San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1892-06-13
MACNAMARA's PETITION.
Wants an investigations OF the Af-
Fairs OF the Railway.

Saturday last Receiver ]. 8. Mac
namary, of the ), A. & A. P. railway,
filed petition in gidge King's court
praying an investigation on his part
of tho affairs of the company. 1t
reads as follows:
First - That on or about the lst
day at October A. d. 1888, tho de-
fendaat, the San Antonio & Arsnsas
Pass Railway company, made its
mortgage upon the property OF said
company described in the interven-
tiou OF the Central Trust company to
secure the payment OF bonds OF said
company to the amount of four mil.
lion nine hundred and twenty seven
dollars ga 927 ,0G0); that this receiver
Is reliably informed and believes that
on OF about the uth day of December
A. D. 1888, the said San Antonio &
Arkansas Pass railway company made
and entered into q certain agreement
with one NJ Remedy whereby
and wherein the. said NJ. Kennedy
ag eed to pay all the unsecured in
debtedness Of said railroad company,
as we'll as certain obligations for
equipment issued by said company
existing prior to the first day of jan
uary, A. D., 1889. in consideration of
which the said defendant railway
company acting through U. Lott,
presidents thereof, agreed aud obli-
gated itself to transfer and assign to
said Kennedy S.. 664 900 of the bonds of
said company herein before referred
TO, known as second mortg age income
bonds, being $1,000 per mile on ass
miles of completed road.
Second.-That the said M. Kennedy
did not pay said Indebtedness as
aforesaid and that the same is now
claimed as q valid charge against
| railway company prior to that of the
mortgage bonds of said company
represented by the several trust COM
panies, intervenors herein, and
large proportion thereof is now held
or claimed to be held by the reorgan.
| iZation committee of said railway
company intervenor herein, who is
| seeking to assert the same as claim
against said company prior to the
mortgages as aforesaid.
Third-That said L. Lott president
| of the said San Antonio and Arkansas
Pass railway company was, so this
| receiver is In formed and believes, in
terested with the said NJ. Kennedy in
his construction contracts with said
railway company as we'll as in the
contract wherein and whereby the
said M. Remedy agreed to pay the
said Indebtedness aforesaid in con.
sideratiou of So q bonds aud this re
ceiver is reliably informed and believes
that said $S,664, 900 of second mort
gage income bonds, were issued by
said U. Lott, president of said San
Antonio and Arkansas Pass railway
company, to said U. Lott agent and
attorney In fact of the said M Ken.
edy, and negotiated by him through
the said Central Trust company.
Fourth this receiver is relia-
bly, informed and believes that there
was no considera ton passing to said
railway company for the insurance of
said So, 1854, 900 Of second mortgage
bonds, and IL there was q considera.
ton for their issuance the same has
failed by reason of the failure of the
said M Kennedy 10 pay the indebted
ness aforesaid of said company prior
to the first day of January, A. ID
1882, as he had promised and obliga
ted himself to do; that the said de-
PENDANT, the San Antonio & Arkansas
Pass Railway company, so this recei-
yer is informed and believes, has not
received any portion of the monies for
which said bonds were sold and DO
benefit there OF, and ii they were sold
this receiver IL Informed and believes
that the said u. Lott has not accoun-
ted to said railroad company TOR the
same, but has appropriated it to his
own use and benefit or to the use and
benefit of the said M. Kennedy.
Fifth That this receiver Is reliably
Informed and believes that the said
NJ Kennedy through the said U. Lott
and said reorganization committee is
now asserting claim against said
San Antonio & Arkansas Pass Railway
com pany, the exact amount OF which
he has not been able to ascertain but
is reliably informed and believes ag-
gregates about three million nine
hundred thousand dollars So 900 000)
which is yet unadjudlcsted by the
master.
Sixth-Tbis receiver further states
that he is reliably Informed and be-
lieves that his co-receiver b. f.
Yoakum has been tor long time
well acquainted with said facts and
has purposely failed to inform this
receiver or the court thereof and this
receiver further says that he is re-
liably informed and believes that the
said b. F. Yoakum was the holder
and the owner at the time of this re-
ownership, of large amount of said
second mortgage income bonds.
Seventh-That this receiver verify
believes that the minutes, books and
papers CT the San Antonio & Arkansas
Pass railway company Will lurnish
ample evidence of the matters herein
hafora al lenad and with the YiAW of