The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-06-22
nIcuMoxD TERMINALS zRoUsIEs
Loans Called and More Obligations and
Receiver Immtnenf.

Tho National City Bank OF this city served
notice Yesterday on tho receivers OF the Rich
mond and Danville Railroad Company that In
default OF payment OF q loan OF tho company
duo July 20. amounting to 100000. tho bank
will sell at public auction to-day the bonds
and stocks held rs security therefor. Ihis
sum represents part OF tho loan MADE ior tne
purpose OF funding temporarily the hoatne
indebtedness OF about S6.000,000 OF the Rich
mond and Danville company. That loan was
undorwritten by a syndicate OF bankers ana
CAPITALISTS. besides having behind 1t collat.
erals which oven at present prices show iair
margin. ., run, Ant.
loan, ami tho market value Of tho securities
where there have been regent sales or aI q
low estimate whore there have been no sueh
sales. Is as follows:
10000 4. 7. Va. and TIA LIST mortgage extern 40, ,oo
2 sSs oS WSshinsiop per SSo and wcstsrn m
o HSTfss and g. EGc Sse5 Trust @ Is p.i
2S%SS + and Gans per s CEN, 2 5a9%
zoo shares Va Midland ....,,,.......'....' 'ooo
Total market sli305o
Tho City Bank was for many years one o.
the New York depositorias OF the Central halli;
one Of the results suit, OF President II. Nj. Corners
E to MI St and n "ar9 t2 o
the Georgia Central COMPANY for July !. As
tho Richmond and Danville COMPANY is in the
Eastern District, of Virginia. It Il understood
that Judge Bond OF that court Will be asked to
protect the property OF which he has taken
:. The action of the. City Bank provoked good
dcal of criticism from officers Of other Wall
Of the Richmond and Danyillo company sim
liar in character to that held by the City Hank.
mond and Danvillo Company was placed in
the hands ot receivers last week the officers OF
u number Of these banks conferred Informally
as to what they should do regarding their
lonns TO tho company and agreed to let them
stand for several reasons. One was TINT they
satsfn"tory in tho present mt condition Of tho
money market, and another was that they felt
itMould be impolitic to nEgravatc inc situation,
rumors that an application had been made to
have the Richmond Terminal ComEaany also
ports could not be Verified but the opinion is
general that. should such a stop b" taken by
those who arc "ndeavor!nG to preserve tho
unity Of the various properties. i will be done
in such wa9 as TO protect them from assaults
hy inmical interests. In fact. i is known that
sidcrng what plan of attack they can best
Whatever has been done by Messrs. Mahep.
Clyde. and thcir associates has been done with
view Of facilitating the work of Messrs.
Rrexel. Norman CO; sh9nld they u undertake
Company. and assurances to that effect have
-, J"lements for s2la.5sc against the Rich
Maben were recorded in the County. Clerks
Office late Yesterday afternoon. This, is prob
Terminal Tor COMPANY. Slr il: c Fahnestotk Of
the, First National Bank said Yesterday that he
hir'. rs long ago as last March, thought that It
the hands of receiver Mr.. ]. C. Mnben was
one of the subscrihsrs to what is known as the
friends Of the company on March 30 to meet
the fixed charges OF tho company due April l.