Morning journal and courier., 1884-02-19
New York and New England.

Long List of Acknowledgements
Before Judge shipman.
The adjourned hearing in the matter of the
application for dissolving the receivership of
the New York and New England road occur
red before Judge Shipman yesterday. The
afidsvits of Jonas II. French of Boston, r.
Suydam Grant of New York and John A.
Wright of Philadelphia were read for the
petitioner. For the receivership affidavits
were read from Frederick A. Kingsbury of
Waterbury; Charles P. Clark. the receiver;
James W. Perkins, the secretary; George B.
Phippen, treasurer; 81. E. Bovles, assistant
general solicitor; @. 81. Warner, trustee of the
coupon fund; George H. Williams, general
freight agent; James P. Manning, Thomas
Nickerson, Frank l.. Higginson, of the firm
of Lee, Higginson l. Co, and Charles Fair
by Colonel French was put in at this point
and answered by new affidavit from Mr..
Clark. The question here at dispute was the
action of syndicate for the purchase of the
second mortgage bonds of the New England
road. Judge ShipmRn, presiding, suggested
that there might as well be an end of affidavit
making, but admitted all offered up to that
time.
The arguments were opened by ex Judge
W. D. Shipman, of New York, who said that
he would not say that the proceedings which
brought about the receivership were meant
to accomplish what is now known as wreck
ing the road, but many a man had been
hanged on slighter evidence than existed in
favor of this view The statement that Mr.
Fairchild was the attorney of Mr.. Brassey is
not true in the sense of representing him in
such a suit. He was doubtless his attorney
for the ordinary routine of business.
The New England road actu lily came into
this cOnrt and aSka6 that its nr0n0rfV ht
taken from it and put into a receiy er's hands
There was no other question than that of
his appointment submitted by them. The
road say that Charles Brown has threatened
to begin suit for 500, 600 for personal inju
ries; but that is as Chief Justice Swift said.
a charge easy to make hard to prove, and
harder to disprove. No railroad on earth
was ever put into receivership on such
claims as there now appear to be on lnspec
ton Your honor could not examine them
then General allegations in bill of this
kind asking for special relief amount to
nothing with the court, because they cannot
be proved nor disproved. Mr.. Brassey had
no staining in this court.
Unless trustees refuse to do their duty, q
single bondholder cannot bring his suit
against his company It appeared from the
advertisement of the company in the morn
ing papers of Boston, January 8, that the
company would the next pay the interest due
on their bonds. The statement they made
to your honor, on December 81. was false, or
vas intended to cause your honor to render
decision which would not have been given
if an examination had been made of all
the facts. AS to the floating debt,
it was no more then than it was six months
ago. All the pressing floating debt at this
time which required the advancement of
money was less than 5000, 200. I don't be
lieve any of these gentlemen ever made any
honest effort to protect the company from
annoyances from this floating debt.
Without any difficulty 100000 or $780,
600 could have been obtained if the company
had seen fit to ask for it.
After arguments the hearing was further
adjourned until 10 O'Clock to day.