The comet. (Johnson City, Tenn.) 1884-1916, 1891-03-12

Conultlon u 0uKnt 70 ne 10 transport
passengers it will cost 100000. rhe
receiver has no funds for that pur.
pose, even IL it was the duty OF the
Court to repair mottgaged railroads,
and he is not likely u have, as the
running expenses exceed largely the
receipts. One justification Court has
in running railroad without sale
after the case has matured is the hope
that the unsecured creditors may pos
sibly get some returns for their labor
and property. Here is no cheerful
ray oi hope. The receiverShip must
he short one. There must be Il
speedy sale, and those who aie
secured by the mortgage, which is by
these proceedings sought TO be FORE
closed, must take their security after
payment Of prior liens, If there be any
such, and do the best they can with
it.
Under these circumstances we have
thought it best to select the third per
sou named to US as receiver, Mr.. D
H Cham berlain, nov the receiver of
the South Carolina Road, with which
the Charleston, Cincinnati & Chicago
Railroad connects, and an order will
be passed accordingly.
HuGH L. BOND,
Circuit Judge.
concur. CHAs. H. SIMoNTOS,
United States Judge.
February 25, 1891.
Interview in the news and Courier, Feb. 25.
Ex-Governor Chamberlain, the
next permanent receiver OF the Three
C's, was asked last evening what views
or plans he had for the management
of the property. He replied that he
had thought from the first that the
true interest OF the Three C's lay in
being run in harmony with the South
Carolina Railway. The two roads
form continuous line fromC Charleston
to Marion, N. c., a distance OF three
hundred and twenty-one miles. The
South CAROLINA Railway is the natural
support and ally Of the Three C's,
and is indeed its only direct means OF
reaching the SeabOard.
The traffic which can be drawn from
the North for this road will most nat
urally and cheaply come to Charleston
and thence over the South Carolina
Railway to its destination on the Three
C's. This would be VI legitimate aud
large advantage to both roads, to
Charleston and TO the State.
The expense Of operating the two
roads together would be considerably
less than operated separately, and es'
pecially as rivals or in hostility.
AS to the condition and prospects
OF the Three C's, he could say but
little. Mr.. Lords report showed that
its present condition WAS at least un-
fortunate, perhaps discouraginR. but
he has seme hope, that the road could
be SO managed In ,onnectitn with the
South Carolina road as to enable the
receiver to pay EXPENSES aud gradual
ly to increase the running capacity.
He should at once give his best atten-
ton TO discovering it's wants and the
., sibiilty OF meeting them.
The country through which the
road passes, said Mr.. Chamberlain, is
rich and productive; the road touches
points which seem capable of afford.
ing good deal Of business. His ex-
perience during the past year led him
to feel that something could be done
to lift this road out oi its present dis
tress, and, at least save it fr"m further
disaster, at the same time promoting
the business Of the South Carolina
road, and the city OF Charleston. The
task WAS one OF difficulty, but he &C.
cepted in the hope aud belief that
some good results might be reached
All the creditors might be assured oi
the singleness OF his purpose to give
his best efforts TO the work OF serving
and enhancing the value OF the prop
erty. When he had examined the
situation further, he should, Of course
be better able to determine his plans
and carry on his work. OF one thing
he was sure, that the Three C's ought
to be OF vast benefit to this section
and city, az we'll as valuable for its
owners. He should be happy if he
should succeed in winning the con
fdence OF all parties in interest to tbs
extent that his predecessor, Mr.. Lord