The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-06-11

The storm center in the receivership
matter is now il New York city. The
whole case rests with the executive COM
mittee of the American Loan & Trust
company. which has been already notified
OF the decision of Chief Justice Merritt,
and 10 consult with which Mr.. Storey is
already rushing east as fast as the
trains can carry him. Before the meeting
OF the district court on next Saturday it
IS probable that a decision will have been
arrived at and the people here will know
whether the Trust company will accept
the joint receivership or viii throw over
the whole matter and leave it 10 the
court TO eter1nine what step next shall
be taken.
Both Mr.. Kellogg. the St. Paul attor-
ney, and Mr. Egan left last evening for
the east. Under the circumstances they
were reticent, as the matter rests entlre-
~ with the executive committee and they
did - desire to say anything which
might Re construed as a piqued express
sion over the outcome of the case. All
Mr.. Kellogg would say was that the
Trust company could not accept MI
Bancroft or any other Union Pacific man
VINO might be named by the court, ana
that 1t was more than probable that the
matter would not end yet. but that some
further action will be taken. 1t is pos
SlDle that il may ne decided to fOrecloSe
q nd compel an early sale of the road.
When the decision Of the court was an
bounced yesterday morning. It spread
like wildfre all over the city and was the
sOpi OF conVerSat ton everywhere about
the Guy The Union Pacific men were OF
cOuI1S satisfied They had had reason,
IS had also the public, for anticipating
that the decision might be otherwise
Expressions of opinion on the street in
almost all quarters, was at nrSt general
~ unfavOrable TO the decision, and talk
of {. mass meeting to protest against 1t
was quite free. However this simmered
down during the afternoon. and before
evening a more satisfied feeling prevailed,
"a the stand taken by Mr.. Bancroft be-
came generally known.
Farley u. Williams Views.
P L. Williams, attorney here for the
Union Pacific. said after the decision had
been rendered: 1T seems to me that the
proposition Of the Trust company CON
IainS a great deal of bluff and buster j
came here and asked that receiver OF
its own be appointed, and objected be
cause we asked for the appointment OF an
a deltional receiver in whom we have con-
FItsnce. II was their scheme to take part
of The road and leave some of the south
ern parts TO be operated as best they
could be. ! cannot help feeling that this
would nave been against the interest of
southern parts of the territory. The
art decided against them on this point
should appointed in whom the court
has confidence Afr. bancroft is no more
interested in the road than any other
employee, and when he sewers his connec-
lion with il he has his reputation as
railroad man TO care for.
4 would not be at all surprised If the
Trust company makes the appointment
OF Mr.. Bancroft a pretext for letting the
whole road go. ! do not believe 1t can
raise the money to pay interest on the
receivers certificates it designs TO issue,
As he decision on that point has already
s ssfR - from Judges Gilbert and
A CRED. many of The business men had
their fears allayed by the argument that
If is 4 within T1p nrONlnCP of the
court 10 change the personnel Of the re-
ceivership. and that it would be very
easy for Mr.. Egan, if he found Mr. Ban
croft was aoI working for the best inter
ests of the road to make that represent
= zion to the court, and have a change
made.