New-York tribune., 1884-01-04
NEw-YoRK AND NEW-ENGLAYD DEBTS.
RECEIVER CLARK EXPLAINS THE REASONS FOR HIS
COURSE,


Charles p. Clark, the newly appointed recciv-
or OF the New-York and New England Railroad arrived
in this city from Boston yesterday In answer to ques-
ons from TRIBUNE reporter in reference to the future
OF the road, Mr.. Clark saidi
"Thcre VIII be meeting Of the full Board OF Directors
next Monday at which shall submit report stating the
situation as It appeared the afternoon Of Decem-
Der 81 and which led me- after conference with one or
two Others exercise the power conferred upon me to
call an immediate meeting OF board The whole sub.
cct Will be submitted the board. Ny expectation Is
that the board will agree that the stockholders shall have
full knowledge and opportunity 70 pay the debts mcud
ing the interest the mortgages, AT any time during tie
rlH period provided 10y the mortgage with the distinct
understanding that II they a 80 70 do, they VIII eV"'ti-
ally lose their rights In tho property and ii when
the time has expired In which the stockholders
have right 10 pay these debts, under any plan
they may adopt the prior security holders should
have their prompt remedy as provided by their mort
CAGES II secured mortgage Ooudholder5 neglect TO
cure the default the first mortgage bonds the first
mortgage bondholiers should IN have the property
on the very day and hour they entitled to II by the
terms OF their mortgages; and in my opinion the board Of
directors Win act In this spirit and that justice IS
done or each interes; IN It's turn Meanwhile being re-
sponsDc for the operating OF the road, should try to
make Il net AL II Is capable OF netting Tor the benefit oi
whom u ma concern ~, .,o ,,c. .,,,, ,oo ~, ~.
New York director, were Al the Hartford meeting
Every member q! the board wherever residing was
p my mind tO cali the board together In telfgr1phng
10 the Ncy-NcFk directors called attention TO the 43O
and 8 30 trains OF New York. Hartford Is htH
way between the two cities and easily reached
from city the other hy trains leaving each city
AZ the same moment ono u The NewI directors did,
IN fact -.ld repra,cu' triye VINO W., invited tg and
heard every word % The IrOccrdu ufhou h. OF course,
he could 10; believe that every honest and sub
stat al Interest protected and that II viii be pro-
tcced H. It's Il certainly Will Dc 50 can insure
IT,"
Mr Clark was recently elected president ~ the COM
pauy. lie been long identified with the NpwNork,
NcwIIavcu and Hartford Ruir ed Company aud 20 have
iu-rc-f- IulEc Co TIE c-tVn+.Htut OF any rNd. tu'
prominent director %! The company said yesterday That
the vrr-hp stop In 'r right dire non, hrln-c
otherwise the property mi gt BECOME the pry ui railroad
vulturr, Jdy Gouu. who recently resign s director
Of th" company, said that bee hId uyri settlement oI
the company. +, AFFAIRS for several months
Bo-4oV Jan. 3-Bc,ciyer CluIk, oi the Ncw-NurS and
New -oud Railroad mas appointed the following oai.
Gers: James ". Perkins, Assistant Receiver; william
Caleb Lorng Solicitor; =. NJ FELTON, ir. General super
mtcndcnt; g. H. Williams, General Freight agent; A. C..
Kendall, General Passenger Agent; George H. Fppen,
Cashier; H. VI. Kochcr-perger. Auditor
IHe Transcript says II has been ascertaled that be
fore the appointment Of receiver, the Boston and Albany