New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-06
WEST SHORE TRANSFERRED.
THE INJUNCTION SUIT DISCONTINUED.
NEw-YoRK CENTRAL RECEIVES LEASE FROM A
| NEW WEST SHORE ORGANIZATION.


others. before Judge Kennedy in Syracuse, to restrain
the sale and lease OF the New.York West Shore and
Buffalo Railway property to the NewYork Central and
Hudson River Railroad Company discontinued
yesterday. An agreement was entered into Friday be-
tween the plaintiffs and the defendants for the settle
mcn of the matter It is said that the stock Of the New
York Central held by the plaintiffs purchased by
those interested the settlement Tho purchasers at
the recent sale of the West Shore road at Buffalo,
Picrpont Morgan. of Drexei, Morgan Co.; Chauncey
VI. Depew and Ashbcl Greon-inade the full payment
required under the terms of the sale to Referee Cassidy
and obtained deed OF the West shore property. Mean
time articles OF incorporation had been filed with the
Secretary Of State at Albany for the West Shore Rail-
road Company to which the deed of the old west Shore
property transferred At the same time II lease
executed by the now company the NowYork Central
Railroad and the necessary steps taken for the tranfer
OF the property II is olamen by the friends of the
New-York Central that overy legal requirement has
been met in the transfer and that lOophoe is now
left for any possible litigation.
President Depcw. of tine Ncw-Yorh Central, was seen
last evening at his home, and in reply to questions as
to tho settlement said:
The plaintiffs IN the suit against tho NewlOrk Cen
trail Railroad Company gave to a stipulation last
evening discontnung tho suit without costs 10 either
party To-day the purchasers Of the West shore prop
erty at the foreclosure salo-Mcssrs. j. Perpont Nor
gam C. VI. Dcpew and Ashbc Green paid to the referee
who sOuld the property Judge Cas6y Of Eewburg the
purchase money. So, 100000. received IGom him
deed OF the New York. West shore and Bunilo Railway
property ThereupOn new company was organized.
known the West Shore Railroad Company, to which
MeSsr Morgan Dcpcw ana Green transferred the prop
erty they had purchased The now CONF any was capital
lied al $loOOOOOO stock and $50 5000 lOnds 1t
ecutcd a lease the New-York Central Railroad Com
pany Tor 40 years and transferred to the NcwYorl
Ceatral tho whole of It's ca!tal stock. The Now-Nok
Ccntral guaranteed the bonds which the West shore
Company delivered MeSsrs. DreNe, Morgan CO.. ~
the agents and rstcss Of the oondDoders and creditors
aud they have been delivered the proper parties for
distribution Tie receivers have dcred the West
snorc to tue New lor, Central Company md the otdcrs
10 hat effect will probably bo s,ucd tonight The nrs
act OF the NcwYork Central WI De To ply the officers
and elpioye, of the West shore 1000 IN nudbc
who FOR saarr. ni wages Tor about three
months. and the pay-cnr Tor That pose v start
the pay rolls are received from the receivers
This VIII probably D." next 1ucslIy mornias."
