The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-12-29
NEW ENGLAND'S TROUBLES.
ROLLING sToCK or THE ROAD TIED
UP BIZ AN ARA CHMENI.


fore the Various Holders OF Securites.
Providence. Dec. 8--Thero was no appoint
ment Of a receiver for the New York and New
England this afternoon. w. X. LorinR OF
Boston. representing those who want W. T.
Hart appointed. appeared before Judge Colt
OF the lnited states Circuit Court at o'clock
aud asked to he heard. The Judge said that
he understood that representative OF the
Plat faction was on his way. and consequently
he would take recess till Mr.. Strout repre-
senting that side. arrived.
HARTFORD Dec. 2S-property Of the New
York and New England Railroad Company was
attached here last night in suit for s3oO.OOO
brought by tho receiver Of the Philadelphia.
Heading and New England Railroad for money
lent. II lie considered doubtful. however
whether the attachments will hold.
Judge Townsend's order appointing w. T.
Hart Of Boston receiver Of the New En- gland
road for Connecticut was Issued in New Haven
Mt x 80 T. NJ. and after that hour attachments
could not be legally made on the property OF
the road but the official notice OF the appoint
ment was lot received by any railroad official
or the Sheriff until this morning.
Sheriff Preston stopped attaching at 0 o clock
this morning being satisfied that his claim is
covered. There arc In charge OF the keepers
altogether 81 engines and about 800 freight
cars. Railroad men claim that property worth
S4Uu.OOO has been attached.
Arthur Perkins OF Perkins Perkins. coun-
sci for Receiver Hart, served the reccivership
papers on Division Superintendent lutgg this
morning and then demanded Of sheriff Pres res
ton possession OF the property attached. The
sheriff declined 70 Yield possession.
NV HAVEN. Dec. ~ "A, {, Perkins OF Hart,
the New England road in this state, appeared
before Judge Townsend in the nltcd states
District Court this afternoon and asked that
the attachment placed on the compnny's prop
erty at Hartford by the lhiladolpha Reading
represented that the rolling stock OF tho road
is tied IN and the general traffic seriously in
,eriered with. Ilo stated that the attachment
had been placed with knowledge and notice
that the application for q receiver was pend
Ing. After hearing the application. Judge
Townsend issued an order sunmoning the
Sheriff to appear before him to. morrow after
noon and show cause why he should not he
In speaking OF the present situation Presi-
dent Clark OF the New York. New Haven and
Hartford nSa Company said; nj, mad. v
money on its through freight. It may be safely
said that It has not made anything above the
dened by some very Improbable leases. mo-
tally the Nlerdvn, Waterbury and Cromwell.
able to revive the company. II seems to be
Guite likely that the mortgage bondholders
will renrganize the road strip, it Of some of its
Improbable leases clean up the property and
run it. There may hon margin Of equity for
the preferred stockh olders and small amount
represents litigation. The New Haven road
holds 100000 Of the second mortgage honds
that were taken when the road was laced in
the hands OF u receiver ten years ago"
The rapers submitted to Judge Wallace at
Albany on the application for the appointment
OF II receiver for the New YORK ard New ing
land railroad were filed in the office OF Clerk
this city yesterday afternoon. They consisted
OF anidavits Of Thomas {; Plntt. i. A.. Prince,
Grant u. schley. and bill Of complaint by
Theodore +. Wood. who says that he owns six
OF the first mortgage bonds and 100 shares OF
the common stock Of the COMPANY.
The COMPLAINT charges fraud on the part OF
the present management. and that the com
pany has been used to further schemes for the
private advantage of certain Of its directors.
Com missioner is given IN full, and il is charged
that the assets are less valuable than is shown
The excess OF the latter over assets is estimate
ed at Sl,5OO,OOO and the complninan AYERS
past three years. He says that the accounts
were deliberately fnlsihed to show diyi-
by frsuduiently reducing the amounts due
connecting roads In 1851 lie says that rart
OF the onerating EXPENSES was charged In ,he
been allowed TO deteriorate. Illegal issues Of
stock are also charged. and that interest on
for the purpose. Creditors ARE said to be
pressing the company Tor payment; and til.
January interest payments. amounting to
Filed with the complaint nre the aflldavits
Platt and I. H. FRINGE. TO the effect that tho ap-
pointment OF n receiver IL necessary. These
HllidaNits show that the United states tx
press Company holds 5000 shares OF the com
mon stock. md the firm OF Moore Schley
10000. I. II, Prince 4 20. hold 800 shares
OF preferred stock, $1,000 second mortgage
bonds. and 100000 OF the Terminal per
iieceIver Thomas C. Platt has lled his bond
for 500 900 on which the securities are Calvin
s. Brice and II. O. Armour
President Mcleod secured the ratification OF
the lease Il the New York, New England and
Northern ut yesterdays adjourned meeting.
when the polls closed.
IL is well understood. Of course that the lease
is imperative as long rs the road IL in the
hands OF "a receiver. unless tho court orders
its fulhlment, ana this is not regarded as u
remote possibility.
ON "Wednesday only los 100 shares had been
day some OF the stockholders who have been
active in the NOW for u roccNership mag
unanimously sent him proxies on their stock
and thus increased the affirmative vote to
13i, O4U shares considerably over the required
amount. The negative vote was N!'St shares
OF the New York and New England Railroad
Company says that unless tho Hartford at
tachment on behalf Of the Central New Eng
land and Western Hallway Company Is res
moved. he will lay of every man in the com
pany,s employ excepting those required TO
run the mail and passenger trains. The at
tAchment is for money due for tratfic account.
This attachment disturhs the company more
than the appointment OF n receiver. Already,
on its own account. the big repair shops at
Norwood have been closed down, throwing a
large number OF men out Of employment All
the frsight men along the line are Idle and
laid on without pay.