The evening world., 1893-12-27
LAST EDITION
PLATT IS RECEIVER.
Appointed to Take Charge ofNsw
England's Affairs.
Named by Judge Wallace, Of the
United States Court, at Albany.
President Mcleod Says Il Was IN
Unfriendly Move.

The New York Inc New England road
Is In the hands of a receiver.
Thomas c. Plat was appointed THU
morning to this office by Judge waliace.
of the United States Circuit Court, sit
ting Mt Albany.
The application was made by A. B.
Boardman. Of the law firm Of Tracy.
Boardman & Plat. who left the city last
night after the necessary afidavits had
been signed at the meeting held In Mr..
Platt's rooms at the Fifth Avenue Hotel
1t was made without the ',nowledge
Of President Mcleod, who was presiding
at a 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 did not seem to
be very much disturbed by the informa-
ton. he declared that 1t was an un-
friendly move on the part of the Plat
1T fact that they concealed their In
tenti",ls from me" he said. Shows that
they were hostile to he. II they had
was to be made, or IL It had been made
In this city. l could have had my lawyers
on hand to oppose the motion. and no re-
~ 40 not know anything more about
the matter. and do not even know who
lS the pialnti1 In the CASE ~
Ex-senator Plat declined to discuss
the matter early this afternoon, but his
son. Franz Plat, the law partner OF
Mi saTbs b SyenInH w s,atsa to a reporter Of
ton was based upon affidavirs showfng
nat the Company was In In an ipsclvent
"The fact that II Is unable 10 meet
Its Interest IN Its frst mortgage bonds.
which is due JAM: I. Is sufficient to JUS
tity such an application. !" said he.
the Committee appointed to devise means
for raising the money has failed to do
so, and nothing remained but to ask the
1.-The papers are all In Mr.. Boardman's
possession, and / canonly say that they
give a detailed history Of the road, show
ton was made without the knowledge or
President Mcleod. there was no un-
friendly intent. and no attack Is made
upon him In the papers submitted to the
management.
The mismanagement which brought
CURED long ago. before Mr.. Mcleod be-
came President. / do not think that he
Wi %iil w 9Sje Ss to n the reeeiyership. but that
action which has been taken"
Mr. Plat Is appointed Temporary re-
ceiver, and an order to show cause why
manent is returnable before Judge Wal
lace on Jan. 10.
When Mr.. Mcleod was shown the
only remarked that he did not see how
the action could be regarded as a friend
y one, as he had not been given any
1Pportu5it to- meet the charges that
II deny that 1t is insolvent and main
tain that the money could have been
raised to meet the January interest. 1t
The meeting held this afternoon at his
once was FOR the purpose OF ratifying
land ana Northern road. completed BY
Mr.. Mcleod some time ago. by which
the New England expected to obtain an
entrance into New York City.
over lUl.0 600 shares. or a majority OF the
stock. were voted at the meeting in favor
OF sustaining the case. and Mr.. Mcleod
aid that the receivership would not
In an address which he had prepared
and submitted at the meeting to-day.
s Mr; HG Fsesias saId of tA tSe y NsW h Be wsi
Company last March he had found the
treasury. practically empty. He had
been obliged to raise money to meet ths
July interest.
He asked for a ratification OF the lease,
which he said was necessary to the fu-
ture prosperity OF the ne road road, and closed
tossed unbounded faith In the great value
of.the property.
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 u. 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 to
Judge Wallace yesterday. but they were
found to be imperfect and were not ac-
cepted by him.
Mr.. Boardman came back TO New York
last night. corrected the error and re-
turned with them to-day.
The Supreme Court of Rhode Island
has granted Il temporary Injunction re-
straining the city of Providence from
endorsing the bonds of the New York
and New England Company.