The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-03-11
II CoMEs AT LAST.
The st. Louis, Cape Girardean a
Fort Smith Road in she Hands OF
aReeeivef.

-
Fort Smith Road IN she Hands OF
aReeeivef.
Quite IN excitement was created in
this city Saturday night when the
news was circulated that the st. Louis,
Cape Girardeau & Fort Smith Rail;
road was in the hands Of a receiver.
At first many of our citizens refused
to believe that there was any truth in
tho rumor, but circulars announcing
the appointment of Louis Hoick as
receiver were circulated confirming
the fact that the road YVES actually in
the hands Of a receiver, and that Mr..
Louis Houck had been duly appointed
as such receiver by the Hon. Alexan-
der Ross, Judge Of the Cape Girar-
deau Court Of Common Pleas.
The receiver was appointed CT ap-
plication of the st. Louis, Cape Girar-
deau & Fort Smith Railroad Company
and the r~eceiscrship was therefore
not forced by creditors. Mr.. Eiouck
As receiver gave bond in the III of
fifty thousand dollars and tcck pesos
sion of the road and liz Property I'M
metl.atclv. The business Of the road
will go on as usual and all the officers
ard employees will remain in their
roSitirns.
This step was taken. we understand,
fer TIE purpose of effeciing a re-dr-
sani-,tion of the company N the i'll
te-cst of stockholders; boud-holdcrs
anil all concerned.
There are rery few railroads in the
country that have aot at some time
in their histor- been in the hands o!
n r~ccciT.r-in fact, it is the general
rule that to be put OIL \ Eayiag basis
a new railroad must first be managed
by a receiver whose duty under the
law is to pay the running expenses.
keep the road in good condition. and
whatever surplus isleft goc. to paying
of the bonded debt. Tic road must
be kept in good condition and the
running expenses paid out of the
earnings first. The law in this resfect
is. q good Law. for 1t prevents the
5~ond-hclders from forcing the col
lettior Of their bonds at tie rnination
of the railroad company and the pco-
pie who have invested then r,oncy
along the line of the road.
Hon. Louis Houc! has worked hard
for twelve long years in building the
St. Louis, Cape Girdcau II Fort Smith
road. lie took hold OF the enterprise
inexperienced es a railroad builder
and at a TIME. too. when money was
not seeking Investment III new rail
read enterprises in Missouri. He
built the read ffom this city TO Delta,
a distance of about fourteen miles.
without asking outside aid. From
Delta he pushed the rOnd westward
ihrough-as he says himself-a howl
ing wilderness. TO a junction with the
Current River Branch of the Fort
Scott road. Ih& country through
| which this road runs was u wild I'M
populated country that had ita be de-
veloped before it could furnish sup
! port for a railroad. When the road
was first completed the Traveller over
il coald gaze out Of the car windows
fer hour, at a iiu,c without seeing q
| farm or farm house. This was the
condition of the country altrS the
railroad then, but Il is entirely diff
fercnt now. Thriving l:ttlc towns are
building up and fire farms are being
opened up all along the line and the
outlook fer a rich harvest for q rail-
road that ruin through this bowling
wilderness Begins to look promising
indeed.
Our people. and in fact the people
Of Southeast Missouri generally; will
always hold AR. Louis Houck in the
highest esteem for the great work lie
has done; and they will not t!iiI':; less
Of Kim for the step he has takeii III
this matter of putting his road in tic
hands of a receiver. They will see
later OIL that he has taken a wise
course and did the very thing that
was necessary fer the best interests of
the read, its creditors ard the peO pie
in the section of country through
which the rosd runs
March Proverbs.
"If March enter lambliIs
AZ Nov Years door,