The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1894-12-14
NEW ADVERTISEMENTS.
ATTORNEY GENERAL JOHN P. POE Solici
tor.
ORDER OF PUBLICATION.

Inc state OF maryland
the susquehanna Ca
nal Company, the Tide
Water Canal Com,
pany, the Philadelphia
Company, the Un- In the Circuit Court
Susquehanna Canal Hartford County.
Preferred Bonds which In Equity.
matured on January
1, 1894, and the IN
known Holders of the
Tide Water Canal
Priority Bonds which
matured on January
L, 1881.
l. cure a decree for u sale of the Sasquehan-
ma and Tide Water Canal, its property and
franchises and for distribution of the pro-
ceeds of such sale amongst its creditors, accord
ing to their several rights and priorties; and
also for the appointment in the meantime of a
Receiver to take charge OF the affairs of the
said Susquehunna Canal Company and the said
Tide Water Canal Company, respectively, of
and all their property of every description; and
to hold, preserve, manage and operate the
same, if the operation of said Canal shall be
deemed desirable under the order of this Court.
The bill states that the Defendant Corpora
tons chartered respectively 10y the states OF
u continuous canal extending from Havre de
Grace, Maryland, to Wrightsville, Pennsylva-
mia; that under the, the Mary land Act of 1893,
completion of the Susquehanna Canal and of
the Tide Water Canal, the Susquehanna Canal
Company and the Tide Water Canal Company
mortgaged their Canal and property to the
State of Maryland to SECURE the sum of one
million dollars and interest, rs in said Act pro-
vided. and that under the Act of 1S43, Chapter
1853 they executed further mortgage to Den
mis- Claude, Treasurer of the western Shore of
Maryland, to secure the Indebtedness therein
mentioned that under the provisions of said
Act of 1S43, Chapter 1853, the Tide Water Canal
Company was authorized to issue and did issue
Priority Bonds for the purposes specified IN
N.,fS in1rraa
be about S97, 10000 and that the Susquehan-
ma Canal Company also issued similar Prefer
red Ronds amounting to $500 10000 or there-
abouts; that saiu Preferred and Priority Bonds
respectively, matured on the LIST Of January,
1884,, and are claimed to be still outstanding
and unpaid as a, prior lien upon the property
of said Canal Companies respectively; that SAID
Preferred and Priority Bonds are believed to
be owned or controlled by the Philadelphia
and Reading Railroad Company, Penpsylva-
trolled are claimed by parties unknown to the
plaintiff.
of January, 1872, made a lease of their Canal
and all their works and property to the said
Philadelphia and Reading Railroad Company
for nine-hundred and ninety nine years for the
rent and upon the termsset out and charged in
the lease and that said lease was surrendered
by the receivers of said Railroad Company on
the 21th of April. 1894 That for many years
said Canal Companies made default upon their
mortgages to the State of Maryland, AND that
on the 31st of January, 1889, under authority
tOnteTTeu ny buc iduu aCL VI 1900, CHhp-
ter 154, settlement and compromise was eff
fected by L, Victor BaughmaH, Comptroller of
the Treasury, with the approval Of ElflIu L.
Jackson, Governor, and Stevenson Archer,
Treasurer of Maryland, whereby in considera-
ton of the payment of S127,50Q.0O, being
twenty-five per cent: of the over due and un-
paid interest upon said mortgages to the State
of Maryland, release was executed to said
Canal Companies of the balance of said unpaid
interest; the time for the paymentof the prin-
ciple of one million dollars was extended for
fifty years maturing in 1885, and the rate of
interest ON said mortgage debt was reduced
that said Canal Companies paid said interest up
to and including the first day of January, 1898,
but have paid no interest since that time;
That the Canal was operated by said Pbiladel-
phia and Reading Railroad Company under the
lease of January 2, 1872, until the 9th of
April, S94 when it was abandoned and that the
Canal is now lying idle and daily deterioz1ating
in value. and that il. has no business or :reve-
nues sufficient to pay the operating expenses
and interest on the debts of said Canal Com
panies that said companies owe a mortgage
due in 1918, bearing six per cent. interest
amounting to 81, 1916 600: also mortgage due
in 1902, bearing interest at the rate of seven
per cent. amounting to S257 900 also unfund-
ed debt for equipment, etc.. amounting to
S2l ,2S2.33; also untunded debt being unpaid
interest on their bonded debt, amounting to
S53S, 235. is, in addition to the unpaid interest
due to the State of Maryland, and that said
companies are hopelessly insolvent. :
It is thereupon. this 18th day, of December,
1894, by the Circuit Court for Hartford county,
sitting in Equity, ordered that the plaintiff, by
causing a copy of this order to be inserted in
two newspapers, once u week, for four con-
secutive weeks before the 18th day of January,
1895, give notice to the Philadelphia and Read
ing Railroad Company, nonresident corpora
ton, and to the un known holders of the Susque-
hanna Canal Preferred Bonds which matured
on January l e, 1894, and the unknown holders
of the Tide Water Canal Priority Bonds. which
matured on January l, 1894, 'non-residents as
well as residents of this State of the object and
substance of the said bill, and warning them to
be and appear in this court. in person or by So
licitor. on or before the Both day of January,
1895, to answer said bill, and to show cause if
any they have, why decree should not pass as
prayed.
VIM. S. FORwoOD, yJR., Clerk :,
True copy, test,
14dec WIN. S. FORWOOD. JR.. Clerk