San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1895-10-06
RECEIVERS REPORT.
HISTORY OF A MEXICAN RAIL
WAY.
How the Monterey and Mexican
Gulf Was Pulled Together Out
of Nothing.


is going on between the bondhold-
ers of the Monterey and Mexican
Gulf and the authorities.
1t would seem the aim OF bond
holders, or those claiming owner
ship in property is to secure
possession OF the road and pay the
creditors after presumably from
the earnings.
The receiver was appointed by
the Federal district court Of Monte
rey which the COURTS having juris-
dictIon over the receivership, but
with view to get things going
their own way the Belgians who
who represent the bondholders
have instituted proceedings in a
court Of equal authority in the
City of Mexico and so the two au-
thorities are at loggerheads.
Should the American creditors,
who would be forced to accept a
compromise instead OF receiving
pay in full
The court of Monterey, which
has so far sustained the receiver,
will undoubtedly be recognized as
the judiciary power having juris-
diction, and it is to be hoped will
not give ruling before granting a
hearing to the American creditors,
who are naturally averse to making
any compromise, considering their
claims being for material furnished
in the construction and operation
of the road should be a first lien
on the property.
On the 18th of the month the
receiver, Joseph A. Robertson, Esq,
presented the following report of
his administration to the Federal
District Judge of this city, from
which it will be seen that the prop.
erty has increased greatly in value
under his direction. The report is
we'll gotten up and speaks for
itself.
"Report rendered by j. A. Rob-
ertson, in his character of inter-
venor and judicial depository Of
the Monterey and Mexican Gulf
railroad, to the district judge OF
this state, relative to his admins.
tration:
ITO the Honorable Judge of the Federal
District Court of the State Of Nuevo
Leon, Monterey:
On assuming possession OF the
property Of the Monterey and Mex.
lean Gulf railroad by virtue of tn Q
decree issued by the court under
your worthy jurisdiction, l made
known the condition in which the
road then was and presented de.
tailed inventory Of all that con-
stituted its property from which
it could be seen that the road could
not be operated between the sta
tions OF Escandon and Tampico;
that from one extremity to the
other it was entirely devoid of
ballast, as we'll as that, by reason
of the floods both track and bridges
had suffered great damage; that
the wharf at Tampico was unfin-
ished and there did not exist suf-
ficient side tracks adequate to the
service, and, in fact, the property
was in the worst possible condition
to be administered.
The company at that time had
only $50 box cars, ia fiat cars, p
stock cars, 80 coke cars and 16 pas
senger, baggage and mail cars,
while its motive power consisted
OF only IL locomotives. All this
equipment had been in service
from the commencement OF con-
struction and was therefore, unfit
ed and inadequate for,the efficient
operation OF the road by reason Of
extraordinary wear. and tear re-
ceived In building the line. 1t
lacked at that time the necessary
shops for the prompt repair Of en-
gines and car equipment; the
water.service was unequal to the
purposes of the road in conse-
quence of the pumps and boilers
being of inferior quality and too
small, beside having been located
by the contractors at points appro-
priated to construction purposes
only, rendering necessary ADDITION
al water tanks of iron with stone
foundations, and pumps and boil
ers of greater power and capacity ;
the roundhouse was not sufficiant-
ly ample to stall all the engines
undergoing repairs, so it will be
seen generally, and in the cases
noted the successful operation OF
the road with the above mentioned
drawbacks was an impossibility.
The judicial decree appointing
me intervenor and judicial depos-
ltory, with the faculties of general
manager. authorized me to take
possession of all property of the
company Of every kind, to take
care of it, and to take such steps as
would conduce to its improvement
and increment TO the best of nv