The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-06-06
THE RECEIVER WAS SET ASIDE.
The Norfolk and Western is no
Longer Menaced.
Judge William j. Robertson Makeo a
Flying Trip to PArkersburg and Sc
cures Kevisal of Judge Jackson's
Action-S42 900 Paid Into Court-No
Further Trouble Anticipated-What a
New York Paper Has TO Say.

Judge William ). Robertson, oil
Charlottesville, passed through Roam.
oke Sunday on his way to Parkersburg,
w. Va. via Kenova. He was carried
on special" in order to reach Parkers
burg yesterday morning to move in
Judge Jackson's court for the removal
Of the receiver appointed by him in the
matter of the suit brought by the
assignee Of the failing contractors,
Thompson Bros, against the Norfolk
and Western Railroad Company. That he
was successful is borne out in the follow.
ing telegram:
PARKEnsBuRe, W. Va, June Sin the sui,
by Hopkins, assignee of Thompson Bros, va
United States circuit court at Charleston w. VS..
Judge Jackson this morning set aside and an.
eqs Uraer GJ Friday June snd appointing
efn Railroad Company and the receiver was dis.
charged.
s. In the order discharging the temper.
9ary receiver and dissolving the temper.
are injunction, Judge Jackson says the
sum of S42 900, for which the assignee of
Thompson Brothers brought suit against
the railroad, has been rendered to the
court and deposited in the Citizens Ma.
tional Bank of Parkersburg to the credit
Of the court.
This settles legal technicalitv
which has already caused loss to stock
holders OF the Norfolk and Western in
the depreciation of their securities of
many times the petty amount involved
in the suit OF Thompson Bros. The
statement that temporary receiver had
been appointed was heralded abroad
without careful examination of the
facts and though the explanation and
denial were swift, the stock market had
been affected.
In relation to the subject of the new
Norfolk and Western loan which was
announced last week, and the general
condition OF the road, the Daily Stock.
holder, OF New York, says:
1.-The circular now published states
that the offer is made Of the securities
mentioned to meet these obligations
and those incurred in properly com.
pleting the Ohio extension and the
Columbus terminals, to provide for the
cash payments due on car trust obliga-
tions and new rolling stock and for
working capital
THE fact is the Norfolk and Western
is trying to turn difficult corner lust
now, and 1t must be accepted as unfor-
tunate for the company that unneces-
sary obstacles are thrown in its way. 1t
has record OF remarkable growth in
traffic, although at this time it seems to
initiate against it that it has thrown It's
extensions out too rapidly. This fact
has been recognized, for a halt was
called more than year ago, no new
work being undertaken during 1892 ex-
cept the progress towards completion OF
that already in hand. That the new
lines, as in most cases. were not as pro.
ductive as the old, and that they re-
CURED support, is clearly shown in the
official statement of mileage and earn.
ings for the past Ave years.
New lines rarely pay at first, hence
the need for support, even for indul.
gerce, OF the companies fathering them,
II thes can prove that in a reasonable
time their prospects are fair of being
able to take care OF themselves. Per.
haps no better index to the uture of the
Norfolk and Westerns ventures can be
given than the very satisfactory show.
ing made by local earnings. Both as tc
passengers and freight these evidence
the existence of many centres upon It's
lines from whence it's traffic is drawn,
and not that it arises at the ends solely.
Year End. Pass Earnings Freight Earnings
Dec. 81. Local. Through. Local. Through
isSS...... SI5i,s3 S106,975 $2,910,563 ssiO,6Os
lSS,...... 802,,sS 1897 1880 20 I026, 80;
lss0...... 1,436010 lT6,259 4,lal.a66 Lille!
ISL ..... l,ti5,0S9 174,5ot $3.50 323 l3S9, SsII
iS'a.... 1,7o7,s9d 1883 G,ssl,isS i,303,Ot.