Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-11-24
RAILROAD MATTERS.
An Injanefien Grahied Against the Lease Of
the West Shore Road.

the West Shore Road.
[By telegraph to the Dispstch.l
SYRACUSE, n. Y, November 3D.
On day evening last Justice George
n. Kennedy, Of the Supreme Court, on
motion of Louis Marshall, granted an
injunction restraining the New York
Central Railroad Company from guar
.nteeing s50,000,000 Of bonds Of the
West Shore road and from perfecting
the lease of the West Shore for four
hundred years. Marshall represents
800 shares Of the capital stock
Of the New York Central rail-
road, much Of which is owned by
Syracuse parties, but a part Of which
is the property Of capitalists in Or
cities. The injunction is the outgrowth
Of the rejection Of Marshall's protest
made before the meeting of directors of
the Central road in Albany on Novem-
Der 4th. At that time he argued that
the leasing Of the West Shore by the
Central was against public policy, and
therefore void /; that the statutes OF the
State forbid the consolidation OF parallel
and competing lines Of railroad; and
that it would entail an addition Of fifty
million to the Central road, and thus
depreciate Central stock.
New YORK, November 23.-Chaun-
cey NJ. Depew, president Of the New
York Central, was seen tonight, and in
answer to question said: 1.-The IN
junction was served on me and all the
other directors to-day. OF the $780,
900. 900 of New York Central stock
only $4,000 is represented by the COM
plainants in this action. The rest OF
the stockholders, at meeting in Alba
nv on the 4th instant, voted in favor
of the lease Of the West Shore.
was informed by appointment operator
in stocks on Sunday that the market
was to be sold short to-day by virtue
Of the meeting held at the Windsor
Hotel. A copy Of the injunction was
shown at the meeting, and it was
known that the papers were not to be
served upon me until P. NJ. to-day.
did not put much faith in the story.
but at 12:45 to-day ! was served.
Judge Kennedy, of Syracuse, is a
good lawyer and an able judge,
and | think he did not know the pur-
pose his order was used for. A
curious anomaly of the situation is that
the West Shore Company out Of its
fifty millions $40, 5O4, 000)hAye assented
to the lease up till tonight. If this
lease shall fail these interests will be
sent back into hopeless insolvency. [
mean the fifty million dollars re-
presented in Drexel, Morgan i
Co. s certificates; and the creditors
Of the West Shore, to whom it owes
SIC. 100000, would nearly all become
bankrupt if the road stopped running.
These persons who bring this suit, if
they prosecute it vigorously, will find
that it will cost the whole amount Of
the stock they hold and which has al
ready deprecated, and the rest
of the stock of the New York
Central has gone down 100000,
for the alleged purposes Of protection !;
so that this Insignificant sum has in
ficted this heavy damage. There is no
injunction against the sale Of the West
Shore, but only against the New York
Central from buying the West Shore.
This does not restrain any person from
buying that road, and does not restrain
Mr.. Vanderbilt from purchasing it
should he so elect