Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-06-05
THE R. Cd. COMPANY
4 PETITION ASKING THg APPOINT
MeNT OF A RECEIVER ron RI.
rBy telegraph % the pispsseh.l

tby toiegrepn 70 the UgpAtonI
ATLANTA. Ga, Juno 4.--Ths Central Rail-
road Of Georgia, through its Board Of Re-
ceivers, fled o petition In the United
States Court at Macon this morning ask
ing that receiver DO appointed for the
properties of the Richmond and Danville
railroad. first for subpoena against the
Richmond and Danville Railroad Com.
pany in the terms OF the law; second, that
some right and proper person be appointed
receiver BY the court to take possession
and charge of the railroad property and
franchises OF the said Richmond and Dam
ville company, ard to hold and operate
the same under the direction Of the court.
TuE VARIOUS CHARGES.
The petition charges that the Richmond
and Danyille Company has been IN an en-
barrassed financial condition for months
past in New York. where this and the other
Terminal companies are controlled and
managed. 1t cites tho efforts made to
put tho Terminal on its feet through re-
organization. IL charges that the Rich
mond and Danyille has failed TO
meet in this State its ordinary and
current operating accounts, owing
its employees IN this State nearly $780,
600 when IL abandoned the Central rail-
ROAD, anu tho fetclfcTs VI tul5 CCuIb, ny
direction of the court, have paid the IN
debtedness TO said employees of the Rich
mond and Danyille Company IN order to
relieve the pressing wants OF said EN-
ployees, neatly If not all of whom are poor
men, dependent upon the prompt pay
ment of their wages for the support Of
themselves and their families.
President Corners affidavit goes on to
say he verify believes and so charges that
l,.t I'D a, al dAA
by the grant of an injunction and the sp.
pointnent of receiver to take charge OF
the railroad property aud franchises OF the
said Richmond and Danville Company, as
hereinafter prayed. there is grave and i'm
mInent danger of the loss to the orator OF
tho whole OF Its largo claim against said
company.
THE MAIN COMPLAINT.
The most important matter in the petit
ton ls tho sixth complaint of the Central
of Georgia. 1t shows that under the lease
the Richmond and Dsnville Company Is
indebted to the Central railroad In the
sum of S2,45e, 67O.27, and in addition TO
this. as the result of the operation Of the
Central road and other properties by the
Richmond and Dsnville under said lease.
a large number of claims have arisen and
are now unsettled for materials furnished
and for other matters for which said Rich
mona anu DenVlIe CSuptnJ arc haUio uu-
der said lease.
II is further charged that the Danville
Company by failing to meet dividends due
to Central and Southwestern stockholders,
by failure TO pay its other Indebtedness,
and by diyerting freight and other busi-
ness from the Central lines, has largely de-
preciated the value of the Central stock:
When the Danvillo took charge OF
the Central the stock was above
par. 1t had been paying to its
stockholders semi-annual dividends of
to 81 per cent. besides paying It's fixed
charges and oil other obligations. The
company had just pride in its credit.
and in this it has been largely damaged by
tho Danvilles nine-months' control-to
wit. IN the sum OF S5OO, 900. or other large
sum.
This application has created great excite
ment in railroad and business circles.
Judge Speer. of the United States Court,
has fixed June 18th as the date for the
1 baaripg