Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-12-28
A RECgIVER APPOINTED


Tore Judge Wallace, In the United
States Court. BE asked that tenn
porary receiver be appointed for the
New York and New England railroad.
Judge Wallace at this request appoint
ed Hon. T. C. Patt, one Of the directors
90 the company, as temporary receiver.
The receiverShip application was de-
cided upon at conference last night
between Directors Platt and Prince, Of
the road, and their attorneys. One OF
the directors OF the company said to-
Gay: "There viii be q lively hight II
President Mcleod does not put up the
money needed % discharge the January
interest Both sides are prepared for
almost any emergency and 10 such an
event it will simply be question as 20
who gets there first.
''It all depends on Mr.. Mcleod. IL
he raises the interest money there viii
be no receivership Ii be does not pro-
cure the money there will be one.
''lhe putting OF the money depends
also on the holding OF the controlling
interest 10 the stock. IN the Mcleod
party has the money it will not put 10
up unless 10 finds itself in control of the
stock. That Mr.. Mcleod feels uncer-
tain in regard 20 his stand is shown 0Y
the desperate efforts which he made
yesterday 90 secure proxies to be voted
az the stockholders meeting. The whole
trouble with the New England is t1SJlor
the past five or six years 10 hns had no
working capital The President has
always had 10 provide for al detclen-
}eieS. Mr. Bostwick aud Mr.. Parsons
have eachen turn had Co DO &c, and now
Mr.. Mcleod is getting taste OF the
same medicine.
Thomas G. PIatt when seen at his or
fee said the affidavit upon which the
application for q receiver was based set
forth the m.smauagement Of the road
and its present ius0lvent condition.
The order 10 show cause why receiver
should not be appointed was rsturna6.e
January 10.
This move, said Mr.. Platt, ''shOuld
not &c regarded as an uGfriendly one.
It was deemed advisable to conserve
and protect the interests Of the road,
its bonds and stockholders andereditors.
The road was iu such q condition that
the protection OF the courts bad
20 be invoked. The application,
Of course, VIII come in the nature Of a
surprise 90 the officials of the road, al
though they should have known that ia
its present condition an application for
q receiver was perfectly natural"
Mr.. Mcleod, however, when seen
was very Indignant. When Informed
OF the appointment, he said that If he
had known that receiver was 20 be APP
pointed for that no such thing would
have taken place.
"It IS very uDfriendly to me, but
will not say anything about 10 until
] see the paDors in the case"
At the opening OF The stockholders
meeting to-day, Mr. Mcleod made
statement 20 those present.
After he had finished, the voting for
the raJihcatiOu or the disappr0val OF the
leasing OF the New York, New England
and Northern Railroad 10 the New YORK
and New England Company was begun.
One hundred and eighteen thousand
shares will be necessary TO ratify but
up TO 1880 o'clock only 100000 were rep
resented. Mr.. Mcleod then announced
that the ballot box would be open I'LL 4
o'clock, and the meeting adjourned IN
diTthat b0ur,
Judge Wallace said that order which
he made appointing q temporary re-
ceiver for the New York and New Eng
land was granted pending the applca-
tiOn for a permanent receiver. 10 was
done 20 save the property and prevent
disintegration as a result of attachments
upon the rolling stock and other pro-
perry Of the railroad.
Judge Wallace also says that the or
So ~ofu~ro NIa hafrrn him, I'm Naur
York January 10. when the question of
the appointment OF permanent re-
ceiver win be argued. The bOndhOld-
ers. shareholders and creditors Of the
company can be present at the time and
will be heard.
PRESIDENT N'LEOD's STATEMENT.
NEW YORK, December 27.-President
Mcleod TO his statement 20 the stock
holders at the special meeting reviewed
his administration of the roads affairs
since his election 90 the presidency in
March last. he says that be has be-
come convinced that the road eau only
be enabled 20 earn dividends by secur-
ing 60 10 admission Co New York City,
and be advocates the leasing OF the
New York, New England aud Northern
rs the only feasible means of attaining
that object I'm addition he makes
personal statement defending his acts,
and advances arguments 20 snow that
he has been consistently watchfUl of
the interests Of tie company, and has
lab0red always for the good Of the
property.
To a reporter Dir. Mcleod said he
thought the vote TODAY in favor OF the
ratification Of the lease would just fall
short of the requisite majority Of the
committee on stock. The number Of
votes required 90 ratify the lease was
$4,000 Mr.. Mcleod said he thought
more than 100, 900 votes had been cast
in approval aud he should adjourn the
meeting for a few days because be
thought there were some votes that
could be secured is an adjournment was
taken.
The New England Company going
into the hands of q receiver does not
affect Reading, Mr.. McLeod's connec-
tion with the latter having ceased when
he removed from che receivership some
time since. The stockholders meeting
which was held to-day at the Office of
the New York and New England rail-
road was adjourned ca o'clock this af-
ternOOn until tomorrow &C p. no. O0e
hundred aud eight thousand seven hun
dred and fifty shares had been voted ia
favor OF the ratification Of the lease of
the New York and New England aud
Northern railway, and 10 was decided
20 adjourn until tomorrow aud 70 keep
the polls open 10 order % get the re-
naming $3.50 votes necessary.
THIS COaPANY'S STATEMENT.