The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-17
HENRY WILLARD ARRAIGNED
VIooROrS PROThST AGAINST AN OF
FICIAL ENFORCEMENT OF HIM.

R..s,v.r.h,, an the Co,,nterni Tru.t
rop..uuxv ,.,,,.,r Central, bond.
The developments in Northern faciiio hna',s
prove that the recent declarations OF the OLE
ilcials OF the company that recelvership was
not imminent were made while the pe'''o'i
for receivers and tho answer OF the COMPANY
acauiescinR In the request were actuaiy IN
course Of preparation. The course OF prices
for the securities on the stock EHchahse
shows that advantage was taken ny those ".o
had inside Information OF tn" opportunity
thus afforded them to unload their securities
II not to make further sales for short account.
1t Is believed that this step was contemplate
and prepared for at least two weeks ago anu
tho petition was executed long enough III nu-
vance OF action In this city to enable 'ne pa
pers to be presented simultaneously 10 'uueeS
in some OF the Western States. 49,.
Now that the receivership Is an accompisheu
fact Wall street Is discussing the propaoie ei-
saut,,,,ons 80 ,ho oa,Iatorai trust loan. or the
scrip''ons W .ne eoi'a'e.a, VI us. ..,,ad ond
, mos, a of it naid dG IN D'' ''''' ""' ~
N Th. ren o 40 nor oent ia due Aug. 81
~ ne ie"n ia 10 pS ha,bor tho members of
tn, syndicate will not. contest the demand on
thor, for this balance Mr. James Mcknight.
counsel for the company. said yesterday that
the aubscriptions are still binding and will be
collected. He said also that he did not think
that an Issue OF receivers certihca1es "ou'u
be necessary.
, Im,., .,.,. o.,,,d ha obtained YES
NO oiiieia' s'a'eihei' eo"iu 70 80. ~
terday in regard to the floating deot. not in-
cluded in the collateral trust loan. when Is
stated in the complaint at over s.;voo,ove =,
is known however that part OF ms aeo. wa" s,'
-, -. ~ A. C.r,,r.,, ar I'd thar thew
huhn. Loeo 20. Mr. orom"ei , s", saio -, IN.
p'ssaea ia nSt ANTICIPATED
Thora a 70 ,lroodv rumors that efforts will be
lne,e aie "l'esu -. .u,o,s ho,dors 70 can
road ro and to get rid Of some other burdens i'm.
posed upon the company BY Henry Willard ana
his friends. A Philadelphia stakeholder has
written to the company demanding that suits
be brought against some OF the directors
named for restitution OF moneys alleged , Ito TO
have Reeh MACS nd men Y Is mndsrstood to be-
his Intention to act on his own account should
mn ms unsatisfac to response be sent him
Wien Mr. Henry On B6ard SSd as dree
as Cha,rm Nr+b o rhe pac;r Railroad COMPANY
tha Hoard caused a euogy OF Mr.. Willard to DO
spread on its minutes and directed that COPIES
holders. COPY was accordingly sent to Mr..
Brayton Ives. who was Il membe OF the inSes-
tipatinC committee appointed by the stock
holders at their last annual meeting and who
Joined in the report Of the committee. and was
infringement OF the Northern Pacific Railroad
Company contained therein, tpSn 'he fsce ~
dressed letter 70 me manaeenehhi; "T ~ r no
was induced YESTERDAY 10 iiiahe puuiiu. ~ mae
To ne Ba,dv b"e0"' " '"e ''''"e'" ''''' ''''
D ,sAR" SiRs: I beg to acknowledge the re-
c ep VI ' mantinU ri lime 81 stating your ac-
t 81 y9} IN connection with the resignation Of Mr.
Henry Willard as thadaah I iite sar-
AT hrst slGmIh ~ Ne ViIard and the stock.
baIders who have suffered so severely under
his ion Dmt a a iStape TO- be
ing sdET to him and that he is Justified there.
lore: ~ e., exG y wnnii be dificuit to imagine
irenas IN. timed' misleading and injudicious
paper than thls Es ~ the varinus compnnies
time wneh VIC st mnnn~a% Nv Mr. Willard were
seiins at prices Which serious and in
nd ID thep r"ss IN
stTekh He Sas BEEN Presdent Of the following
companies ,.,,o co
Oregon Railway and Navigation company sp4 600 600
Oregon improvement tre NEW ' t;snsrat Eectricj
cspta - ;; 100000
Ss.s aa no~
Northern raethe...''' '',''''''''''',
The depreciation, on these stocks from the
Willard Looms were in force to those now
ouotnd is in round numbers:
Icon railway and Navigation Company $4,000 900
OREGON oregon Improtement 5ooyooo
Eas"n Eirctic "........................ 25ooo.00o
North Ansriean s90 09SVo
Northern facihc ''.'.''''''''''''''''''''. oooooo
ro,,, $3.50 900 900
io," T.. ;,a,i,o 80 NJ vuI, I'd
1t should he SAID IN 1ustleS 10 WI Wharf, ,r
that he has not been connected Win me man M
agemont OF the oregon COMPANIES slnte no
got them into financial dlienitie i,h a3 S Ten
years ago. and that his relations with me Elee.
tric COMPANY tsnatee a 'l al of these com
panies are suffering from the lmheren. ueie Se
Of his plans AT thelr oreahizatioh, hhd ,na a.
their present managers nave peen uhap'e ~
make them successful ,o, NOT sohoue and
the one on which he 6ssea ms m9pe So q Po c1h
trolling all Of the NORTHWEST anu inc dmct,c
coast was the OriG"n ana hnd
Originally the outcome OF me h3totious pi hnt
pool" it started on as dlylue M payer Duu
soon iEnominously collapsed, The company a niy
was transmitted about three years Ago INTO
the North American; ana ar; Naiiard ny mf
that time promised dividends IN printed
circular Beguiled ny MS ailurlht l0Fe-
cast. many bought tne STOCK ut MY
and above. but WITHIN the year me concern
collapsed again ana me price Iell 70 ~ 4
fewweeks aGo. when II became SHOWN tnrougii
the press that movement was on loot 10 eau
,ahu n M IL,