The Portland daily press., 1893-12-28
r. c. PLATT RECEIVER.
The Courts Take Control of the New York
& New England.

!
| & New England.
Albany, N. Y, December 27.-Mr
Boardman, of the firm of Tracy, Board
man & Platt Of New York city, appeared
today before Judge Wallace of the
United States court. and asked that a
temporary receiver be appointed for the
New York & New England railroad.
Judge Wallace, at his request, appointed
Hon. t. C. Platt, who is one of the di-
rectors of the company, as temporary re-
celyer. In referring to the appointment
of temporary receiver, Judge Wallace
said: s'The papers in the case have been
taken to New York city by Mr.. Board
man. where they will be filed today
with the clerk of the United States Cir
cult Court. The order appointing tenn
porary receiver is to save the property
and prevent disintegration as a result of
attachments upon the rolling stock and
other property of the road. NY order
is roturnable before me in New York
city on January 10, when the question of
appointment of a permanent receiver
will be argued. Bondholders, share
holders and creditors of the company
can be present at that time and will be
heard"
New York, December 27.-President
Mcleod in speaking of sthe appointment
today of Mr.. Platt as receiver of the
New York d New England road. said:
II had no more idea than the man in the
moon that application was to be made
for the appointment of a receiver. There
was no need for such step. The com
pany required only 100000 or $500, 900.
and could have raised that amount. I
pulled the company through before and
| could have done it this time I had not
begun to try. Other people have their
say now. l shall have mine later. The
end is not reached by any means. The
receivership for the New England does
not prevent it's leasing the New York,
New England & Northern. The stock
voted on this lease is by holders of rec
ord of December 10. There may be in
reference with the lease, but it's legality
stands. l vote over 100000 shares in "a.
vor of the lease, which shows that ma
jority of the stock is in my hands,
Thomas G. Platt, who was today ap-
pointed receiver of the New York &
New England railroad, was seen at his
office. He said the af1idavits on
which the application for a receivership
the road and its present insolvent condi-
ton.
At meeting of the New York g. New
England railroad directors today upon
the question of ratifying the lease of the
New York, New England & Northern
railroad, 108, $50 shares were voted in
favor of the lease and 6,9S3 against.
New Haven, Decem Der 27.-JudSe
Townsend of the United States District
court has appointed VIM. T. Hart of Bos-
ton, temporary receiver of the New York
and New England road, upon the same
grounds as those contained in the action
OF Judge Wallace at Albany, Ny, this
morning. This move was made upon ap-
plication of W.K. Loring of Boston, and
Charles G. Perkins of Hartford, who APP
peared for the trustees for the second
mortgage bond holders of the road.
Some New York Troubles.
New York, Decmeber 27.-Hugh J.
Grant was today sworn in as receiver of
the St. Nicholas bank by Justice Truax
Of the Supreme court He had previously
given bond of S250,0o0. His securities
are John ID. Crimmins and JohnH Starin,
Each qualified in half million dollars
Vice Chancellor Green has appointed
Edward W. Ward of Elizabeth, and A.
Oakley Hill of Short Hills, receivers of
the Hoffman house company OF New
York. The order OF the vice chancellor
states that the books of the concern
shall be turned over to the receivers.
Rose and Beck, retail shoe dealers, as
signed today.
Some Advice from Abroad.
London, December 27-The Times in it's
financial article says that it is fortunate
for the proprietors that Atcihson float
ing debt is comparatively moderate and
if an equitable plan for the relief be
proposed, it can easily redischagred by
ten dollar assessment on shares. Nothing
short of such a levy, it says, would be
compelled to make sufficient concessions
in the reorganization in 1889 as fully to
justify them in insisting tnat the cash
should now be provided by the stock
holders. Fear of assessment may, how
ever, in the present case, be somewhat
mitigated by the distribution among the
shares OF proportionate amount of new
bonds, material for which the. company
has at its disposal.
A Result of the New England Trouble.
Philadelphia, December 27.-Samuel
Heilner, trading as Percy, Heilner &
Son, in the coal commission business in
this city, today assigned. Mr.. Heilner
is director of the New York & New
England Railroad Co., and the failure is
directly due to the downfall of that cor
poration. He is large holder of its secur-
tiles. Noistatement of assets and liabil-
tiles has been made. 1t is reported that
Mr.. Heilner lost between $500, 900 and
$325,0o0 in New England. The failure
is important as the firm is one of the old
est in the coal business, being established
in 1856.