St. Paul daily globe., 1895-10-01

i
to have their designations accepted
at present? They must obey the
order of that court and account to
it for the discharge of their trust,
and answer the charges made wheth-
er they continue as receivers or not.
| The obligation of this court, and
! of every other court through the
| jurisdiction of which the road passes,
is to the property and not to the re-
ceivers. I represent the interests
| of the stockholders, and if the road
can be held together we may be
| able to get something out of it. But
if the chaos I clearly forsee is
brought about, there will be moth
| ing for any of u.s."
why should the court in the
| Eighth district wait for that in the
Ninth any more than the Ninth
should wait for the Eighth" asked
| Judge Sanborn.
1--WE do not ask the Eighth to wait
for the Ninth" answered Mr. Cutch-
| con. "All we want is that time be
allowed for consultation of the
| judges in all the Jurisdictions
Judge Sanborn-Whether the court
| in Wisconsin has primary jurisdic-
ton or not can make no difference
as far as the order of this court is
concerned.
Senator Spooner went over the his
tory of the appointment of the pres
ent receivers, reciting the fact that
at that time the Northern Pacific
had lease of the Wisconsin Central,
bringing it within the jurisdiction of
| the judicial district of Eastern Wis
consin. The receivers were required
to report to the court in this juris-
diction, and all the courts having
ancillary jurisdiction confirmed the
appointments and instructed the re-
ceiverS to report to the court in Wis
consin. This order has never been
questioned until short time ago,
when the receivers were served with
an order to show cause why the or
der by which they were appointed
should not be vacated on the ground
of non-jurisdiction. Judges Han
ford and Gilbert decided that while
Judge Jenkins had jurisdiction at the
time the appointment was originally
made, he had lost it through the
abandonment by the Northern Pa
cific of the Wisconsin Central lease.
They therefore ordered that the re-
| ceivers account to the court in the
Ninth district for all their acts in
connection with the administration
of their trust, give bonds and answer
certain charges that had been made
against them. Further than this,
they ordered that monthly reports
of the affairs of the road be. made
to that court and that the receivers
take their instructions therefrom.
The receivers were thus placed in
an embarrassing and probably ruin
Gus situation. They felt that they
were called upon to report to Judge
Jenkins as the court of permanent
primary jurisdiction. They had al
ready given to this court large bonds
and they did not feel like giving to
another court additional bonds.
Then in the management, there was
sure to be constant conflict in or
ders. One court might order one
thing and the other order directly
opposite. So
WITHOUT ANY DISRESPECT
to any court they resigned in justice
property. They resigned first to the
court in the eastern district of Wis
consin. They had been criticised
for this, but as it was the court of
primary jurisdiction, and being rec
ognized as such all through their
administration, besides being the
court to which they had given bonds
for the faithful performance of their
duty, they had a right to turn over
to it first their trust when they de-
sired to retire.
when the hearing on the resigna-
tions and the appointment of new
receivers came up before Judge
Jenkins Saturday a request was
made that the resignation be not ac-
cepted for two or three weeks" con-
tinued Mr.. Spooner. 'But I submit,
your honor, that these men should
not be left ITO be ground to pieces
in this conflict. hope for the sake
of the property and the dignity of
the court that the appointment of
double set of receivers may be avert
ed. 1t was to avoid such a misfor-
tune as this that they resigned. Then
they should be relieved just as
speedily as possible, and if they are
compelled, as my friend Cutcheon
c1rc 0ctc lNn 10 10
the court in the Ninth district, they
prefer to answer as private citizens,
with their right of appeal. Is it fair
ito attempt to hold them under the
threat of double receivership,
such as has been made here by Mr.
Cutcheon? Mr.. Payne has been go
ing down hill on a toboggan slide,
and for over a year have been adj
vising him to give up this receiver
ship and devote himself to his pri-
vate affairs"
Mr.. Beeman said in part:
81 am here representing the re-
organization committee, which is
acting in the interest Of those who
hold a majority of all the bonds of
the road. There has been a good deal
of talk among the bondholders and
stockholders about this receivership
business. Before this matter came
up before Judge Jenkins on Satur-
day there was a conference of the
representatives of all the different
interests, and the question as tnsrhat
was best to be done was fully con-
sidered. We proposed a postpone
ment for three weeks, but Mr.. Petit,
who represented the same interests
Mr.. Cutcheon is representing. re-
fused to john In a telegram to Judge
Hanford urging a postponement.
Mr.. Petit said that if the other
judges would postpone he would go
before Judge Hanford and endeavor
to secure a postponement. We then
went before Iudoe Jenkins opd