The evening world., 1893-12-27
PLATT IS RECEIVER.
Appointed to Take Charge Of New
England's Affairs.
Named by Judge Wallace, Of the
United States Court, at Albany.
President Mcleod Says IL Was an
Cnfricndiy Movo.

The New York and New England road
is IN the hands OF receiver.
Thomas G. Platt was appointed this
morning to this Office by Judge Wallace.
Of the United States Circuit Court, sit
ting at Albany.
The application was made by A. H.
Boardmnn, of the law firm OF Tracy
BoardmGn e. Platt. who left the city last
night after the accessory affdavits had
been signed at the meeting held in Mr..
Platts rooms at the Fifth Avenue Hotel
1t was made without the '-nowledge
OF President Mcleod. who was presiding
Mt n meeting OF the stockholders OF the
Company at his office IN the Equitable
Building this afternoon. when the news
was received In this city.
Although Mr.. Mcleod d.d not seem to
5e very much disturbed by the informa-
ton. lie declared that II was an un-
friendly move on the part of the Platt
faction.
THE fact that they concealed their In
tentions from me-" he said. Shows that
they were hostile to me. II they had
given me notice that such an application
was to be made. or II 1t had been made
In this city, I could have had my lawyers
on hand to oppose the motion. and no re-
ceiyer would have been appointed.
~ do not know anything more about
the matter. and do not even know who
is the plaintiff In the case"
Ex-senator platt declined to discuss
the matter early this afternoon, but his
son. Franz Plat. the law partner OF
'".rhe Evening World" TINT the sppllcS-
tlon was based upon affidavits showing
that the Company was in an insolvent
'"rha fact that It Ia unable to meet
Its interest On its first mortgage bonds.
''rhs interest amounts to $4,000, and
the Committee appointed to devise means
for raising the money has failed to do
courts to step In.
"The papers are all in Mr.. Boardman's
possession. and ! can only say that they
give detailed history OF the road, show
Ing Its insolvency. Although the applca-
tion was made without the knowledge OF
President Mcleod. there was no un-
upon him in the papers submitted to the
Court. nor ~ any reflection cast upon his
management.
"rhe msmanagement which brought
about the present state Of affairs oc-
CURED long. ago. before Mr.. Mcleod be-
VIII @ object ct to- .he Ieceiv,erahiP. but that
action which has been taken"
Mr.. Plat is appointed temporary re-
ceiVer, and an order to show cause why
the appointment should not be made per
manent Is returnable before Judge Wal
When i Mr.. Mcleod was shown the
statement coming from Mr. Platt. he
the action could be regarded as a friend
ly one, rs he had not been given any
opportunity to meet the charges that
| the road was insolvent.
L lpny that n IA insolyepf and min
tain that the money could have been
raised to meet the January interest. 1t
Is great surprise to me-"
| The meeting held this afternoon at his
otfice was for the purpose OF ratifyins
the lease OF the New York. New Eng.
land and Northern road. completed by
the New England expected to obtain an
entrance into New York City.
over 100000 shares. or a ma jority of the
stock. were voted at the meeting In favor
scld that the receivership would not
fleet this action.
II n an ana, address s which @ he had prepared
Mr.. Mcleod said that when he was
elected President of the New England
Company last March he had found the
been obliged to raise money to meet the
July interest.
He asked for n ratification OF the lease,
which he snii was to the fu
1
With a defense OF his policy and pro-
fessed unhounded faith In the great value
| of the property.
The news OF the appointment OF n re.
ceiver caused New England to be slaugh
tered In the stock market. and the price
went down to the lowest point ever
reached. Sales were made at ~. The
closing price yesterday was Is 3-S
Dispatches from Albany to-day say
that the papers In the New England
| receivership case were presented &c
Judge Wallace yesterday. but they were
found to be imperfect and were not &C.
| cepted by him.
Mr.. Bonrdman came hack to New York
last night, corrected the error and re-
turned with them to-day.
The Supreme Court of Rhode Island
has granted n temporary Injunction re-
straining the city of Providence from
indorsing the bonds of the New Yorl
ard New England Comnany.
The uit for the New England re
ceivership Is brought In the name o
Theodore F. Wood as plainti.
He is Treasurer OF the United State
Express Company. OF which Thomas c
Platt is President. and merely represent
tntt