The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1891-10-23
THE OREGON PACIFIC RAILROAD
CASE

Pursuant to an order of Judge M. L.
Pipes of the circuit court of Benton
county made on the 18th day of last
August, that the receiver of the Oregon
Pacific Railroad Co. and w. v. &C.
abroad, Co., Col. T. F. Hogg should
appear before the court on October 20,
1891, and show cause why he should
not. be removed as receiver of the
above named roads as asked by Attor-
ney General Chamberlain and Hon. 7.
K. Weatherford, representing certain
employees of the road The matter
came up for hearing Tuesday afternoon
the Goth inst. Receiver Col. T. e.
Hogg appeared, represented by w. w.
Mcfarland, of New York, and the
Oregon Pacific R. R. Co., and the
Willamette Valley & Coast Railroad
Company by Judge L. Finn, of Al
bany and the Farmers Loan & Trust
Company by Mr.. HI. B. Turner, of
New York, and Hon. J. R. Bryson of
this city. Col Hogs as receiver, filed
an answer to the petition of the en-
ployees, represented by Messrs Cham
berlain and Weatherford, for his re-
moval, in which he shows in detail a
full account of the earnings and dis
bursements ofthe road during the time
he has been acting as receiver. The
answer also sets out that at recent
meeting of the bondholders a commit
tee had been appointed to effect a re-
organization of the companies, but the
receiver gave no assurance to the en-
ployes that this step would certainly en-
able them to- obtain the money due
them.
After the arguments of the attorneys
on both sides of the cases Mr.. III. B.
Turner for the Farmers Loan and Trust
Company made short statement to
the court in which he explained the
condition of the railroad company's af-
fairs in New York, and why the re-
ceiver, under the conditions of the
of the money market had
not been able to raise the money with
which to pay the expenses of the re-
Mr.. Fay then stated that he
the bondholders commit
tee known as the Wharton committee,
and also stated to the court that he
would file petition for the removal of |
Col. Hogg as receiver; and would ac
the petition with an assur-
ance that his clients would raise $751;
300 towards the paymentof the money
due the laborers, if a new receiver
should be appointed satisfactory to these
Judge Pipes made a statement that
le would make an order for the sale
,f the properties now in the hands Of
he receiver and that the money re-E
,eived therefrom should be paid into
he court and be applied first
o the payment of the employees. He
tated further that he would make any
order possible in the premises, where
~ the employees might receive what is
lue them. T
Judge Pipes delivered Judgment and
tated that the admitted facts were that
he receiver had made an effort to sell
lis certificates but had failed to do so,
lis efforts having been obstructed as
le alleged by the opposition of a GER
ain faction of the bondholders; that
he claims of the men were undeniable,
nd their conduct excellent; and that
he unpaid debts to the employees
ught not to be allowed to remain on {
ccount OF the troubles existing among
be rich bondholders, who were seek
ng the ultimate ownership of the prop
rty; that therefore the accounts of the
sceiver would be referred to the ref
rec, ]. w. Whalley, already appointed,
or investigation; that the hearing
ould be continued on until October
3, at 1:30 o'clock, p. m. n
The court ordered that the decree S
" the sale of the road made in April 4
st should be carried out as soon as I
le necessary advertisements could be d
lblished, which the court understood 9
be in six weeks at the latest. that "
ling the speediest and most certain S