The Livingston enterprise. [volume] (Livingston, Mont.) 1883-1914, 1885-12-05

muneration. Without expressing any
opinion as to the wisdom of this action,
or whether it was for the true interest of
the creditors and subscribers, pass to
the fact that the property while in the
care Of the lessee, c. I. Hobart (who is
also general manager of the property un-
der the receiver IN possesson) was seli-
ously mismanaged; universal complaints
were made from those who visited the
park; the property was not maintained in
good order, and was improperly used to
such an extent that the receiver in pos
session brought charges against his mana
ger, c. T. Hobart, and petitioned the
Wyoming court for his dismissal, and for
an order compelling him to turn over all
the property of the company on April 18th,
1886, at the expiration of his lease The
manager has been ordered by the Wyo-
ming court to show cause ton Eecember
23d next) why he should not be dismiss
ed. He has twice disobeyed the orders of
the court in not appearing, which, togeth-
cr with the fact that the receiver IN poss-
esslon and a majority of the subscribers
and creditors have petitioned for his re-
moval leads to the belief that it will be
brought about. On that date the court
should be petitioned to appoint another
general manager, and you will readily sec
the value of showing the court that con-
certed action is being taken by all parties
In interest. l hope to arrange for the APP
pointment of thoroughly capable man for
that position, who will not only be able to
cope with the existing difficulties, but
who will bring financial aid to open the
Park next season and provide the neccssa-
ry new buildings. 1t is now two years
since the receiver of the Wyoming court,
Mr.. Hulme, took possession of the proper
ty, and during that period nothing has
been done by either the general manager
or the receiver to bring about a settle
ment of the outstanding Indebtedness of
the company. On the contrary, addition
al burdens have been added to the prop
erty.
''It is abundantly clear from the re-
ports OF two independent experts that the
past season in the Park has been quite
successful financially. AS nearly as can
be estimated (as the general manager re-
fuses to give access to his books the bust
ness has resulted in net gain of not less
than $4,000 from the hotel and stations.
and about $4,000 from the transportation
of tourists through the Park. a source of
income which rightfully belongs to this
company under contract with the U. S.
government, but which has for the past
season been conducted by others under
contract made by the lessee. The total
Indebtedness of the company, including
subscription, is $500, 800, exclusive of a
claim Of G.. r. Hobart for services. of $16,-
900 which should he contested. The re-
ceiver in possession has also issued de-
bentures to the extent of $4,000, pr1nci-
pally to these gentlemen who advanced
the funds which put hlm in possession.
This last season the property earned
sufficient to pay five per cent. upon all of
the Indebtedness without reference to the
earnings from transportation. This sum
together with a share of the transportation
profits, has gone to the lessee and general
manager, Hobart, and those temporarily
associated with him."
Mr.. Hatch then details the facts that a
new syndicate is trying to obtain extern
sive leases in the Park and urges that the
issuance of such leases and the erection Of
hotels upon them will destroy the value of
the original Improvement company's prop
erty. He therefore urges all creditors and
subscribers of the company to join with
him in cooperative movement to pre-
vent the issuance of these leases in order
that the property may be protected and
placed upon basis to pay all outstanding
debts-a consummation to which Mr..
Hatch affects to look forward very hope
fully and as likely to occur at an early
date With 100000 worth of claims
against the old company in his hands Mr..
Hatch could indeed oppose a strong force
against the granting of privileges that
would practically destroy the value of the
existing property. But, nevertheless, we
have no hope of the Park Improvement
Company ever doing anything toward pay
ing its debts and the dog the -manger
policy will be of no financial avail to local
creditors ofsRufus Hatch's big Park COM
pany. We may say in conclusion that
these circulars appear to have been sent
out from Billings, the residence of Geo. B.
Hume, present receiver of the company.
Shooting Bee.
Chronicle: Word reaches us from Three
Forks of shooting 'scrape,' just across
the river in Jefferson county, between two