The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-19
THE RAILROADS.
New Bond Issue Of East Tennessee.
Tho Directors OF tho Road Arrange
for improvements.
Wabash Litigation Assumesa Very
Sensational Aspect.
Annual Reports OF Business Done
by Missouri Roads.
Meotlug OF tho Traffic Associations-A
Variety OF Information About
Many Important
Lines.
Wabash Litigation Assumesa Very
Sensational Aspect.
Annual Reports OF Business Done
by Missouri Roads.

CmcAGo, H., Oct. lS.-IIenry Craw.
ford, who is now solicitor for Humphreys
Il liudlcy, the trustees Of the Wabash
mortgage OF 1879, has filed with Judge
Gresham q brief containing sensational
allegation, attacking the validity OF several
million dollars of hitherto supposed in
dcbtcdncss Of the Wabash system. Tho
paragraph in which this claim OF lien upon
the roadway in Ohio is made by the Farm
crs' Loan and Trust company, 10y virtue
OF the mortgage of the Toledo 4 Illinois
Railroad company, cxccutcdin 1853. Your
orator shows that all OF the coupons de-
scribed in said recorded mortgage were fully
paid nj and before the year 1865, and tho
said corporate existence Of the said mort
gage, or wholly ceased by virtue OF fore
close aud sale Of all its property and the
entire principle OF such bonds matured by
the terms OF such mortgage in 1867 and
moro than twenty ycars have elapsed since
the full right accrued to iorcClosc such
mortgage ior the principle thereof Your
orator further shows that precisely the
Same facts are true with regard to the
claim OF lien on the roadway In Indiana
-
| executed 10y the Lake Erie, Wabash X ST.
| LOU. Railroad company"
This afternoon Judge Gresham reached
a decision ON the motion which has been
argued before him in the past two days 10
consolidate all tho foreclosure suits in the
Wabash litigation.
lie held that the divisional mortgages
should an be- consolidated with the Knox
& JoHup mortgage pending ut Spring
/ fold, Ill., lie said, however that lac would
not enter the orlcr until after q similar
motion at Nashville, Tenn, by Judge
jackson on Monday next The court al
lowed the motion for the payment Of one
siN months coupon ON all the first mort
meus, aud the funded debt bonds, amouut-
| ing 10 suul,uuO.
The motion tn have the receiver, McNul-
/ a., keep separate accounts ior each division
! ui the Wabash, Is expected 10 occupy
! Judge Grsham's attention tomorrow.
| Annual Ucports OF missouri, u"aas.
| Cu,,Aao. ~, oct. ls.--A dispatch trom
Topeka, Kas., SAYS Tho Missouri faciny
has filed Its annual report The followns
figures are given. Total bonded debt, 81,
g.bO OD. total cost Of construction and
equipment. so. iGG. 49, 49, earnings Tor
the wear. sja,GB,p3IG6, expenses Tor the
year. slI, Ias. 5aN22. During the year the
company paid dividend Of per cent, on
| common stock amounting Ia -, 1898, 'il,NN
The annual report ui the Missouri, Kan.
sas a Texas Railroad shows that the total
earnings iur thc yoarWotc sd,Nil,N total
operating expenses, l,ujS,3sNdo, leaving
an excess cod earnings over operating cN'
prusH ui l,mJ lNlGh In addition To
operating expenses there was paid out iol
obstruction aud other payment the SUI
ut sG.pHNOAll. This creates a deficit 10
d the wear of sl2lO, sl0lG. The total b0ndc
d debt Dos 80, lGGOD.