New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-10-09
RAILROAD INTERESTS,
SIGNING THE READING DECREE.
THE UNITED STATES COURT ADVANCES THE LITI-
CATION SOMEWHAT

THE UNITED STATES COURT ADVANCES THE LtIi-
CATION SOMEWHAT.
PHILADELPHIA, Oct. (Specidn In the
Cnited States Circuit Court this morning. Judge bradley
n the presence OF judges McKennan ana Butler signed
the decree OF foreclosure against the Reading Railroad
and delivered the from the bench. The points
makes substantially with the claims made by coun-
sci for the plaintiffs In the argument last Tuesday. IL
says:
1t appearing satisfactory to the court that the defendant
the Phadepna and BEADING ~ @ Karoan and mr. due
January j. 1885 and July 1885. the general mort
Satedg% l. s74to the Fidelity rsi and safe De
@ i@e specRed still continues and further appearing salts
% s S aO@d @eds Of 3 %Oe and
outstanding did before the 81 s snS SUI" & n
Deposit Company trustee to enter upon The & mosagea
% sell dnS 3 S sd IN S sps s IN 5 sGs as
required the purpose of enforcing the rights OF the
the request in Writing the SAID Fidelity Insurance and
prme a Ss nd aid Do perform the imposed
decreed that the plaintiff entitled to have sale OF the
mortgage contained upon the failure Of the defendant to pay
and COUPONS now outstanding entitled to the security
said mortgage And for the pnTose Of aseert'nnS the r
entitled to the security Of SAID d n a rshsr sr Gsss
Pollock esqures masters to ascertain and report within
security Of said mogage and also to report what Liens
by mortgage also ascertain and report the extent
E e s e sss S other property Of the
Philadelphia ami Reading Ral road Company including not
said mortgage but also that which has since
been acquired
Ex.President Gowen, OF the Philadelphia and Reading,
and Thomas Hart IT,, counsel for Reading, have pre-
sented briefs In United States Circuit Court in the
Robinson foreclosure suit in which they say that aiter
decree the aud the fund Is In the GUS
tody OF The original suitor still has the Con-
duct OF the but ceases to nave absolute CONTROL
The general body creditors for whose benefit the de-
cree has been male may intervene As necessary re-
suit OF this Intervention the proof OF the plaintiffs claim
given at the hearing good against these though
1t binds the The plaintiff, as to the general
creditors, must again produce his proof before the
master According to this, Mr. Robinson, provided Mr.
Parson Joined the application could have had the bill
disms sed and there would still remained the
sponsibt7 OF the tostee OF the mortgage to proceed
under the request OF the ondhoders Now that the de-
cree been made the Robinson suit cannot be dscon
nue unless Parsons and such Of the general mortgage
bOndnolders signed the petition TO tha trustee ana
proved their ownership join with Robinson IN such
cour.e. The signers Of the petition owned over
900 900 Of bonds OF these holders OF S93800O OF
bonds desired withdraw their names on the pea that
they had sgnec under msspprrhenson OF the tacts'
Tue allowed sucn withdrawal and now tGo.e hold
OF the suit leaving over OF bonds
aud OF these holders OF SlO95OO0 testified that hey
had sold their share leaving sl,9oO.OOO nelu NY uose
who retain their stock Under the law as above stated
these sn request for discDntlnualice De-
fore the foreclosure proceedings can be stopped Inc
chairman OF the General MORTGAGE Bond9olders Commit
tee asserts that member. OF tne comnltee anu
VINO support sBners for over threefouths or the
amount still remaining unsold ana tha tnereore tneie
will be no dscOntnuance until the payne ut to them In
full OF principal, interest and costs 49,. . ,
evsrv effort will be made TO reorgsnze the Reading
without resOrung to the decree In foreclosure. E1,
that il would not be just junior creditors states
of will be satisfactory TO the Junior
sSs all Ss
REORGANIZATION that will make resort TO the decree IN
unnecessary The hele Is expressed that
should plan OF reorganization not De sgreed upon
psn H. President Corbu is reported to have expressed
himself against a forcibe foreclosure
DISCUSSING THE NEW ENGLAND MERGER.
SECRECY OF THE MEETING AT THE GRAND CEN
TRIAL sTArIoN-NoTHING SAID TO BE DONE
There was pleasant little luncheon party at
the Grand Central Station yesterday. 1t held In the
Office OF President George H. Warous, OF the NewYOrk.
New-Haven and Hartford Railroad and the guests were
President iam Bliss Of the Boston and Albany Pres
dent Charles F. CLARK. and Director F. L. Hggnson. of
the New-York New eland, and Directors william
d. Bishop and E. f. TroW bridge OF the New'fork New
Haven and Hartford Railroad Mcssrs Heginson, Bliss
and Clark came from Boston, Mr. Trowordge from New
Haven, and Mr. Bishop from Bridgeport TO sit NJ Mr
Watrouss table, and when they found themselves to-
pether couple before luDcheon time 1t was 0nt
natural that they should fall to discussing the scheme
which was uppermost in their minds-hat is. the pro-
posed consolidation OF the interests OF the New-York
New Haven and Hartford. New Yo-k and New England
Boston aud Albany Boston and Proviience and New
York. Provi IeDce and Boston Railroads 10 fact, so
interested they become IN the discussion OF this plan
that both guests forgot the luncheon awaiting
them until II had nearly spoiled on tine stewards hands
Mr. Watrous had taken every possible precauton to
prevent interruption and three long hours the doors
leading to his office we're locked At 230 he sent
out a bulletin to those awaiting Developments III the
Office lobby marked official aud reading
Nothing done Meeting ad ourned sine de.
II was an hour and half after this before any one
eme rged from President Warouss room aud then Pres
dcut Clark and Mr.. rrowordee came out arm ~ arm.
ne h1-c iana absolutely nothing said Mr.. Irow
arrived NJ no conclusion aud It does sohable
that we will An indefinite adjournment has been
Don't ask me anything, for | can really tell you
nothing" said Mr.. Cluk pie SANITY. some progress
has been made, but not enough 10 taA aDoul "'Nei
meetings will be held"
talk ana insisted nothing whatever had been done
Director Bishop talked In the sane strain. We only
got toyeter sad TO tax over the interess or our
various COMPANIES and 10 comp are notes.
Gsor,e c. Haven a director of the New-York and
New England Railroad, and Cyrus W. Field dropped 10
late in the afternoon to learn what hau oeen accom-
Mr. Bliss was sought at the Brunswick Hotel but sent
ont word: shall he engaged all the evening There
It was suggested by a gentleman who has been well
informed as to the eps Of s @ Sx oo U
manner of means precluded the possibility that the
ground was prepared for something 10 be done.
NEw-HAvEN, Oct tSpeciaD.-E. IL. Troworidee
chairman of the Finance Com mlttee OF the Consolidated
Roads win az the conference In New lorK
today says i%a ana s and road.
were not thought worthy OF and the wnoe
matter summary dismissed ho reiusos W e"'o
what proposals were made.
PROSPECT OF LOW SIXTH AVENUE FARES.
The is a growing prospect that before long
he m