New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-14
LONG ISLAND C1ION SOLD
THE ROAD PURCHASED BY JOHN G. JEN-
KINs FOR s5,5Oo.OOO
JUDGE GAYNOR DENIED AN APPLICATION TO
CONTINUE THE INJUNCTION AGAINST THE
sALE-AN EFFORT TO BE MADE FOR THE
APPOINTMENT OF 4 RECEIVER
IN THIS STATE


IN THIS STATE.
The foreclosure sale of the rights. franchises ana
propertv OF the Long Island Traction Company by
a ~ tho United States Circuit Court OF the
eastern District Of Virginia attracted number o.
vell-known railroad men and lawyers 10 the ->e"
York Real Estate Salesrooms No.lll Broadway yes
terdav afternoon. Among them were eN-i'eu'eH'''
Governor William F. Sheehan. f. kingsDury Cui-
lis II ] Morse. receiver Of the road; Judge Nhte'
Of Virginia: Professor Collin, James [. Chufcn'
representing Michael j. Kennedy. one OF the STOCK
holders and Edward Cornell Henry Draper OF
Adrian H. Muller e. Sons was the aucuoneer'
+ Kinrsbury Curtis read the conditions OF SAFE
which stated that no bid would be received "it"ou'
the sum of $4,000 in cash or a receivers ceruhcate
TO the amount OF S5O.V~ par Vai9e' o'"e P'
handed TO the auctioneer
When Mr.. Draper asked for bids MT. Cnurc"
said that on behalf OF Michael j. Kennedy a SUN
holder Of the company he protested asa'hst ~.
sale taking place. the ground that the C'cu'
Court of Eastern Virginia had no jurisdiction IN the
roottor and had no right to order the sale NO
attention was paid to the protest however anu INC
sale was proceeded with Only one pa was OF
fered 100000 by John G. Jenkins president u
the First National Bank Brooklyn, ana ne "dS
declared the purchaser .ooo
Mr. Jenkins handed in a certified check TOT 'iVV"
drawn on the Central Trust Company.
Tha capital stock of the road is now S5o~poV'
but II IS intended to reduce ii 10 S2oolcVO py TAX
INC ,bree Of the Old shares and giving two OF the
new shares Mr. Jenkins. the purchaser was
member of the REORGANIZATION COMMITTEE. 10 the
The new name OF the corporation VIII "V '''-
Brooklyn RAPID Transit Company. - +, r,rool,.
Judge Caynor of the Supreme court, IN bhloore
yn Yesterday morning denied me pf ,S I' ong
Michael J. Kennedy. as stockhGder oI e i'I TIE
preliminary injunction obtained or, !huiSuaS,
stranng the sale Of the 2roP %dgs Tathen Go Of
The United States Circuit Court in Virginia ms
Therefore barred the holding OF the sale YESTERDAY
Alnet f. jerks who appeared for the ,pet.lo',y'
made the opening argument, briefly reviewing inc
j. s Auerbach, Of Davies. Stone & Auer6ach.
counsel for the receiver. said the proceedlnss
brought by Kennedy and others were pari OF
policv Of obstruction to prevent the reorgahEa'oh
u Roger or Foster. who followed for the plaintiff,
smoke on The question of jurisdiction on the part
of judge Golf, whom ne accused or most CUT
rageous stretch OF power. ., ,
ing the motion to continue the injunction lie sa'd
in RWabTiii do intimate that the honorable Court
which made this order of sale has higher powers
than the Court now sitting. have had grave douDls
thing which must be decisive in this appl. cation
PENDANT in the action in the Virginia court; SUI
mitted through their directors TO rs jurisdiuoh Dy
Late Yesterday afternoon James G. Church and
Mr. jerks appeared In the supreme court ana
asked Judge Gaynor whether he would enterjia9
an application for receiver IN new sun saIns.
the fraction Company and the brooklyn telshts
Company. Judge Gaynor said II was his G"N 10
entertain any application made IN 'he IeS"'"i
The LAWYERS then withdrew and the preparation
of papers in a new suit was begun at once Mr..
Church said he was going to apply to Judge Cay
nor for order 10 show cause why receiver 0I
the Traction property should not be apponted IN
Judge Ciaynor said last night that no such APP
plica ton was made yesterday afternoon.