The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-01-05
Statement from Receivers.


NEW YORK, Jan. The following Off
cial statement is issued by the receivers of
the Atchison, Topeka & Santa Fee Railroad
Company:
Gable dispatches Indicate that some En-
glish newspapers have given currency to
certain inaccurate telegraphed
originally from Chicago and purporting to
the general solicitor of the Atchison sys-
tenn, and Mr.. Wilson, recently appointed
company. In these alleged extracts from
interviews these gentlemen are represented
as saying that the Atchison system was
knOwn TO be inSOlvent as early as last
August, and that legal papers were then
drawn in anticipation of a receiver. Both
these gentlemen declare that the alleged
and without foundation. The financial
condition Of the Atchison company was
clearly and accurately given in the state
ment of the directors issued Dec. %, show
ing that its Western accounts were normal.
The condition of the system. including the
st. Louis & San Francisco, the Atlantic &
Pacific, the Colorado Midland and all other
auxiliary companies is given in the direct
ors' statement of Dec. %. which shows to-
collateral due from December, 1898, to June.
1894, $500, 900, and total coupon interest and
other hXed obligations due Jan. L 1890, 600.
Since the appointment of receivers the
loans have been continued and the collat-
eral held intact for the company. This
practically leaves the Atchison company for
itself and all its auxiliaries, i'm addition TO
the floating debt above stated. owing but
S,SO,VO, being the aggregate amount of the
Upon the return of President Reinhart
from Europe he was confident of the abil-
Jan. !, and gave expression TO this belief
without hesitation. The condition of the
negotiations was such that he saw no rea-
son to change his views until the after
noon Of Monday, the 18th day of December,
when 1t became known to the officers of
the company that Chairman Magoun could
rot DOSSihlV SurViVa mora than a faw do "
This fact added many complications to the
situation. and upon the same day from ad-
became satisfied that the company could
not raA.e the money necessary to pass the
LIST of January. The meeting of the direc-
tors was convened. and it was determined
to be their duty to take such steps as
might best conserve the interests of the
company, It's stockholders, bondholders and
creditors. and to prevent the disintegra-
ton OF the system, and not to oppose the
those whose interests ii would be to pre-
serve and protect the property as a whole.
1T was late on Monday, Dec. IS, when
the officers OF the company became satisfied
that prompt action was necessary to pro-
tect all interests. On the afternoon of the
following day, Tuesday, Dec. 10, counsel
representing the Atchison and the St. Louis
& San Francisco companies, and the coun-
sci OF the trust companies, trustees of the
mortga ges covering all the properties of
the railroad companies, began the prepara>
ton of the necessary papers, which werr-
completed on Thursday, Dec. q, on which
the papers to Judge Caldwell. at Little
Rock, Ark. Prior to Tuesday no sugges-
tons were made nor papers drawn up or
steps of any kind taken toward the ap-
pointment of receivers.
Under ordinary circumstances, il would
not be important to state these facts. but
the Misrepresentation that have been
cabled abroad coupled with the names OF
officers of the Atchison system, renders
desirable that the entire facts should be
stated and known"
The statement is signed by j. w. Rein
hart. j. j. McCook and j. c. Wilson, re-
ceiverS.
ALBUQUERQUE. n. NJ, Jan. Judge
Needham Collier, associate justice of the
Supreme Court of New Mexico. to-day
placed the Atlantic * Pacific railway in the
hands of Joseph w. Reinhart, John I. Nc
Cook and Joseph w. Wilson, as receivers.
on a suit brought by the Mercantile Trust
Company, OF New York.