Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-12-21
soRrvkE.s BUDGET
wnhsse 10 cssrs-rhs ssszssrs rr'rsrsrs
appsscsnss fss sscrssrr
sysssef-


fempnera ssr- App1scsfsse fnf ne~r*<0
s,sss.f-
feswrr-pups~sr. ~ "a. Rsnss,neBc Dszpas<a-I
SaRrafx. Va. pecefuiser 30. 1854
The southern Telegraph ssif came up 10
TIE nSfed stx,es Gsurf tins morning. and
nttrarird = larre croEG a spectstars.
gadrr< HUGHES sud Bond presided
Iseperni Nahane. ose Of the eurDpluinnnis.
Is reprreenled lss fsengrni Y. Y. Bafier zne
Mr.. Jotn :. Kise. and the txrrcnviise
Land aBd Lumber Company tbc 0sber
commitment. /, REPRESENTED by MessrS. Tun-
siAH a Thorn. The telegraph COMPANY
> represented by Generzi fsrzoiey r Jet1-
son and Mcssrs. SttTp & Hughes. General
Malone flied his biz, an a5str7ci 81 WHICH
Is as fellows:
The bflI Of e0uraaTnsf r. fled against The
Southern Telegraph Company. the WISH
gnr1on Improvement Company. the Bank
en- and Merchants Telegraph COMPANY.
and the Fsrmcrs' Loan and Truss Coen-
pauv. II sets forth lliai the SCHUBERT Jele-
rrUTsb COMPANY was incorporated N TIC
fal 81 Iss3 r. blliid iiue al telegraph
frum Washington % New ORLEANS. rs
carifai stock was s5.010,0oo, IN shares 81
500 egch. ia order 10 raise funds neees-
sary r. butid and equip the bne. ilrsi mort
Elrf v - ~ ftNiisHH ~ 80 tatf sH-Atf- ~
as.rrsa1fing g. 80. 200. and toe Farfners'
Loan ana I'rus1 Compsnr 81 New YORK
was drSignflied a. trustee. About TIE -aWe
time TIE Washington Improvement; Cnin-
r-urfv WIS urranized with substantially thf
-nuDe iDr0Tg Grafton a. the ~oulbern Irif-
erarh Comvanv. and VITA . capital STOCK
81 s1.1G0.U00. and thls 90 npanF vas -
l1iild the line. The telegraph rpmnauy -
A. a.. mn ~ tHwWMs
and u 500 mile 10 stock. b t1e
Z rus Of ihe contract the trustee. the
Ferine-s' Laan and Trust Oompluy.
WE a. bold The S1.53p.gDJ q bonds issued
aud is-ue tn samr upon the production 81
certificate, frcm tie proper Officers oi DE
me telegraph coiupauv that a section or
1s,efinue ~ toe line had been completed.
The Voik has progressed under bal cog
frprt. lfeuern! Malone purchased sons
40 .00N worth Of bonds he claims i9ui
under The contract the cemDaur should
have uaid ont onir Sl.3G1. 091 10 bonds
and - IN aoA In stock Scr The lrnoer
- milfs " telegraph line construct cd
hui IN point al lact The eufire i-sUr
q first mortgage hoDus hus been oiifAibrd
~ fhe southern Telegraph Company from
the FafTuers' LOan and Ir7sst 9mpHBF.
trustee. ~ in -ollusiDu win tf~ trustee;
thai the income o. The Telegraph COMPANY
has been urapuruTriEted and GiViaea
uniii the conspsrr j. 10 Gciauli ini INTEREST
cue TIE hcudheiders. and b insolvent. ctr.
The r0riuiaiuaui also charges that in the
eariv purr NJ 1855. A. v DimocS- who We
urrelv interested IN the B;.nkers and Mer-
chauig Telegraph Company. cot COZ if9i
rs Ihe Wa.hingtBn Imp OYemcni lompanS.
thai tire stock 81 the SOUTHERN I-ie-
rruh toT1uanv paid q me raie ni
q 500 Der 1uiip tpthe Washington Improve
meni Compgnv uudeT TIE construction
contract Wns divided H. O dividend o. ine
stockholders p-0 rata ~ TIE washington
Ir1r-uremeuf C0nnan1 and br t'l- method
NJ. Dfmoct acquired controlling Interest
in the ~nu'hfrn Telegraph t1mp4uF. and
secured hls Own election n pres dent oi TOE
slld southern TELEGRAPH Company. and
gained uls- session of and withdrew from
us CUSTODY the remainder Of t1e series ni
=. llN p0N Of bonds. which ought NOT O.
have heeu issued. j D. also charC' ttiai A
". Tnmeck failed in hu-inps- % ls-4. an1
soon after bic faii,.rc TIE BarerrS' and
Merchants Telegraph COMPANY failed. and
that among tie assets NJ said COMP ~ are
bonds Of the southern ompauv ag-rcgai-
ing very large amount a hich bonds are
b.id q valid obligations 81 the southern
Telegraph tamuanv. u heroes tnfv are nH
valid obligations, Rat The Identical bond.
frandul utiv obiained by I1TInocs. and
tr lin lvp0theca,el 20. With. ~
far me Banker. and Merchant
telegraph COMPANY. The complainant
insists rhai aI oi said .ond. are
uuH and VOID and should he called In and
rsrcpuea. else irreparahie damlce vii le
= .. AZ. .r.
cluia. who hold bonds i1 The amount oi
20 N.C0b.
Toe other biu j. iu substance The same
"a the shove.
II reply The defence plea. that the conr
tlus no iurisdicilOn-
After speeches ny counsel sr both sides.
Poe Court decided It had jurisdiction. and.
more THAN that ihai II would Grant the IT,
unctinn and appoint o receiver, Judge
Bond delivering tae opmiDn. z hero wss
o sud between " Sc ard Ik0m gs g. how .
ne two liils would be received. Tb1m f.
% ishinc % consOiia1re and Wise o-9ec-iuC. /
u WIS tiuAliF decided ny the Court o. Pc 4
-eiVC 10th hllls and thai q receive De- H. .
Jufrttd 10 both eases.
Nr. VI ise nominated =. G. Ciark. d. y F..
hwcs. and T.. r. Huhard. any iwo o' /
81 BON would please HIM. t- wanted haie- I
auy event
Nr. Tbcu, i1T tae G-eeHuIt Lumber !
C1mT1uv. u l' make BIB. nou nation Non .
..v. ~ ben thf rarmFer i- au1a nted she .
bond WI he fixed 81 100000.
Ih0-t who Eave seen teDarri Butler, .
( lur,> and who hgs uut alye seen the .
rtlCrL He b. exact %. represented .
'-r7u..rt and rather awkward. very ralr- .
l-ijca. reading With tle book close % his +
.r... De er,epks dr.iheriteir. hut No. tiI- .
rtiv. fle i- the Grand centre 1f attraction. .
.ud hs. jusi received % telegram. Every .
,rdv +. watching DE every actioo. and -to .
.rrvd .miled 90 ll- General msd@ tae ulr-- .
ucer-ury Vgl ,l tis uai.
70. p. cooke anl e.. o.. Elliott each gave .
.,0. Uuu b9ud ID iat corporation .u1 -..
.av as receivers li tlt y Ir-ir Beach -.... .
1-d.
'IL5ItL8 MIDLAND HtILEgLU +