New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-09-19

roads, and those fields sold TO the railroad COM
pany As the property was improved and the value Of
the stock enhanced. the management closed out to
various parties until the control Of the road passed out
Of their hands. At the election in 1885, John W. Shaw
was chosen president TO succeed Burke. The
following February i brought suit against Burke and
the Old dinectors for s6,OOO,0OO being the amount Of
bonds issued By the ccEng Valley road under their
management for the purchase Of the coal lards In
question Tho claim was made that these lands
not worth the amount paid for them. and that Pres
dent Burke had beeh guilty OF criminal fraud In MAJ
ing the deel
ONE POINT GAINED BY THE OREGON COMPANY.
Argument was heard by justice Barrett in the
Supreme Court, Chambers, yesterday order to
show cause why Elijah Smith, Prosper W. Smith,
Sidney Dillon and John H. Hall should not be
punished for contempt Of court. The allegation
against them IS that they have dsobcyed Just ce Van
Brunt's Injunction granted at tho suit of Brayton
Ives and others, restraining them and the Oregon
Railway and Navigaton Company, Of which they arc
officers from Withdrawing funds from tho Farmers
Loan and Trust Company and from proceeding with
the construction OF branch lines and Of bridge
the Snake River.
c. W. WetmOre, who appeared with Joseph VI.
Choate for the plaintiffs, contended that as $1,000
600 had been drawn from the trust company and the
checks for the money had been lndorsed by Elijah
smith, as president Of the railway company, and de-
posted IN various banks, contempt Of the courts
order had been CONN tied. An affidavit by Elijah
smith was presented in which he acknowledged that
the money had been withdrawn but said that this had
been done the day before the order issued and
that therefore there was no contempt His counsel,
T. VI. Johnson. Insisted that the court had no 1uris
dction in regard TO the work OF constructing branch
Justice Barrett held that he was right on this
point, but decided that further testimony should be
taken before referee In regard to the money trans
act on.
TRUNK LINE PRESIDENTS TO MEET
As was expected, the return from Europe Of Pres
ldent Depcw has been followed by call for a meeting
Of the trunk line presidents TO consider the general
situation President Roberts. Of the Pennsylvania has
Issued the call, and the conference will take place
Friday There IS some surprise that Mr.. Roberts did
not wait short time longer, as Commissioner Fink IS
expected homo from Europe in the beginning Of De-
ober There every reason suppose that the roads
viii adopt measures OF harmony, railroad men see
large fall traffic before them and already scarcity
OF cars Is felt at Western points Of shipment What
Will be the outcome Of the meeting II is hard TO pre-
Dict The OF the Pennsylvania with regard to
rates has been errac al times that the New York
lines at loss to know what that company wishes
Since the Interstate Commerce law forbade pooling,
the nearest approach 10 system for preserving an
equitable distribution Of traffic has been the device of
dierenta freight rates but the Pennsylvania objects
to this without suggesting practicable method 10
substitute. II Is certain that the Erie and the So
Il
on uniform rates The general disposition OF ne
trunk line managers, however. is 10 treat the din
cules of the situation with conservatism hoping that
later the pressure Of business VIII solve unsettled
points
MISCELLANEOUS RAILWAY INTELLiGENCE
Philadelphia Sept. Is (specia).-The directors OF the
Camden and Atlantic Railroad have authorized the issue OF
sl25 600 general consolidated mortgage per cent bonis
bonds and mortgages real estate ana 70 take
Up the floating debt. The Will 1911.
already 1850 600 bonds Of this issue outsand
which bear per cent Interest They quoted in
market no. and the expected sell
about par. saving Of about - 600 per Fixed
charges Will be Effected by the funding operation when
the first mortgage Is MIXTURE TIVE years hence they viii
be refunded IN bonds issued under this mortgage
Judges Allison and Bddle have refused authorize the
Reading Railroad Company to retain the three mills
sehuyikAl Navigation bonds Tor which Judgment
raj been a,Ae1 by Walter Hnchman against the company
The followed Judge simonton OF Dau
phn County that the IS unconstitutional by Of
It's inequality.
Chicago. Sept 1s.Thc railroads entering Chicago from
the West, Northwest and Southwest have agreed upon
rates to apply 10 live stock shipments under the weighing
The rstes from Omaha and Kansas CITY Chi
cogo on cattle and sheep will be 81 IL hundred
pounds On hogs the rate will be y 10 nom
Omaha and 25 cents Kansas City. From ST. Paul
TO Chicago Of % msde on cattle and
80 cents hogs and sheep These will take the
place Of present carload and will 90 into effect
October 10
Minneapolis. Sept Is-The stockholders o, the Mime
apos Paul and Sault Ste Marie Railroad at the an
nusl meeting held today elected Board Of Directors
composed OF Minneapolis and with two exceptions
The that the board last year W. D. Wash
burn reelected president the board and Thomas
I-OwcTy made vice President
St Paul, MINI. Sept ls.-The State Railroad Com
have decided establish special grades for
frosted wheat but leave the whole question 10 State
Grain Inspector James lie states that nc will grade
frosted strictly according to It's value II badly
frosted II VIII b. chased No grade" II not so ruch IN
ured Il will be given the grade which belongs The
same rule viii apply wheat coming this Safe from
Dakota.
Albany, Sept 1s.-At the annual election Of the Albany
Susquehanna Railroad Company today the following
directors FOR the ensuing year elected Robert NJ
OlyphsAt Of New-York c. T. Young Honesdale
Penn; Minard Harder, OF Cobeskil; William L. NJ
Phelps Albany Roosevelt Of Hyde Park; Henry
NJ Olmstead, OF MuTist0wn y. J. James X. Taylor
and David Bows. OF NewYork George J. WILDER. Of
Oneont Alfred van SantyOosd and BENJAMIN II. Brstow
OF NewYsrk; Horace g. Young, Of Albany.
BRAVE 4RR4Y OF ATHLETES AT DETROIT.