New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-06
RAILROAD INTERESTS.
TIFF READING SYSTEM BREAKING UP.

ONE OF THE POUGIIKEEPSIE BRlDOE hoNo"
DroppEp-REcEIvER's CERTIFICATES
RECOMMENDED.
Philadelphia. July 5.-Thc petition OF the '''"''1
Railroad receivers for permission TO di'soi'' '"''
agreement with the Pennsylvania. Poughke'p>'' ".'
Boston Railroad granted by Judge DAMS III Wv
United States Circuit curt today. the dIss iu''o !"
fake Mace at the end OF the present month"; M
Dickson stated that the Pennsylvania, POushKe'p'"
and Eostou Railroad /, operated By the Heading u'
agreement with Henry H. kingston the r'''N''
appointcd by the United states District court III
N.w.Jersey The agreement Of the receiver Win lhc
Reading was entered into with III" SANCTION VI NV
court Under the agreement the Reading pays All
opcrotlng expenses and Interest on the r'ceN'i'
co,,iGcatcs. and takes all the earnings. The pro
viso l. made that II The arrangement became uhduiS
burdcnsomc the Reading can BE- released upon th'rl
days notice.
THE receivers Including President Harris. stated
Mr. Dickson. have investigated the matter 'horo"s"P
and find that they are not able to operate 1t, ana
they have come to the conclusion tndt thcy nave "o
right f. carry the agreement, a. 1t cannot be- do'
without injury They therefore gave notice to Mr.
Kinoston ON Junc 80 that they intended to wit"r""
on Tuly 81 thus giving NOR" than the required tmrH
DAYS notice. and they accordingly ask Tor authority
10 withdraw
Mr. Lewis, representing Receiver kingston maze
no oppo,Iiion to the ,p-tion. and stated That 'Ae
agreed that the motion be heard here. Mr. DICKSON
,upp ,,d thai reference to mn, would be hcc'S
.arv but after Judge Dallas had heard Ny. LOWS ~
stated that reference not nee ssary, ana that NJ
would make the order
In. PENNSYLVANIA. Poughkc"p,ic and Boston Rail
road Company form, integral part Of tn" po"eh-
kc. p- Bridge .Jstcm. 1t originally the siatlne
TIM and New England Railroad Company. Its chpini
stock Is S2.0C0,0o0.
George L. Crawford master In the Phila1clpha
and Reading Railroad rec-iverSlhp. to-day hed
report I'm the United states Circuit court laNorlhS
the granting of receivers certificates 10 tic 'A'"'
If s37i2ods The matter cumc mp before Judge
Dallas, and it was arranged that counsel should "
heard tomorrow upon any objection that may be
,;I.cd to the confirmation Of the rep ri. Master
Crawford closes his report 10 the Court rs i""o"''
find that the present receives upon ul'ir aP
polnincmt came into possession OF large anh"u"'
=, ,,.t,rl,l. and ,upuli,, Thy have other
m,aa, for III" immediate payment II the cIanh' III
question for the payment Of vbl'h receivers Ger
t.c,,r, III. now asked To- b. ISSUED, except lY u''
I'LL. III total amount OF IA. coal ana coal "c
r.unf 81 TIVE Coal ard Iron Company i ABOUT ELL
/ 5.c.U,o. In about equal pr"rTtonN' WIZ y"
,lcdr.d for about sc.r-O OOO viii ahJHt sj6S.oH,
lin due To the LcAiga Valley Coal Company. ana
onout - 113c0O t. other ycndcI~. account o.
the Iur, hi>c thereof. Thee coal and coal a'c"'h'
,.o pledged to .hc Philadelphia Fmancr company
under a written continuing coma ic with It,. under
which the coal /, a continuing Hen for advances
mad. from dine e. time" with the actual lrHs = Z"
"A rae, coal yard. thu, placing the 'oI ~ Inc P''
zeal lp.,,,,ion Of thr Finance Company ana 'o"'
, a. j. H., that OF it, agent. IA" Philadelphia Ware
loti.e Company. The receiver, are nn'rI" I" III
m,,i,,e.y borrow more these account III W.
pr, sent state 81 the market and under th' '"'""
.,,pc.. surrounding tie coal and coal accounts
and ,lihouct the receivers direct the sal oi IA"
.oa and a.,. doing ali thcy can TO fore sales 81 IT,
without sacrifice. snd reduced their aioc" III MAY
- 10000 jon.. owing To tlr dull Hh'-, tH,!
arc not nov reducing II. bat are II increasing u.
IN. Coil and hon ComIan; no" Ahhu'', hD Dr
l. o'p c.t tons ~ coal pr year, ana H", III SON
nbaf l.-.o,oU nu" months sip Is. "Hrh j. a.""'
H. l,v 49, th,S b.ia- II 10 caro- on 'n' pH''"''
prol-rl, Ihr} have {" min" aN ~, WEe",,'
ana at Glne.,nt periods Of IN" YEAR u'"rt'nt a.,
| ar, umuni. 1h"y have coal stored at Pcrth Ali
Low Port Klein. nd. -outh i'aini'!G, buh'lo. N.'
r,eo NtwaI.cc and other place. IN oT7i'r 10
ma, coal =, Ill next winter In N"w EnShId IN y
Inv. 20 PM coal there and hold n In 'l'c" h'cau>
.it.r U,crmh,r th,y cannot move it, ana The same
r. runrt p,,., Ia Chlcngo and Milv iuk"r ana "ihr
Nnr,nvc.i,lu point. a." coal rpui Ef T. b. more"
/ la u1Nleutl ~ a. "A matter ~ iT0ll.