Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1895-10-03
RECEIVERS NAMED.
Who Are to Take Charge OF the
Northern Pacific.

Milwaukee, Oct. Frank G.. Big
Glow of Milwaukee and Edwin w. Nc
Henry OF st. Paul were appointed by
Judge Jenkins to succeed Henry G..
Payne, Thomas 4. Cakes and Henry
z. Rouse as receivers of the Northern
racine Railroad company. Mr.. Bige-
low Is to be known as the financial re-
celver and will have charge of all mat
tiers pertaining to the finances of the
property. Mr.. McHenry, who for
years past has been the chief engineer
or the Northern Pacific, and who
knows every inch of the road, Is to
have charge of Its operation. The new
receivers are ordered to file bonds in
the sum of 100000 each, within ten
days, and to report to the court i'm the
same manner as their predecessors.
If at any time the appointment Of a
third receiver is necessary the ap-
pOintment will be made.
In making the appointments. Judge
Jenkins diSregarded the wishes Of the
trustee and the different b~ondhoIders.
He said that the history of receiver
ships demonstrated the inadvisability
OF appointing receivers who were con-
nected with ~contending factions. Re
ceiyers were officers of the courts and
no the agents of the parties interest
ed In the property, and for this reason
they should have but one single object
to subserve h interests Of the prop
erty intrusted to them. and should
hold no other allegiance than to the
court.
w. ID. Vandyke. who appeared for
the second and third mortgage bond
holders, opened with the suggestion
that unless the court had already fixed
upon the appointment, Thomas f.
Lowry OF Minneapolis be appointed.
MIR. Lowry, he stated, was satisfactory
to the parties he represented.
ut was yesterday suggested" began
the court, that only two receivers
would be necessary 30 take charge Of
the property instead of three. The
court is not sufficiently informed to
he BILE to declare that the labors of
the management of the vast property
can be properly performed or should
he imposed upon two persons, but be-
ing DESTROYS Of keeping the expenses
down to a minimum, and the suggest
ion being uncontrOverted by counsel.
the court will venture the experiment
and test the practicability of the
scheme. and will appoint but two re-
c~eivers. If at any time the welfare of
the interests involved for any reason
demand the appointment of - third re-
ceiver, the matter will be considered.
| have given much thought to the sug-
geStiOns of Mr.. Lowry and of other
names that have Len suggested TO ME,
and that have occurred to myself.
"rhe court thinks 1t pertinent TO say
by what considerations 1t should be
guided in making the appointments OF
receivers. To a certain degree the
practice Of railroad receiverShiDs has
obtained for parties to agree on one
or more names and suggest them to
the court. The appointment usually
follows as a matter of course, for II
the parties concerned are cOntented
the court may be well satisfied. Sush
receivers have Seyerally represented
conflicting interests, uniting for one
purpose. As the fight wakes warmer
between the factions the best OF the
conflict extends 10 the receiyership.
which in time becomes a war OF fac
tons among the officers of the court.
That was recently exemplifed in a re-
ceivership in the Northern Illinois en-
cult. when the receivers of the court,
as the war became bitter, and as they
became unable amicably to execute
the trust, insulted the court by re-
signing on the condition of the ap-
pointment Of other parties individual
iy. I do not propose that this shall
ever again happen in any suit with
which / may have anything to do.
"Now comes the question in hand.
The receivers to be appointed by this
court must come within the definition
Of the law as / construe il. They
must be men entirely Indifferent TO
~contending faction; they must have no
connection with this fight: they must
he men who are strict and impartial,
and who will perform the duties In
single devotion to the trust and with
no Interior motives to serve. They
must be men of high character. Capa-
BILE 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 railroad. a lire
supposed to be operated by and ir tle
interests of the Canadian Flciic.
which Is a competing line with rhe
Northern Pacific. And although il has
been suggested to me that Mr.. Lowry.
If appointed. would resign thar DO
sition. the court is still very desirohs
that the mel 10 he named should. If
possible. be like Caesars wife-above
| suspicion aud free from any relations
with anything a~ntagonistir to the
Northern Pacific"
When he concluded. Judge Jenkins
instructed the attorneys to draw the
order and he would sign it..
Prof. Floyd Davis Chemist to the
| State BOARD OF Health OF InMn. 81