Jan
uary, 1876, together with q counsel fee o
S., 900 and 81 POO for clerk hire, making
grand total of S3G,952 On this repor
a decree was entered finding that Their,
is due Tilden and Meyer $50, So for all thei
services under tie agreements of Jan. l(
| 1860, and Nov. /, 1862, and that no othe
amount is due them. They are to retain tn
s27. SO now in their hands in part payment
and the Chicago & Alton road is to pay ther
the remainder within ten days. The sever
teen first mortgage bonds for $l,OO