Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-10-11
FLYNN AND SPRAGUE.
RAIL ROAD RECElVERSHlP CASES BE-
FORE THE cHkNCERY COURT.
The Hearing Continued for Two Weeks
Pending Efforts for ComPro-
mise and Reorganization.

brought in the Chanccry Court, is still un-
decided.
Atnoon yesterday Hon. John 5. Wise and
Mr. Il. 5. Newcombc representing tho in
tcrcsts OF the Sprague Electric Company
Mr.. w. r. Meredith, Staples Il Munford,
and Christian & Christian, counsel for the
CITY Railway Company and Flynn estate
and Aubin L. Boulwarc, Esq, and Captain
Charles t. Williams. attorneys on behalt
Of large creditors, appeared before Judge
/ Fltzhugh. Of the Chaucery Court IN ac-
cOrdance with tho last adjournment
CONTINUANCE.
The Jud~e AT first thought that counsel
were present to proceed with the argument
/ on the question OF appointing receivers;
but hi. mind was soon disabused OF this
impression, Mr.. Wise rising and saying that
after consultation with the gentlemen on
. the other side and III consideration ot the
, magnitude of the interests involved IL WAS
. agreed that there should be longer time
for conference with reference 70 a com
promise. The parties had been IN confer
eucc i'm New York and bad made some
progrcss. but longer time was desirable.
indeed indisDeneablc If they were 90 arriVc
3 af au agreement o. take these cases out OF
court. IL was suggested that there be
2 cautiuu uce for q Week, but me reghrucu
that time as too short. Mr. Johnson, the
president of the SpTague Company and
/ himself wore going at once 10 Minneapolis
and they would not be able to return 10
/ New York until next week; they would
therefore have no time 10 give 10 the case,
and If cOutcnd.ng counsel came into court
next Wednesday 1t would be pronable that
| another continuance would nave 70 De
asked for For these reasons Mr.. WISE re-
presented TINT it would be better 10 ad-
b ..prt,. no eDA4 Il "Wednesday week.
THE NEW YORK AGREEMENT.
Mr.. Frank ". Christian said that on
/ "Wednesday night his side received tele-
cran from tEc.r associates in New York
saving that au agreement had been reach
cd To- ask for continuance until next
Thursday. tie could, however. see no OBJ
/ lection 10 pOetpOnement FOR two weeks,
and they would consent tO It, provided
there were no objections from Their Ne"
/ York associates. Not knowing, however,
exactly what considerations influenced
their associates IN the agreement made
F they would lot like to consent FOR more
than q weeks delay without advising with
/ them.
H., suggestion was that the case be adj
! i0urncd until next we k. and that y no
objection comes from their New York a.
sociatcs. then that a further adjournment
be had until the following week.
posrpoNED FOR TWO WEEKS.
Mr.. Ncwoombc asked that the suggestion
be reversed and that the case bc continued
! for two weeks unless the counsel on the
other side insist upon o. hearing next Weeh.
hlr. Christian SAID this arrangement was
acceptable to them.
Judge Fitzhugh: Then ! understand
that the case is postponed until Nodnes-
Hon. v. r. Staples: Unless our assoc
ciates IN New York object.
Judge FltZhugh: | SO understand.
The court was then adjourned and the
lawyers and the spectators filed out OF
The only New Workers present were
LAWYER NewcOmbc and Mr. Thornton y.
Motley.
THE EFFORTS At COMPROMISE.
I'm This nt1catlon the Spraguo Company
ave trylnr To- put the Electric railway into
She hands of - receiver. They were hae-
tened If not chiefly impellcd To this move
mcut bv the announcement ot officers OF
the Electro Line that the Sprague motors
furnished here were incapable OF DONG
the work expected.
1 Other .uitors in sympathy with the Eiec-
tric Company are asking that receiver ne
appointed for the CITY railway ,horSe-and-
mule line}, and various allegations OF fraud
are made against Mr.. Vi. Is. Flynn, VINO
was the chief owner I'D 1t.
The petitions in these cases have been
filed. but the answers thereto nave never
vet been submitted to the Court.
| The reason iS thal publication ot them
would lessen the chances of compromise.
| Nocotiutions have been going on ln New
York since the ease, were last before the
/ court, with "a view of complete rcorgam-
zalion of the four great electric properties
here iu which the late Maurice Is. lynn
was interested.
TIE BASIS.
Il is understood that practical basis
has been arrived at: but the difficulty OF
contamination is that Mrs. Flynn is not at
liberty 90 deal with her husbands property
ms she wishes. She L. eXccutrX and sole
lcgatcc. but IniurctiOns have been ISSUED
prohibiting her from transferring or other
wise disposing ~ the stocks and bonds
which her husband held IN the Virginia
electrical companies. hcse lnJuncuons
were awarded upon suit, brought 10y menu
lrr- of the firm OF Guy c. llotchkiSs,
Field a Co.. of which concern Nj. Flynn
was partner.
Jay COULD.
If Mrs. Flvnn is anxious for reorganiZa-
tion. and all other expcdients fall, she wlll
undoubtedly have, # she wishes II, the
help of Nh Jay Gould. lie has sad that
he will aid her with ready money, and u IS
/
The Sprague Company do not propose TO
put any more money into the Electric road,
but they hold q large amount OF bonds,
which they VIII fund into tie proposed
new obligations.
THE PLAN.
The idea which the parties in Interest
are cndeavoriug 10 work into pracucau!e
shape is TO cover the CITY railway, the
Electric Line, and the Light and Power
, ! Company's plant with blanket mortgage,
and then to put in money 10 equip the
road with SDrague's new motors and TO
renew the track. &c; also. TO put the
hor,c-car line IN good order again.
This is big scheme.
II REQUIRES the consent Of many persons.
10 accomplish il many conflicting III
tertsts are t. be recOncllcd. 90,
II NAV be done. hut the doing of It Will
be a great achievement
The recently published letter of Presi-
dent johnson indicates that the Sprague
, / Company are burning with indignation az
the Widclv-spread announcement that the
Sprague motor proved TO be a failure III
Richmond.
There are l75 electrical railways in the
lnlted States, Of which "A are operated 10y
the Sprague system; more than 10y any
other system, though the IhOmpson-HOus-
touisastirring competitor, and pro badly ITS
people were not sorry 70 hear tine news
from Richmond.
But rightly understood the announce
ment of the Richmond officers of the Elec-
tric Line Is not that the Sprague system Is
failure. but that the equipment sent here
wa, failure. 1t is only on this point they
undertake to speak.
NIeetin.; of the Directors.
, The meeting of the Board of Directors
of the Union Passenger Company an
r nounced for O'Clock yesterday afternoon
was held two hours earlier in the railway
offices on Bank street.
The session was a short one, and beyond
, the selection of president and Executive
Committee very little was done.
Those present were Messrs. Thornton y.
Motley, vice-president of the company,
and who occupied the chair. L. ;. New
combe. Peter Hall, +. L. Lathrop, and ). ;.
Smith. all Of New York DR.. ". II. Scott,
Wyndham X. Meredith, and Andrew Piz-
zini, Jr.
WHY THEY MET
Mr.. Newcombe who practically con-
troled the meeting and executed the pro-
pranme which had been agreed upon ID
advance. sNdthe board was called together
to perfect the organization Of the company
! L. flt.aua d a n q