The morning call., 1893-11-02
ROAD.
1t Is Placed in the Hands
of a Receiver.
SURPRISE TO OAKLANDERS.
Suicide of a Stranger at Fruitvale.
Expected $4,000, Got but ST..
Eibes Will Not Harry.

Oaklanders were treated to genuine
surprise yesterday when the rumor was
spread about the streets that the pig con-
Germ known as the Piedmont Cable Com
pany was in the hands of receiver.
The rumor proved only roo true. for at
about II o'clock a bulky document was
filed with the County Clerk reclting the
main facts.
Yesterday was the date for the pay
ment of the semi.annual interest on the
81. 100000 bonds outstanding against the
con. pany and the payment could not be
made. Accordingly. meeting of the di-
rectors was held and the following resoiu-
tion was H. troduced and passed:
Resolved, That this CORPORATION Is lnS0lvent,
and In view OF such insolvency and It's inability
TO pay the interest upon lis bonded Indebted
ness, the California Title Insurance ana trust
Company be requested 10 take sucn immediate
steps as may be necessary and proper for the
protection OF tie bOndhoders OF the corpora
zion under the deed of trust MADE 10 the Call
fornia Title Insurance and Trust Company OF
date OF May 5, 1890. for the protection OF the
editors OF this corporation.
a suit 10 foreclose was instituted by the
California Title Insurance and Trust
Company according to the request IN the
resolution above quoted, and Judge Og-
den was asked to appoint receiver to take
charge of the property of the company
Ira Bishop, one of the directors Of the
company. was appointed. with bonds fixed
It $25, ZOO.
Mr.. Bishop is the principal stakeholder
in the San Francisco Tool Company,
hich company built the major part OF the
extension line of the railroad company,
and the stockholders In the tool company
are also large holders Of the railroad
stock S. G. Bigelow and s. II. Meyers are
Mr.. Bishops sureties.
While proceedings were going on look
ing to the apl ointment of receiver the
Oregon Improvement Company served an
attachment on the railroad company for
SlS,1S6. This attachment suit was COM
menced on October 4, but was postponed
with the expectation of settlement, and
he matter was only pushed yesterday
when the Improvement company got vino
Of the receivership proceedings.
With this writ OF attachment In his pos
session the Sheriff proceeded to the cable
house of the company, where he put
Deputy Sheriffs Hollywood and Murphy
in possession. The operation of the road
was not Interfered with in any manner.
The principal points IN he document
filed by the California Title Insurance and
Trust Company are as follows:
On MAY 5. 1890. the Piedmont Gable Com
pauy eXecu ed mortgage to the trust
corr pany for 81, 100000 The bonds of the
road we're 1000 in number of the value Of
$1,000 each with interest at 6 per cent,
payable on May l and Novem Der l. The
bonds were TO run thirty years
To secure these bonds first mortgage
was given to the plaintiff. the trust CON-
papy, as trustee, this mortgage covering
all the property of the company. 1t was
agreed that if in Dterest should 60 IN default
six months tie trustee should be entitled
TO take possession OF the property and
operate the road.
1t IS further set forth that 992 of the 1000
bonds were sold and issued; that on Oc-
tober 81, 1899, the directors Of the COM
pany acknowledged It's insolvency: that
the debt amounts to S992. 900; that the
same has not been paid; that the property
can best be operated as a whole; that the
plaintiff has been requested by holders of
more than half the bonds to fOreclose the
| mortgage; that the sum OF $4,000 Is
easonabie fee for foreclosing, etc. There
fore the plaintiff pravs for foreclosure and
sale by Sheriff, and that pending the action
a receiver be appointed.
The trust company's attorneys are
Page, Eels & Wheeler, and Chickering,
Thomas & Gregory.
The Piedmont Cable Company was in
corporated on April 19. 1890, with seven
directors, as follows: Phoebe A. Blair, E.
A. Heron, Wilson B. Morse, Montgomery
Howe, Samuel Howe. Daniel Meyer and
Ira Bishop The capital stock was 81, ,000,-
900, divided into 10000 shares OF the value
Of 500 each. The amount OF stock SUBJ
scribed at the time of incorporation was
Sl7, ,O00 or $1,000 for each mile of road con-
tempIated.
The parties subscribing at that time were
as fol ows: Phoebe A. Blair. $500; Mont
gumery Howe, S2500; Samuel Howe. $500;
H. al Iro RJsh
A. Heron. $500, and Wilson B. Morse,
S2500.
When first started the company did not
include the Fourteenth-street line. but In
1892 the corporation was reorganiZed and
the latter system was purchased. the COM
pany again starting out with S2,0000O0 OF
stock and S1,000000 Of bonds, S992.0OO OF
the latter being sold.
When Mr.. Heron, the president of the
road. was seen yesterday he stated that
the appointment of receiver for the road
would in no wise interfere with the run-
ming of the road.
Secretary Garthwaite, who is also super
| intendent of the road. said that there was
very little floating debt and that all the
grlpmen, conductors and others in the en-
ploy of the company had been paid up to
Yesterday. "They will not lose dollar"
he said.
a Stranger Swallows strychnine.
At o'clock last evening a stranger stood
on the rear platform of car OF the Laun-
dry Farm train, standing at Frultvale,
poured something into tin cup. entered
the car and a few moments after was
seized with spasms and died. His body
was turned over to the Coroner. AT the
rear Of the train was found phial that
had contained strychnine. The deceased
was blonde, about 35 years Of age, about
feet inches In height. On his person
was found Santa Cruz poiltax receipt in
the name Of C. Schlipp and paper on
which is written:
michael Gabriel anel Raphael Albonav
E!oim Zevavth Dana Gealla Di Sefeiela
Gottei y SIS GGG Gluk e Engel aNE
K q NJ Album Z Miam ! Smetine Snulntus
n Eg 5 n A u A N E r = =
| NXaI RxxIN RI"
On an almanac also found on bis person
was written: "My time has nearly come.
l am going through the dark valley OF the
dead"
VIII Not Marry the Girl.
| Young William Eibes. who a short time
since gave his parents SO much trouble be-