The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-01-01
RAILROAD RUMBLES.
Receiver Appointed for the c.
w. & B. r. r.
FROM SIOUX CITY TO OGDEN
Movements of Now Company In tn,
Interest Of the Illinoi, Central
The Union Pacific.

CINCINNATI. December 31,-An appli-
cation was made, this morning, before
Judge Pack. of the superior court, for
the appointment of a receiver for the
Cincinnati, Washington & Baltimore
Railway. The judge appointed Colonel
Orlando Smith, who has been president
OF the road, and Henry G. Yergason,
vice-president of the Merchants Ma
tional Bank. of this city, as joint re-
ceivers. The petition was filed by the
Farmers Loan and Mortgage Creditors
Company. The bill alleges the failure
to pay any interest. and that it is in.
solvent. The indebtedness on which
the suit was brought is the first issue of
bonds OF the amount of 81 100000. On
this is an accrued interest of $3.50 900.
THE BALTIMORE & OHIO ROAD
was represented IN the action, and
acquiesced in the proceeding. 1t has a
claim for 1880. 600 interest. A judg-
ment was entered some time ago against
the company for 81, 500, 600 in favor of
the Chesapeake & Ohio Company. The
bonded indebtedness of the road is
$1&, 705, COO; the unpaid coupons due
amount to $7l0, 842, with interest from
the time they fell due. The earnings
OF the road since its organization have
fallen short of meeting the fixed
charges in the sum of S1,232 900. Its
indebtedness in interest and warrants
during the proceedings for its reorgan-
iZation prior to 1883, is $685. 800. making
its present Indebtedness nearly l OOO,-
600, and tomorrow this will be in
creased by coupons falling due to the
amount OF $93 800 The COMPANY also
issued 81 500 900 income bonds in ad-
dition to the inde btedness before men
toned. The receivers were put in pos
session of the road and authorized to
proceed with its management.
SIOUX CITY TO OGDEN.
CHICAGO, December 3:.-The move
ment Of the new company that is pre-
pairing a line of railroad from Sioux
City, through Nebraska and Wyoming,
to Ogden, Utah, and which is alleged to
be in the interest of the Illinois Cen
trail, to afford this company a western
outlet from Sioux City, has stirred up
the Union Pacific. It is authoritatively
stated the latter is behind the work
now being done between Sioux City and
Norfolk, Neb., to which point the Union
Pacific has q branch tapping the main
line at Columbus. Extensive right of
way purchases hsYe recently been
made between Sioux City and Norfolk,
and should the new company carry out
its announced intention to begin work
EARLY III THE SPRING,
1t will bank up the track between the
two points and begin business at least
year before the new transcontinental
could get into shape. Union Pacific
claim that they will be forced
to build new line in order to protect
their business in northwestern Ne
braGks. It 10 claimed the Chicago g.
will join hands with the
Union Pacific to control the trade of
that section.
One of the leading spirits in the re.
cent meeting of railroad engineers says
the object was to consider facts which
hood, and declares all roads running
out OF Chicago, except three, have been
helping the Burlington road in its fight
with the stirling engineers, by black
listing the strikers. He declares that
unless this boJcotting was discontinued
soon, the biggest strike ever seen in this
country will be inaugurated, paral-
izing the railway transportation of the
entire country. 1t will include all
classes of railway labor.