Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-06-19
COMMENT IN NEW YORK.
A. Iesrt wan he Made to Recover Steam
ship stock.
York Tribune, lsih.l


Sew York Tribune. lsih.l
Ill r.,. hers IF the firm OF Drexel,
-... l l.. yesterday declined officially
.-- Gee bearing IF the recoiveTship
.. edmond and Danvle system
-.. attitude toward tue project
..t.0u OF the richmond Iefinl-
....,. IL Is understood, how
-.. t.. steps taken by William =.
e. Mai. %, and y. II. GOadby
... .lt4vorabiy affected the dispo-
I-.1rl Morgan a Go. The nrm
.. work studying the details on
..-.l w.tl an eve 40 business
-..-siou viii be gwen from the
-.t r. W % businessmen, without re-
t.ctionll contests n the Rich
-.lla. or the litigation now Gu
ae.-s Il the Richmond and Dan
.r been served with the order OF
.n. md have turned over the
D. .erty % the company and It's
.l controlled lines 10 the re-
r.- N. hudekOper aud Reuben
i.+r Sir. Foster IS n the city. but he
tt.. g. say except that practically all
r..-..t operating officers had been,
.-. reappo ute1 by the receivers.
IT,. rc-.etr intended 10 manage the
tl tle benefit Of OIL interests
stock market was IN no way dis
'.. fls sudden action OF the Rich
..ll u.uviile securitv-holders. The
-lt made public last evening
.t.- uL0GDp.ieI Tor the recelVershlp
t..rt. -.e Proceedings IL clear hight ~
H.. --.--s- . that d vigorous eiort VIII
made under the TecelYersnlp 70
-... %. stock OF the New England and
,-.-.l.l steamship Company from the
....-.. flrre receivers Of the Georgia Cen
r.r..L Some further de ais OF how
t... ... was taken from the Richmond
-.. U.tf..- were mode public yesterday.
Wing statement was made by
-.'... 9- ~. J. Clyde and j. &. Maben:
I'D t.e principles and practice LAID
.rl ..i ulr.uei by Judge Speer, IN
0-- 20 tae instigation Of the persons
r-- l.fs been prosecuting the Richmond
l.- .l..ll- system under cover OF Their
-...tl interest ia the Georgia Central
t...... should be applied TO the Georgia
Cara. system itself IL would break up
l.t ..r.ut TIA, system. If such prin-
..- such practice GAG be sustained
.H ..i applied by Federal Judges IN
lr trcts, they would break up ana
-.ft every railroad system II the United
tt a. destroy The value Of every Sc
t lcL depends for its value upon
t--.t-utr Of such railroad systems.
Has necessary. therefore, Tor the
r-ll. iers o. take this step IN order
tt al 'le integrity Of the Richmond
- .a.FlIe system. and gave ITS legiti-
a Hl.rs nom the losses aud spoiia-
must inevitably have followed
f-a-r progress Of this unparalleled
lrf- litigation. IL Is believed on
b.. .- H4t The Richmond and Danville
would az the hearing al Macon TO-
-- -f. teen placed IN the hands OF the
l4rles who have. with the ard OF the
t' 0f tle Eastern District OF Georgia,
04ry seized the Georgia Central,
a.I s.l. not content with this. sOught
t.lze tie Richmond and Danylile,
.-..i ta purpose lad hearing fixed by
'.. $3.50 Judge before him al Macon to-day.
'---e Speer first directed the klcA-
and DaAyille Company TO transfer
TO England aud Savannah Steamship
a} stock 10 trust COMPANY III Ma
'- H4. Having thus got the STOCK
".'- ais jurisdiction he made subse,
rt .rieT directing the Richmond ana
..at .e Company 10 return 10 the Georgia
,'a Company the stock which, under
'-' ..fus a. thee rlgnal loan, was 70 be held
'efll for the sums advanced by the
90 and Danyil.e. The Richmond
CD ttlulle company j. thus left without
ril Tor debt Of $4,000, except as
70 tm Oi sl73.cJ0 tor the Mobile and
'.ia-i exclusion. tor which the nudge Or
ir ile receivers 70 issue their certin-
,e.r' which are a lien Gu nothing ana
We .-.lr yaiurlessn