Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1893-12-26
A.. T. 4 s. +. AFFAIRS.
Receivers Hopeful of an Early ReOr-
ganizatiOn-D. B. Robinson
Named as General
Agent"

As foreshadowed in these columns on
Saturday last, the A., 7. & s. f. railroad
system, including the Frisco lines and the
A. e. P. road, have passed into the hands
of receivers. The application was made
by the Union Trust company and the
Mercantile Trust company, of New York,
trustees for the bondholders. Judge
Caldwell, U. S. circuit Judge of the Sth
circuit, sitting at Little Rock, Ark, made
the order and ramed the following as
receivers: J. W. Reinhart, president of
the A., T. g. s. F.; j. j. McCook, general
counsel for the road, and Joseph G. Will
son, clerk of the United States district
court at Topeka, Kas. The latter was
compromise receiver, the railroad people
having recommended Messrs. Reinhart,
McCook and George Nickerson, the latter
director of the Santa Fe system, who
was objected to by the complainants.
The bonded indebtedness aggregates
$232 100000 as follows: One hundred
and fifty million dollars first mortgage
bonds; 100000 class "a" second mort
gage bonds; $5,O00,000 class "B' second
mortgage bonds. The interest due Jan
uary will aggregate nearly $3,O00,000,
, and the floating debt is about S5,000,000,
making total liabilities of about $780,
100000.
The receivers have taken full charge
of the property and have twenty days in
which to file bonds in the sum of $780,,
900 each.
A supplementary bill will be filed al
Topeka January s, which will seek {
foreclosure of the bonded indebtedness
II is officially stated that one object o
the receivership was to get rid of certain
leased and subsidized lines which hav'
been operated by the main lines for SOM
time at heavy loss. AS soon as this Ii
done it is believed that scheme of re
organization satisfactory to all bond
holders will be agreed upon and carried
out.
| The A., 7. & s. T. system, outside 0
! its main line, is made up of diff
! ferent corporations, whose securities. ex
I cept in the case of the st. Louis g. Sal
, Francisco and Colorado Midland, ar
, nearly all deposited under the blanke
mortgage of the parent company. Tn
total mileage is 9,346 miles, and the east
: ern termini are Chicago and st. Louis
To the west its ramifcations extern
: through fourteen states and territories
9 from Denver, Oregon and San Francisco
8 and south to Galveston and Ell Paso, an
t Guaymas in Mexico. The gross earning
:. for the past fiscal year reached the enor
nous total of $41, ,316,547.
President Reinhart has issued circula
: to stockholders, saying among othe
. things:
"The obligations OF the companies ar
0 as follows: Time notes and loans @
: collateral, due December, 1893, to JUNE
$ 1885, $4,1O0,O00; notes and loans o
: collateral on call $2,00O,Onn; total note
9 and loans, $6,3O0,000; &C 4pon interest an
! other fixed obligations due January
y 1894, $3,9OO,OO0. The western account
Q are about normal with remittances fo
8 interest payments turned back to provid
for November pay-rolls and other RI
quirements. With ordinary financial cor
ditions prevailing in America and Europ
the market value of the securities owne
by the companies and used as collater'
is about equal to the entire amount of tt
= above obligations"
A telegram from the receivers of the A
L. d s. f. company to Local Agent Lut
brings word that Mr.. D. B. Robinson ht
been appointed general agent" for Il
!. receivers in charge of the Santa I
n system. This means that there will
). no changes in the west for the present ,
least.