San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1890-07-14
IN RECEIVERS HANDS.
THE S. A. p. AFTER A GALLANT
FIGHT GOES UNDER.

FIGHT GOES UNDER.
Overwhelmed With Debts, Judg-
ments and Executions.
The following appeared this morn
ing on the file docket of the Forty
fifth District Court:
JOHNSON AND HANSEN
VERSUS
,, THE S. A. & A. P. R'Y,
Debt, and for the appoin tment of q re-
ceiver.
The petition of plaintiffs after stat
ing in the usual form the place of
plaihtiff's residence, and that defend
ant is railway corporation organized
under the laws of the state, goes on to
state that the company is indebted to
the plaintiffs in the sum of S2l, 2s4.26,
due the plaintiffs for work and SER
vices in grading defendants road-bed
that for $40, 900 of this sum the de-
PENDANT delivered to plaintiffs
promissary note, dated November %.
1887, payable four months after date,
with eight per cent. interest, and
that this note has never been paid
either principal or interest and the
balance due plaintiff was shown by
settlement on March 31st 1890, to
amount to Sill .2S4.26, neither sum of
which has been paid. The petition
goes on to state: "That defendant is
in addition to the indebtedness to
plaintif indebted to various per-
sons, firms and corporations in sums
aggregating approximately the sum
of sixteen and one-half million dol
lars, which amount includes bond
ed indebtedness and interest thereon
of about thirteen million dollars.
That defendant owns and operates
about 645 miles of railway in BeXar
and other counties of West and South
west Texas and has in use rolling
stock and other property necessary to
the operation of such road. That
of such rolling stock a large
part is leased or held only
by contracts of conditional pur-
chase and to which it has no title.
That defendant is hopelessly insol-
vent and is utterly unable to pay its
debts now past due. That defendant
is indebted to various persons In large
sums of money represented in judy
ments now outstanding against it on
which executions are threatened and
which will doubtless be issued,
among such outstanding judgments
being some in favor of Chas
Schreiner. aggregatlng about the
sum Of $4,000, and some in favor
of August Faltin, aggregating about
the sum of $4,000. That such
claims of Schreiner and Faltin
are on judgments had in this Honor
able court at a former term thereof
and executions are now threatened
thereon to enforce same, which execu-
lions will be levied on the rolling
stock, property, franchise and rights
of the defendant company. That
snch a course being allowed will re-
suit in wrecking and dismantling
said line of railway to the irreparabie
damage of petitioners and all other
creditors, as we'll as great damage
to the state and the people thereof.
That defendant corporation is also
indebted in numerous other judy
ments, debts, and also to M. Kennedy
in the sum of about $4,000, 900,
to McCarty, Kerrigan & Co.,
in the sum of about $50, 900;
which latter claim is pending in Falls
county, Tex, in the district court of
said county, and to various other par
ties in large sums of money. That
defendant has no means with which
to pay such claims, or any material
part thereof, and if the several hold
ers thereof be allowed to pursue the
same to judgments, it will result in
satisfying few of the holders and a
complete loss to the balance. That
defendants property is not suscepi-
BILE of division aud that it's value will
be destroyed should such executions
be permitted to take its engines and
rolling stock, and dismantle the
road, preventing its continued opera
ton.
The defendants property is
high way and postroad,
and its usefulness and value will be
needIessly destroyed if Its operation
is interfered with. That defendants
road is mortgaged for a large sum Of
money, namely about thirteen and a
half million dollars, represented by
various classes and kinds of bonds on
which the interest is past due and un-
paid. That defendants property IS Of
about the value of $l2 100000.
The petition then prays the court to
interfere to prevent the usefulness of
the road to the public being do 'troyed
by being stripped of Its rolling stock
and that plaintiffs have Judgment of
their claim.
The answer of the company is as