The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-17
THE WABASH RECElYERSHIP.
Judge Thomas M. Cooley, of Michigan, to
Succeed Messrs. Humphreys and Tut.

CHICAGO, Dec. 16.-Judge Gresham. in
the United States Circuit Court. this afternoon,
appointed Judge Cooley, Of Michigan, to be re-
ceiver of the Wabash railway, in accordance
with his rscsEt decision. The appointment
of Judge Cooley to be receiver to succeed
Solon Humphreys and Thomas E. Tutt,
was determined upon by Judge Gresham
after a short hearing, in which it was disclosed
that the contending interests would be unable
to agree upon aay one person as receiver the sug-
gestions made by each side being rejected by the
other party in interest.
Before appointing a receiver Judge Gresham
was asked by Gen. Wager Swayne, counsel for
the deposed receivers, time for the purpose of
making few suggestions. He proposed that
the purchasing committee be allowed to pay all
the receivers certificates except those not in the
current accounts covered by the mortgage OF
1867 He would he said make a motion for an
order that, upon condition of payment of all
receivers certificates, far as due to secure
the remainder as they mature, and to pay all
Indebtedness not covered by the mortgage of
1867 on all lines east of the Mississippi river.
Attorney Crawford, for the frst-mortgage
bondholders denounced the proposition as an in
genious scheme, sprung at q moment when least
expected. decree, ne said, had been drawn up,
plenty of time between now and the close of
the month to settle their business and turn it
over to the new receiver. That committee pro-
poses TO use 81 800, 600 to pay off an indebted
ness, and claimed that majority OF the stock
holders OF the Chicago division were agreeable.
Judge Gresham stopped the controversy tby
saying that the court had already held that the
present receivers should not be continued in
Office. He expected the new receiver he should
appoint to be of an accommodating disposition,
and one who would take the pronerty and do the
best he could with it. After thinking the
matter over" he said, II don't think anything
could be gained by proonging the matter.
will then appoint Judge Cooley. of Michigan"
Thomas NJ. Cooley is one of the bestknown
jurists OF this country. He was born at Attca,
N. Y, Jan. 6, 1924, and removed to Michigan in
1S45. Some two years later he entered upon the
profession of law, and has attained to the fore
most rank among writer's on legal subjects, as
we'll as member of the higher bench. In 1850
he became professor of law in the University OF
Michigan. He elected Justice Of the Su-
preme Court of that State in 1864, and became
chief justice by succession in 1867. He was re-
turned to the bench for three terms His inter
pretations of constitutional law and general
questions have always been considered authori-
ties in their several ways
New YORK. Dec 16-An attempt vas made,
this afternoon, to learn what jay Gould thought
Of the new receiver for the Wabash road a dis
patch from Chicago announcing the appoint
ment of Judge Cooley, by Judge Gresham be-
ing shown him, and number of questions were
showered upon him by reportere but the only
words that could be extracted from him were
these: ~ nave nothing to saw