Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-09-19
To SAVE THE CANAL.
A.Last Vigorous Attempt to Prevent
the SpOliatiOn of the Chesa-
peake and Ohio.
TRUSTEES FOR THE B0NDH0LDERS
Under the Act Passed in 1914 Carry the
Case Into the Court of the
District of Columbia.
TRUSTEES FOR THE BONDHOLDERS
WILLING TO OPERATE THE WATERWAY
And Confident That it Can be Repaired and Kept on
Sound Basis.
lrrom A srArr coRREsroNpENr.l

IFROM STAFF CORRESPONDENT
WASHINGTON, September 1S.-A last
and very interesting attempt to save the
Chesapeake and Ohio Canal from oblitera-
tion is now in progress, and the tens oi
thousands who are anxious to see the water
way preserved as a check to railway rapac-
ity will await the outcome with much con-
cern. In the two cases of Brown ct al
against the Chesapeake and Ohio Canal
Company q petition was filed to-day by
johnson and johnson, of Baltimore, for B.
J. johnson, j. S. Cuttings, c. NJ. Matthews
and f. NJ. Colston, trustees, for the bond
holders of the Chesapeake and Ohio Canal
under the act of 1874
They are the surviving trustees under the
mortgage of June 5, 1S4S, and represent the
bondholders under the act named. They
claim the right to redeem the bonds issued
under the act of 1873, secured by the mort
gage to Brown, Sloan and Lowndes, t-us-
trees, for the foreclosure for which the
second bill was filed, and upon the payment
Of principal and interest of said bonds to
become subrogated to all the rights of said
bondholders under the last mentioned
mortgage.
RIGHT TO REPAIR AND OPERATE.
They further claim under the mortgage of
1S4S and the act of 1874 the right to take
possession OF the Chesapeake and Ohio
Canal and its works, and repair and operate
the same as water way, and appropriate
the tolls and revenues to the payment of
expenses of operation, repairs and principal
and interest of the bonds of 1878, and the
L j Al. L.
represented by them.
They state that they believe that they can,
If given possession, restore the Chesapeake
and Ohio Canal as a water wav, and operate
the same so as to derive tolls and revenues
sufficient to make all the payments afore-
said. For a statement OF some of the
grounds of their belief they refer 20 the re-
port of the receivers. They state that they
are advised and believe that only the hold.
ers of liens prior to their own are entitled TO
object to the exercise of the right they
claim TO take possession of the property
and operate il, and tender themselves as
able to do it and willing to pay at such terms
rs the Court may fix all sums necessary to
paw the principal and interest of the bonds
of1S7S and all other liens created since the
issue of the bonds represented bv the petit
tioners, which the Court NAV hold to have
preference, and to raise and provide all
money necessary TO repair and restore the
canal and its works and put il in good order
as water way for transportation.
ASK FOR A DECREE.
They therefore ask that in the causes con-
solidated the Court decree that petitioners
are entitled to purchase and hold the bonds
OF 1873, and upon such purchase to be sub,
rogated to all rights OF the holders under
the mortgage and act of 1873, and upon pay
ment or tender of the payment of the amount
of principal and interest the surviving trus-
tees under the mortgage of 1873 be directed
to transfer, assign and deliver said bonds;
that on such payment and transfer the re-
ceivers be decreed to give petitioners posses
sion of said canal, its franchises, routes,
etc, and that any order passed
for the sale under the mortgage
OF 1873 shall provide expressly that such
sale shall be stayed or postponed ct peti-
TONERS request whenever they have paid the
principal and interest on the bonds of
1873, and that any such order or decree of
sale for the foreclosure of the lien or liens
held by the State of Maryland shall ex-
pressly provide that such sale be made sub
ject TO the rights of the petitioners and their
successors, to hold, repair and operate said
property, etc.
Judge Cox made an order directing that
the motion prayed be set down for hearing
on October 1, provided copies be served on
the solicitors of the other parties to the
causes. LIGHTNER