New-York tribune., 1884-02-19
AN ATTACK ON RECEIVER GREEN.

CREDITORS OF THE NORTH RIVER COMPANY ASK
FOR A NEW OR An ASSOCIATE RECEIVER.
An order has been granted by Justice Van
Brut In the Supreme Court directing Charles f. Woer-
ishoer as plaintiff action against the North River
construction company aud Ashbe Green as It's receiver
10 show cause why the receiver should not be
removed and another receiver appointed, or why
an associate receiver should not be joined 70 the
present one application for the order was made by
the Attorney General at the request Of Martin A. Knapp
attorney Tor C. Ryan, Charles Peterson and James r.
Young creditors of the North River Construction Com
many These creditors who contractors IN the build
ing of the NewYork, West Shore and Buffalo Railroad
sleee that their liens upon the construction company
paramount those OF others They declare that Green's
relations with the defendant company and the West
Shore line are hardly to warrant the expectation
that he will be vgan in subscribing the interests OF
the creditors as another receiver might be- They further
declare that Mr. Green not appointed according to
the law requiring proper notice to be served upon the
ttorDey-Ceneral The amounts represented by their
claims are 5000 000 The creditors state that MI
Green since in charge has sold about S4OO
worth OF telegraph stock and used the proceeds 10 release
certain mortgage bonds belonging TO the construction
company which pledged by II for loans ana that ne
has also paid out large sums To iaborrs ana ohers her
receiver not made satisfactory ATTEMPT % preserve
apTOper OF the construction company up On the West
Shore road the railroad company has its road for
its purposes and that has applied It's revenues TO-
ward paying its own expenses in which is far in
The cetoI that the condition Of the affairs Of
the construction company and OF the West shore ROAD IS
growing constantly and that plan has yet Oeen
presented for their eItctOD. They assert therefore,
that OF the creditors will be subseFved and
speedier distribution the of the construction
company will be arrived at through the means sought
he cclnplainats also object 20 the financial plan
Gently sed for the relief u the necessities Of the West
Shore Company, under whlon, 1t is alleged, the con
strlIction !, company will be required 10 surrender
900 second mOrtgs income bonds now forming
pan Of itS assets for bonds that are practcay only
ihrd lien on the railroad. Tue order is reurnabe on
Saturday next.
Tie friends of the west ShOre company uecEueu yes
feray that the action designed simply TO haraSs the
construction company and lead, II posi-
HE 10 the breaking OF the control OF
me West Shore stock lodged with the construction
COMPANY Ihsy regard This and the Currler proceeding
~ dicsfed iy some interest which wishes 10 Dring ts
stock on the market that West Shore road can be
taken on OF the hands OF the present managers II Is de-
cl4rel that the scheme Will not succeed and that Re
cever ros at the proper time viii be able TO rene all
The charges brought against him. Regarding The nldu-
cal ran the reply made the creditors not con-
cered viii what the assets the construction company
are, provided their claims are paid Ia full.