Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-07-20
pETERSBURG'S BONDS
coon PROFIT MADE ~ THE SOUTH
SIDE RAILROAD ISSUE.
found Financial Mnpngcmept-Death
of nm ola Citiycn-An Acceptable
An Important Decision.

wise management of its Common Council
stands very high in the market centres
II the country, IL may be said that the
Mercantile Trust and Fidelity Company,
" Baltimore, recently purchased In one
block about $4,000 OF new per cent.
bonds Of the city. issued TO retire a IKE
AMOUNT Of old Southside railroad per
cent. bonds. for which the city was re-
lponsible. These new per cent bonds
we're sold at 500. and it Is understood
hat the purchasers Immediately after
wards sold them at Sl07. realizing
handsome profit. The fun issue Of bonds
% retire this southside railroad loan, ma
turing on the first Of August, was about
$4,000. but the city took all over the
10000 into its sinking fund and made
. handsome investment at the per cent
-eluction o. interest The new bonds run
'or forty years, and the high-raie OF
premium paid FOR Pctersburgs b per
.ent bonds is an evidence Of the good
financial standing Of the city i'm the great
financial markets Of the county
And. in this connection. il may be
stated that under the wise and economical
management Of the Finance Committee Of
abe City Council the sinking fund, es-
t8blishcd some years ago for the re-
Cemption OF the city's DEBT. has now in
Decping over $1,000 Of the city's bonds
purchased at different times The Finance
Committee. acting under the ordinances
u the city. has always had q strict eye
10 the interests Of the sinking fund, and
whenever such could be done. has bought
n the bonds Of the city. II has not been
,ften that one Of these bonds could be
ound for sale on the market
DEATH OF AN OLD CITIZEN.
Mr.. William y. Jones, aged about G.
7ears, n native Of Dnwiddie county. "A
gentleman OF high character and we'll
Known tobacco dealer in this city, died
asst night. and his funeral took place
his afternoon at the grave. In old Bland
ord Cemetery. The deceased had been in
delicate health for several years, and 1t
VAS only very recently. under excitement,
hat ne attempted 10 take his life. an act
which he subsequently greatly regretted.
he leaves "a mother aged 81 years
PERSONAL AND GENERAL.
Mr.. Thomas J.. Hudgins. a member Of
ihc police corps. was married last night.
bis bride being Miss Sarah Bell. a charm
ng lady Of FIFTH Ward. The ceremony
wax performed at the residence OF the
h.idc hy Rev. W. G. Walden. pastor OF the
ulgh-Strcct Methodist Episcopal church,
m the presence OF large company. At
ter the marriage "a brilliant reception was
given al her parents residence in honor
Of the occasion.
AN ACCEPTABLE DIVIDEND.
The members Of the order Of Fraternal
Guardians IN this city last evening re-
ceived from the receiver a third install
ment on the amount they had paid into
me order.
80 ATTEND THE NATIONAL EN-
CAMPMENT
At the regular monthly meeting OF the
George II. Thomas Post. NO A.. OF this
city held last night, Commander Daniel
Rahily presiding, It was unanimously re-
solved TO attend in q body the Grand
Encampmcnt Of the Grand Army of the
Republic which meets at Louisville. KY
on the llth of September While the mem
hers of the post in this city are very
few, they are very active and energetic
PROPOSED COLONIZATION.
congressman $. s. Yoder, OF Ohio.
Who IS connected with the National Emil
lraton Bureau at Washington, was in the
.ity yesterday. accompanied by several
Scrman friends from Ohio. They subse-
tuently left for North Carolina. where
.hey propose TO establish a colony. They
propose 10 inspect q large tract Of land
lear Weldon.
IMPORTANT DECISION.
In the Hastings Court this morning
Judge Mullen delivered his opinion in
the suits against the Petersburg Stree
hallway Company and the Petersburg
and Asylum Railway Company.
The Court held that after 7alc OF
the property and franchises Of the street
railway company the proceeds arising
cha
Of the bonds secured by the NOR, gage
Of It's franchises and property made by
George Beadic and wife on Fabrlary J.
1883 I'm preference 20 and bcfOr g any
application thereof is made toward hC
payment Of tie bonds secured hy the
moUg1re executed by the Petersburg
Street Hallway Company on December p
1sJl anon the ground, first, That the mott
gage FIRST in date by its terms coVeroc
an after ACQUITTED property; seconciy
hat though a mortgage Of railroad anC
rher quasi pul &c properties does not Ia
Is terms cover after-acquired property
yet IL covers subsequent improvements
lNnsions. additions, etc, made within
he scope OF its charter existing at th'
lime Of its execution, these being con
lldered fixtures added to The property.
As to the contention Of the employees
Who hold claims for services rendered
plies furnished before the appointment
Of g. receiver, Judge Mullen held that, a
there was no evidence OF diversion o
the current expenses TO the payment o
other demands and needs of the corpora
ton. by which diversion these allege'
preferential claims were not paid. m
mart of the corpus OF the propert!
Of the company can be charged VIII
their payment: but that any net incom
in the hands Of the receiver should be s.
applied.
In the Petersburg and Asylum Railwa'
Company's cases. 1t appearing from tn
commissioners report that there Is n
net income in the hands Of the receiver
but that he had operated the road at
loss. and IL further appearing thereiron
that IN 1893 there was diversion 10 IN
amount Of $SCl. 10 pay interest on IN
bonded debt the Court decided that L
the extent Of this diversion, the claim
OF employees and for materials ana sup
niles rendered and furnished within
twelve months before the appointment
Of the receiver, where these claimant
bgvs fled exceptions. are entitled 10 b
paid out OF the corpus in preference u
lien creditors.