The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1893-03-10
RAILROAD AFFAIRS.
T. E. HoGG SUCCEEDED IN THE RECEIVER
SHIT BY L w. HADLEY.


the GAZETTE last week left the railroad
case, court convened at o'clock on Satur-
day afternoon for the hearing of two mo-
tions-one for the postponemcnt of sale fol
80 days; the other for change of receivers.
The petition for poatponement occupied
the attention of Judge Fullerton until
4 so'ciocls. Argument .on the question IS.
sumed a quadrangular shape. Attorney
Gest, for the Blair bondLoiders, stuck for
his original motion for postponement.
Messrs. Bryson for the Farmers Loan and
Trust Company, and Bronough and Flynn
for the present management and Linthlcum
for holders Of receivers certificates, all op.
posed the postponement, but disagreed on
| other points. Linthicum wanted the road
| offered and sold for what it would bring;
| Mr.. Bronough strenGousiy contested against
such a proposition; and AIR. Bryson steadily
| contended for the sale as advertised, arguing
| trenchantly against delays which were keep.
ing needy employees out of their earnings,
and getting the matter deeper and deeper
into debt and complication the longer it was
put off. Mr. Gest spoke earnestly of the
good iaith in which the Blair bondholders
were acting, and tried to convince the
court that only by them would be raised
the necessary cash to pay employees and
creditors. Only give them time and the
probabilities are they will do the rest.
Judge Fullerton stood solidly upon his orig
inal grounds: "Pay the employees no
l
ment over proposition of Mr.. Gest's sug-
gesting that his party furnish some $4,000
to pay employees, for which there should be
! issued to them receivers certificates that
! should be preferred above ali other
claims, the matter Iina!yA r~~te.l. Fay
money or no postpone was Judge Fullerton's
steady decision. "The sale will proceed
next Tuesday, March 7tl.'
| Saturday evening there WAS a lively ses-
sion over the question CT removing Col.
7. E. Hogg from the rec"iv-r*irlp aud the
| appointment Of new cfficisl in that Ca
pacity. The order of tn. court adduced
tells best the tenor Of tbs pte:.dings and the
outcome OF the application. 1t is as
follows:
''The court having heard the application
and motion for the removal Of It. Egentcn
| Hogg as receiver of the Oregon Pacific and
the Willamette Vailoy & Cast Railroad
Companies, and the reply of William NJ
| Hoag, manager for the receiver, and the
argument of council, and it appearing to the
court therefrom and from the records and
| files of the above entitled c,use, that the
SAID I. Egenton Hogg, is M longer suita-
bic person to serve as such receiver; that he
has neglected the duties OF his trust. in this
that he has since his appointment constantly
| resided outside Of the state OF Oregon, and
continues to so reside out of the state, to-
wit, to reside IN New York city, state of
New York; and has delegated his duties as
receiver in managing said properties entirely
to subordinates and continues. 50 to do; that
he is largely interested both as bondholder
and certificate holder in sail properties, and
his interests ara directly opposed and antag-
onistic to the interests of n large number of
the other bondholders and certificate hold.
ers, and by reason of his personal interests
he ought not longer to be continued es such
receiver of said properties.
That the receiver, in violation Of the or
ders of this court, hindere,l and delayed the
experts sent ont to examine the properties
to be sold, in refusing to; allow them to look
at the minute books of said companies, and
particularly in refusing to allow the experts
to examine the books and documents in the
New York Office, as alleged in~the appIicar
tion; that the interests of all concerned will
be subserved by the removal r. Ecenton
Hogg as such receiver, anl the substitution
of disinterested person gin his place as
such receiver.
1t is therefore ordered and decrsed by She
court that the said T.. Eg.a.on Hosg be,
and he is hereby removed and discharged
from his trust such receiver; that E. w.
Hadley a resident af Corvallis, Benton
county, Or, be and is hereby appointed !
receiver of the propertie- and business of |
the defendant companies and substituted as
receiver for the said T. Egcn.un Hogg; thai |
his bonds as such receiver be fixed at the |
sum of $50, ,O00 to be approved by the Judge |
oI thls court; that upon the filing of such |
bond, so approved, the sail L. w. Hadley,
as receiver, shall enter upon the discharge
OF his duties, and that the said T. Egenton
Hogg, his agent and employees, are hereby
ordered and directed to ferthv it'll turn over
to him all the properties, books ETC., which
have come into his hands as such receiver.
L. Egenton Hogg is further directed to
file his final account herein, as such receiver,
before April 4th, 1898. Il is further order.
ed that the order heretofore authorizing the
sale of receivers certificates at discount
of 40 per cent. is hereby vacated
and set aside, except as to such Ger.
tificates as have already been sold and deliv.
cred uuder said order.
NJ. Hadley qualified and entered upon
the DISCHARGE of his dntios the fret of Tho |