The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-05-28
TALKING 1T OVER.
Statement of Affairs Financial of the q.
s. l.. and Utah Northern.


st. Paul, May 27.-The application of
the Oregon Short Line and Utah
Northern for separate receivership and
payment of overdue interest coupons
on prior liens. came up to-day in the
United States court of this city. Argu-
ments were not concluded at the noon
recess.
The receivers of the Union Pacific
road presented a report of the amounts
applicable to pay the first mortgage in
terest of the oregon Short Line and
Utah Northern road i'm order that the
road might be turned over to a receiver
appointed under the foreclosure of the
second mortgage. The forenoon was
devoted TO a diecussion of the points
of the printed reports made by the re-
ceivers, no result being reached before
recess.
This afternoon there was long argu-
ments over the situation. The receiv-
ers of the Union Pacific said their
transfer of the Oregon Short Line and
the issuance Of certificates at 95, run
ming at per cent, meant that the
present interest of 6 per cent would be
increased to Sl9 per cent and that the
court would, under the circumstances.
make an order Of transfer. Judge San
born said he should make no order
with reference to the issuance of GER
tificates not heretofore made by Judge
Gilbert of Oregon.
From the report the following OK
tracts are taken as Indicating the sit
uation: We do hereby report and GER
tify our estimate that the net surplus
earnings of the Oregon Short Line di-
vision, being properly subject to the
mortgage date November !. 1881, made
by the Oregon Short Line Railroad
company TO said Joha J.. Dillon, as
trustee. will be on the first day Of June.
1895. $22S,922.O6. The Short Line and
Utah Northern Railroad company.
meaning therby the net surplus earn-
inss of the entire properly CT the com
pany considered as a system, will be on
the first day of June. 1895. $647, ,343.66.
We further certify shat the amounts
paid by us under orders from this
court for interest accruing upon mort
cages affecting the respective divisions
have been stated and deducted from
the said balances of surplus earnings,
and that IT appears frnm the state
ment that the respective surplus and
deficiencies applicable to said divisions
and stated as on the first OF June, 1885,
are as follows: Estimated surplus IRE
gon Short Line division, $22S 92a O6. es-
timated surplus Utah d Northern divi-
sion, $553,59S.S6; estimated dencis. Utah
Southern, first and general mortgage
division. $96, 1887; estimated deficiency
Utah Southern. extension MORTGAGE di-
vision. $37, ,20022; estimated surplus Ore
gon Short Line and Utah Northern
consolidated mortgage division, S23.-
247.O6; total, S637 ,24366. The receivers
respectfully submit that before the
railroad property now in their hands
should be permitted to pass from the
jurisdiction Of this court provision had
been made for the payment of the said
claim of j. p. Morgan & Co, for COM
pensation for the use of the 81 Iocomo-
tives, and that this obligation should
be considered before determining that
any part of the surplus earnings ap-
pearing to be i'm their hands on the
said first day Of June, 1895. can be con-
sidered to be properly applicable to
the payment of the interest on any of
the bonds secured by mortgages cover
ing the said property of the Oregon
Short Line and Utah Northern Rail-
road company, or any part Of the same.