New-York tribune., 1891-10-16
TRYING TO OUsT THEIR RECEIVER.
OREGON PACIFIC BoNDHOLDERs GET WARM On
TIE suBJEcT OF MR.. HOGG.

OREGON PACIFIC BONDHOLDERs GET WARM oN
THE SUBJECT OF Mr. HOGG.
About seventy bondholders of the oregon racine
Railroad Company met yesterday In vacant room Oh
the building OF the Farmers Loan and Trust OOmp"uy
TO discuss the prospect OF REORGANIZATION Inc m0ov
ing was decidedly warm as regards the criticism passed
upon r. EgcntOn IOgg receiver and president vi 'S
company. The expressions were unpaillamentary 10
a decided degree, such an epithet thiet pehg
used frequently as descriptive of the receiver. n
rumor was spread late In Wall Street that Mr.. HosS
had made an attempt to assault the venerable John
]. Blair, of DairsOwn, " j. and WIS only pFevenled
by the interpOsltiOn OF his nephew. James ~ Bldlr'
This story squelched when it was ascerAned tat
Mr. HOgg was not present at the mectng lounS
Mr. Blair emphatlcally denied that there had been
any personal altercatlons at all and he was indignant
that it should Ice supposed that there could be any
among men OF the character who composed the gather
ing. Mr. Blair admitted however, that there lad been
% warm discussion at times.
The outcome of the meeting harmonious The
following committee appointed TO prepare plan
Of reorganization and devise ways and means tor pro
tectlng the bOndholders Alexander Brown, OF Bau-
more: joseph Wharton, OF PHILADELPHIA James A. Blair
Of New-YOrI; LEley smith, of Philadelphia; George
$ Coe president Of the American Exchange National
Bank: George b. McKim, # Philadelphia, ana H. !"
Hazard of Peace Dale, r. l. The vote was UNANIMOUS
and represented $14,00O,0O0 out OF the @looOo'ooo
first mortgage bonds issued. The committee VIII mee'
next week to organize and will report plan iater
In the bondhoders Is understood That an etor1 10
GUST Mr. Hogg Will be made at an early date. MI
Fogg was in the city short time ago. but he Is no"
on the way TO Oregon 10 defend suit OF SlOO'oOO
brought by worllmen the road for claims unpaid
Tho bondholders are willingly to assume responsibility
for these claims ii the courts will effect change III
the receivershp.
The oregon Pacific has been in default on interest,"
since October, 1890. 1t projected from laqulha
BAY. Oregon to Boise City, Idaho, distance Oh ooO
miles. 1t has been built for 14O miles. Since INC
default there has been hot contest waged between
the Uogg management and the bondholders Inc
mortgage authorized the bonding Of the ROAD at the
rate of $4,000 q mile, the bonds to be issued
| only as the road was completed hccOIu
| Ing TO the claims OF the Blair faction Ihis
would mean Only $3,5OoOoo bonds outstanding on the
| completed 40 miles, whereas S15oOOOoo have been
sold The net receipts from the sale were about ST.
OooO so that the present bonded Indebtedness rep
resents some 10000 per mile The bondholders nave
! ~ times accused Ifr. HOgg and his friends oI I'M
nroperly proftlng by the difference between the eos
~ fhc road ard the actual issue of bonds Inc Hoss
faction dispute this interpretation OF the morl-Sc lu
deny All charges of improperly. 1t IS declared now
over bv he Blair faction that the outcome OF Sos'e
davis meeting Will be the removal Of Mr. HogS aS to
| eel