The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-01-02
Railway Matters.
A ciIANoE Oy VASE.

NuAsNA W Hs0hs
CHEYENNE, w. T., jan. The Union
Pacific railway company, falling IN a CON
tract with Laramie county TO construct 4
road moth from Cheyenne 10 the Black
! Hilr tlr which the company was 10 get
S40O. .UuJ In aid of the scheme, with twenty
month. 10 begin work, the county ysster-
day by uction of its board abrogAted the
contract, and $500, 600 OF bonds were placed
in the hands ol ths Cheyenne, Black Hilis
& Montana company, which will commence
work at once.
TIE NEW YORK AND sEw ENGLAND.
BosToH Jan L. The Traveller says
President Clark Yesterday afternoon sent
out notice OF dorectors' meeting at Hart.
ford. Last night seven directors attended.
IL was learned that the papers necessary
Tor application TO the United States circuit
court Tor a temporary receiver had been
TO Hartford. Clark aud the other gentle
men favorable to rsceivership agreed
that the best interests OF the road demand.
ed that IL be Immediately placed in the
hands OF = receiver; that the company by
allowing its coupons on first mortgage
bonds to be used on all collateral Tor money
advanced to pay them had virtually de-
faulted IT'S Interest; that an attachment by
old creditors was liable To be placed on the
road or its equipment Mt any point and
thereby hamper its operations.
Two only of the seven directors
present opposed The acti'n. TEese
two asserted that the whole sfisir had the
appearance of the spriDginE 81 the trap;
that more time should ne gwen for the con-
deration OF so important matter, and
iull BOARD o. directors should have the op-
por,unity to vote on the question. IL was
finally decided, five to two, to apply for q
receiver. At midniYht the board OF direct
ors entered Judge Shipman's residence,
Of the United States circuit court, who
opened the court and after hearing the ar
gument, granted the petition OF Clark and
appointed = receiver. Soon. after the direct-
ers returned to Boston application was
made TO Judge Nelson, of the United States
court for this district, for decree confirm
atory OF that issued by Judge Shipman.
He refused to grant II without full hcaf-
ing, and set O'Clock this afternoon
for the public hearing. Clark says the
nesting at Hartford was duly called In &C.
cordanoe with the power vested on BIN and
every thing was perfectly regular. Hs says
the actual Indebtedness is something over
81, $50 600 and that the assets given In the
annual reports OF tho dir 'rs have
dwindlsd upon close sxsmin-
alton and = large ant OF
floating debt Is now pressing r. 'sttlem IN II.
The meeting of direoA rs IL, for next
Monday, when IL is very poss.Jie vote
calling a special stockholders meeting Will
be passed. CLARK has resigned the presi-
dsncy oi the company
THE OREGON AND TgASscoSTIsENrAL'
New YoRE, Jan. 1.-The report OF tho sub
ommittse appointed to Investigate the
condition Of the Oregon & Transcontinental
company, was presented to the executive
committee at midnight last night. The
committee reports that the assets OF the
company as shown by the books and from
tho certificates Of parties holding securities
as collaterals ON losne as well as tae actual
count of such securities asare in possession
of the company are - follows Oregon
Railroad and Navigation company l62Ozi
shares; Northern Pacific, preferred. l53; 100
Northern Pacific, cownep, l4I 6ji: WIS
nsn Central stocks, Is ia Milwaukee
Lake Winnebago, preferred, 2,"o Mil
waukee & Lake Winnebsgo, common,
9 260; Oregon & California; stock, preferred,
l50; Oregon d. California, common, f20
Oregon Iron and Steel company, 1,5o0
Oregon & California second mortgage
bonds, 100000, lands aud other real req
estate ss per ledger, 80 oooi
Oregon Improvement company 5li, l2s;
Puget Sound railroad under construction
and not bonded, 4lo,022; Northern racine
railroad company balance OF account, si,
2iO..2o9; cash, $l95 927, and the Liabilities oil
tne company from tho o'S, eoes -
shown to be as follows: Bills payable,
SIC, ,562, 500; credited vouchers, sS96, 1885,
Oregon Railway IL Navigation company,
SIS, ,s95. The committee are informed that
the bonds yet to be received from the
branch lines will moet the requirements
for construction. The committee has
deemed it proper to state the assets at their
face or share value, not considering II
within their province or desirable TO aihx
the market values which are constantly
liable to fluctuation. In closing the report,
the committee express their appreciation
of the readiness on the part Of the officers
and employees of the company to facilitate
as m uch as lay in their power the task as
III ~ N al IN Ina com mitte0.