Omaha daily bee., 1895-09-29
APPOINTED NEW RECEIVERS
None of the Oontending Factions We're
Given Representation.
NORTHERN PACIFIC RAILWAY IN NEW HANDS
Judge jenkins Declines to Name the
Men suggested by the Contcnding
Interests and Gives His
Reasons mt Length.

MILWAUKEE, Stpt. 2S.-Ff nix G. Bige' ov
of Milwaukee and Edward McHenry of St.
Paul were this morning appointed by Juige
jenkins to succeed Henry c. Payne. Thomas
+. oakes and Henry c. Rouse as receivers OF
the Northern Pacific Railway company. Mr..
Bigelow is to be known as the financial re-
ce!ver and will have charge of all matters
pertaining to the finances Of tie property Mr,
McHenry, who for years past has been the
chief engineer of the Northern Pac fc AMI
who knows every inch of the road is to have
charge OF its operations. Tho new receivers
are ordered to file bonds In the sum OF $780,
900 each within ten days and TO report to tho
court in the same manner as their pre1e-
cessors. II at any time the appointment o. a
third receiver Is necessary, the appointment
will be made.
In making the appointments Judge Jenkins
dsregarded the wishes of the trustees and the
different bondholders. He said that the his
tory OF receiverships demonstrated the inai-
Visibility OF appointing receivers who were
connected with contendng factions Re-
ceivers were officers of the courts and not
agents of the parties interested in the prop
erty. and for this reason they should have
but one single object--to subserve the in
terests of the property intrusted to them, AMI
should hold no other allegiance than to the
court.
When Judge jenkins concluded his remarks
herbert E. Turner, attorney for the Farmers
Loan and Trust company. evpre ss.d his sat
isfaction at the wisdom displayed in the ap-
pointments, which, he stated, would be most
satisfactory to the interest he represented
TWO RECEIVERS ENOUGH.
w. d. Van Dyke, who appeared for the
second and third mortgage bondholders,
opened with the suggestion that unless the
courts had already fixed upon the appoint
ments he would ask that Thomas f. Lowry
OF Minneapolis be appointed. Mr.. Lowry,
he stated, was satisfactory TO the parties he
represented.
1T was yesterday suggested" began the
court, that only two receivers would be
necessary to take charge OF the property
| instead of three The court is not suli-
ciently informed to be able to declare that
the labors Of the management of the vast
property can be properly performed or should
be imposed upon two persons, but being
desrous OF keeping the expenses down to a
minimum, and the suggestion being uncon-
troverted by the counsel the court will ven-
ture the experiment and test the practical
bilty of the scheme and will appoint but
two receivers. If at any time the welfare
of the interests involved for any reason de-
mand the appointment of third receiver the
matter will be considered.
81 have given much thought to the sug-
gestion of Mr. Lowry and OF other names
that have been suggested to me and that have
| occurred to myself. The court thinks it
pertinent to say by what considerations
it should be guided in making the appoint
ments of receivers.
ITO a certain degree the practice OF rail-
road receivershps has obtained for parties
to agree on one or more names and suggest
them to the court. The appointment usually
follows a matter Of course, for II the
parties concerned are contented the court
may well be satisfied. Such receivers have
severally represented conflicting interests
uniting for one purpose. AS the fight wakes
warmer between the factions the heat Of the
conflict extends to the receivership, which In
time becomes a war of factions among the
officers of the court That was recently
exemplifed in a receivership in the Northern
Illinois circuit court, when the receivers OF
the court, when the became bitter and
as they became unable amicably to carry out
the court, insulted the court and resigned
on condition of the appointment of other par
ties individually. do not propose that this
shall ever again happen in any suit with
which | may have anything to do.
MUST BE TRUE TO THEIR TRUST.
"Now comes the question in hand. The
receivers to be appointed by this court must
come within the definition Of the law, as |
corstrue it. They must be men entirely in
different to the contending factions; they
must have no connection with this fight;
they must be men who are strict and i'm
partial and will perform the duties in single
devotion to the trust and with no ulteror
motives to serve. They must be men OF
high character, capable of commanding the
respect and confidence OF the great public
they are to serve.
with respect to the name of Mr.. Lowry:
He is at present president OF the 500 rail-
way, line supposed to be operated by and
in the interests of the Canadian Pacific, which
is a competing line with the Northern Pa
cfc. And although it has been suggested
to me that Mr.. Lowry, IL appointed. would
resign that position, the court is still very
desirous that the men to be named should
If possible be like Caesars wife-above sus-
picion and free from any relations with any
thing antagonistic to the Northern Pacific"
When he concluded Judge Jenkins in
structed the attorneys to draw the order
and he would sign 1t.
DISAPPOINTED MR.. LOWRY.
MINNEAPOLIS. Sept. 2S.-Thomas Lowry
received the news this morning from an
had declined to appoint him one of the re-
ceivers of the Northern Pacific railway. He
said: II consented to the use of my name
Thursday where all the security holders
and their request totally unexpected.
me, but It seems to me that the wishes OF
the security holders should at least influence
IL not control the court in the appointment
OF receiver. | can imagine that some Of
the security holders are rather uncomfortable
over the way their wishes have been disre-
| garded."