The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-18
The Wabash Receixershin.

CHICAGO Dec. 17.-IIate yesterday afternoon the
attorneys in the Wabash railway case were again be-
fore Judge Gresham with printed d1 ats of the order
to be entered and discussion ensned the terms
of the order. Finding the recevership inevitable the
Wabash attorneys apparently concluded to accept the
inevitable, and they offered active opposition By
the order, finally settled, the receivers bond is
fixed at 100 000 and he is appointed to take charge
of all the road in Illinois covered by the thirteen
sectional mortgages and the mortgages of 1867 and
1879 The receiver is to obey the orders of the
here far the property is under Judge Greshams
jurisdiction. and the orders of other courts only
far the property is under the jurisdiction of such
courts he is to pay current expenses taxes, traffic
balances and rents due on leases, and
keep all the rest of the income for
payment of bonded debt interest, as ordered. He
will not, however, take charge until the 1st of JAN
uary. Messrs. Humphreys and Tut are removed
ordered to surrender possession to Judge Cooley and
to file bond account of their doings, in sixty
eighty days. A similar order will be entered in In
dianapolis, and Mr.. Julian 7. Davis, of New York
will make an application either to Judge Jackson or
Judge Welker. of Toledo for a like order to the
Wabash lines in Ohio.
representing number of the Wabash bondholders.
made application to Judge Weker, of the United
States Court this morning for an order placing that
portion of the Wabash system within the State of
Ohio in the hands of Receiver Cooley. Objection was
made by Wager Swayne the part of the present
management. who asked to be heard in opposition.
The court took the matter under advsement
ST. LOUIS Dec. 17.-Thomas E. Tut, one of the
Wabash receivers, had long conference with Messrs
Blodgett and Talmage. In conversation with re-
porter Mr.. Tut said he had nothing to say concern
ing the condition of Wabash affairs. He knew no
of the than the public he had all of his
information from the papers Mr.. Blodgett said that
he, attorney for the receivers. would go before
Judge Treat of the United States District Court here
tomorrow, and notify him formally of Judge
Greshams action. Judge Treat, Mr.. Blodgett
says, has knowledge of the Gresh-
am decision and appointment, only through
the papers After the matter is laid before him
formally, Mr. Blodgett will ask for instructions for
the guidance of the receivers in their future
ments Judge Phillips stated that, while the press
was procaiming the injury done to Gould by the ap.
pontment of the receiver and the splitting up Of
the property the actual harm is done to a lot of
innocent people who are holders Of Wabash seeur-
ties For instance, Sl1 600, 900 of the $16 900 900
of general first mortgage or blanketmortgage bonds
held in England He declares that the division of
the property will prove very detrimental not only to
the Trust Company's mortgage but to individual
stockholders. He bases this statement on the fact
that he has information of reliable character that
Goulds holdings of very trifing amount and
that no material injury is done him by Judge
Grashamss