The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-12-28
A MOVE TO DOWN M.LEop.


AIRsSy, \. V. Dec. 27.-Boardman. of
the law firm of Tracy, Boardman 4 Plat,
appeared before Judge Wallace. of the
United States court. this morning and
asked that a temporary receiver be APP
pointed Tor the New York q New England
railroad. The court granted the request
and appointed Hon. T. {. Patt. one of the
directors of the road. Ii Is understood
that he is of the party opposed to Presi-
dent Mcleod, who is also president and
receiver of the Reading road. 1t is sup
posed that he is seeking similar action with
reference to the New England road and
that IN the appointment of Piatt he Was
outwitted. Frederick III. Prince. of Bos-
ton. is among the leading spirits IN oppo-
siiion 10 Mcleod.
The application for a receiver was based
on mismanagement OF the road and its in
solvency. The order 10 show cause why a
permanent receiver should not be ap-
pointed was made returnable January 10.
The move does not affect the Reading
road. McLeod's connection with the latter
having ceased when he was removed from
the receivership of the Reading some time
ago
NEW York. Dec. 2T.--The temporary re-
ownership TOR the New York & New
England Was decided on last night. One
of the directors said:
There will be lively ight IL Mcleod
does not pat up the money for the January
interest Both sides are prepared for al
most any emergency, and in such event il
- simply question of who gets there
first IT Mcleod raises the interest
money, there will be no receivership. If
not shere Will be. His action Nil depend
on the control of the stock. The Mcleod
party will not put up the money unless il
can control the road. Whether or not he
can do so - an omen question. The trouble
with the New England road for the past
five or six years has been that il had no
working capital The president always
, has had 10 provide tor ali deficiencies"
Receiver rlatt SAID the move was not
[ nniriendiy. bat merely taken 70 conserve
the Interests Of the security holders and
creditors. OF course the actioa was q sur
prise 10 the officers o. the road
Mcleod, when seen, expressed great in
dlgnasion a, the move and declared that If
he had known OF il IL should not have
taken place. He declared that il vas very
unfrieudy % him, but declined 70 talk
/ further till he had seen the papers fled
The stockholders Of the New York &
Z New England road met hero today. Al
/ the opening Of the meeting President Nc
/ Leod made 4 statement. Then voting for
I the ratification or diSapprovai OF the pr ,p-
osIsion TO lease the New York. New En-
gland 4 Northern 20 the New York 4 New
/ England Nas begun. lis 400 shares being
( necessary "a ratItv, III 10 80 on.y lea.
! 90 we're presented and IL was decided 10
keep the ballot box open till =, m, 10
/ which tine che meeting vas adjourned.
/ Al that hoQr los 80 shares had been voted
! in favor &C ratification and IL was decided
/ 10 adjourn until { O'Clock tomorrow and
/ try 20 get she remaining g. 80 votes neees-
( Sary.
II : said tAAt The decision 10 aprIy for a
receiver - A. reached ~ conference held
1as; night, a; which Thomas {. P,att. +.
/ II. rgigce, A. T. Boar3mau. Frank IL.
Fiaii snd some capitalists interested IN The
securities Of the companies were present
+ one ~ ghe capitalists who attended the
conference said Il VAS really n litile meet
iog 90 commitses appointed some tiue
J aso g rs4se the money req Iirei 70 pay tic
/ inteves, due January /. Ts0 hundred
( thousand collars Nas required for that
/ purpose, and the committee had been un-
! Sese 10 secure IL Responses 20 the App!i-
! eat.on OF tie committee had been very
/ s.os ap3, under tho circumstances. u was
/ necessary fhAt application b. made for a
. receiver. Il ga not follow. however tha,
Z the application Wor.s - ln.natcsg 20 the
( interests represented oy Mcleod, although
u VAS not believed HAT Mcleod noW he'd
any more STOCK shan RAs necessary 20
+ aaa.aiy alm A. director AMI president Of
E tae company.
1 AZ tie meeting Of .iScahS.asEs MeLsel