The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-03-13
CENTRAL OUT OF IT
Ex-Governor Ludlow Hears
Evidence as to the Read
ing Deal Stockton
Satisfied.

Special Master In Chancery Ludlow sat
in Chancery Chambers today to hear tes-
timony offered to prove the annulment OF
the agreements or leases between the
Central Railroad Company aud the Port
Reading Railroad Company. Counsellor
De Forrest. representing the Central
Railroad Company, was present, and
with him were President Maxwell of the
company and First Vice President Baker.
The examination is the outcome of the
decision Of Chancellor McGill that the
leases were illegal, and that receiver
should be appointed for the Central road.
1t is the old case of the .'coaI combine" !"
in which Attorney General Stockton has
won such a glorious victory.
AGREEMENTS In EVIDENCE.
Counsellor De Forrest presented as
evidence the original agreement between
the Central Railroad Company and the
Port Reading Company, made Fe ebruarY
10, 1892, and also an agreement as TO the
annulment of the leases. made Decem-
ber a. 1892, and delivered January .,
1898. He also filed resolutions showing
that the agreement had been rescinded,
passed by the Directors of the Central
Railroad Company on January OF this
year.
Counsellor DeForrest also filed as evi
dence triparte agreement entered lnto
on December "A, 1892, between the Cen
tral Railroad Company aud the Phlia-
delphia and Reading Company and the
Port Reading Company, dissolying all
agreements or leases and the return ny
the former CONF pany of 50. 100000 worth or
securities TO the parties OF the latter part.
He also filed as evidence an agreement
showing the dissolution OF all agreement Us
or leases existing between the Lehjgh
and Wilkesba Coal Company and the
Philadelphia and Reading Coal and Iron
Company.
AS Hast bit of evidence he filed COM
munication forwarded TO Attorney Cen
eral Stockton, showed that the President
and Directors of the Central Railroad
Company had recinded all leases with the
above mentioned companies, and that the
Central Company had in no way any new
agreement in contemplation, that all
former agreements had been cancelled,
and lastly. that the company had decided
to return 10 its original independent DO
sition, maintaining always the same
friendly spirit with the Philadelphia and
Reading Company, and all other railroad
companies which would serve TO the best
interests of the company.
MAXwELL'S EVIDENCE.
President Maxwell was put upon the
witness stand and testified as to the truth
of the agreements filed as evidence. Vice
President Baker corroborated the testi-
mony given by President Maxwell. At
torney General Stockton and Judge Ste
vens conducted the hearing for the State.
Attorney General Stockton asked for
another hearing TO take place on Monday
next. but added that unless he had some
Thing more TO present the railroad officials
would not have to be present. He said
he believed that ali connection between
the companies for The purpose Of 1ncreas-
ing the price of coal had been set aside.
The testimony of the railroad officials
was in every instance to the effect that
the Chancellor's Injunction had been
obeyed in every form, and that it was
obeyed up to the time the agreements o.
dissolution were effected, ,and also that the
Injunction is now being obeyeu.
President Maxwell of the Railroad
Company is also President of the Lehigh
and Wilkesbarre Coal Company, and he
testified that all agreements between
that company and the Philadelphia and
Reading Coal and Iron Company have.also
ceased.
The hearing was further corrobora-
tion of the victory of Attorney General
Stockton in knocking out the powerful
coal combine.