Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1893-12-28
THE SANTA FE.
Wilson Accepts His Part of tho
Receivership.
HE DETAILS THE NEW PLANS.
The Company WIN DO Much Better In
Every Way harics s. GIced Also
Talks Inteliigently on the
subject.

TorEKA, Kan, Dec 90. Joseph C.
Wilson, one OF the receivers of the
Atchson, Topeka & Santa Fe railroad,
has resigned his position as chief clerk
IN the United States district court.
The resignation was accepted, and
Judge Foster appointed George H.
Sharrett, clerk OF the United States
circuit court, as temporary clerk
Receiver Wilson returned from St.
Louis at noon, accompanied by MIR.
Sharritt In Il conversation Mr. Will
son said: "Nhile no definite plans
have been made for the management
of the road, IL is understood that there
will be no material change in the heads
of departments. The number Of en-
ploycd will be increased, and the road
will he put in better shape than IL ever
was. The employed Of the road in
Kansas will receive their back pay the
first week in January the Sd or
9TH The payment will be made out of
the fund the company has on hand and
which IL was holding to pay the Janu-
nry interest The employees OF the
Frisco will receive their back wages at
| the same time. borrowed s2O1,O0O in
St Louis To make this paymcn
Asked regarding the probable length
! OF time the road would remain in the
hands Of the receivers, MIR. Wilson said;
THAT is difficult question to an
swer. The Missouri, Kansas & Texas
| road was in the hands of the receiver
! about seven years, but | understand
| that all there was of the line when the
receiver took IL was u streak of rust
| and n right of way Tho Santa Fe Ia
! In excellent condition In every way,
/ except financially, and there is no
I doubt that the affairs of the company
/ will lie Strengthened out in less time
than IL took to settle the troubles Of
( the Missouri, Kansas & Texas George
/ II. Peck, general solicitor of the Santa
Fc, gave it as his opinion that the road
would he in shape for reorganization
in very few years
| Asked as 90 who would take imme-
dlate supervision OF the road under the
receivers Mr.. Wilson replied;
1.-The first action Of the receivers was
the appointment of d. Il. Robinson, Of
Chicago, rs general agent Mr. Robin
son is first vice president Of the road,
and his duties will be about what they
have been since his promotion TO that
position. lie will have charge of the
active operation of the system"
MIR. Wilson leaves Wednesday for
New York Tor conference with prcsi-
dent Rcinhart and General Counsel
! McCoolS, the other receivers. Mr.. Will
son says that his duties will probably
be TO look after the western interests
of the road.
Charles $. Glccd, who was for sew
eral years connected with the legal de-
partment of the Santa Fe, has returned
from New York. lie said that II was
believed in the east up 10 the day Of
MIR Magoun's death that the January
interest would be paid The English
money lenders who We're relied ON to
make good the deficiency, knew Mr..
Magoun, as chairman Of the board of
directors, and naturally supposed that
his death would make a great differ
ence with the company'b affairs The
promises were not kept nnl the road
went into the hands OF receivers
"prc,idcut Rciuhdrt has done marvel
ous work on the Santa fe affairs con-
tiuucd MIR. Glecd, land except for his
courage and skill the end would have
come sooner One Of the plaincst facts
IN sight for years Is the fact that the
railroads Of the country have been
steadily and surely travelling toward
bankruptcy, when their urE lal
bonded debts are taken into considora-
tioa This Is especially true OF the
tra nscontincntal lines They have
been multiplied bcyonl reason, con,.d-
: erinr Ia, scarcity Of local traffic, aud
all The time rates have been steadily
falling and cost Of transportation in
crcasing These influences have
! squeezed all the companies. Already
nearly 90 per cent, or one-tiith, Of the
/, entire railway mileage Of the country
Is in the hands Of receivers, and the
end is not yet
Treasurer Edward Wilder, who has
: hcll his position practically since the
, ropd was built, said that the earnings
, o! the system had been very satisfact
ory, and under ordinary circumstances
the floating debt could have been
cared for without any Inconvenience
but on account of tho hard tines the
company, like everyone elss, expert.
enced trouble In raisinF money ON any
collateral or other security The rcceiv
= ership, MIR. Wilder thought, would give
the company time TO meet It's obliga
, tions under improved financial condi
tions, which could be counted on dur
ing the coming year. The securities o.
the company Mr. wilder said, wer'
: ample to meet all emergencies II the
conditions Of the business and socia
| world were normal