The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-25
From Sundays Second Edition.)
Receiver for the Snnta Fe.

LITTLE ROCK. Ark, Dec 23-The ex-
pected in the railroad world happened to-
day. The Atchison, Topeka & Santa Fe
and St. Louis & San Francisco railroads
and branches. comprising the Santa Fe
system proper, have been placed in the
made by United States Circuit Judge Il. G..
Caldwell in chambers in this city at $50
o, clock this evening The application was
New York, trustees for the bondholders of
the Atchison, Topeka & Santa Fe. and the
Mercantile Trust Company of New York,
trsstees for the bondholders of the ST.
Louis & San Francisco
Although the press of the country has
anticipated the result for some time, not
action contemplated. The first intimatlon
of decisive action was received at o'clock
this afternoon, when a special train ar
rived over the Iron Mountain, with prom
inent railway attorneys and officials on
board. who FASTENED TO the federal court
States Circuit Judge IL. c. Caldwell, who
had arrived from St Louis the day be-
fore. The party included George f. Shar-
rett. clerk of the United States circuit
of Kansas; George r. Peck, general So
ncitor OF the Atchison- Topeka az Santa
Fe; f. ID. kenna, general solicitor of the
st. Louis & San Francisco; II. l.. Nor
rill, general manager and second vice pres
ident of the Frisco Charles Il. AleXan-
der and W. w. Green, of the firm of Alex
ander & Green. New York, counsel for the
and A. A. Rossington, of Topeka, solicitor
for the Union Trust Company, OF New
York.
The party remained closeted with Judge
Caldwell behind closed doors until O'Clock,
when an order agreed upon appoint
ing three receivers for the Santa Fe, as
Santa Fe system; }. J, McCook, general
counsel of the Santa Fe system, and Jo-
seph c. Wilson, clerk of the United states
District Court at Topeka, Kan. The latter
q
having recommended Reinhart. McCook
and George c. Nickerson, the latter q di--
rector of the system, but he was objected
to by the compliments.
The receivers met with no resistance on
the part of the railroad companies. and an
The bills in both cases-that OF the Santa
Fe and Frisco" showed that the lines
were heavily involved with maturing OBJ
legations coming on soon, that the interest
due Jan. / could not be paid, and that the
mortgage would be foreclosed. In both
cases the cSmplainanta bills went fi,,i e!a abb
voluminous. The bonded Indebtedness ag-
gregates as f9 10y Goo S9o9OoSo
first mortgaSed ponaS; SIV $1,000 Glass 90,
second mortgage bonds. The interest due
Jan. L will aggregate nearly 100000 and
the floating debt is about $OOO,OOO, making
a total liability of about $2l00oO,O0O
J. w. Reinhart and j. j. McCook, two
of the receivers, are well known in rail-
road circles throughout the country; the
twice Mayor of Topeka, and is considered
a level-headed man.
at Topeka, Jan. 5, which will amount to
foreclosure of the bonded Indebtedness in
which event the branch lines, which have
been sapping the life blood of the main
lines will be Topped off. The order in each
of the two cases Is the same, and directs
that the receivers be authorized and di-
rected TO take immediate possession IF ali
the railroad and properties, including 9,346
miles of operated lines. and to run, manage
and operate them and to execute the aU-
thority and franchises of the roads and con-
duct Systematically their business. The re-
ceiVerS are ordered to execute each a bond
for $4,000 within the next twenty days,
and the order contains an injunction re-
quiring the roads TO be turned over TO the
receivers. The order contains full directions
to the receivers to employ and discharge
employees, and TO bring suits and have au-
hands: to pay expenses for operating the
property amounts due for operating the
roads and for track service, car mileage and
taxes and provides that il is made the
express condition that all legal debts now
due and which were contracted in the ope
ration of the road, including damages,
money. and work furnished ana done Ia the
construction, repair and equipment of the
roads, shall be a first lien on the property,
including all liabilities to persons or cor
porations who may become surety for the
company or indorsers or guarantees for it.
The receivers are also required to pay judg
mentS which are found against them which
are not appealed from, and all payments Of
the receivers are to be audited and allowed
by the receivers, so that they need not
come into court on every occasion. The lien
so created for such claims shall continue
unvacated. The complainants are required
TO prosecute the suit TO final decree without
delay otherwise the court will discharge
the receivers.
for ST Louis, Clerk Sharrett taking the pa
pers in the case with him to Topeka to be
properly filed in the United States Circuit