New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-05
ATCHISON RECEIVERS SPEAK
REpEILING ATTACKS on THE MANAGEMENT.
THE COMPANY'S PRESENT FINANCIAL POSITIO,
PRESERvED-wHEN THE RECEIVER.

LOANS CONTINUED AND COLLATERAL
PRESERvED-wHEN THE RECEIVER
SHIP WAS DECIDED UPON.
An official statement was given out yesterday by
J. W. Reinhart, John J. McCook and j. G. Wilson,
receivers OF the Atchison, Topeka and Santa Fe.
with regard to certain alleged interviews with George
II. Peck. general solicitor Of the company. and Re-
ceiver Wilson. upon which the London press has
founded recent criticisms upon the Atchi-
son management The interviews are repudiated by
both Mr.. Peck and Mr.. Wilson The receivers de-
clare that the financial condition OF the Atchson
Company was clearly and accurately given In the
statement of the directors issued December q"
This showed that Its Western accounts were nor
NAL and this Is confirmed by the fact that the No
vember payrolls. aggregating $4,000. were prac-
tically not delayed except during a few days In
which the receivership matters were under discus
sion. The payment Of these rolls Is now about
completed. The receivers say: THE condition OF
the system including the ST. Louis San Fran
CISCO Atlantic and Pacific. Colorado Midland and
all other auxiliary companies. Is az given in the
directors statement OF December q. which shows
total demand and time loans and notes with COL
lateral due from December. 1885, to June, 1884. 90
10000, and total coupon interest and other hxed
obligations due January / inst. S.9locO Since
the appointment OF receivers the loans have been
continued and the collateral held intact for the
company. This practically leaves the Atchson Com
psny. for Itself and all It's suxiliaries. In addition
20 the floating debt above stated. owing but 3d.
300. being the aggregate amount Of the interest
due January I. 1884,"
The receivers declare that the reports OF pro-
posed assessment on stock and the return OF "a, h
second mortgage bonds to Income bonds or o, me
disntegration Of the system have no o'ncial OASIS
on the Interesting point az when receiver
ship was contemplated the receivers say 49,, "a,
rope ne confident Of the ability or the com
pany to pay its interest on January J. ana gave en-
di,ion Of the negotiations was such that he saw no
reason 10 change his views until the a,'erh hs 0s
known the officers OF The company That mar
Magoun could not possibly survive more Imam
e 10 rncv@d from abroad Mr enhart became
necessary 10 pass the l., q January Slthougn EN-
couragcmeni was stlli held Guy Py smos" n,1rS
might be provided. The officer. 81 me COMPANY
clr"a and he expected death q The chairman %. OF
market. both here and abroad Il appeared to be
,nS .rcurit". Would fall thus depreciang the
,alu. 81 the bonds held ~ collateral ior me hoa
BEEN borrowed by the company and paid out as IN
ter.s the loon, might have cr"n pr IA. inter
.s,s OF the stockholders and all classes OK crni,ors
would have been enans,r.d am IN, 9"s 9,. ,nu
e soTfs" sd s ~ 1sinr. .I' tine pay '
Under the circumstances a meeting OF ule "
re-.torr was convened AMI II was d"'"rininei 10
he their duty 10 take such steps "a might pss'
observe the interests ~ the company, lts SION.
boilers ton'holiers and creditors ana 10 pt''"ii'
IN. drintegraton ~ the system. ana no, - pp
nose the Appointments 81 receivers II dSkru l"' -
.hose yho-e interests n would hc 70 preserve anu
protect m" property ~ a vh"i" 90 49,, ~,
officers Of the company i--cain" satiS'i,Si t'r'
prompt action WAS necessary TO protect a." inter-
-. ,r.st,,
ON the afternoon 81 the following day tu'Ssdtay,
I.r.-,l,.r COUNSEL representing the NtV"iS"i
and II Louis AMI san Francisco COMPANIES, ailu
a.. c,tns.i OF IN. trust compam"~ trustees 81 IL
r,.,,,.s cnverlns al the properties Of the rail-
rp,h COMPANIES began The PREPARATION OF g, W. H.
,...,r, t.u.,rs witch were completed on lhursdaS,
r,.~,.u,,.r y on which day counsel srit lu' III.
Wcst T. submit the papers 10 JUICE t''m a.
90. Rock Ark Prior 20 Tuesday no 1"EE'|-
,ions wrr. made no papers drawn MP nor s''pe
~ any kind taken toward the appointment Vi ~
Tnier ordinary circumstances. 1t woull nov ne
t,nrnr,ut TO state these facts, but the niSr'p,",
senta,ions that have been cahlei hhrph, coulieh
LIZ no names % officers ~ the Atchson N-,
~, r.naer n des,rnbl. that the exact facts shou'd
De stated anA known.