Nj. Dcpcw Ras apparently pleased Nth TIC reslit OF
L, da- abor- Shcu asked what bearing tnc srttie
of the West shore Central matters would have on
tic general railroad s!tiatoI replied checry; Tine in
tce.ug and picturesque ol the Speculation by in
function. mission seems real 20 the cr"iuo1s mind
tuat ordinarily become victim 90 Go" wlc OF the metro
polls bat ls tnuspir to tie Initiated is ended. Iic
can no longer freely hope for bu' AMI bear bonau-
zls IN fictitious shore and Contra, it ations but
look FOR his honanlas where c fields are ire,L and
the pa- tircs new The sale and the lease aud the
o both corporations. an event unprecedented In
the nnlurAl history OF railway other companies and
c, In the most empnhtlc terms to tie Tact That the
settlement between thc properties has been just and
equitable both and In the public iEterc-t The daJ
was ted prcsleL, the Ncgylork Central IN June
ast called uIor the other trunk lue PRECEDENT, helcv
Ing that head.tmcnto. transportation difficulties and
ar restoration n rifoaI prosperity woald restore con-
nicnce and crod and bring about good business good
times and general remuncrntvc cmploy yment for labor
rccs o that from the thinss ~crc drifting In less
than year therc would be general bankruptcy, stigma
ti1n business and very serious labor troubles. The
managers the other ucs the questions In broad
und generous spirit The result hu, been that the plans
a-thcn presented been substantially carried ont
and the day that DreNel Morgan 4 CO.. announced
their contract with the NcwNork Central FOR the al sOrp
ton Of tho West Shore down To tins night. has been
time of continued ani healthy sroSth I'm prosperity
The Increase Ia values has bcon over @loou.ppoOoo In
Ia abroad Properties alone. Tho S3OooOooOo OF Idle
money banks and trust companies has found Its
with the restored confidence into the activities ot
old enterprises and tie starting of Fix thou
sand million OF dollars invested In railway capital and
properties cannot suffer without the whole community
being distinctly ale tel 10 cannot prosper without the
whole community sharing In the benefits. II the Trunk
line compact which has just bcen agreed on s carried ont
Ia its letter aud spirit by the AFFILIATED lines IN the west
and ngily adhered to by the trunk lines themselves
will be FOR the next ten years business ami cou-
mercia prosperity IN this country solid aud sound
TO produce create national aud udiy ina Prosperity,
employment for capital and inbor and general content
than have had FOR ycars In whstevcr have done In
these matters have been cordially aud unanimously
Sustained by Mr. Vanderbilt and the New York Central
diIcctors."
Pcrpont Morgan said after his return from Albany.
that ho could add nothing to the statement made ny
President Depew who had been delegated to make the
facts public.
william H. Vanderbilt at home during the
evening He said to friend Just before dinner that the
lease accomplished fact
James u. Laying general manager Of tho West shore
Railroad. said to TRnrNE reporter 'St evening: Tho
order delivering the property OF tho West shore Railroad
u the Now-York Central aud Hudson River Railroad
Company, that made by President Drpew assuming
possession and appointing general manager and that
issued by taking charge for the lessee were all
Green and met at the Grand Central Depot at that
hour went to Judge Russos house where the transfer
was made and then went to the house of Mr. Houston,
tho other receiver whore the transaction was concluded
OF course the deeds. bonds and other document had
Decn prcparedibeorchand The orders are "a follows
OFFICE REcEWRRs
Nsw-YoRK. Dec. ., 1883
GENERAL ORDER.
Tho property heretofore known as the Newl9rh West
shore ana Buffalo Railway having been sold under
foreclosure and conveyed TO new organization known
the West Shore Railroad Company, aud said West
shore Railroad Company having leased its roh1 WIN n
tral and Hudson River Railroad Company. tho property
heretofore in possession Of the receivers Is hereby u9
road Company All officers and agents heretofore
acting for tho receivers Will terminate their service
under the receivers OF this date.
HORACE RUSSELL, lR,ce,vers
THKODORE IIOUsIOS,
THE NEW YORK CENTRAL AND HUDSON RIVER RAIL
ROAD COMPANY, NEw-YoRK, Dec. D, lsso.
GENERAL ORDER.
The Now-York Central and Hudson River Railroad
Company having thls day leased the West shore Rail
road, with all the property connected herewith hereby
assumes possession OF the OF this dnto MI |
j. d. LayGg Ia hereby appointed general manager OF tue
leased road. CHAUNCEI VI. DBfEW, ircsilont
TIE NEw-IORK CENTRAL AND HUDSON RIVER RAID
ROAD, LESSEE WEST SHORE RMLHOAD,
NEw-YoHK. Dec. D, 1855.
GENERAL ORDER no. l.
Having been appointed general manager for the New
York Central and Hudson River Railroad Company |
Vest Railroad, to take effect this date tue
position is hereby assumed. All officers. agents anu
I'M rNLI