The sun., 1890-01-16
NEWS OF THE RAILROADS
Tho Latest Information OF Interest From
All Quarters.

AL quarters.
MIDDLETON, N. Y, Jan. 15-Articles Of
association OF the Utica and Unadilla Valley
Railroad Company were filed with the Secre-
tary Of State at Albany Sept. IL. 1883. the
capital stock being fixed at 100000, and tho
purpose OF the company to build q railroad
twenty miles In length. between New Berlin
station. on the Ontario. and Western Road and
Bridgewater station on the Delaware, Lacka-
wanna and Western road. The scheme for
the new railroad was originated and promoted
by two well-known New York city railroad
contractors Delos E. Culver and Albert c.
Couch. They doomed the enterprise with the
people living along the proposed line Culver
subscribed for $100,0 900 and Couch for $50. 900
OF the capital stock Of the company and they
persuaded the people along the route to sub
scribe for the remaining $50.O00. and in most
cases to donate Ito the company the rights of
way for the road through their lands. Couch
and Culver elected themselves respectively
President and Treasurer OF the company
At length. In obtaining rights of way, tho
promoters struck snag on the farm Of samuel
J.. HoXiO oi tho town OF Brookheld. HoXie
the land at what Couch and Culver regarded
the Supreme Court for the appointment OF a
commission to appraise and condemn the lands
grounds that the railroad company had never
been legally Incorporated and that the officers
OF tho company were not acting in good faith.
On this report Justice Walter Lloyd Smith
bases series OF remarkable findings OF fact
lent methods Of the promoters Of the scheme.
Tho Court finds that when d. T.. Culver sub
scribed for 100000 worth, and when A. q.
Couch subscribed for $4,000 worth OF tho
stock they were both insolvent, and that the
subscrl lptions were not made in good faith, in.
psP cent Tequsd By and
also. as the subscriptions were made as
agents for their respective wives in order that
officers OF the company, and the wivos, at the
same time. be relieved from responsibility as
The Court also finds that Couch and Culver
conspired In bad faith toward tneir associates
In the i4 from the he
price and that the D. Z. Culver Construction
Company, WHICH got the contract for building
by the said d. Z. Culver, and that it is not the
intention OF the construction company In good
faith to build the road between the places
named IN the articles of association. The
"The evidence in this case has impressed
scheme on the part OF two adventurers to pro-
cure 100000 from the residents Of the Unadila
valley and give them stock which shall be
worth very small percentage OF the amount
paid. Tho claim made by the petitioners that
the IN stennse 81 IL t she sodS a
cannot be accepted. The expenditure was
necessary In the prosecution OF their fraudu-
money lost in the attempted consummation OF
q wrong"
Finally the Court finds that the Unadilla VAL
Icy Railroad Company was never legally incor-
porated, and that Couch and Culvers connec-
tion with the company as directors was an eva
sion OF law and illegal. and gives judgment In
favor OF Hoxie. with costs.
There was another conference yesterday be-
tween the general passenger agents OF tho
Southern roads and the trunk line representa-
tlves with reference to the change OF rates be-
tween New York and Memphis to the same
basis, as to mileage. as the rate to St Louis,
by the East Tennessee. Virginia and Georgia,
which has the most direct route TO Memphis.
and II the plan suggested goes through the
Memphis rate will be loss, whore 1t is now sew
eral dollars more. than tho limited ratio Of
S24.25.
Tho Pennsylvania Railroad Company will
push the work on q new line across the
loughiogheny to connect with the Sewckey
branch. thereby securing near cut 10 tho
main line at Irwin station: There can be no
doubt that this new line will be extended west
ward to connect with the Panhandle short
route for shipments OF through express, mail
and freight, without passing through Pitts
burRh. This will, OF course, avoid the enooun-
tering blookadOs caused By heavy tranio In the