New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-05-29
MR.. HILL CANNOT WIPE OUT THE CONSTITUTIONS
warKs AyD TALKS IN THE CITY.

o,,,o,oan who has considerable money inves'eu
,a;,road securities said 10 ne yesterday fu' Ou'
IA $50 - ;i 90 tLe holders Of railway secufl-
80. a se,,ns we are not at the end OF our tou"i'
at Wbv "A first mortgage on ROAD usoo =" NV
some standing and chance Of payment. pu' wy
row way under that with their receivers cei'"''
Now they are going to inaagurate system %
fees TO suckers can name you fo"u VIM
recently gene into The hands oil receiver "Io'0
duty it is to look after the exact nights OF "i
in interest 4 minority of the bondhoiderS i'a'~'r
abroad have engaged attorney to look amer 'ue
interests II is to be presumed the American '
holders viii do the same. Instead OF paying 'le'e a.
4ornevs themselves what do these blessed foreigners
do but get the receiver to advise the directors " %
aside fund for reorganization out OF when lneSo q"
toynevs shall be paid That is what the receiver n"S
recommended Now whose attorney will the man DC
who i Maid from snch fund.- That's the oopnndrrh
And wbv should the stockholders pay the attorney OF
the bondholdersl Its only another clever way o.
swindling."
Ch,et Justice Waite while here the past week. inauo
arrangements TO sail for Europe in June
1t is not generally known that the pool system "hcn
il is sought 10 enforce in railroad business mas ioi
been in successful operation In mercantile u"uo w.
f King told the Senate Committee on Interstate
Commerce OF aSSOclauOn VI uloiOh"".''.
among themselves to certain prices on certain es
goods who offered a constant reward OF @lVVV iol wy
discovery OF any mtractOn, ana suoml''oG s"Utn
adavits at regular intervals showing The sales Inad
and prices given This is new phase oil comDihat'on9
and mODOp0Hes.
understand that the appointment OF 'arl oc"ui@ L
as financial agent and attorney OF the foreign pohu-
holders Of the Philadelphia. New-iork ana buna'o
railroad was the result OF recommendations OF henry
VI,lard who is still abroad aud that the retainer was
$4,000 There are between SI,OOO,OOO anu
100000 OF the $Sj,OOO,OOO OF tne ooI.ueu III III
debte5ness held by syndicate whose headquarters are
at Fran fort.
was talking with President Gardner, now receiver
of this road. the other day. when be said to me :
American securities which are bought by foreign in
yestors are generally held in different way from the
custom in this country. Here whoever buys bohd'
ets the bond and the securities become scattered IN
interest and the holders do not act IN unlsOl IHe
great blocks that abroad are all held IN one
INNS name and control As the agent of the syndicate
he also mol Is all the securities he rta owners NAV
be scattered over wide territory, and nave snlal IN.
divdual interests They get not the original Dohd out
certificate of the syndicate that they own bona OF
certain number which is held IN trust by the syhd
cate"
Imet General John COrse the other day for the first
time since he held Altoona the command OF sher-
man, signalling above the heads or the advancing
enemy, Hold the fort. for coming" Gcnerai
Corse is little more rotund OF figure than he was then
but does not otherwise appear older. lie Is as CON-
pactly and soldy built as any man OF his age whom
know His face plainly shows the scars OF Inc wounds
he received while holding the fort at Altoona, with
single brigade, against Hoods whole army.