The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1885-05-21
toNNoTToN PROSPECTS.
Tho Judicioua Manner In which Receiver
Briggs Managed tht Road,

Tho Judicioua Manner In which Receiver
Briggs Managed tht Hond.
Ar,cent issue OF the Cleveland p ain
Dealer contains the following statement
concerning the receiver ihip OF the Con.
notion:
The rlceivt rshlp Of the Connotton
Valley Railway, now about TO close, OK
hibits some very peculiar features In
comparison with the general repute OF
similar processes In connection with
railway property In particular, The
receivership II generally regarded by
The stockholders ~ very bitter medicine
for the nnancial Ills with which the
property may be afflicted aud the rcceiy'
or a creature OF the court, au aut0Cr,t
from whom the investor may expect no
consolation or information concerning
the property.
When the Connotton Valley road was
committed 10 the hands OF Il receiver,
there was the usual amount OF adverse
criticism regarding the movement by u
number OF those VINO had Invested In It's
securities, and after the net was accom-
pilshed, they folded their trms and
awaited with brcUmlng resignation The
expected avalanche Of additional In
debted ness aud the consequent reck
OF their properly and interests. On the
contrary, In the present instance. al.
though the receiver was not required 10
report other than TO the court. The bond
pnd stockholders have bben kept con
tlnually adyised Of the condition Of the
business OF the line, the expenses OF
oper Ito and lintenance, and in' fact
every detail In connection with the Te.
peiver's trust has been periodically for.
warded for the information OF those who
had investments In the corporation.
A pamphlet recently Issued concern.
Ing the afiirs OF the line, show the
pleasantest aud most satisfactory rela-
tions between the security holders and
the receiver, which publication has
largely been circulated for the inf0rma-
tlon OF all interested, II Ia evident from
the tone OF the article that the foreclos.
ure proceedings and the receivers dut ties
have been performed with d view TO the
strlcteat economy, and II IN believed
that the reorganization plan Ia the 1rst
that has ever been carried 10 n success.
ful and harmon l0us conclusion, which IN
remarkable from the fact that the So
ourity holders number over one thous.
nnd-tbe usual accompaniment Of fore
closure proceedings being bitter quar-.
rels, disagreement and consequent OK.
pensiye litigation.
The Connotton Valley railway under
the receiver hue continued TO advance In
prosperity, the condition OF the property
has been maintained nj ita former stand.
ard, and the local traffic Of the line not
withstending. tho, general depression,
has continued 70 show n healthy growth.
The net earnings OF the ilfst three
months Of the present year ehow mn In /.
crease OF % per cent, over the apprepate
net earnings OF the corresponding three
months Of three previous years collec.
lively.
The net earnings Of the year 1884
were quite satisfactory, notwithstand
Ing the coal strike, which greatly Do
pleted the earnings for ak mouths. A
the conclusion Of tbo year, after payinl
oil operating expenses, floating deb
and land damage claims, u very hand
some cash balance was In the treasury
The certificates issued cover aolel
"capital account Items 10 DO paid unde
contracts existing with tile compan
prior 10 foreclosure proceodings, IN
total amount outstanding being bu
s73,000.
The suburban business In the yicinit
Of Cleveland y 0 prosperous growinI