New-York tribune., 1884-02-19
NEW-YoRK AND NEW ENGLAND.
ARGUMENT on THE MOTION To DISSOLVE THE RE-
OWNERSHIP.

ARGUMENT on THE MOTION 10 DlSoOL' l. III" W.
OWNERSHIP.
HARTFORD, Feb. 1S.-The adjourned hearing
in the matter of the application FOR dssovng the receiv
ership of the NewYork and NeyEngland road was hea
before Judge shpman to-day. Afdayts of James II.
French of Boston, r. suydam Grant, OF ewfork, ana
John A. Wright of Philadelphia, were read for the peu-
TONER For the receivership, aHdayts were
read from Frederick A. Kingsbury, Of water
bury, Charles p. Clark, the receiver anu
dozen others. counter affidavit by S2i0ne, 10 u
French put in at this point and was ans~ereu %
new AFFIDAVIT from Mr.. Clark. The question here IN us us
puc was the action Of syndicate I9r .nr b ond dge
Shipn suggested that there mgnl as We. a va a. a.
end of the affidavit making, but admtten an oSrTu %
w. D. ship@an Of New-York. who said in opening that
obont the we're reaut accomplish what IL
now known working the road, but many n'n & na
been hanged on sfghter evidence thAn eAS'eu III ''
The counsel for tho petitioners claimed that the process
of DrocuTing q receiver stealthy and unnecessary
and had already damaged the property 10 the extent Vi
100000. ,,. r,,ro sh,nroar
OF counsel said that If given fifteen minutes time on
Wa-st tomorrow he would engage 10 have all OF the
fret mOrsaSt bonds & taken at III per cen'
W. Caleb Loring, representing the company said II ns
instituted scheme to get back its property ana tue
rights OF sand property would be destroyed the Ieee
ership is vacated He rdiculed the talk about con
spiracy and the talk about secrecy was childish pratte
81 con f. Baldwin, for the complainant, clancd INA.
there sufficient grounds for he appohtentd S' rc
4
ations uecOns were such as to cause gra'o %
doubts as 10 result II the appointment had not D
made He spoke Of the special galihesons O 'Pe Ip
receiver his position, and llIsubed MS cause III
cnttlug of the through traffic, which was dohe
AT a loss OF S500,00O last year. The Erie roan II
bound 10 have its fast freight business dOuc over o
England road at half the price 1t worth They tK OF
the Erie p-opOsition to 100000 on account
wait while remaining 100000 IhlS great IGau.
326 miles long had IN the treasury tn DAY the fcce
was apoointed SI53 tits hadlv worth while 10 speak Of
the Erie lease propOsOn II suggested III prlFae
letter and utterly impraencable unoeI 1he onCu
stances. Adjourned Till tomorrow morning.
THE COMPANY's FINANCES.
| BoSroy Feb l3.-Tho statement Of Receiver ClaiK
REGARDING the financial condition Of the New-1Ork ana
New England Railroad shows the gross unfuded deD' Vi
the con,rsny to be 800 Against this the balance
sheet contains statement OF accounts IN the h'te "
assets amounting TO J25 900. From this Is deducted
tbe a,ne of supplies and material hand estimated
amount of worthless accounts doubtful accounts ana tue
reduction I'm value of shares OF capital stoek ron pa
at so TO the market price at 10, leaving the qCS e
OF the company at $Sl03Oc The audltoi e. % ot
fhe fle chargrs 1884 is 81 232 500, Wnlch noe
include the interest tue floating ueot "lVn W IA
| M 81 500 600 and borrowed al per cenl VIZ "'"
| 10000 per annuln.